Kathleen Powers Dunlap, CEO of GIrls Who Invest, spoke at the Great Lakes ACG Capital Connection, where she talked about the lack of diversity in investment management.
Research suggests that diverse teams make good business sense—so where are the women in asset management, a field eclipsed by medicine, law and other professions that have developed more equitable gender representation?
Kathleen Powers Dunlap, a former institutional investor whose career has included roles at Barclays and Merrill Lynch, is attempting to reverse that trend through the nonprofit Girls Who Invest, where she serves as CEO. Founded in 2015, Girls Who Invest is targeting young women in high school and college from a wide variety of backgrounds, and offering them immersive exposure to the asset management industry.
Women and minorities manage less than 1.1 percent of assets within the $71.4 trillion global asset management industry, Dunlap notes. Only 10 percent of U.S. fund managers are women, compared with 63 percent of CPAs and 33 percent of doctors.
Girls Who Invest wants to see that figure rise dramatically, to 30 percent of global assets managed by women by 2030.