Mackenzie Investments Launches New Programs Aimed at Women to Help Create a More Invested World
There was a time, not too long ago, when the financial services industry was seen solely as an insular “boys club.” As recently as 2019, fewer than a quarter (21.9 percent) of senior leadership roles within firms were held by women. While there have been some notable – and long-overdue – improvements in gender equality in the financial sector, there’s still a sizable gap between those who identify as male and female in the industry.
But change is on the horizon.
And Toronto’s Mackenzie Investments – one of Canada’s leading investment management firms– is paving the way for gender equality in the finance and investments industry by breaking down long-standing barriers.
Mackenzie Investments is inspiring positive change by taking its gender equality and inclusivity focus to new heights. The firm’s Mackenzie Together community platform provides new support to female-driven educational partnerships and Canadian charities to create a more inclusive investment world by advancing women through education, financial security, and career opportunities.
To help mark International Women’s Day earlier this month, Mackenzie announced it would dedicate an additional $500,000 over the next five years to Canadian charities that support low-income women and their children through financial education and awareness. This commitment builds on Mackenzie’s impressive charitable legacy, which has exceeded $13 million in donations over the past 23 years.
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“We believe that the only way to drive true inclusivity, improve the balance of men and women working in our industry, and inspire the next generation is to be fully invested in change,” said Barry McInerney, President and CEO, Mackenzie Investments. “Our Mackenzie Together community program is designed to create a more inclusive investment world by supporting the collaboration of men and women, including advisors, investors, and the industry as a whole.”
Additionally, Mackenzie Together has announced a female-focused educational partnership with Ivey Business School to deliver the Women in Asset Management (WAM) program, an initiative designed to encourage more women to pursue careers in asset management. A first-of-its-kind in Canada, the program was designed to help the investment industry better engage and inspire women. Beginning in May 2022, WAM will deliver educational programming for students, provide meaningful internships, and foster a community of talented women interested in investment management, finance, and business.
“We’re thrilled to expand our existing relationship with Ivey Business School and honoured to be a Leader Level partner in the Women in Asset Management program,” said Lesley Marks, Chief Investment Officer of Equities, Mackenzie Investments. “This program will allow more women to access the amazing possibilities that come with a career in asset management and, as such, help to build a pipeline of capable and talented women investors.”
Through actions like those taken by Mackenzie Investments, the goal of seeing more female leaders in executive positions in the financial industry is starting to become a reality. As further evidence, a 2020 report from Boston Consulting Group estimated that women now control 32 percent of the world’s wealth, and they’re accumulating that wealth at a compound annual growth rate that is two percentage points higher than that of men.
The more inclusive investment world of the future will be one that supports the meaningful collaboration of men and women across the industry. And companies like Mackenzie will be front and centre in paving the way.
To find out more about Mackenzie Together and how to create a more invested world, visit here.