HOMESTATS | PUBLICATIONS | REGISTER | ADVERTISE | ARCHIVE | ABOUT US | CONTACT US



 Search the Archives of Target Market News

Click here for recent news stories and our news archive
____________________________________

THE LATEST NEWS JUST A CLICK AWAY!

 
Want more news on African-American media, marketing and research as it happens? Follow us on Facebook and Twitter and get ahead by staying ahead of the other industry sources.
____________________________________

STAY IN-THE-KNOW!
Are you getting the latest industry news when it happens via e-mail
?

 

Click here for free daily delivery of the Target Market News Bulletin
You"ll receive news of breaking stories, exclusives, updates and headlines on the latest developments in African American marketing and media

 

Federal Reserve of Chicago holds third summit on diversity initiative in financial services firms

(November 1, 2016) A coalition of financial services firms and the Federal Reserve Bank of Chicago held its third annual Summit last week. The initiative called the Financial Services Pipeline (FSP) seeks to increase racial diversity within Chicago's financial sector.

"The FSP is working hard to increase and retain the representation of African Americans and Latinos in our industry," said Valerie Van Meter, senior vice president, Federal Reserve Bank of Chicago and co-chair of the FSP Steering Committee. "We've identified that there's a problem and as a collective, we need to implement an aggressive plan to help us achieve our commitment to diversify the financial services industry."
 
The two goals of the FSP Initiative are to increase the representation of Latinos and African-Americans, at all levels, within Chicago's financial services industry; and improve the overall cultural competency within the region. The group plans to achieve these goals with three phases: Phase 1 (2013 to 2014) involved formation; Phase 2 (2015), included research and action planning; and Phase 3 (late 2015 - beyond) will involve implementation.

FSP Initiative members include Ariel Investments, Bank of America, BMO Harris Bank, CME Group, Discover, Federal Home Loan Bank of Chicago, Federal Reserve Bank of Chicago, Holland Capital Management, Illinois State Treasurer's Office, Loop Capital, Madison Dearborn Partners, Mesirow Financial, Morgan Stanley, Northern Trust, The Chicago Community Trust, The PrivateBank, U.S. Bank, Urban Partnership Bank, William Blair and Wintrust Financial Corporation.

"I think the Federal Reserve's Pipeline initiative is the right thing to do to get financial institutions into the room," said John Rogers, Chairman, CEO and Chief Investment Officer of Ariel Investments, "It's important to hear and understand how little has changed in the last 40 years. People assumed that we're continuing to progress. So by bringing people together they realize that things have not gotten better and effectively have gotten worse."

Rogers said that he is optimistic about FSP's potential to change the landscape. "I think Terry Mazany [president and chief executive officer for The Chicago Community Trust] has done a fantastic job in providing moral leadership on this issue. And it was great to see John Canning, [founder and chairman of private equity firm Madison Dearborn Partners] in the room, listening and staying for the entire presentation. A few people like that can make all the difference."

For further information visit http://www.fspchicago.org.

Click here for more recent news stories and our news archive


























































































 

 SAVE THE DATE! 




Hear insights and new research from
BlackDoctor.org
Burrell Communications
Ebony.com
IHS Polk Automotive
Nielsen
Target Market News
U.S. Census Bureau

...and more!

       PRESENTING SPONSOR



  
 CORPORATE SPONSORS

     


   
  

   

         

     

       
WALTON ISAACSON

              

  BURRELL COMMUNICATIONS

  CLICK HERE TO REGISTER NOW!  

______________________________________




ORDER TODAY AND SAVE!

The 19th Annual Edition

The Buying Power of
Black America

A dollar-by-dollar breakdown
of the Trillion-Dollar Black Economy

Published by
Target Market News

Click here to learn more and order the
print and digital copy today!

________________________________




 

TARGET MARKET NEWS
228 S. Wabash Ave.
Chicago, Il 60604
312-408-1881
Copyright (c) 2016 All rights reserved

info@targetmarketnews.com                     Supplier Services