Collaboration with Association of Asian American Investment Managers to Amplify AAPI Voices in Finance
New York, NY – May 3, 2021 – Montieth & Company, a global communications consultancy, proudly announces its partnership with the Association of Asian American Investment Managers (AAAIM), a respected national 501(c)(3) non-profit organization. Together, they aim to raise awareness about the underrepresentation of Asian Americans and Pacific Islanders (AAPIs) within the financial services sector.
The Association of Asian American Investment Managers stands as the sole U.S. organization dedicated to advancing AAPI investment managers. Led by CEO Jim Park, this non-profit comprises a coalition of both seasoned and emerging investment professionals committed to mentorship, facilitating access to capital, and educating the industry and the wider public about the prejudices faced by AAPIs.
Becky Nye, Director of Financial Services at Montieth & Company, emphasizes the role of PR professionals as gatekeepers to the media for financial institutions. She states they recognize the pivotal role they can play in addressing systemic racism within the financial services industry. This involves raising awareness about the limited representation of AAPIs in senior management roles and asset management, while also elevating their voices as experts in investment within the media.
A study conducted by AAAIM and Bella Private Markets, published in December 2020, unveiled a stark reality. Despite AAPI individuals constituting 6% of the U.S. population and contributing to 15-20% of graduates from the top 25 business schools, U.S. asset management firms predominantly owned by AAPIs manage just 0.7% of the industry’s assets.
Jim Park, CEO of AAAIM, underscores the significant contribution of Montieth & Company, stating that Becky and the M&Co team have generously dedicated their time to spotlighting the AAPI experience. AAPI professionals, he says, often face challenges in securing career opportunities and receiving capital allocation within the investment management sector, perpetuated by persisting “model minority” stereotypes. However, the data unequivocally demonstrates that while AAPIs contribute substantially as recruits in analyst roles, the barriers to their advancement remain exceptionally high. To achieve greater inclusion of AAPIs in investment and executive positions, he states that perceptions must be reshaped and the unique challenges faced by this diverse group brought to light.
Montieth & Company has actively supported AAAIM in its media and marketing endeavors. This includes the publication of an op-ed authored by Jim Park, titled “Asian Americans, Pacific Islanders Face ‘Bamboo Ceiling’ in Money Management,” featured in Pensions & Investments. The op-ed delves into how Emerging Manager Programs can serve as a platform to enhance representation among AAPI managers. Furthermore, Lananh Nguyen, a Bloomberg reporter, referenced data from the AAAIM/Bella study in a recent article highlighting the experiences of Asian Americans encountering racism in the financial industry. Brenda Chia, AAAIM co-chair, also seized the opportunity to address State Street Global Advisor’s decision to hold portfolio companies accountable for disclosing the racial and ethnic composition of their boards and workforce in a FundFire article.
As part of its commitment to diversity, equity, and inclusion initiatives, Montieth & Company has actively sought to support underrepresented voices, including AAPIs, in gaining media access. The company offers free virtual media training to both clients and non-clients as part of this endeavor. (Feel free to contact us for more information on how to participate.)
Montieth Illingworth, co-CEO of Montieth SPRG and CEO & Global Managing Partner of Montieth & Company, expresses their eagerness to continue collaborating with AAAIM in addressing the unique challenges faced by Asian Americans and Pacific Islanders in the financial services sector. This initiative, he states, aligns with the company’s broader work centered on diversity, equity, and inclusion.
For more information on membership and sponsorship opportunities with AAAIM, please visit their official website.
The Association of Asian American Investment Managers (AAAIM) is a nationally recognized 501(c)(3) non-profit organization dedicated to fostering diversity and inclusion in the investment management industry. Serving as a prominent advocate for the Asian American and Pacific Islander (AAPI) community, this investment management association strives to empower underrepresented groups through education, networking, and empowerment.
About Montieth & Company
Montieth & Company is a global communications consultancy specializing in delivering comprehensive, results-driven communication solutions. We help organizations achieve influence, fulfill their ambitions, and overcome critical challenges. With a flexible, integrated, and budget-efficient cross-border model, we extend our reach into numerous financial and media markets, operating through global hubs located in New York, London, and Hong Kong.
About Montieth SPRG
Montieth SPRG brings together “M&Co” a leading global PR agency with SPRG, Asia’s leading communications firm. Montieth SPRG serves global organizations in the Americas and EMEA across sectors that want to expand into Asia-Pacific. The firm’s highly integrated, flexible and efficient services and solutions produce high-value results that raise and build brand awareness and drive growth.