Segal Marco Advisors has spent significant time and resources on diversity, equity and inclusion (DEI) initiatives internally and externally.
Our DEI efforts have a strong foundation in both our mission to deliver trusted advice that improves lives and our core values: respect, objectivity, learning, diversity, cooperation and quality. By living those values, we build long-term relationships with each other and our clients, as well as the community.
Significantly, our mission and values emerged directly from our organizational roots: from our clients and the work we do for them. Part of the origin story of Segal, Segal Marco’s parent company, is founder Martin E. Segal camping out at the docks in New York City to meet workers as they left their shifts in order to sign them up for benefits. These workers and their families were being discriminated against because they were perceived as too high risk to insure and, as a result, were asked to pay inappropriately high premiums or were denied insurance altogether. By partnering with labor and management, our founder created ways to bring affordable, high-quality benefits to these wrongly under-served populations. This work wasn’t called DEI in 1939 when the company was founded, but our commitment to DEI emanates from the same place and has many of the same goals.
One of our investment consultants is a member of the DEI Steering Committee that oversees and coordinates Segal’s strategic DEI initiatives and activities companywide. Another chairs the DEI Communications and Content Committee.
The Women’s Leadership Council, Segal’s first business resource group (BRG) was co-founded by a senior consultant who became our Chief Investment Officer. (BRGs are employee-led affiliation groups open to all employees.) We have three additional BRGs. BOLD is dedicated to the support, inclusion and celebration of racial and ethnic cultural diversity with a focus on the BIPOC (Black, Indigenous, and People of Color) community. Pride@Segal supports a diverse and inclusive environment at Segal and helps establish Segal's an employer of choice in the LGBTQIA+ community. Segal CARES connects, supports and advocates for all caregivers.
NEXT, which stands for National Exposure and X[cross]-Training, is a professional development program that a Segal Marco employee helped develop. It’s open to all non-officers and encourages education, networking and cross-training with peers.
During 2021 and 2022, several Segal Marco employees participated in Workforce 2023. These teams collaborated over a two-year period on enhancing four aspects of DEI at Segal and Segal Marco:
In 2023, the recommendations, tools, and programs developed by Workforce 2023 were absorbed into our infrastructure where we will support and continuously improve them going forward.
Many Segal Marco employees participate in the company’s mentorship program as mentors, mentees or both.
To learn more about these initiatives, read Segal’s 2022 DEI Report.
Our candidate sourcing efforts include connecting with minority, female, veteran and disability-related professional organizations. We have a national college recruiting program that has enhanced consistency and collaboration in our efforts to identify and attract diverse talent. We continue to make progress in increasing the diversity of our workforce by proactively recruiting diverse talent.
We hire paid interns as part of a formal internship program. When recruiting interns, we actively seek students who are members of underrepresented groups and women, along with other qualified candidates.
Half of Segal Marco’s officers promoted in 2022 are female, and 33 percent are people of color.
We have a Committee for Diversity Investing that meets biweekly to review investment managers from a DEI perspective. The committee is responsible for seeking out emerging and diverse investment managers and assessing their industry impact.
We’ve been monitoring the environmental, social and governance (ESG) aspect of investing for years. The “social” part of ESG encompasses DEI.
We survey investment managers about their internal ESG policies and practices.See the Survey
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