As business school grads begin their job searches this season, some members of ethnic minorities are virtually assured of jobs at the country's top money management firms and pension funds, thanks to the Robert A. Toigo Foundation of Oakland, Calif.
The foundation is commemorating its 10th year of helping minority students at top business schools to pay for their tuition and to find summer internships and jobs, has a 98% placement rate, said Sue Toigo, the foundation's president.
The foundation is sponsored by more than 150 top-drawer financial firms, including Goldman, Sachs & Co., New York; Putnam Investments, Boston; INVESCO Capital Management, Atlanta; and State Street Global Advisors Inc., Boston -- which, in turn, have a ready pool of talent to hire.
"The specific goal was to diversify the ranks of professionals in the financial services industry, both domestically and internationally," Ms. Toigo said.
The foundation's fellows include Christopher Garrett, a graduate of the Columbia University Business School and now part of the emerging markets group at the pension fund of E.I du Pont de Nemours & Co., Wilmington, Del.; Tim Legesse, who received his MBA from the University of California at Berkeley and landed at the Ohio State Teachers' Retirement System, Columbus, before moving on recently; and Kathleen Tait, a Columbia University graduate who is now a vice president at J.P. Morgan Investment Management, New York.
"They are all extraordinarily bright people. They got into business school on their own merit, so we have a group of leaders to begin with," Ms. Toigo noted.