Leading G7 Investors Come Together in Support of Diversity Initiative

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.”

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.