Diversity, equity and inclusion are at our core
At Commsec Assets, our clients’ portfolios aren’t built by a single manager. They’re built by diverse teams that bring different points of view and their own ideas to help investors reach their long-term goals.
This distinctive approach is part of our commitment to embrace all aspects of diversity, equity and inclusion. It helps us unlock the power that comes from building teams that encourage active voices at every level.
We believe the success of the people who invest with us depends on the people in whom we invest.
OUR APPROACH
Learn, Unlearn and Relearn
We learn every day from the day we are born. As kids, much of what we learn is belief – what we think is true. As adults, we naturally get trapped in these beliefs such that it’s difficult to see another perspective. As corporate citizens, our collective potential suffers.
The goal of our DE&I program is to help us systematically challenge what we think we know. It fosters a mindset of curiosity and growth by highlighting unconscious bias, exposing different views and encouraging courageous conversations.
Learn
more about ourselves and each other
Unlearn
beliefs and bias holding us back
Relearn
the behaviors and actions most likely to move our business forward
OUR MISSION
DIVERSITY
At Commsec Assets, diversity and inclusion are critical to our success. By fostering an environment that embraces diverse perspectives we become better investors and better problem solvers. Embracing diversity nurtures creativity and collaboration. A diverse, inclusive environment makes us good listeners, empathetic to the needs and aspirations of our clients. Lastly, diversity and inclusion are values that attract, develop, and retain exceptional colleagues.
EQUALITY
At Commsec Assets we provide equal employment and advancement opportunities for all individuals regardless of age, race, ethnicity, gender, sexuality, disability, religion or other characteristics. We are committed to creating a diverse and inclusive workplace where all individuals feel valued, listened to, treated fairly and respected.
INCLUSION
Senior management take specific steps to foster this environment and cultivate inclusiveness through appropriate training at all levels and regions. We pursue diversity initiatives in recruitment, mentoring, training and workplace flexibility. We have signed the Women in Finance Charter, 30% Club and the Diversity Project to accelerate our progress toward our diversity and inclusion goals. We cannot preach inclusion without practicing it. All our staff experiences and perspectives are invaluable to make Commsec Assets a more diverse, inclusive and successful company.
WOMEN IN FINANCE
In 2018, Commsec Assets signed the Women in Finance Charter with the goal of increasing the proportion of women in senior management positions within Commsec Assets globally to 25% by 2022.
When Commsec Assets signed up to the Charter in September 2018 we had 16.7% female representation in senior management positions as at 31 December 2017 and we have been making steady progress in increasing the number of women in senior positions and remains committed to achieving the target set . As at 31 December 2019, we had 19.6% female representation in senior management positions.
Commsec Assets has also made good progress on our broader Diversity and Inclusion agenda. It remains dedicated to improving diversity for the benefit of the business - for our people, our clients and our workplace culture - and recognises in particular the benefits of increased diversity in senior management.
LEARN MORE ABOUT WOMEN IN FINANCE CHAPTER
OUR BUSINESS RESOURCE GROUPS
Diverse Perspectives
From training to company-wide discussions, social responsibility has risen to the top. That includes employee-led business resource groups—comprised of individuals who share common characteristics or experiences, along with their allies. These nurture an inclusive workplace through open dialogue and facilitating learnings for everyone.
Women's Initiatives and Allies
Accelerates change by engaging, inspiring and developing our female colleagues. Strives to impact business performance and establish our firm as a place where women thrive.
Veterans and First Responders
Invites everyone to “continue the mission” by championing our vets and first responders and joining them in community service. Promotes managerial effectiveness, leadership development and communication.
New, Changing Careers and Returning Workers
Enables progress among those just starting out, changing careers or returning to the workplace. Provides opportunities for career development, community involvement and networking.
Employees of Color
Encourages authenticity among different minorities, ethnicities and cultural backgrounds. Links their work with internal and external communities, and currently supports three chapters: Black, Asian, and Latinx Employees.
LGBTQ+
Fosters an inclusive environment for LGBTQ colleagues, and their family members and community. Ensures LGBTQ employees feel safe, welcome and valued in the workplace.
