Key Takeaways
- • UNCF will host a virtual summit for college students of color interested in asset management from 9 a.m. to 12 p.m. ET on Saturday, Nov. 6, as part of its Lighted Pathways Program, a pilot aimed at increasing African American representation in the asset management industry.
- • UNCF cites that African Americans make up less than 2 percent of asset management roles in the U.S., according to Keon Holmes, CFA, managing director at Cambridge Associates.
- • The Lighted Pathways Program drew more than 500 students to its July-August "Summer Series," with incentives of 37 $5,000 scholarships and 30 paid summer 2022 internships in Boston.
- • The program was launched in partnership with the CFA Society of Boston and nearly 30 Massachusetts investment management firms, with presenting sponsors including Adage Capital Management, Fidelity and Wellington Management.
- • Boston is the pilot city, and UNCF hopes to scale the program to Chicago, New York and San Francisco.
Summary
UNCF, the United Negro College Fund, will host a virtual summit on Saturday, Nov. 6, for college students of color interested in careers in asset management. The event runs from 9 a.m. to 12 p.m. ET and is part of the new Lighted Pathways Program, a pilot effort with the stated goal of increasing the number of African Americans in the asset management industry.
The keynote fireside chat, titled "Shining a Lighted Pathway for Others," will be moderated by Dr. Mary Schmidt Campbell, president of Spelman College, with panelists Thasunda Brown Duckett, president and chief executive officer of TIAA, and Ryan Williams, co-founder and chief executive officer of Cadre. Additional sessions include a discussion on "Closing the Wealth Gap for African Americans" led by M. Lee Pelton, president and chief executive officer of The Boston Foundation, and a conversation on "The Disruption and Democratization of Asset Management" led by Kofi Jones of Cambridge Associates. Megan Holston Alexander of Andreessen Horowitz will also speak with Dr. George T. French, president of Clark Atlanta University, on HBCU pathways to success.
The initiative was launched earlier this year with the CFA Society of Boston and nearly 30 investment management firms in Massachusetts. Its Summer Series of informational classes in July and August drew more than 500 enrolled students, who were eligible for one of 37 $5,000 scholarships or one of 30 paid internships with travel and housing coverage in Boston for summer 2022. Kezia Williams, interim director of UNCF's Center for Innovation & Entrepreneurship, said the program aims to show young people professionals who look like them, "light pathways for future wealth creators."
Sponsors include presenting sponsors Adage Capital Management, Fidelity and Wellington Management, along with champion sponsors Abry Partners, Morgan Stanley/Eaton Vance and State Street, and a broader group of corporate partners and supporters. Justin Bullion, CFA, of Payden & Rygel, said Boston was a fitting first city given the concentration of leading asset managers in Massachusetts, and UNCF hopes to expand the program to other cities. Ron Walker, UNCF interim area development director, credited support from Gov. Baker and Lt. Gov. Polito.
The keynote fireside chat, titled "Shining a Lighted Pathway for Others," will be moderated by Dr. Mary Schmidt Campbell, president of Spelman College, with panelists Thasunda Brown Duckett, president and chief executive officer of TIAA, and Ryan Williams, co-founder and chief executive officer of Cadre. Additional sessions include a discussion on "Closing the Wealth Gap for African Americans" led by M. Lee Pelton, president and chief executive officer of The Boston Foundation, and a conversation on "The Disruption and Democratization of Asset Management" led by Kofi Jones of Cambridge Associates. Megan Holston Alexander of Andreessen Horowitz will also speak with Dr. George T. French, president of Clark Atlanta University, on HBCU pathways to success.
The initiative was launched earlier this year with the CFA Society of Boston and nearly 30 investment management firms in Massachusetts. Its Summer Series of informational classes in July and August drew more than 500 enrolled students, who were eligible for one of 37 $5,000 scholarships or one of 30 paid internships with travel and housing coverage in Boston for summer 2022. Kezia Williams, interim director of UNCF's Center for Innovation & Entrepreneurship, said the program aims to show young people professionals who look like them, "light pathways for future wealth creators."
Sponsors include presenting sponsors Adage Capital Management, Fidelity and Wellington Management, along with champion sponsors Abry Partners, Morgan Stanley/Eaton Vance and State Street, and a broader group of corporate partners and supporters. Justin Bullion, CFA, of Payden & Rygel, said Boston was a fitting first city given the concentration of leading asset managers in Massachusetts, and UNCF hopes to expand the program to other cities. Ron Walker, UNCF interim area development director, credited support from Gov. Baker and Lt. Gov. Polito.
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