PRESS RELEASES

LINK: https://www.forbes.com/sites/robertreiss/2021/10/29/legacy-ceos-agree-purpose-is-the-foundation-for-great-companies-today-and-tomorrow/?sh=ad364733c97b In March 2014 I wrote an article for Leader to Leader magazine stating we were entering 4th phase of the corporation. Phase 1 was in the 1920s when Alfred […]

LINK: https://www.prnewswire.com/news-releases/8-2-of-fortune-500-ceos-are-women-according-to-the-2021-women-ceos-in-america-report-301400856.html WASHINGTON, Oct. 14, 2021 /PRNewswire/ — Women Business Collaborative (WBC) with Ascend, C200 and Catalyst, has released the second annual report highlighting Women CEOs in America: Changing the Face of Business Leadership.

WBC and IBM held this panel as part of WBC’s “#FasterTogether” series which highlights the power of diverse women by building allyship across all networks.

WASHINGTON, March 23, 2021 /PRNewswire/ — Despite some encouraging signs in specific regions, women's participation in the investment management industry has remained stagnant for more than 20 years, according to data presented during DE&I in the Investment Management Industry, a virtual Executive Roundtable hosted by the Women Business Collaborative, the Investment Adviser Association, and Morningstar. 

The data picture of women's underrepresentation in investment management was presented by Laura Lutton, Head of Asset Management Solutions at Morningstar and Sarah Maynard, Global Head of External Inclusion and Diversity Strategies and Programs at the CFA Institute.

Strategies for creating a path forward to accelerate change were offered by three leading asset management CEOs with more than 85 years of combined experience and overseeing more than $4.5 trillion in assets: Yie-Hsin Hung, CEO of New York Life Investment Management; Jenny Johnson, President & CEO of Franklin Templeton; and Michelle Seitz, Chairman & CEO of Russell Investments. The roundtable was moderated by former Oak Hill Advisors Partner Alex Jung and Investment Adviser Association President & CEO Karen Barr.

Globally, the rate of women mutual fund managers is unchanged since 2000 at about 14 percent, according to new data presented by Morningstar's Lutton. There are bright spots – the representation of women in parts of Asia is north of 20 percent and is approaching 30 percent in China. But in the U.S. and U.K. the rate is below the global average.

One point of encouragement is that more women are in the talent pipeline, seeking the professional credentials necessary to be competitive in the investment management industry. The CFA Institute's Maynard noted that between 2015 and 2020, the participation by women in the CFA Program grew from 32 percent to 41 percent.  In real numbers, the number of women candidates for the CFA designation doubled over that period, from 70,000 to 140,000.

Continuing to build reliable data sets is crucial to building strategies for change. Each of the CEO panelists provided insights for accelerating positive change.

Franklin Templeton President & CEO Jenny Johnson said investment management executives need to view the hiring and promotion of women as "an unbelievable opportunity. If you have an underutilized group of very talented individuals, you have to look at it as an incredible investment opportunity. Firms must look critically at their practices to see what they are doing to build a pipeline and ensure advancement opportunities for women.  We must advocate for groups that have been historically underrepresented to start joining investment management firms and to envision themselves in our industry in the future. Firms need to help plant the seed early at the foundation of their careers."

"You have to resource this effort like any major strategic initiative with commitment from the top and embed diversity and inclusion into every step of our processes around talent, in interviews and promotions, to increase the likelihood of achieving the outcome we all desire," said New York Life Investment Management CEO Yie-Hsin Hung. "As women leaders, there's also an opportunity for us to bring more women into our industry by sharing our stories with the next generation and better connecting what we do to making a difference in peoples' lives."

"We have the women taking the exams, graduating from esteemed universities, and applying for jobs. We need to make sure that once they're in our pipeline, we provide opportunities to get them on track for promotions and leadership roles," Said Russell Investments CEO Michelle Seitz. "We need to attract and retain people once they're in the field."

A recording of the executive roundtable DE&I in the Investment Management Industry is available online.          

Women Business Collaborative

Women Business Collaborative is an alliance of business women's organizations working together to achieve equal position, pay and power for all women in business. We are a social movement consisting of millions of diverse, professional women and men, business organizations, public and private companies and the media leveraging the power of collaboration to accelerate change.

Investment Adviser Association

The Investment Adviser Association (IAA) is the leading trade association representing the interests of fiduciary investment adviser firms. The IAA's member firms collectively manage more than $25 trillion in assets for a wide variety of institutional and individual investors. In addition to serving as the voice of the advisory profession on Capitol Hill and before the SEC, DOL, CFTC and other U.S. and international regulators, the IAA provides extensive compliance and educational services to its membership. For more information, visit www.investmentadviser.org or follow us on LinkedIn, Twitter and YouTube.

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The Company offers an extensive line of products and services for individual investors, financial advisors, asset managers, retirement plan providers and sponsors, and institutional investors in the debt and private capital markets. Morningstar provides data and research insights on a wide range of investment offerings, including managed investment products, publicly listed companies, private capital markets, debt securities, and real-time global market data. Morningstar also offers investment management services through its investment advisory subsidiaries, with approximately $227 billion in assets under advisement and management as of Dec. 31, 2020.