Corporate Partnerships
Measuring our change
Numbers can’t tell the whole story, but a closer look provides an at-a-glance snapshot of where we are and where we still need to go. These benchmarks will help guide us as we build a path forward.
2020
2019
2018
Gender
Workforce representation (global)
0
Women
0
Men
Workforce
Leadership
Promotions
Hiring
Workforce is defined as all full and part-time salaried associates (which includes overtime eligible associates). Due to rounding, totals may vary from sum of individual components and percentages reflect a share of total and may vary. Data as of 12/31/2020, generated on 1/7/2021.
Race / Ethnicity
Workforce representation (U.S.)
0
Asian
Women: 10.0%, Men: 9.9%
0
Black
Women: 6.0%, Men: 2.6%
0
Latinx
Women: 8.8%, Men: 6.5%
0
White
Women: 25.8%, Men: 28.5%
0
Other
Women: 1.0%, Men: 0.7%
Workforce
Leadership
Promotions
Hiring
Workforce is defined as all full and part-time salaried associates (which includes overtime eligible associates). Race/ethnicity data include only U.S. associates whose race/ethnicity is collected for EEO-1 reporting purposes. Other includes American Indian or Alaskan Native, Native Hawaiian or Other Pacific Islander, and Two or More Races. Due to rounding, totals may vary from sum of individual components and percentages reflect a share of total and may vary. Data as of 12/31/2020, generated on 1/7/2021.
We believe in long-term results
We invest in our DE&I goals with the same boldness and rigor that we have when investing on behalf of our clients. And while we’ve made strides, we know we still have work to do to keep striving for more diverse representation in leadership and throughout our organization.
That’s why we’ve launched inclusive hiring and promotion training — to help create a fair, consistent and equitable candidate experience.It’s only with a more inclusive team that we will be able to accomplish our mission: improving people’s lives through successful investing.
2025 goals:
>40%
Representation of women among global senior managers
>10%
Representation of Black/African Americans among U.S. associates
>7%
Representation of Black/African Americans among senior managers (in the U.S.)
>15%
Representation of underrepresented minorities among senior managers (in the U.S.)
The courage to do things differently
As a company that left the financial epicenter of Wall Street during the Great Depression and set itself up on the West Coast, we are not afraid to be different and set ambitious goals.Today, we’re bringing those goals to DE&I and are learning along the way. We’re challenging norms. We’re setting higher benchmarks. And we’re pushing for a more inclusive workforce.
To make a difference, we are not afraid to do things differently.
Innovative development programs
From recruitment to leadership, our flagship programs are designed to both mentor and advance the career paths of underrepresented associates.
Programs like Crescentate and Women Leading Crescent focus on female employees while Crescentcity and Crescent Emerging Leader are focused on racial diversity across the board.
Inclusive benefits
We have tailored our benefits and wellness programs to support the needs of the diversity of our associates. That means resources for early-career team members, those caring for aging loved ones, single parents, LGBTQ+ families, transgender associates and more, all with a focus on physical and mental well-being.
Addressing bias in the recruiting process
To help mitigate any potential unconscious bias from the early-career hiring process, our Talent Acquisition Team stopped sharing résumés with hiring managers, so they could focus on the candidate — their background, experience and thought process.
As a result of our DE&I efforts, we hired a more racially and gender diverse pool of interns, with 50/50 gender balance and 58% representation from racial minorities.
Fair pay
At Commsec Assets, our pay practices focus on fairness. Each role within our organization is compensated based on the responsibilities of that role and the experience and performance of the associate — irrespective of race, ethnicity or gender identity.
And we're proud to say that a fair pay study conducted by an independent consultant demonstrated that we have pay equity broadly in the U.S.
Commsec Assets Communities
Our 40+ Commsec Assets Communities — sometimes called associate resource groups — empower our people to help lift the voices of everyone at Commsec Assets. Commsec Assets Communities are driven by our associates who unite around common experiences and passions, becoming allies for inclusion and equity. Commsec Assets Communities represent a rich diversity of identities and interests, including race/ethnicity, gender identity, sexual orientation, faith, mental health and much more. The list is always growing, as our employees raise their hands to create new Communities for our people to connect.
