As investors, we also hold our investee companies to high standards when it comes to diversity, equity and inclusion (DE&I) policies and practices, and we have seen first-hand how companies can reap the benefits of strong performance in this area through bringing together a wider set of ideas, perspectives and risks.
We recognize that it is crucial that we continue to play our part in making efforts to tackle the diversity challenges facing the asset management industry.
Newton employees share their thoughts and stories about various aspects of DE&I.
Diversity, Equity and Inclusion Council
Our Diversity, Equity and Inclusion Council, which is sponsored by two executive management committee members, promotes diversity of thought, background and experience within Newton.
The Council members, and our employee DE&I affiliates, who participate in Council initiatives on a project-by-project basis, support the achievement of our DE&I strategy through initiatives that include data collection and measurement, recruitment, retention and mentorship, policy and partnerships, and diversity education.
Since the Covid-19 pandemic, we have prioritized mental health support to employees. A dedicated mental health and wellbeing website launched in 2022, containing numerous resources available to all staff. We have also hosted guest-speaker events and launched an internal ‘Human@Newton’ podcast interview series, in which colleagues share their personal experiences to shine a light on some aspect of mental health, overcoming hardship or trauma, and building resilience. A program of resilience training has been rolled out across the company and has resulted in the development of mental health and wellbeing ambassadors across the company.
Our Hiring Practices
We continue to work to build a more diverse workforce. We seek to achieve this through:
• diverse interview panels, and diversity and inclusion questions in interview guides
• final candidate slates for all open positions including female and/or ethnically/racially diverse individuals
• unconscious bias training for managers
• a selective leadership development program, sponsored by our executive management committee, for high-performing diverse future leaders, and mentoring from the senior leadership team for diverse high-potential employees
• investment in a platform which champions women and broader diversity in the workplace to support and enhance our sourcing of diverse talent
• holding ourselves accountable through tracking our progress against our diversity objectives.
Among schemes in which we participate to increase the diversity of our workforce are:
a summer intern program for
Latin American and black students
in the US
and a vocational trainee program in the UK which takes talented leavers from London state schools and offers them the chance to study for a degree alongside working full time at Newton. This UK scheme has been running for many years, and we have seen many successful school leavers succeed and contribute meaningfully to the company.
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 are an active member of the Diversity Project, and through it we work with more than 100 other investment firms to share and develop best practices. Most recently, we have been heavily involved in the development of the Pathway program to double the number of female portfolio managers in London over the next three to five years.
We support working parents through family-friendly policies, and other resources that may include, depending on location, emergency childcare provisions, an online parental leave toolkit, a parental buddy program, and a program that supports parents currently on, or recently returned from, parental leave. We also offer carer resources to employees who may need support in caring for a family member.
We enable employees to work flexibly in most roles. We harness technology to improve connectivity and digital collaboration with clients and colleagues, and we believe this is key to attracting talent to our company. In addition, we are an accredited ‘living wage’ employer.
Employee Resource Groups
We support a network of employee resource 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 recognize 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.