SOURCE: Franklin TempletonDESCRIPTION:
In Citywire’s first-ever Gender Diversity Awards on December 9, 2020, Franklin Templeton was named the winner in the “Regional Leader US (100+ managers)” category, which recognizes a large US asset management firm that has made strong progress with regard to representation of women in fund management and gender diversity practices.
The awards covered 16 categories. To draw up a shortlist of 35 companies across Asia, Europe and the US, Citywire used data from its Alpha Female report to look at the percentage of female managers at fund groups and the turnover rates of men and women over the past 10 years. Where relevant, they included tenure, which measures the average number of years the fund manager has run money with the firm.
A five-member judging panel selected the winners, after looking at questionnaire responses provided by the shortlisted firms, covering company-wide gender diversity practices and how gender issues are incorporated into investment decisions. Franklin Templeton highlighted its expanding practices and initiatives across hiring, talent management, retention and its investment process and industry engagement.
Practices and Initiatives – Highlights
In September 2019, Franklin Templeton joined the CFA Institute’s Diversity & Inclusion Experimental Partners Program. Over 40 participating firms are responding to the challenge to make the investment industry more inclusive.
Franklin Templeton partners with several community organizations that provide financial literacy and industry workforce development. Girls Who Invest (GWI) is one example of an internship program the firm engages with, to encourage women to join the financial industry.
“Through partnerships and internships, by showing the benefits of how our industry helps people achieve their financial goals, we aim to expand horizons at an early stage, when people are just beginning to think about possible careers and industries,” said Joanne Mallon, Franklin Templeton’s VP, Global Talent Acquisition and Diversity and Inclusion.
Women@FT was the firm’s first official business resource group (BRG), established 2013, and its members helped build the initial support structure for the firm’s Diversity Inclusion Executive Council in 2015. Women@FT has grown to by establishing local chapters across the globe to become the firm’s largest BRG, with women of all ages and stages of their careers, and male allies providing support.
The Inclusion Education Series (IES) launched to employees firm-wide in May 2020. Designed and developed by the employee-led BRGs, IES aims to increase awareness about inclusion, cultural sensitivity in the workplace and community, and to support employees in feeling safe to bring their whole selves to work. Through active participation in the 6-segment series, spanning 12 weeks, participants who completed the IES were designated Franklin Templeton Inclusion Champions. The Women’s segment examined different kinds of implicit and unconscious biases that women face in the workplace.
Succession planning is inherent in how teams at Franklin Templeton are managed; developing a strong talent bench and creating opportunities for advancement remains critical. Following recent retirement announcements in our Fixed Income and Equity teams, three women were promoted into key investment management leadership roles.
Jenny Johnson’s appointment to President and CEO in February 2020 has set in motion remarkable strides in terms of elevating the importance of inclusion in the workplace. Johnson, along with the firm’s Chief Diversity Officer, Regina Curry, in August 2020, are leading the firm in. expanding its firmwide D&I strategic plan, incorporating critical input from leaders and employees. Some key actions taken to champion gender, racial and ethnic diversity include:
- Reconfirmed Franklin Templeton’s commitment to the CEO Action Pledge for Diversity & Inclusion (D&I)
- Celebrated the International Women’s Day theme, Each for Equal
- Johnson opened the Women in Finance Summit in Florida in March 2020
- Johnson was appointed to the NYSE Board Advisory Council, which identifies and connects diverse board candidates to NYSE-listed companies seeking new directors.
- Launched dedicated D&I sections on all 70+ client-facing Franklin Templeton websites
- Five employees named as finalists for the Women in Investment Awards 2020
- Launched a new D&I benchmark assessment, developed by the Centre for Global Inclusion
Franklin Templeton is a corporate supporter of Catalyst, a global non-profit that work with some of the world’s most powerful CEOs and leading companies to help build workplaces that work for women and all marginalized groups.
And, we were proud to join the Corporate Call To Action working group, led by Connecticut State Treasurer Wooden and the Ford Foundation, alongside other companies committed to address structural racism and racial inequity.
About Franklin Templeton
Franklin Resources, Inc. [NYSE:BEN] is a global investment management organization with subsidiaries operating as Franklin Templeton and serving clients in over 165 countries. Franklin Templeton’s mission is to help clients achieve better outcomes through investment management expertise, wealth management and technology solutions. Through its specialist investment managers, the company brings extensive capabilities in equity, fixed income, multi-asset solutions and alternatives. With offices in more than 30 countries and approximately 1,300 investment professionals, the California-based company has over 70 years of investment experience and approximately $1.5 trillion in assets under management as of November 30, 2020. For more information, please visit franklintempleton.com and follow us on LinkedIn, Twitter and Facebook.
KEYWORDS: NYSE:BEN, Franklin Templeton, Citywire Gender Diversity Awards