State Street Announces Strategic Engagements with Industry Groups to Increase Representation of Black & Latinx Talent in the ...
June 07 2021 - 4:00PM
Business Wire
State Street Corporation (NYSE: STT) today announced strategic
engagements with leading industry and education-focused
organizations that advocate for and support the advancement of
Black and Latinx professionals in financial services, including
within the asset management industry.
As part of its commitment to combating racial inequities within
the global asset management industry, State Street will work with
four organizations with a goal of providing career exploration,
inclusion, diversity and equity (ID&E) best practices,
employment and professional development opportunities. The
organizations include:
- A Better Chance, Inc. (ABC) – Founded in 1963, ABC
recruits, trains and procures scholarships for academically
talented students from under-represented communities to attend
leading independent preparatory schools across the United States.
ABC supports approximately 2,000 scholars per year across 250+
schools and maintains an alumni base of more than 17,000 across all
experience levels.
- National Association of Securities Professionals (NASP)
– This 35-year old trade association is the largest of its kind
educating and advocating for Women and Minorities in the Securities
Industry. NASP partners with industry, lawmakers and community
leaders to create fair policies and business opportunities for its
600+ membership base, with a heavy emphasis on the asset management
industry.
- The Toigo Foundation (Toigo) – This diversity leadership
platform was introduced in 1989 with a mission to identify, develop
and promote exceptional diverse finance leaders and to inspire
change through education and strategies that drive greater
inclusion within the financial services industry. Toigo has been
recognized and operated within this landscape for 30+ years — first
through its MBA Fellowship supporting rising diverse leaders, and
more recently extending its work through every aspect of
leadership.
- Association of Luxembourg Fund Industry (ALFI) – This
European based industry association represents over 1,500
Luxembourg domiciled asset managers, funds and related service
providers. ALFI organizes conferences and other forums to share
ID&E best practices and collaborates with industry participants
to provide scholarships and internships to under-represented talent
in the asset management industry.
“Working together with these organizations will help us to
address the societal challenges and inequities facing Black and
Latinx talent by providing education on, access to and career
opportunities in the asset management industry,” said Kathy Horgan,
executive vice president and chief human resources and citizenship
officer at State Street. “We are committed to fostering an
inclusive culture as well as a diverse pipeline of talent within
and across the industry.”
Today’s announcement supports State Street’s 10 Actions to
address racism and inequality in the workplace and our communities
including a specific action to attract and advance more Black and
Latinx people into the asset management industry. In support of
other actions, State Street announced in February its support and
participation in the Management Leadership for Tomorrow's (MLT)
Black Equity at Work Certification, a results-driven certification
program addressing the persistent inequities faced by Black
professionals across corporate America. In March, the company also
announced its commitment to expanding our relationships and
increasing financing partnerships with Minority, Women and Veteran
Business Enterprises.
About State Street Corporation
State Street Corporation (NYSE: STT) is one of the world's
leading providers of financial services to institutional investors
including investment servicing, investment management and
investment research and trading. With $40.3 trillion in assets
under custody and/or administration and $3.6 trillion* in assets
under management as of March 31, 2021, State Street operates
globally in more than 100 geographic markets and employs
approximately 39,000 worldwide. For more information, visit State
Street's website at www.statestreet.com.
*Assets under management as of March 31, 2021 includes
approximately $60 billion of assets with respect to SPDR® products
for which State Street Global Advisors Funds Distributors, LLC
(SSGA FD) acts solely as the marketing agent. SSGA FD and State
Street Global Advisors are affiliated.
© 2021 State Street Corporation - All Rights Reserved
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Media Contact: Ed Patterson epatterson@statestreet.com +1
404 213 3106
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