Diversity Project set to expand into Europe
Baroness Helena Morrissey (pictured) is chair of the Diversity Project in the UK.
The Diversity Project Europe will be the first cross-border initiative of its kind and will be spearheaded by industry veteran Ric van Weelden in partnership with eight founding members: Aegon Asset Management, AXA Investment Managers, Franklin Templeton, HSBC Global Asset Management, Nordea Asset Management, Pictet Asset Management, Quoniam Asset Management and T. Rowe Price.
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The Diversity Project said that despite a lack of data, the asset management industry was «well behind» other professional services sectors in terms of gender balance and people from ethnic minority groups in decision-making positions.
At first, DPE will focus on three broad themes: gender equality, social mobility and inclusive culture, in a bid to facilitate change via voluntary collaboration and sharing of knowledge.
The European iteration of the initiative will set up workstreams around the three topics, where employees will work to deliver against its goals.
The DPE will also commission research to understand the current state of diversity and inclusion in the European asset management industry and to identify opportunities and challenges within the sector to inform its efforts.
Ric van Weelden, acting chair of the DPE's advisory committee, said: «European asset management is undergoing a transformation due to the shift from DB to DC, technological disruption, digital distribution and regulatory change. To better serve clients and stay competitive, the industry must evolve and widen its talent pool. Not only will this benefit the industry, but it will also have an impact beyond this, building a
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