On September 16, 2020, the SEC’s Asset Management Advisory Committee, or AMAC, hosted a webcast to further discuss diversity and inclusion issues in the asset management industry initially addressed at its last meeting on July 16, 2020. AMAC has held these meetings to provide incremental updates on its efforts to prepare and deliver to the SEC final recommendations on improving D&I in the asset management industry. In his opening remarks, SEC Chairman Jay Clayton indicated a hope that these continued discussions would help the SEC and the asset management industry find solutions toward a “shared goal” of expanding the opportunities available to diverse asset managers.
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Asset Management
Subscribe to Asset Management RSS FeedSEC Called Upon to Take Action on Diversity & Inclusion in the Asset Management Industry
The SEC’s Asset Management Advisory Committee hosted a meeting on July 16, 2020 to discuss the current state of diversity and inclusion (D&I) in the asset management industry. SEC Chairman Jay Clayton, SEC Commissioner Elad Roisman and Director of the SEC’s Division of Investment Management Dalia Blass opened the meeting. Each expressed an interest in understanding why minority- and women-owned firms make up only approximately 1.3% of the total assets under management in the global asset management industry. They asked what efforts the industry is taking to increase this percentage.
Meeting participants included Gilbert Garcia of the asset management firm, Garcia, Hamilton & Associates, Robert Raben of the public policy firm, The Raben Group, Juan Martinez of the Knight Foundation, Brenda Chia of the Association of Asian American Investment Managers, Ron Parker of the National Association of Securities Professionals, Solange Brooks of the New America Alliance and Robert Greene of the National Association of Investment Companies.
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