America’s most prominent endowment chief has a message for the firms that manage the school’s money: Hire more women and minorities, or possibly lose the university’s backing.
David Swensen is the veteran investment chief of Yale University’s $31.2 billion endowment. Earlier this month, he told the dozens of firms that manage Yale’s money they would be measured on their progress increasing the diversity of their investment staffs. Mr. Swensen said the Yale Investments Office would be working to improve its own team’s composition, too.
The national discussion over race has resulted in an accelerated push for diversity on boards and in companies across the U.S. It has also prompted some investors to look at investment management, one of the least diverse fields on Wall Street.
Yale’s endowment, one of the biggest in the country, is watched closely by other schools given Mr. Swensen’s stature. He has championed the idea that big investors should diversify beyond stocks and bonds and incorporate qualitative assessments of managers into investment decisions. His approach has generated big gains for Yale and reshaped how endowments and foundations invest.
“Our goal is a level of diversity in investment-management firms that reflects the diversity in the world in which we live. Genuine diversity remains elusive, giving investors like Yale and your firm an opportunity to drive change,” Mr. Swensen wrote in a letter to money managers this month. Yale plans to ask its managers for relevant data on diversity annually, the letter said.
It would be very hard to be less diverse than the Yale team.
If Mr. Swensen really believed in diversity why doesn’t he start with his own position
Ghost of slavery in the hallways!!
Racist much?
More bad news for bigots
This is really disgusting. Basically de facto racial quotas— a clear message to fund managers to stop hiring straight, white men. We (females and minorities) don’t want this woke BS. Just give us meritocracy!!
Hallelujah! Hopefully others that pulls strings will demand equality. The rich should include representatives of all races. It should be the picture of what and who we are. It take more of this. Much Much more.
My company has been pushing diversity for years. It was needed but it’s out of hand. Now those “diverse” leaders are forcing their thoughts (non work related) on everyone. Even the corporation is trying to indoctrinate now. None of this makes money, actually will cost them.
Translation: get rid of whitey
That is TOTAL BULLCRAP! Candidates should be chosen based on their background ability education & accomplishments & NOT by their race!! This plan or policy by YALE is pure DISCRIMINATION!
Last I checked Skull and Bones is a minority group.
Wait, wait, wait! Read chapter 13 of Murray and Herrnstein's 'The Bell Curve.'
White women and black men interchangeable. This is like how Republicans have suggested that, with respect to pollution, cut down on pollution by having companies trade polluting rights. White women = 1 brownie point. Black men = 1 brownie point. Black women = 2 brownie points.
It's this REALLY EVIL lumping in of women with 'minorities' that's slick, sociopathic and clever of them to do. That's where all the white supremacy lies.
Looks like Shilling tbh SwaggyK7815
Ha. Time to start going after tax exempt colleges. 31 billion. Where’s the outrage democrats
This is stupid. Critical race policies make people really dumb.
the awakening?