Friday 23 October 2020 4:00 pm

City sponsors initiative for more diversity in asset management

Staff writer

A pilot program aiming to boost the number of ethnic minority Londoners in asset management has launched today.

Students will be given education and training to prepare them for a career in asset management, earning a Level 2 CISI Fundamentals of Financial Services qualification.

The pilot has been led by #Talkaboutblack, a movement to increase the visibility of black individuals in the corporate world.

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The program is in cooperation with the City of London Corporation, the Chartered Institute for Securities and Investment (CISI) and the Diversity Project.

A cohort of 24 pupils from the Mulberry Academy Shoreditch in Tower Hamlets and the Mossbourne Community Academy in Hackney will be the first to participate.

The pilot will run for 12 months starting on 8 November. Sessions will take place virtually and program costs will be borne by sponsors including BlackRock and Goldman Sachs Asset Management.

The program could be extended to the rest of the UK if this year’s cohort chooses to pursue a career in asset management.

The City of London Corporation, #Talkaboutblack and the Diversity Project joined the London Stock Exchange to celebrate the program’s launch in a ceremony opening London’s markets for trading.

Gavin Lewis, MD of BlackRock and co-founder of #Talkaboutblack said: “I grew up in inner city London and never knew the City existed.

“I was fortunate enough to find a way in but there is huge potential which remains untapped,” he added.

“It is imperative that we build a pipeline of talent to enter the asset management industry.”