Institutional investors control $ 70 trillion in combined assets – and the majority of people handling this huge pile of money are white people, men, or both.
Insider spoke with eight black women in high-powered asset management roles that collectively control billions of dollars in assets. They show whether the diversity issues in the industry are well understood. They also discussed the victories and pivotal moments in their careers:
- “I am well aware that when you ask a random person, ‘What comes to your mind when you think of an investment manager? “I’m pretty sure the picture that comes to mind doesn’t sound like me,” said Tina Byles Williams, founder, CEO and CIO of Philadelphia-based asset manager Xponance. “It probably doesn’t look like a woman, and it sure doesn’t look like a black woman. It’s the opportunity and the burden.”
- “I’m taking space wholeheartedly,” said Dominique Cherry, head of capital markets at the Philadelphia Board of Pensions and Retirement. “You just decide that you are going to take up as much space as you need until your presence is recognized, your voice heard, and I hope you can bring some young people with you.”