SOURCE Women Business Collaborative

From C-Suite to Boardroom – Women's History Month Series to Guide Path to Gender Diversity. Originally published for PR Newswire on 3/08/21 and found on Expert Click. com

WASHINGTON, March 8, 2021 /PRNewswire/ — Throughout Women's History Month, the Women Business Collaborative is hosting a series of events to demonstrate how women rise to CEO, C-Suite and Board positions; the best practices in Diversity, Equity, and Inclusion (DE&I) and progress in industries like investment management and staffing; and how we can weave together a movement of women of all colors and backgrounds. The WBC is speaking with CEOs and executives from across industries about the importance of women's leadership and equity across businesses.

"It's exciting to see a new critical mass pushing for greater gender equality and diversity," stated Edie Fraser, WBC's Chief Executive Officer. "With these events, we are looking to harness that momentum and make sure these efforts are front and center this year."

WBC is partnering with RestaurantHER to highlight, celebrate, support and grow the number of women-led restaurants, especially those impacted by COVID. Together, we'll raise awareness and encourage Americans to support local women-owned restaurants throughout the month of March, throughout the year and beyond.

Join us on Monday, March 8th to raise a glass for equality with Women of the Vine and Spirits and participate in what is anticipated to be the largest virtual toast for gender equality in history. Also, on March 8th, WBC and Million Women Mentors are hosting a cross-sector of leaders to discuss how we can actively choose to challenge convention.

On Wednesday, March 10th, C200, Equilar, and the Pepperdine Center for Women in Leadership will announce an upcoming report that takes an in-depth look at how a woman's social network has the potential to lead to more women acquiring board appointments. Key finding: 92 percent of board seats are filled through networking.

On Thursday, March 18, WBC, the Investment Adviser Association, and Morningstar Research will co-host an Executive Roundtable to discuss DE&I in the investment management industry. The industry CEOs and leaders on this panel will discuss the latest data on women in the industry and the path forward.                                                                                                              

On Tuesday, March 23, IBM and WBC are hosting a global conversation on how to weave a diverse movement for gender equity. We will discuss how all diverse women and men can work together to build equitable pathways and truly engage to promote women's leadership.

Join us Friday, March 24 for our monthly RT series with CEOs talking about the importance of diversity in leadership and how we got to the strong call to action in 2021 for more diverse women in leadership positions.

Finally, on Wednesday, March 31, we will talk with NetApp and Capital One about allyship in DE&I and what practices work across sectors including the technology and financial services industry.

WBC looks forward to discussing how we are accelerating progress towards women's leadership throughout 2021 in our monthly executive and CEO RT series and chats. Look for more information in Women Leadership Magazine USA's March issue on the WBC and Join us as we are #WBCFasterTogether.

Published for PR Newswire in February, 2021 — Study also finds that staffing industry lacks diversity, an issue women in leadership are more likely to prioritize

WASHINGTON, Feb. 26, 2021 /PRNewswire/ — The WBC Staffing Council – a workstream within the Women Business Collaborative (WBC), in partnership with executives representing staffing industry associations American Staffing Association (ASA), National Association of Professional Staffing (NAPS), Staffing Industry Analysts (SIA) and TechServe Alliance,  today announced the dissemination of their initial survey of 489 companies on gender diversity and equity within the U.S. Staffing Industry. The survey found that the percentage of women executives in the staffing industry is not above 20%

In late 2020, the WBC Staffing Leadership Council launched its efforts to accelerate diversity, equity and inclusion in staffing industry.  Their initial efforts called for a coordinated approach to providing the awareness of the status of diversity across the industry, as well as subsequent efforts to guide efforts towards a more balanced environment. The initial survey results largely reinforce our perception of opportunity to improve both representation and compensation equity from a gender diversity perspective.  Key observations from the survey include the following:

There is a profound pay gap between women and men – both within the industry and across the U.S. as a whole.

The staffing industry has a fair balance of men and women across its workforce, however imbalance occurs as leadership levels increase, with an underrepresentation of women in senior leadership roles.

Women CEO's bring a unique perspective to leadership – they are more likely to drive initiatives that create a stronger more balanced culture (including priorities around diversity).

There is a lack of racial diversity across this industry with people of color comprising well under 10% of all staff.

"The data in this survey and dashboard this represents a significant opportunity to drive opportunity for promotion and pay equity in leadership roles" states Edie Fraser, CEO of the Women Business Collaborative.  "The staffing industry supports the employment of nearly 10 million job workers on an annual basis.  By encouraging a more diverse and equitable workforce composition across those businesses supporting this industry, we will by default better represent the workers we employ."

The WBC Staffing Leadership Council has made the results of the survey available for review and analysis through a dynamic data analytics dashboard.  Over the next several months the Council will begin to release a series of insights and observations resulting from our review of the survey results. This work will be done in collaboration with the work along the 9 Action Initiatives of the WBC which focus on ensuring equal position, pay and power for all women across all industries and throughout the pipeline.

To learn more about the WBC Staffing Leadership Council and how you can get engaged, please visit  www.wbcollaborative.org or contact Kip Wright, CEO Genuent, and Co-Chair for the Staffing Council.

About the Woman's Business Collaborative
The Women Business Collaborative is an alliance of 44+ women's business organizations working together to achieve equal position, pay and power for all women in business. We are a business movement consisting of millions of diverse, professional women and men, business organizations, public and private companies and the media leveraging the power of collaboration to accelerate change.

SOURCE Women Business Collaborative

Related Links

https://www.wbcollaborative.org