Despite progress in recent years, women remain underrepresented in the investment management industry, occupying a fraction of positions in portfolio management and leadership roles. As a proud sponsor of Girls Who Invest (GWI), PIMCO is working to shift the gender balance in our industry, and at our own firm, by encouraging high-potential young women to consider investment management careers.
Through this partnership, PIMCO has hosted college sophomore interns in the Newport Beach, New York, and London offices for the past two years. In recognition of International Women’s Day, we asked Candice Stack, managing director and a board member of GWI, and David Forgash, executive vice president and portfolio manager in London, to share their perspectives on the program.
Q: How important is it to make this type of investment in the talent pipeline of women?
Stack: Diversity is a priority for the asset management industry and for PIMCO. Morningstar estimates that less than 10% of assets in the U.S. are professionally managed by women. And among the largest U.S. institutional investment managers, women make up only about 6% of chief investment officers. This has to change: We are an industry that understands well the positive impact of diverse thinking on performance and risk management.
We know that PIMCO can’t accomplish this on our own and are keen to form partnerships across the investment management industry and with our clients. Girls Who Invest has an ambitious vision of having 30% of the world’s investable capital managed by women by 2030.