Waters and Beatty Request Diversity Data From the Nation’s Largest Investment Firms
Washington, DC, March 18, 2021
Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, and Congresswoman Joyce Beatty (D-OH), Chair of the Subcommittee on Diversity and Inclusion, sent requests to the nation’s 31 largest investment firms—those with $400 billion or more of assets under management—for data on their diversity and inclusion.
“We are making progress to ensure a comprehensive understanding of diversity and inclusion performance in the financial services industry,” the lawmakers wrote in the letter. “However, this cannot be achieved until organizations, especially the largest investment managers, disclose their diversity data and policies with the Offices of Minority and Women Inclusion, Congress, and the public.”
The requests are part of a longstanding effort to hold the financial services sector accountable and provide the American public with a complete picture of how financial firms are meeting their commitments to diversity and inclusion.
“With these data requests to America’s largest investment firms, we are continuing to hold the financial services industry accountable for diversity and inclusion,” said Chairwoman Waters. “Generally, investment firms have failed to prioritize diversity and inclusion on their staffs and boards, and have also failed to prioritize doing business with diverse-owned asset managers. Chair Beatty and I are requesting this information both to gain specific data about the diversity and inclusion policies, practices and outcomes from this sector, and to make clear that these firms will be held publicly accountable.”
The lawmakers requested information about each institution’s diversity and inclusion data and policies from 2016 through the present, including:
See here for a sample letter.