NORTHAMPTON, MA / ACCESSWIRE / February 1, 2023 / At T. Rowe Price, the long-term success of our clients is made possible by the diversity of backgrounds, perspectives, talents, and experiences of our associates. Through our diversity, equity, and inclusion (DEI) programs; community partnerships; and the work of the T. Rowe Price Foundation, we continuously invest in people and communities.
As we celebrate Black History Month, we lift the contributions and impact of the community and commit to continuing doing the work to strengthen the community, culture, and broader world.
Supporting Our Associates
Our Diversity Talent Acquisition team is developing a pipeline of underrepresented talent for roles at all levels within the firm. Our recruitment efforts include M.B.A. Weekends, Female Insight Days, investment fellowships, and our pre-M.B.A. summer internships for students of diverse backgrounds. We also created programs to introduce talent to our firm and culture. For example, our Launching Your Legacy program is an opportunity for diverse undergraduate talent to gain exposure to careers in asset management and career pathways at T. Rowe Price, including in Investments, Distribution (Sales and Marketing), Finance and Accounting, Investment Operations, and Technology.
The MOSAIC @ T. Rowe Price business resource group is an associate-led group made up of individuals who join based on common interests; similar lived experiences; and backgrounds or demographic factors such as gender, race, or ethnicity. Through MOSAIC's subgroups-the African Heritage Community, the Asian Heritage Community, and LatinX Heritage Community-the group proactively celebrates cultural diversity and coordinates panel discussions across the firm with senior leaders for all associates to learn from and understand how to progress their careers. This February, the African Heritage Community is promoting health equality and career development, hosting an educational session on sickle cell anemia, two blood drives, and a fireside chat promoting internal professional development resources available to associates.
The firm's Black Leadership Council (BLC) promotes opportunities and success for Black/African American associates. This advisory group provides a direct channel of communication between the Management Committee and senior Black associates to ensure there is active dialogue on associate attraction, retention, and development, as well as timely social issues. Acting as mentors of the firm's rising Black talent, BLC members support the firm's community engagement and outreach and advise the firm's leadership in communicating important messages and developments related to the firm's DEI initiatives.
Supporting Our Communities
Strategic partnerships with diverse organizations are key in helping us to further engage with diverse talent of all backgrounds. For many years, we have partnered with the Robert Toigo Foundation-an M.B.A. fellowship program that develops minority professionals who are ready to lead within the finance industry-which has helped us attract several diverse associates. We have similar relationships with the BEYA (Black Engineer of the Year) STEM Community and the National Society of Black Engineers, among others, and we continue to evaluate other partnerships to source diverse talent.
We also partner with several industry organizations, including the Money Management Institute, the Association of African American Financial Advisors, the CFA Institute, and the UK's Diversity Project to create equal access and opportunity within the industry. Further, Raymone Jackson, the global head of Diversity, Equity, and Inclusion participates on roundtables with other diversity leaders within the industry to share best practices and scale efforts for broader impact.
To that end, last year T. Rowe Price joined the Equity Collective, an industry-leading group of wealth management and asset management businesses that have come together to educate, empower, and develop the next generation of diverse leaders in the finance industry.
We also support diverse-owned social good businesses, innovators, and entrepreneurs of color through Moonshot, a program the T. Rowe Price Group launched in 2022 with Baltimore Corps, a local nonprofit focused on creating equitable change. Eight Moonshot Innovators-four nonprofit organizations and four for-profit startups-received a financial reward from T. Rowe Price and were paired with pro bono volunteer advisors from the firm who partnered with each innovator on a specific business challenge. Additionally, each nonprofit Moonshot innovator is participating in a two-year T. Rowe Price Foundation Entrepreneurs in Residence program, funded by the firm's $2 million racial justice grant, to receive additional mentoring and support.
As we commemorate Black History Month and other celebrations of diversity, we invite you to learn more about our DEI initiatives and how our differences bring us together at www.troweprice.com/diversity.
Black History Month: Investing in People and Communities
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SOURCE: T. Rowe Price
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