THE W RAP- UP / /
Backstage KATIE MULLIGAN: Two years ago, the killing of George Floyd sparked racial justice protests, as well as a lot of corporate statements about commitment to diversity, equity and inclusion. Since then, how have each of you seen attitudes and strategies evolve, and have organizations followed through with the commitments they made?
Moving the Needle on DE&I in Finance Two years after the death of George Floyd brought social justice and systemic racism concerns to the forefront of American corporate discourse, business leaders continue to drive progress within their spheres of influence, with diversity, equity and inclusion initiatives. Three panelists offer their observations of how the corporate community has responded in the wake of Floyd’s killing, sound off on some of the barriers to implementing DE&I initiatives and provide practical advice for others in the corporate finance space pursuing similar goals. A condensed conversation that originally appeared on GrowthTV follows. DEBORAH GALLEGOS Managing Director, Palladium Equity Partners
MARLON NICHOLS
Managing General Partner, MaC Venture Capital
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middlemarketgrowth.org
DARIO DE MARTINO Partner, Allen & Overy
KATIE MULLIGAN Moderator
DEBORAH GALLEGOS: I think that the attitudes have evolved to now acknowledging and recognizing that DE&I is an issue that needs to be addressed, so that’s very positive. One thing I think is also very positive is that people are now attaching metrics to measuring DE&I. And it’s not just a discussion that’s taking place, but it’s actually something that people are starting to measure, so that we can see progress going forward. MARLON NICHOLS: For me, it’s about dollars flowing into Black and brown fund managers, and we have seen a small uptick there. I’d say there has been some traction. A number of corporations made pledges and they’re following through on that. The question is: What happens after that initial outflow of capital? Do you continue to participate? The jury’s still out on that, but there was an initial bump. DARIO DE MARTINO: I think there’s been more sustained focus on systemic barriers. More resources are being placed to advance DE&I. There’s just a greater willingness to engage in DE&I. That said, if you look at demographic data about race, ethnicity and gender stats for large law firms two years ago and compare it against stats from this year and ask yourself what has changed,
