Achieving diversity by expanding the pipeline

Liz Skinner [00:00:03] Welcome.Today I have with me, Amy O’Brien, global head for responsible investing at Nuveen. Thanks so much for joining us today, Amy. 

Amy O’Brien [00:00:14] Thank you for having me, Liz. 

Liz Skinner [00:00:15] Amy, tell us what your biggest challenge has been being successful in the financial services industry 

Amy O’Brien [00:00:23] From from my perspective, the biggest challenge was just considering a career in financial services in the first place. 30 years ago, when I was a college senior, it would have not been possible for me to imagine that I would have a career in this industry. I think the image and the culture surrounding it was really foreign to me, and I had no one in my family who who was in this industry or I didn’t have any role models. And so, you know, the biggest challenge is, again, overcoming the fact that I could even have a career in it. But I entered the world of ESG and impact investing and sustainable finance back in that in the 1990s. And the realization came to me that I had specialized expertize that was complementary, not contrary to the investment process. And then I could be an asset at a firm like the one I am now. So having no conviction and a good deal of patience also helped me overcome those challenges. 

Liz Skinner [00:01:24] What do you think the financial services industry could do to encourage more diverse individuals to feel like this is an industry that they can and want to be a part of? 

Amy O’Brien [00:01:37] Well, certainly in the 25 years I’ve been in this industry, I have seen a lot of change when it comes to issues around diversity, equity and inclusion. And just for a sec, I’ll paint a broader picture. I mean, firms in the industry really have to have core beliefs around the value that diversity brings to the industry. And at Nuveen, you know, we believe that we achieve better outcomes for our clients when money is managed by a diverse portfolio management teams, that diversity of thought and experience are critical to connecting with our clients and partners, and that action from the top is really essential for achieving an inclusive and diverse culture. So leadership in this space, at the firm, at the industry level now requires setting bold commitments around representation, how we’re showing up with clients at events and how we’re establishing true accountability for real change. And then lastly, you know, what are we doing to be more transparent as an industry? So I think the specific advice when it comes to fostering a more diverse employee base is that you really need to fish in different and more ponds when it comes to looking for talent. I know that back in 2004, when I was first looking at the job that I have now or the company I have now, I was told that I had a very eclectic resume and that eclectic resume turned out to be an asset, not a liability, and that I think that viewpoint should be more widespread now across firms. 

Liz Skinner [00:03:10] What advice do you have for a younger individual who is just getting into the financial services industry? 

Amy O’Brien [00:03:17] Have a realization, you know, your generation is bringing a new perspective and this is not only complimentary but vital to the future of the success of our industry. I think the good news here, Liz, is that the asset management overall is undergoing a transformation, and that represents a really genuine opportunity for for many to consider this as their career. But when it comes to a small steps and specific advice, I know that an earlier point in my career I was hesitant to ask for help that I thought that would be perceived as a sign of weakness. And so I encourage the generation to pivot to asking for feedback. Observe a colleague, a colleague who is making a really persuasive pitch or presentation, and then connect with them one on one and learn. I mean, really, most importantly, approach every day as a new way to learn something new. 

Liz Skinner [00:04:12] Amy O’Brien, thank you so much for joining us and congratulations on your Women and Asset Management Award. 

Amy O’Brien [00:04:18] Thank you, Liz. It’s been a pleasure talking to you.