PIMCO Creates New Diversity-Focused Senior Role
The Fundfire article, “PIMCO Creates New Diversity-Focused Senior Role,” quoted Russell Reynolds Associates consultant Deb Brown about diversity efforts and the importance of inclusion. The article is excerpted below.
PIMCO has named a nine-year veteran of the firm to the post of “inclusion, diversity and culture officer,” a newly created senior role.
Sapna Shah, who previously served as an executive v.p. in PIMCO’s institutional account management team in Newport Beach, will now “oversee and further advance PIMCO’s global initiatives aimed at cultivating a diverse and inclusive workplace,” an announcement from the firm states.
Managers’ efforts to attract and retain diverse talent have been “all over the board” – with some firms staying ahead of the game and others “playing catch up and staggering,” says Deb Brown, a consultant at executive search firm Russell Reynolds Associates.
In addition to diversity efforts, “the inclusion piece is also critical,” Brown adds.
Years ago, asset managers’ emphasis was on implementing diversity chief roles, instead of positions that also entailed an inclusion component and responsibilities, she explains.
“Diversity is great, but you also have to retain it. You’ve got to create an environment where people want to stay and feel very comfortable with who they are,” Brown says.
To read the full article, click here.