NEW YORK--(BUSINESS WIRE)--A group of leading global institutional investors, in collaboration with the Government of Canada, today announced a landmark project to advance key G7 objectives. As part of three global development initiatives, CFA Institute, and its global network of societies, has been selected to create more opportunities in finance and investment management by establishing an internship program focused on university women studying in select developing markets.
The institutional investors who have pledged to commit resources, expertise and networks to further the G7’s diversity initiative are: AIMCo, Allianz, Aviva, CalPERS, CDPQ, Canada Pension Plan Investment Board (CPPIB), Generali, Natixis Investment Managers, OMERS, Ontario Teachers’, OPTrust and PGGM.
Speaking about its selection to create opportunities for women in finance, CFA Institute CEO and president, Paul Smith, CFA, said: “CFA Institute is deeply honored to have been chosen by this influential group of institutional investors to help address one of the world’s – and the industry’s – most intractable challenges: eliminating gender inequality. When we think about what finance is for – its important role in eradicating poverty, closing the infrastructure funding gap and fostering conditions in which opportunities abound for everyone – then this initiative represents an outstanding example of our ability as an industry to effect meaningful change.”
CFA Institute chair-elect, Heather Brilliant, CFA, said “The selection of CFA Institute to help create greater opportunities for women in finance is an endorsement of the gender diversity work we do, pioneered by CFA Societies in Canada, and the programs we have instituted in countries like India. It also recognizes the benefits that can be gained by leveraging our global society network and our presence in emerging and frontier markets”.
Opening doors: increasing career opportunities in finance for women worldwide
Despite progress, women remain underrepresented in senior corporate management everywhere. Institutional investors and asset managers face challenges in this respect, and the relatively low number of women who choose careers in finance and investment management is often mentioned as a significant contributing factor. CFA Institute has been a leading voice on gender inequality in the industry and sponsors research, hosts conferences and events, and convenes industry meetings to spotlight the issue.
Today’s announcement marks the launch of a two-pronged initiative to increase career opportunities in finance for women worldwide by:
1) Committing to develop and implement diversity policies inspired from global best practices, including the 2016 IFC report SheWorks: Putting Gender-Smart Commitments into Practice; and
2) Establishing and supporting a partnership with CFA Institute and its global network of societies to set up an internship program, focusing on encouraging university women studying in developing markets to learn about, prepare for, and gain experience in the investment industry.
About CFA Institute
CFA Institute is the global association of investment professionals that sets the standard for professional excellence and credentials. The organization is a champion of ethical behavior in investment markets and a respected source of knowledge in the global financial community. Our aim is to create an environment where investors’ interests come first, markets function at their best, and economies grow. There are more than 150,000 CFA® charterholders worldwide in 165+ countries and regions. CFA Institute has eight offices worldwide and there are 151 local member societies. For more information, visit www.cfainstitute.org or follow us on Twitter at @CFAInstitute and on Facebook.com/CFAInstitute.