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City Hive CEO Accuses Leadership Of Investment Management Industry Of Lack Of Action On Diversity And Inclusion

Bev Shah, Chief Executive of City Hive, the independent organisation dedicated to creating a more diverse, equitable and inclusive corporate culture, sent a letter to Chief Executives across the investment management industry highlighting the lack of real, genuine action by the sector and its leadership to prioritise diversity and inclusion.

“While there has been a welcome increase in awareness through the #IAM, #BlackLivesMatter #TimesUp and #Metoo campaigns, I remain disappointed by the lack of action the investment management industry has taken to address diversity and inclusion. To create impactful changes, firms must make significant cultural changes, and that starts at the top.  Awareness does not equal action. The lack of tangible, measurable results, demonstrates where diversity and inclusion sit in terms of priorities," said Shah.

“Improving diversity, be it gender, ethnicity, LGBTQ, education, socioeconomic, neurodiversity and so forth, should be embedded as a key business objective, not a nice to have once a year on International Women’s Day or when there has been a gross injustice.  Diversity and inclusion matter 365 days of the year and should be ingrained in every companies prudent, sustainable management.

“While sustainability and ESG are the phrase du jour with many firms stating that it is ingrained in their DNA as investors and employers, we do not see firms meeting their own sustainability responsibilities by prioritising diversity to create a more inclusive and equitable industry. It is simply another form of greenwashing.”

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