The Money Management Institute, a Washington-based trade association that represents financial services firms, has established a board of trustees to expand its workplace diversity initiative.
MMI's Gateway to Leadership program places minority college students in paid internship positions with financial services industry firms. Since GTL was founded in 2007, more than 160 students from historically black colleges and universities have been placed with 34 MMI member firms for eight-week summer internships.
MMI's President and CEO Craig Pfeiffer said that when he became CEO of the organization in May, he wanted “more structured governance” for the program, which led to the board's formation.
“This is an expansion of an already existing initiative,” Mr. Pfeiffer said in an interview. “We want to provide access to those who do not have a natural path to a career in the financial services industry.”
The board's goal is to have the program reach more minority groups and give member firms access to a more diverse pool of potential employees. The program's mandate has been expanded to include African-Americans, Hispanics, women and students from smaller colleges.
John E. Coyne III, vice chairman of Brinker Capital, will serve as chairman of the GTL Foundation's board. The other board members are Andrea Lisher, head of North America global funds at J.P. Morgan Asset Management (JPM); Jac McLean, head of distribution at Hartford Funds; Cheryl Nash, president of investment services at Fiserv; Vincent Pandes, partner at Neosho Capital LLC; Mr. Pfeiffer of MMI; George Raffa, senior vice president and national sales manager of asset management services at Raymond James; Mark Spina, executive vice president and head of U.S. intermediary distribution at Pioneer Investments; and Sean Walters, executive director and CEO of the Investment Management Consultants Association.
This article originally appeared in the February 22, 2016 print issue as, "Money Management Institute expands workplace diversity initiative".