GLOBAL, 2nd May 2023 – The Investment Association (IA) and Thinking Ahead Institute have today launched a campaign to gather richer data on equality, diversity, and inclusion (EDI) across the investment management industry. As investment managers increase efforts to promote inclusive workplaces and attract and retain a diverse workforce, this data will help provide an evidence-based understanding of the progress being made and the areas requiring improvement.
In a survey sent to the IA’s 250 members, firms are being asked to provide data on a range of employee attributes, including: gender, ethnicity, sexual orientation, as well as socio-economic background and neurodiversity. This will, for the first time, provide a more detailed overview of the demographic makeup of the UK investment management industry and allow firms to benchmark their progress. With the FCA calling on firms to gather richer EDI data, this initiative will also support firms on this journey.
To understand what firms are doing to boost EDI within their workforces, the survey will ask about the type of diversity data currently being gathered by the industry and how often they’re collecting this information. It also aims to establish how firms are advancing EDI within their organisation and the wider industry through different initiatives and charters. With the results to be published later this year, this study will help create a central resource of best practice, so that firms can understand how to recruit and support a more diverse pool of talent.
Karis Stander, Director of Culture, Talent and Inclusion at the Investment Association, said: “Creating inclusive workplaces and diverse workforces is crucial to the success of the investment management industry and to ensure that we truly represent the customers we serve. Data lies at the cornerstone of this – only by gathering richer data and gaining a deeper understanding of the backgrounds of those working within our industry can we drive forward meaningful change.”
Marisa Hall, Head of the Thinking Ahead Institute, said: “We are delighted to be working with the IA on this initiative to provide an evidence-based understanding of the EDI landscape in the UK investment management industry. In doing so, we’ll be allowing asset managers to benchmark their progress and to better focus resources on improving EDI. In time, this should result in a more diverse pool of talent in the UK industry, and beyond, with the corresponding improvement in investment outcomes.”
Investment industry scorecard
About the Thinking Ahead Institute
The Thinking Ahead Institute is a global research and innovation network of some of the world’s major investment organisations and aims to mobilise capital for a more sustainable future. Arising out of WTW Investment’s Thinking Ahead Group, the Institute was established in January 2015 as a not-for-profit group comprising asset owners and asset managers. Currently, it has over 50 members with combined responsibility for over US$16 trillion worth of assets. Learn more at www.thinkingaheadinstitute.org
WTW (NASDAQ: WLTW) is a leading global advisory, broking and solutions company that helps clients around the world turn risk into a path for growth. With roots dating to 1828, WTW has 45,000 employees serving more than 140 countries and markets. We design and deliver solutions that manage risk, optimize benefits, cultivate talent, and expand the power of capital to protect and strengthen institutions and individuals. Our unique perspective allows us to see the critical intersections between talent, assets and ideas — the dynamic formula that drives business performance. Together, we unlock potential. Learn more at www.wtwco.com