To grow opportunities in Black and Brown communities, significant long-term investments are necessary.
PO Box 2044
Durham, NC 27702
201 West Main St
Durham, NC 27701
In the world of finance, there is a dearth of people of color. According to the Bureau of Labor Statistics (BLS), Black and Hispanic professionals represent 5.8% and 8.1%, respectively, of the labor force in financial careers within securities, commodities, funds, trusts, and other finance-related fields. In the asset management industry, Hispanic professionals represent less than 4% of managing directors and 3% of analysts, while Black professionals make up around 2% for both positions. For Native communities, data is currently not tracked by the BLS. This lack of diversity represents a significant opportunity for companies given the body of research that underscores the benefits of diversity in contributing to the financial performance of firms.
By working in partnership with its steering committee and our allies in the sustainable finance arena, REEFS will tackle the pipeline challenge, addressing root causes that make pursuit of careers in finance difficult for many students of color. Currently, we are developing a program called BLAISE (BIPOC Leaders Advancing an Inclusive and Sustainable Economy) that will target students attending Historically Black Colleges and Universities (HBCUs) and Hispanic-Serving Institutions (HSIs) with an interest in social impact and finance to gain knowledge, skills, and networks.