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Emerging Money Managers Eye Diverse Candidates

As institutional investors seek a greater number of asset management firms, many are turning to emerging money managers, including more women and minority-owned firms.

The growth of these firms will provide more opportunities for a diverse base of investment consultants and asset managers, many pension advisors believe.

Speaking at Rainbow Push's Wall Street Project Economic Summit in January, Joseph Haslip, assistant comptroller for the New York City Pension Fund, said smaller start-ups are more likely to give opportunities to a diverse pool of candidates. He noted that public pension funds often have close contact with pension consultants, as they simply can't afford to hire and pay talent in the same way as private pension plans and the investment world in general.

Indeed, many investment professionals believe public pension fund managers are the ones generating the buzz that's helping to create opportunities for a more diverse group of money managers and consultants.

AUTHORMyra Thomas Insider Comment
  • jm
    13 November 2009

    I have a dream that my children will one day live in a nation where money managers will not be judged by the color of their skin but by the returns of their portfolios.

  • mh
    10 May 2009

    I found this article very helpful and agree with the findings.

    Diversity will play a critical role in the Financial Services Sector.


  • ja
    12 June 2008

    These firms exist to fill quotas set by many boards of public plans. Most are located in large urban areas with a specific focus of what is important to that population - hispanic, black, female. There can be good opportunities if you fit the social mandate they are looking to fill.

  • CP
    15 May 2008

    I live in Phoenix and the job market for positions like these are few and far in between. Although you can"t tell by my name I am a minority. Can you give me any names of firms in the Greater Phoenix area that may offer opportunities in these areas

  • Ru
    13 March 2008

    How many Emerging Money Mangers are in the Industry?

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