Cambridge adds manager-diversity position

Jasmine Richards was named senior investment director, manager diversity, at Cambridge Associates, the consulting firm said in a news release Friday.

It is a new position.

Ms. Richards, who started earlier this month, leads the firm's "ongoing initiatives to identify and research institutional-quality investment managers in all public and private asset classes that have diverse owners or leaders, including women and people of color," the release said.

She reports to Ashby Hatch, head of public equities research.

"We believe that strong investment performance depends in part on the diversity of ideas, backgrounds and geography among the managers with whom we invest on behalf of our clients. Accordingly, we are committed to increasing the number and range of minority- and women-owned investment managers in our universe," said Noel O'Neill, head of global investment research at Cambridge, in the release.

Previously, Ms. Richards was an international equity manager and research analyst at manager-of-managers specialist FIS Group, where she identified and managed strategies with an emphasis on diverse-owned managers, the release stated. An FIS spokeswoman said in an email that the firm is interviewing candidates for the role of research analyst.

As of Dec. 31, Cambridge had $389.6 billion in assets under advisement, a spokeswoman said.