Connecticut State Treasurer Shawn T. Wooden has partnered with the Ford Foundation on a new initiative to work with the leaders of major financial services corporations to promote diversity within their workforces and industry.
This initiative has resulted in two virtual meetings with executives from the companies – which include Bank of America, BlackRock, Bridgewater Associates, Goldman Sachs, The Hartford and T. Rowe Price Group – to focus on increasing the diversity at the boardroom and senior leadership levels, building pipelines for diverse talent development, identifying and addressing racial pay and opportunity disparities, and ensuring the health and safety of their frontline employees.
The initiative is also examining ways to increase investments and partnerships with minority-owned businesses and provide capital and educational investments into nonwhite communities.
“Corporate America can and should pull the levers of power they hold to work towards a more just society,” said Wooden. “We have the collective power, leadership, and resources to bring tangible, long-lasting change to our country through diversifying the corporate workforce and creating support systems and career opportunities for Black employees and other employees of color.
“It is also critical that we invest in the communities in which our employees live and close racial economic disparities that constrain our economy,” he noted.