Reboot: Asset managers miss out on new business over lack of ethnic diversity

Reboot study

Ethnic diversity in the workforce has become an increasingly important factor for winning business for asset managers, according to a study by Reboot.

Around 21% of respondents to the global study said a lack of diversity in their companies could lose them new business. Reboot found this to be the second highest percentage globally, only behind the US, while a third claimed they did not know if a lack of ethnic diversity was hindering business growth – three times higher than any other international market. The push for greater diversity is also coming from institutional investors, Reboot found, as more than half (53.3%) claimed they valued the ethnic breakdown of a company when selecting a vendor or fund manager, while nearly 60% b...