“We are proud of the diversity of our team.”
He obviously doesn’t care if they’re effective at their jobs, just what they look like.
The College Fix reports:
Reverend Al Sharpton demands Harvard disclose the diversity of school’s asset managers
In a letter to Harvard President Lawrence Bacow, the Reverend Al Sharpton pressed the university for disclosure of the “diversity” of the institution’s asset managers.
Specifically, Sharpton wants to know if there are any “African-American professionals” who help oversee the Ivy’s $40-plus billion endowment, The Crimson reports.
In the letter, the former Democratic presidential candidate and current president of the National Action Network said that a lack of diversity among the managers would be “a failure of Harvard’s ‘fiduciary responsibility.’”
“While the systematic exclusion of people of color and women from the management of endowment assets has been a question of social justice over time, today it is for me a question of fiduciary responsibility,” Sharpton wrote. “Study after study shows very high performing women and people of color, yet those same studies show under-utilization by asset allocators.”
From the story:
Harvard Management Company spokesperson Patrick S. McKiernan wrote in an emailed statement that HMC has taken a three-pronged approach towards increasing diversity among its asset managers.
“First and foremost, we seek diversity and inclusion amongst our team at HMC, including those who make decisions to allocate capital to external investment managers,” McKiernan wrote. “We are proud of the diversity of our team.”
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