Economic Uncertainty May Slow Manager Diversity Efforts: Recruiters

Economic headwinds, including the threat of a recession, may have a negative impact on diversity within the asset management industry, some recruiters told FundFire…

A slower economy will mean less hiring from outside the industry and less hiring in the bottom and middle ranks, said Alan Johnson, the managing director of Johnson Associates.

“If we’re having less intake, and that intake is more within the industry, we’re naturally going to have less progress on diversity,” he said. “I don’t think it’s a lack of will, I just think it’s the circumstances.”

FundFire / September 21, 2022