As investors, we hold our investee companies to high standards when it comes to diversity, equity and inclusion policies and practices, and we have seen first-hand how companies can reap the benefits of strong performance in this area.
We have increasingly turned this lens on ourselves and the asset management industry as a whole, which we know faces structural challenges on this topic. Our leadership and our employees are committed to improving our own diversity, equity and inclusion practices, as well as speaking up within our industry to push for better practices.
Heritage, History and Mental Health Awareness
In acknowledgment of important calendar events, Newton employees share their moving and fascinating stories.
Diversity, Equity and Inclusion Council
Our diversity, equity and inclusion council promotes diversity of thought, background and experience within Newton. So far, the council has launched a range of events which aim to break down barriers across the business, including a book club and a ‘coffee roulette’ program, as well as information sessions to educate employees on key diversity and inclusion topics.
Against the backdrop of the Covid-19 pandemic, a recent priority has been to increase mental health support to employees. A dedicated mental health and wellbeing website launched at the start of 2022, containing numerous resources available to all staff. We have also hosted guest-speaker events and launched a ‘Humans @ Newton’ podcast interview series, in which colleagues share their personal accounts of mental health. A program of resilience training is being rolled out across the company and will result in the training of all staff on resilience for change.
Our Hiring Practices
We are working hard to ensure that our hiring practices are as inclusive as possible. We continue to seek to improve the racial diversity of our workforce and close our gender pay gap via a number of recruitment initiatives. Among these are ensuring that final candidate slates for all open positions in the Europe, Middle East and Africa region are a minimum of 50% female and/or ethnically or racially diverse, and holding regular unconscious bias training for staff.
Among schemes in which we participate to increase the diversity of our workforce are:
the #100BlackInterns scheme, which aims to introduce black students and recent graduates to a career in investment management in the US and the UK
a summer intern program for Latin American and black students in the US
a vocational trainee program in the UK which takes talented school leavers and offers them the chance to study for a degree alongside working full time at Newton.
We also sponsor a return-to-work program for those who have been out of work for some time, and we have run a successful returning-military program, from both of which several individuals have gone on to full-time employment with us.
We offer flexible working patterns, and we have worked with the Diversity Project and other investment firms to help develop best practices to help address the impact that the loss of performance continuity through a leave of absence can have on an investment career. We are also an accredited ‘living wage’ employer.
Employee Resource Groups
We support a network of affinity groups coordinated by our parent company, BNY Mellon, which is open to all employees. The network includes:
Shares the knowledge capital, energy and range of talents within our diverse, multigenerational workforce to solve business challenges
Promotes awareness of the requirements of those with disabilities
Brings together people from multi-cultural backgrounds
Promotes an open and supportive environment for all gay, lesbian, bisexual and transgender (LGBT+) employees
Serves as a resource for the recruitment, retention, professional development and advancement of those in the military as they move to new careers and civilian life
Promotes a culture of leadership and sponsorship to recognise and support the professional development and advancement of women
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Careers at Newton
We seek to employ the highest caliber of staff throughout our business, and are always looking to attract talented individuals. We have an open and inclusive culture, and offer enriching careers, as well as competitive compensation and benefits, that retain individuals over the long term.