US asset manger Legg & Mason has appointed Regina Curry as chief diversity officer, in a bid to reinforce its pledge for enhancing diversity at the group.
Curry joins Legg Mason from McCormick & Company where she previously worked as senior director of Global Diversity & Inclusion. She has a background in HR, having previously worked as HR director for the McCormick & Company US office.
Legg Mason’s CEO Joe Sullivan is one of 330 executives who signed the CEO Action for Diversity and Inclusion pledge, committing to enhance diversity and inclusion in the workplace.
A report released by Morningstar in 2015 revealed that less than 10% of the US fund industry are female. The report also highlighted that women exclusively run only 2% of the industry’s assets and open-end funds. By contrast, men exclusively run about 74% of the industry’s assets and 78% of funds, with mixed-gender teams accounting for the balance.
According to a Financial Times survey conducted last year, about a third of Legg Mason’s staff in the US are from ethnic minority backgrounds. The group has not disclosed how this is reflected on an investment management level.