Diversity matters

Wall Street Diversifies Itself

Wall street is an unlikely vanguard against corporate America’s diversity problem. The white shoes of investment management are still worn almost exclusively by white men. So it’s notable that the surging business of exchange-traded funds, or ETFs—investment funds that generally track an index like the S&P 500 and are traded on exchanges like stocks—looks a little different. The demographics of this slice of the financial-services industry haven’t yet been studied. But I recently spoke with roughly a dozen women and people of color working in ETFs who say that they see more diversity in their business than elsewhere in finance—and the anecdotal evidence is convincing. ….[READ]