Yale’s David Swensen Puts Money Managers on Notice About Diversity

SourceThe Wall Street Journal
SectorEconomy
CountryMiddle east

America’s most prominent endowment chief has a message for the firms that manage the school’s money: Hire more women and minorities, or possibly lose the university’s backing. David Swensen is the veteran investment chief of Yale University’s $31.2 billion endowment. Earlier this month, he told the dozens of firms that manage Yale’s money they would be measured on their progress increasing the diversity of their investment staffs. Mr. Swensen said the Yale Investments Office would be working to improve its own team’s composition, too. The national discussion over race has resulted in an accelerated push for diversity on boards and in companies across the U.S.

It has also prompted some investors to look at investment management, one of the ...read more...