The Ledger
Every statement that passed quotation and attribution checks. Mix any filter with any other: certainty 1/5, debate potential 5/5, or both at once.
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Thomas: Internship diversity programs fail without diverse representation at executive levels
“I just don't fundamentally believe it's enough for firms to say, we really want to change our diversity, so our starting point and our focus is going to be the establishment or expansion of our internship programs. Now, let me be clear. I'm big on internship p…”
Thomas: Leaders must intervene directly when hiring processes fail to yield diversity
“If you're in a culture, and despite the best efforts to expand opportunity, and despite changing the processes, you're not getting better outcomes. It ultimately then falls on the leader to make some decisions, to, from time to time, actually put the thumb on …”
Thomas: Diverse Teams Solve Complex Problems Better via Varied Cognitive Toolsets
“Diverse teams are particularly well adept at solving more complex problems, and it's kind of a simple reason. It actually makes sense intuitive. Like, if you and I, like, once you get a certain level of IQ, everything above that is just limited incremental ben…”
Thomas: Northern Trust had female candidates interviewed without female panelists
“I found two instances where we had extraordinarily talented Female candidates come in interviewing our firm, and we have a reasonable amount of gender diversity. Not one single person on their interview schedule was a woman.”
Thomas: Client Retention in Asset Management Depends on More Than Investment Returns
“We talk about investment performance and it is important, but investment performance is mean reverting. Which means that even when you're a great investor, you're not gonna have the top, in a sense, performing funds or products or however you measure it all th…”
Thomas: Northern Trust set minimum diversity requirements on interview panels
“So one of the things that we did is both in terms of gender diversity and ethnic diversity, we set explicit expectations in terms of minimum representation on our interview panels. We also set new processes in place for the HR teams or the recruiting teams tha…”
Thomas: Nine of 15 Northern Trust AM leadership members are diverse
“Like, so if you look at our team today, we've got a leadership team with 15 people on it. Nine of the members of our team are either women or ethnically diverse. So, you know, we have six people who are ethnically diverse. We have six women. Some of that overl…”
Thomas: Northern Trust AM's 2008 leadership had zero women and one minority
“When I joined the asset management executive leadership team which was back in 2008, it was not a particularly diverse team. As a matter of fact, there was one gentleman who was an African American who moved to a different part of the organization when I joine…”