For the third year in a row, Ivey’s barrier-breaking Women in Asset Management program was in the spotlight as its students gathered at the Toronto Stock Exchange today to open the market.
Surrounded by 50 women in this year’s Women in Asset Management (WAM) cohort, Lyn Purdy, Associate Dean of Programs and an associate professor of organizational behaviour at Ivey, rang the opening bell and called for a celebration of the program. Launched in March 2022, the free 14-week program prepares undergraduate women for careers in asset management through four weeks of in-class training at Ivey and a 10- to 12-week internship at an asset management firm. Thanks to support from sponsors, the program has expanded each year, and this year was opened up to undergraduate women across Canada.
Addressing inequality in the asset management industry
Noting that women make up only 14 per cent of global fund managers and six per cent of chief investment officers at the largest U.S. institutional money managers, Purdy said the hope is that the program will change the course of the industry.
“Education is a powerful force in creating pathways to equity and these 50 bright young women are one example,” she said. “I hope our students will be at a reunion together 20 years from now and look back on this program as changing the trajectory of their career – and indeed the industry.”
Role models, mentorship, and support is key to change
Purdy said the commitment of 17 financial leaders has been a huge factor in the program’s success. In addition to funding, she said many of the program’s sponsors have taught in the program, participated in panels, and provided mentorship.
“To our many other sponsors who have provided internships and donated their time and expertise – thank you,” she said. “When we partner with businesses that want to make a difference in the culture, representation, and desirability of these roles for women, we can start a movement.”
The WAM sponsors include:
- (Benefactor level) RBC Global Asset Management and Scotiabank Global Asset Management;
- (Leader level) CIBC Asset Management, Mackenzie Investments, and PSP; and,
- (Partner level) AIMCO, BCI, BMO Global Asset Management, Brookfield, CI Financial, CPP Investment Board, Fiera Capital, Intact, OMERS, Polar Asset Management Partners, Sun Life Global Investments/Sun Life Capital Management, and University Pension Plan Ontario.
Watch a video from the event above.
