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Money managers back The Diversity Project to accelerate inclusive practices

Fidelity Investments, Northern Trust Corp. and State Street Global Advisors are among the charter members of The Diversity Project, an initiative sponsored by NICSA, formerly the National Investment Company Service Association.

The initiative, announced in a news release on Tuesday by NICSA, a McLean, Va.-based group that focuses on operational best practices for financial service firms and technology providers, has been launched to "accelerate progress toward a more inclusive culture across all demographics including gender, ethnicity, sexual orientation, age and disability," the news release said.

NICSA will introduce the initiative at its Oct. 12 general membership meeting, where it will host a diversity panel chaired by Dan Houlihan, chairman of NICSA's board of directors and head of asset servicing, Americas, at Northern Trust.

"Diversity brings different perspectives, drives innovation and sparks creativity," Mr. Houlihan said in the news release. "We have seen the benefits of inclusion and it is time for the asset management industry to take the lead. The Diversity Project is assembling a great team of experienced business leaders to address challenges that impact us all and we look forward to getting started."

The 14 charter members of the initiative also include Columbia Threadneedle Investments, Eaton Vance (EV) and MFS Investment Management among other financial services firms.