Morgan Stanley Announces a Successful Year of “The Equity Collective” a Diversity-Driven Collaboration Between 27 Wealth and Asset Management Firms
In February of 2022, Morgan Stanley launched the Equity Collective, an industry-leading group of Wealth and Asset Management businesses who teamed up and committed to educating, empowering, and developing the next generation of diverse leaders in the finance industry. One year later, the 27-member group is proud to announce the successes of the program and their re-dedication to a multi-year commitment.
Spearheaded by Morgan Stanley, members include: American Century Investments, American Funds (Capital Group), BlackRock, BNY Mellon Investment Management, Columbia Threadneedle Investments, Diffractive Managers Group, DWS, First Eagle Investment Management, Franklin Templeton, FS Investments, Goldman Sachs Asset Management, Hartford Funds, Invesco, Janus Henderson Investors, John Hancock Investment Management, Lazard Asset Management, Macquarie Asset Management, Morgan Stanley Investment Management, Natixis Investment Managers, New York Life Investments, Nuveen, PGIM Investments, PIMCO, Putnam Investments, Touchstone Investments/ Fort Washington, T. Rowe Price, and Virtus Investment Partners.
Since launching in 2022, the Equity Collective has led more than 100 events, engaging with students through partners at Boys & Girls Clubs of America (BGCA), hellohive, and Team IMPACT. “We’re proud of the work we’ve done this past year – but we’ve only scratched the surface,” said Andy Saperstein, Co-President of Morgan Stanley and Head of Morgan Stanley Wealth Management. “We’re focused on our mission to demystify the financial services industry to a new generation of students and allow them to imagine themselves in the field.”
Over the course of 2022, the Equity Collective supported the rewrite of Boys & Girls Clubs of America’s CareerLaunch curriculum. CareerLaunch is the organization’s premier job-readiness and career preparation program for teens ages 13-18. The updated curriculum allows teens to narrow in on their passions coupled with potential career fields, and further provides staff guidance to help young people develop necessary strengths and skills with access to additional tools and resources. “We’re thrilled to roll out this revamped curriculum that speaks more specifically to the needs and interests of America’s teenagers today,” explained Jim Clark, President and CEO, Boys & Girls Clubs of America. “Preparing kids and teens for success after high school has never been more important. Thanks to the support from the Equity Collective, we have the power to reach even more young people with impactful and engaging career-readiness programming.”
The Equity Collective’s collaboration with hellohive, a virtual recruiting platform focused on diverse talent, included a three-week, nine-session immersive virtual program in July 2022 exploring careers in financial services through storytelling by professionals in the industry. Over 500 students from more than 150 colleges, representing 47 U.S. states and across 100 different majors enrolled in the program and now have access to internships and job openings from participating firms. “In a world where students are exhausted from virtual events, thoughtful immersive virtual experiences like these are appreciated by our students as they demonstrate that companies are willing to come together to make it easier for them to learn more about careers in financial services,” said Byron Slosar, founder and CEO at hellohive. “Equity Collective’s ‘First Flight into Finance’ program was a game changer for many students, providing them with not only introductions to over 40 professionals across 27 companies, but also connecting them with a network of peers and future colleagues from other schools and colleges.”
Working with Team IMPACT, the Equity Collective built relationships with universities and colleges across the country and is continuing to bring on additional schools each semester. Team IMPACT pairs children facing serious illness and disability with college sports teams. To date, they’ve worked with 750 campuses, tailoring each relationship to ensure that the students have a personalized, winning game plan. “Through the collaboration with The Equity Collective, our student-athletes have the ability to not only continue on their ambitious athletic journey but can also gain the knowledge for professional development, and the soft skills required in career readiness,” said Seth Rosenzweig, CEO at Team IMPACT. “Working with the Equity Collective has been rewarding for us and our student-athletes. They are thrilled by the opportunities which have been unlocked by participating in this initiative.”
“Financial services is a powerful, influencing force, and as such, efforts like the Equity Collective can help drive the development of the next generation of diverse leaders in this important industry,” said Cathy Saunders, Head of Corporate Sustainability and Public Policy at Putnam Investments. “The only way to make a significant impact is through highly collaborative leadership and that is what Putnam and other leading firms have signed on to do.”
About Morgan Stanley
Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment management, and wealth management services. With offices in 41 countries, the Firm’s employees serve clients worldwide including corporations, governments, institutions, and individuals.
Source: Morgan Stanley