Today, NeuGroup takes pride in recognizing and honoring the significance of Juneteenth in American history.
Juneteenth is celebrated as a day of freedom, remembrance and reflection on the history of slavery and the ongoing struggle for racial justice. We are committed to doing our part to creating an equitable society and will continue to support the efforts of NeuGroup members, sponsors and partners who join us.
Through our ongoing insights and meetings focused around DEI, NeuGroup offers a space for members to share and learn on ways to expand meaningful opportunities for diverse finance professionals and to support diversity and disadvantaged minorities in communities where they do business.
Here are some relevant takeaways, insights and suggestions to consider:
Creating Useful Relationships. NeuGroup’s D&I Financing and Asset Management Survey reveals that treasury is not only pushing for increased involvement with minority-owned firms but is also the driving force behind companies’ attempts to establish more comprehensive financial connections with these firms. While a formal policy to regulate the amount of business directed to minority-owned firms is absent in 88% of treasury organizations, most have informal guidelines and are actively seeking greater engagement.
Diverse Talent in Corporate. In an interview with NeuGroup Insights, Tim Muindi, the treasurer of ServiceNow, said finance leaders struggling to find more Black candidates may not be searching in the appropriate areas. He suggests trying to meet them where they are. Several members propose collaborating with the National Association of Black Accountants (NABA) and The Robert Toigo Foundation, industry groups that are known for helping companies connect directly to potential candidates through job postings, mentorship and in-person job fairs.
Expanding the Representation of Minorities. In the last several years, corporates have expanded efforts to address diversity, equity and inclusion concerns in their businesses. In a recent NeuGroup meeting, Megan Neuburger, group head for North American corporate ratings at Fitch Ratings, led a discussion on the current state of expanding opportunities for women in treasury and also how leaders can better engage allies and mentors to attract and retain diverse talent. One major takeaway: “You don’t have to ‘be’ to belong”.
Firsthand Experience. Loop Capital’s Sidney Dillard and Sobani Warner of Siebert Williams Shank sat down with NeuGroup’s Andy Podolsky, head of NeuGroup for Diversity, Equity and Inclusion, during Black History Month to discuss their career paths and how corporates can focus on diverse-owned firms by providing more meaningful, active roles in capital markets transactions and more. You can listen to the full conversation on Apple or Spotify.
As we keep engaging in these meaningful conversations and sessions, we invite you to explore our upcoming 2023 DEI sessions that delve deeper into these issues and break down the most effective solutions:
7/27 Member DEI Initiatives Update: Representatives from three NeuGroup member companies will provide updates on their current D&I initiatives, share their latest insights and best practices and discuss key takeaways.
9/21 Using DEI Firms for Share Repurchase Execution with Penserra Securities: Join Hispanic-owned DEI Firm Penserra Securities as they provide a case study of a recent share repurchase transaction.
10/4 Latest DEI Topics, Trends and Solutions Discussion with CNote: Cat Berman of CNote (a leader in the world of DEI initiatives) joins the DEI group with an update on the current environment to increase diversity in corporate treasury.