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.
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’ programme, 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.
Our hiring practices
We are working hard to ensure that our hiring practices are as inclusive as possible. We know we can do better in this area, for example by improving the racial diversity of our workforce and closing our gender pay gap, and we are seeking to do so via a number of recruitment initiatives. Among these are requiring a diverse slate of candidates for consideration for all open roles, using blind CVs, 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 programme for Latin American and black students in the US
A vocational trainee programme
in the UK which takes talented school leavers and offers them the chance to study for a degree alongside working full time at Newton.
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 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 calibre 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.