Momentum builds behind Australian initiative to grow diversity in investment management

Yolanda Beattie

The industry initiative dedicated to building gender-balance within Australia’s largest investment managers continues to grow, as Future IM/Pact announces an exclusive recruitment partner, and signs three more influential local investors.

Future IM/Pact has announced an exclusive partnership with Platinum Pacific Partners, leading financial services recruitment specialists.

Set to increase the impact of both organisations’ efforts to boost the representation of women in investment management, the partnership builds on Future IM/Pact and Platinum Pacific Partners’ shared passion for helping women launch fulfilling front-office careers.

Future IM/Pact Founder Yolanda Beattie said this partnership will accelerate Future IM/Pact’s ability to build a pipeline of future female investors who are well-placed for entry level investment roles.

“Because few investment teams recruit graduates, these roles usually require 2 to 5 years’ work experience. This strategic partnership allows us to connect with more exceptional women in key feeder roles like investment banking and corporate finance, while sharing the career insights Platinum Pacific Partners have gained over decades to help early career women land sought-after analyst roles,” she said.

Victoria Biggs and Meredith Jordan, Platinum Pacific Partners’ Founders, welcomed the partnership to deepen their impact on gender diversity in funds management.

“We see first-hand the industry’s desire to recruit more women and we know we must deepen the talent pool over time to meet the challenge. This partnership allows us to amplify our current efforts to champion female representation in finance,” Ms Biggs said.

New partners, new pathways

Separately, Future IM/Pact has welcomed three new partners to the program, in the form of the $70 billion profit-to-member super fund Rest, $19 billion international equity manager Platinum Asset Management, and leading private wealth manager LGT Crestone.

LGT Crestone Chief Operating Officer Michelle Inns said the firm was delighted to join Future IM/Pact as the first wholesale investor investment advice business.

Ms Innes added, “Investing on behalf of family offices, high net worth investors and for- purpose organisations presents incredible career pathways for women. Future IM/Pact helps us grow our female talent pool so we can continue to build high performing and diverse teams.”

Platinum Head of Investments Douglas Isles added the partnership with Future IM/Pact will help Platinum support more high potential women to launch an investing career.

“Thinking differently is the cornerstone of our investment philosophy and gender diversity is one way we can bring new perspectives to find the best investment ideas. We’re excited to join Future IM/Pact and are eager to play a leading in role in helping young women to build an investment management career,” Mr Isles said.

Rest Chief Investment Officer Andrew Lill said the profit-to-member super fund would use its partnership with Future IM/Pact to provide further opportunities for young women aspiring to investment management careers.

“Rest represents more than one million women in our membership, and are dedicated to promoting greater gender equality. Our partnership with Future IM/Pact builds on our existing program of offering internships to women in actuarial studies, while also helping us source great female talent for our investment team. It’s also consistent with Rest’s commitment to contribute to five of the UN Sustainable Development Goals, including ‘Gender Equality’,” said Mr Lill.

“Widespread industry collaboration is essential for tackling the entrenched structural and cultural barriers that stop women from becoming professional investments. With 23 partners now working with us to address these issues, we’re better placed than ever to shift the dial on this issue,” Ms Beattie said.

Since launching in 2018, Future IM/Pact has provided over 350 women with experience working in investments through its virtual intern program, mentoring circles, investment competition and intern and grad placements with partners.