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San Francisco


Chapter President
Linda Cornett 

AVP, Marketing and Client Service
Progress Investment Management
E-mail: lcornett@progressinvestment.com 
 

 

   
   
Diversity and Inclusion in Asset Management Event Recap
 
The NASP San Francisco Chapter along with co-host Wells Fargo Investment Institute held a panel discussion on the topic of Diversity and Inclusion in the Asset Management Industry December 6, 2018. The panel was led by Mona Williams, president of Progress Investment and National Board Member of NASP. 
 
Linda Cornett, San Francisco Chapter President, welcomed over 100 attendees and encouraged them all to join NASP, affiliate with the SF Chapter and get involved. The SF Chapter plans to launch its Fast Track Program next Fall and needs your help.
 
Mona then had a lively discussion on the important topic of Diversity and Inclusion with Ed Harris, CFO of the East Bay Community Foundation, Diego Carrillo, Investment Manager CalPERS, Hazlitt Gill, Head of Global Manager Research, Wells Fargo Investment Institute, Betty Tse, CIO of Alameda County Employees’ Retirement Association (ACERA) and Scott Chan, Deputy CIO of CalSTRS. 
 
In the past 18-24 months, there has been an explosive focus on diversity and inclusion as a source of innovation, differentiation and business success. Nowhere has this focus been more prevalent than in financial services, and in asset management, in particular.
 
We learned from the panelists the unique ways that their organizations are addressing and embracing diversity and inclusion. The East Bay Community Foundation requires its consultant to include at least one minority-owned Investment Manager in all searches. CalPERS, CalSTRS and ACERA all utilize Managers of Emerging Managers to access minority-owned investment firms. CalPERS and CalSTRS also have annual Diversity Forum’s and have documented five-year plans on how to continue to increase diversity and inclusion at all levels of their organizations. 
 
The 2019 Diversity Forum is scheduled for June 10-11. Wells Fargo’s Supplier Diversity and Wells Fargo Investment Institute have hosted diverse asset manager symposiums in St. Louis and Chicago for Wells Fargo leaders to meet more diverse investment professionals/companies to work with, recruit, and add to the platform. WFII has a goal of having diverse asset managers in each of the four asset classes on the platform by year-end - they are close to having two asset classes with sourced asset managers that Wells Fargo Supplier Diversity introduced WFII to at the symposium. Forging these relationships over time has been valuable. 
 
The event generated positive PR for NASP National and the local San Francisco Chapter. We will build on this momentum in 2019!