Investment firms urged to do more to tackle racial inequality

'Go beyond solidarity statements'

Asset managers have been urged to "go beyond solidarity statements and instead commit to action, activism and accountability" to tackle discrimination within the industry and wider society.

The Black Women in Asset Management (BWAM) group has called on investment professionals to "commit to action, activism, and accountability to dismantle the racial inequities plaguing society" in an open letter. The group, which was co-founded by TowerBrook Capital Partners' Jacqueline Taiwo and ARCH Emerging Markets Partners' Mariam Akanbi, set out a five-point action plan to promote racial equity within asset management firms and the companies and issuers they invest in. The 'looking at your shoes' moment: Let's talk about race It said the industry must build "an anti-racist portf...