CFA Institute Announces Signatory Organizations to New Diversity, Equity, and Inclusion Code for the Investment Profession in US and Canada

Early Adopter Firms Signal Strong Commitments

NEW YORK, March 22, 2022 /PRNewswire/ -- CFA Institute, the global association of investment professionals, today announces that 16 organizations have become signatories to the newly launched voluntary Diversity, Equity, and Inclusion Code for the Investment Profession in the United States and Canada ("DEI Code"). The organizations, first in the industry to adopt the DEI Code since its February launch, together represent some US$4 trillion in Assets under Advisement, more than US$2.5 trillion in Assets under Management, and leadership in the industry.

Signatory organizations announced today are: BentallGreenOak, Callan, CalPERS, Cambridge Associates, Creative Investment Research, Crescent Capital, Fiera Capital Corporation, First Nations Financial Management Board, GMO, MassPRIM, Northern Trust, Payden & Rygel, SLC Management, and Trident. CFA Institute became the first signatory to the DEI Code at launch, with CFA Society Boston and CFA Society Montréal also announcing today their adoption of the DEI Code.

Marg Franklin, CFA, President & Chief Executive Officer, CFA Institute, comments:

"I applaud these firms for signing on. The DEI Code offers an action-focused framework that helps firms to engage on measurable and proven steps that can help to improve diversity, equity and inclusion within organizations, no matter their size or industry focus. I'm delighted that so many industry leaders are signaling their accountability to the wider community, ensuring better working environments for their teams, and continuing a cycle of positive change for future generations."

Comments from signatory organizations announced today are:

Amy Price, President, BentallGreenOak:
"Our commitment to the principles of the CFA Institute DEI Code reflects BentallGreenOak's deep and long-standing conviction that diversity and inclusion lead to better business outcomes, and that meaningful change in our industry can be achieved if we act urgently and collaboratively."

Lauren Mathias, CFA, Diversity, Equity & Belonging Champion, Callan:
"The framework that CFA Institute developed for its DEI Code aligns perfectly with Callan's own DEI initiatives. We are honored to be a signatory and to collaborate with one of the most influential institutions in our industry to make meaningful, lasting change where it truly matters."

Marlene Timberlake D'Adamo, Chief Diversity, Equity and Inclusion Officer, CalPERS:
"CalPERS is proud to join leading financial firms as a signatory to the Code.  The Code provides a path to greater inclusion in the financial services industry and ultimately better investment performance.  It is consistent with CalPERS' commitment to diversity, equity and inclusion and supports the industry and talent that reflects the mosaic of California public employees that we serve."

Melinda Wright, Global Head of Diversity, Equity and Inclusion, Cambridge Associates:
"Cambridge Associates represents 'a room of the willing' – people who want to see change and are committed to being part of it. We want our firm to be a highly impactful organization and exceed expectations for our clients. Diversity, equity and inclusion, when done well, helps accomplish these business objectives. Becoming a signatory of the Code is one example of the incredibly thoughtful work happening to create meaningful impact."

Jeanne W. Wolf, CAE, Chief Executive Officer, CFA Society Boston:
"CFA Society Boston has been at the forefront of DEI since the founding of our women's initiative in 2015. Since then we have collaborated with our member firms to recruit diverse talent to our industry. We are proud that our local society leaders were instrumental in the creation of the CFA Institute DEI Code. CFA Society Boston is committed to promoting the Code in our local market to ensure we build an inclusive and equitable investment profession, both in Boston and globally."

Odrée Ducharme, CFA, President of the Board of Directors, CFA Society Montréal:
"CFA Montréal is very proud to be among the first signatory organizations of the CFA Institute Diversity, Equity, and Inclusion Code.  As a member organization of the CFA Institute, CFA Montréal sees itself as an ambassador for these fundamental concepts within the investment industry and the financial community at large. Our endorsement of this Code strongly speaks to our role as an agent of change and represents the commitment on the part of our Board of Directors, our employees and our volunteers to translate the Code's six core principles into concrete and transforming actions."

William Michael Cunningham, Founder and CEO, Creative Investment Research:
"We know from research that strong diversity performance correlates with strong financial performance. At Creative Investment Research, we're pleased to be among the first organizations to sign the DEI Code for the investment profession, enabling many more organizations to deliver the benefits of diversity, equity and inclusion not only to employees, but ultimately to everyday investors too."

Mark Attanasio, Managing Partner, Crescent Capital:
"A pillar of Crescent's culture is the importance we place on developing talent. We firmly believe that talent is equally distributed across all populations and communities, and an inclusive and collegial work environment is critical for everyone to thrive. On behalf of Crescent, I am proud to be a signatory of the CFA Institute DEI Code which we believe provides the roadmap our industry needs in order to make tangible positive change."

