As the quest to reconcile capitalism with genuine impact grows increasingly important, financial institutions can play an outsized role in strengthening diversity, equity, and inclusion in economic participation, and restoring trust in market capitalism. To support such efforts, Milken Institute research recommended 17 strategies across 4 core pillars and 7 specific actions for progressing diversity, equity, and inclusion in the finance industry. These include:
- looking beyond traditional track record and performance metrics to uncover new talent;
- forgoing fee breaks to help emerging managers grow;
- leveraging technology and anti-bias training to better identify overlooked opportunities;
- engaging asset managers lagging in diversity;
- and creating fellowship programs that counteract recruitment biases.
External factors may include the impact of national demographics and workforce participation, cultural norms and practices, and infrastructure such as access to academic institutions.
This roundtable seeks to build upon the Institute’s research and convenes financial institutions and companies for an off-the-record discussion on the metrics and actions to drive impact in capitalism, considering the cultural and geopolitical landscape, and the key principles that companies have calibrated in practice.
