Far-left Senators Elizabeth Warren and Bob Menendez released a letter this week demanding more “women and people of color” be represented in “asset management” and “global financial firms.”
“Women and people of color are dramatically underrepresented in the field of asset management,” stated Senators. Bob Menéndez (N.J.), Elizabeth Warren (Mass.), Alex Padilla (Calif.), Tim Kaine (Va.) and John Hickenlooper (Colo.).
“Less than 1% of the $70 trillion in global financial assets under management are managed by woman or minority-owned firms. Women and people of color are also extremely underrepresented at the board and senior management levels at asset management firms,” the senators explained.
“This is a serious problem for the industry, investors, and the country as there is a wealth of data showing that greater diversity leads to greater profitability,” wrote the senators.