Jean-Philippe Lemay, Global President and Chief Executive Officer, Fiera Capital Corporation:
"At Fiera Capital, diversity of thought and perspective fuels our ability to create innovative investment solutions and to efficiently allocate capital, fostering sustainable prosperity for all our stakeholders. Our vision aligns with CFA Institute's Diversity, Equity and Inclusion Code and we are proud to be among the first signatories. We are taking an important leadership role on the path towards a more diverse and inclusive investment industry, and we are committed to further driving positive and meaningful change within our organization and the communities we serve and support around the globe."

Geordie Hungerford, CEO, First Nations Financial Management Board:
"First Nations Financial Management Board works with Indigenous First Nations to further their capacity in financial, administrative and asset management. Our commitment to the six defining principles of the CFA Institute Diversity, Equity, and Inclusion Code, are realized through our workforce. We are proud to have 57% of our staff identify as Indigenous and 50% of our senior leadership team is female. Embracing a DEI human resources strategy ensures we are continually responding to the needs of our staff and First Nations communities across Canada, to create a legacy for the coming generations."

Scott Hayward, Chief Executive Officer, GMO:
"GMO has always valued diverse perspectives and has a deep commitment to respecting and celebrating differences. Recognizing the importance of diversity, equity, inclusion, and belonging is a hallmark of our culture. We know that using multiple lenses to solve investment problems creates better results for our clients. Seeking out these views also leads to stronger employee engagement. Through our commitment to the DEI Code, we are working to further social awareness at GMO and accelerate these critical priorities across our industry."

Michael G. Trotsky, CFA, Executive Director and Chief Investment Officer, MassPRIM:
"Commitment to diversity and inclusion has to come from the top; this Code is based on principles which provide best practices, lays out best practice guidance, and represents an important stake in the ground for companies to signal that they are ready and willing to improve. During my more than 10 years at PRIM, I've seen the impact of making cultural changes at our organization to foster a diverse and inclusive environment. By adopting this Code, signatories can lead our industry to be more inclusive and ensure the trust of employees, partners, and members of the public at large." 

Shundrawn Thomas, President, Northern Trust Asset Management:
"Northern Trust Asset Management is proud to be an early adopter and signatory of the CFA Institute Diversity, Equity, and Inclusion Code. We believe organizations with a demonstrated commitment to corporate social responsibility including DEI create greater value for the clients and communities we serve. This is why we foster a culture of diversity and inclusion, committed to recruiting, retaining and promoting a high-caliber workforce."

Joan A. Payden, CFA, Founder and CEO Payden & Rygel:
"From our inception 38 years ago, our emphasis on collaboration where competition is external rather than internal has allowed us to cultivate an inclusive culture where all voices are heard, respected, and where constructive debate is encouraged. At Payden, we believe this cultural feature, coupled with a focus on passion and commitment, enhances our client relationships and allows us to attract the best talent, which supports improved investment results. We see the importance of being a leader in our industry, which suffers from underrepresentation of various groups, and we are committed to being part of solutions like the CFA Institute DEI Code to close those gaps."

Steve Peacher, President, SLC Management:
"CFA Institute is setting benchmarks that will drive lasting change within the asset management industry. The DEI Code will provide a framework for us to organize our efforts, and share our commitments with employees, clients, and the industry. We're honored to be a founding signatory and look forward to partnering with CFA Institute and our industry colleagues on this crucial initiative."

Eric Taylor, CFA, Founder and CEO, Trident:
"As the Founder & CEO of Trident, a minority-owned and -led Private Equity firm, I believe it is important to not only promote DEI internally but also set an example for our industry. For this reason and as a CFA Charterholder I am very proud that Trident is a signatory of the CFA Institute Diversity, Equity, and Inclusion Code. On behalf of the entire team at Trident, I thank CFA Institute for this important initiative and we're excited to share best practices we've learned with other signatories and help shape the initiative."

DEI Code signatories commit to six metrics-based Principles and to accelerate and amplify the impact of their commitment by making the economic, business, and moral case for diversity, equity, and inclusion. Further, in Canada, signatories commit to implementing the Truth and Reconciliation of Canada Call to Action #92 and to embracing Indigenous reconciliation. To view the Diversity, Equity, and Inclusion Code for the Investment Profession (United States and Canada) and accompanying materials, visit: cfainstitute.org/deicode.

For more information, contact: [email protected]. 

CFA Institute is the global association of investment professionals that sets the standard for professional excellence and credentials. The organization is a champion of ethical behavior in investment markets and a respected source of knowledge in the global financial community. Our aim is to create an environment where investors' interests come first, markets function at their best, and economics grow. There are more than 180,000 CFA charterholders worldwide in 160 markets. CFA Institute has nine offices worldwide and there are 160 local societies. For more information, visit www.cfainstitute.org or follow us on LinkedIn and Twitter at @CFAInstitute.

SOURCE CFA Institute

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