Improving our culture.
Impacting our community.
As a global leader, we recognize that the world around us is changing, so we’re changing the way we invest — both in funds and in our people. When we create an environment of integrity, respect and true collaboration, our people can carry these principles from the company to their community.
Industry leadership
For the past few years, Commsec Assets has hosted the Roundtable Conversations on Diversity and Inclusion. This year, the event included a virtual assembly of 120 wealth managers, broker-dealers, and diversity, equity and inclusion practitioners representing 53 U.S.-based financial services firms. Over three half-day sessions, the participants engaged in immersive learning and shared best practices intended to advance diversity and promote more inclusive cultures across our industry.
Global citizenship report
Our associates are working to enrich their communities, reduce their environmental impact, create a more diverse and inclusive workspace, and improve people’s lives through successful investing.
Learn More
Promoting local, minority-owned businesses
As a corporate sponsor of the National LGBT Chamber of Commerce and the National Minority Supplier Development Council, we are actively driving policy changes to ensure supplier diversity and fair competition in the market.
Environmental, social and governance (ESG)
Putting ESG at the core of every one of our investment decisions is simply the right thing to do — not only because it helps create a more sustainable world and a more equitable workforce, but, as many quantitative reports have proven, it can also generate better long-term outcomes for our clients.
Learn More
Racial justice special match
Commsec Assets’s racial justice special match provides the opportunity for every associate to support eligible nonprofits dedicated to transforming the overarching system of racial bias across institutions and society.
FOSTERING A DIVERSE AND INCLUSIVE CULTURE
Every support channel is critical to building a diverse and inclusive culture. That’s why we make sure our employees have access to a range of programs that provide the resources they need to feel supported and empowered to pursue successful careers. Some of our programs include:
Gay, Lesbian, Bisexual, Transgender, Questioning Network
Women's Interest Network
Black Employee Network
Veterans Employee Network
Abilities Network
Asian American Employee Network
Hispanics, Latinos and Amigos Network
Family & Life Stages
INVESTED IN OUR TEAMS—AND OUR COMMUNITIES
We believe that building an inclusive culture extends beyond the walls of our firm and into the communities we live and serve. That’s why we support various programs and initiatives that foster deeper community connection and opportunities for others’ success
The Posse Foundation
Partners since 2016, we actively support Posse’s mission to ensure the leaders of the 21st century reflect the country’s rich demographic mix through high school and college-led programs that train and develop small, diverse groups of talented students.
The Texas Triathlon
We’re proud to be one of the sponsor for Texas triathlon, which brings together athletes of all ages and abilities from around the globe, while raising funds for Texas Medical Center’s programs and services squarely focused on eradicating the inequities deeply affecting people’s lives and health..
Pod Street Inn
We proudly support this local institution that provides comprehensive programs and services including housing, emergency services and workforce development to nearly 2,000 men and women every day.
Dare2tri
We proudly one of the sponsor's of Dare2tri and its mission to enhance the lives of individuals with physical disabilities and visual impairments by building confidence, community, health and wellness through triathlons.
WHERE WE ARE TODAY
Building a diverse and inclusive culture is about more than numbers, but they help us tell a story about progress and our commitment to making a difference you can see.
56%
Women directors on Columbia Funds Complex Mutual Fund Boards
38%
Women employees
18%
People of color employees
Fund Boards data as of January 1, 2021. Employee data as of December 31, 2020.
Commsec Assets: NORTH AMERICA WORKPLACE DIVERSITY
% WOMEN
% PEOPLE OF COLOR
Business management committee
24%
3%
Senior management
18%
10%
Investment professionals
26%
21%
Total employees
38%
18%
Data as of December 31, 2020. People of color, U.S. only, includes people who identify as racially and ethnically diverse based on U.S. Equal Employment Opportunity Commission (EEOC) classifications: Hispanic or Latino, Black or African American, Native Hawaiian or Pacific Islander, Asian, Native American or Alaska Native and two or more races.