Gender Gap Grows: Endowments Keep Hiring Men to Replace Women CIOs
Aziza Kasumov, Alana Pipe
The FundFire article, "Gender Gap Grows: Endowments Keep Hiring Men to Replace Women CIOs," featured a quote from Russell Reynolds Associates Consultant Debra Brown in which she highlights the need for a stronger pipeline of female talent. The article is excerpted below.
Eight out of 11 female CIOs who recently left their posts at university endowments were replaced by men, according to Skorina. Out of the three female hires, none was a woman of color. Only one male CIO was replaced by a woman, and that occurred at a prep school: Phillips Academy Andover, where Kristen Landers Glantz took over as CIO from Michael Reist.
[UPDATE: Since the story was published, FundFire identified two more male CIOs who were replaced by women that were not included in Skorina's report. Kelsey Deshler took over for Jason Matz at Carleton College, and Katharine Wyatt followed after Eric Jones at Loyola University Chicago.]
“Many of those women were trailblazers of the industry and have not been replaced by women,” says Deb Brown, executive recruiter at Russell Reynolds Associates. “It’s unfortunate, but I don’t think it’s intentional. Our clients are always looking for diverse talent. That’s at the forefront of everyone’s mind. We just don’t have the pipeline of women that we should have.”
To read the full article, click