DAMI Asks Mercer's Clients to Pressure Mercer to Release Diversity Data
April 5, 2021 - Today, DAMI released a statement on its efforts to push Mercer to release its diversity data. See the full statement below.
For Immediate Release: April 5, 2021
Contact: Carolyn Clendenin, cclendenin@rabengroup.com, 347-869-7382
Diverse Asset Managers Initiative Pushes Clients of Mercer to Request Diversity Data from Company
Washington, D.C. - Last week, the Diverse Asset Managers Initiative sent letters to some of Mercer’s largest clients asking them to urge Mercer to release its senior manager data by race and gender. For years, Mercer -- one of the largest investment consulting firms in the nation -- has made statements on its commitment to diversity, but it has yet to release its own data.
Robert Raben, founder of the Diverse Asset Managers Initiative, issued the following statement in response.
“Mercer is now an outlier. The other top investment consulting firms have released their employee data by race and gender, and discussed publicly how they are moving toward improved inclusion. Mercer is hiding, and it’s no longer acceptable. They either employ Black professionals or they don’t. They either employ women in senior positions or they don’t. Why in 2021 would you refuse to disclose these facts?
“Mercer is one of the largest investment consulting firms in the nation. By refusing to release the data, it is clearly signaling that diversity is not a priority -- and that other investment consulting firms don’t need to care about it either. That’s despite the fact that mountains of research prove that diversity bolsters profits.
“Now we are going to Mercer’s clients to get them to ask Mercer a simple question: Why the resistance? And not just any clients, but those that appropriately pride themselves on their own efforts to diversify. We’re requesting that these large public institutions ask Mercer for the data, and to release that data publicly.
“We’re not going to sit idly as Mercer continues to ignore diversity. We’ll use every tool at our disposal to get the data and create much-needed change in the asset management industry.”
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The Diverse Asset Managers Initiative is an effort to increase the absolute number of, and assets under management by, diverse-owned asset management firms for institutional investors, with specific focus on public, corporate, faith and labor union pension funds as well as foundation and university endowments.