Diversity – Feature


DIVERSITY: TIME FOR CHANGE


and, in a sign that times are changing, the asset manager moved swiftly and dismissed her from her role.


Picking up the baton


The financial services industry responded to the outrage over the killing of George Floyd by releasing public statements in support of tolerance and diversity on social media. The most prominent of these campaigns is the #IAM chal- lenge. This was initiated by, among others, Legal & General Investment Management (LGIM) fund manager and cam- paigner Justin Onuekwusi. The Diversity Project and the


#TalkAboutBlack campaign launched by Gavin Lewis, a man- aging director at BlackRock, were also involved. Industry organisations, such as the PLSA and The Pension Regulator, have also picked up the baton. In March, the PLSA published a guide on diversity and inclusion, which came up with a specific set of recommendations to improve trustee diversity. The Pensions Regulator followed suit by announc- ing in April that diversity would become a key aspect of its work on scheme governance. While these initiatives suggest that the industry is starting to talk the talk, it is still far from walking the walk, as Bev Shah, chief executive and founder of


Issue 94 | July 2020 | portfolio institutional | 35


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