Pe’er Krut is entering her third year of post-secondary education pursuing an Honours Specialization in International Relations at Western University. With her passion for governance and sustainability at hand, she recently completed the 10-week internship portion of the Women in Asset Management Program as an Environmental, Social, and Governance Intern at RBC Global Asset Management.
Picture your typical person working in asset management. What do you see? Prior to joining Ivey’s Women in Asset Management (WAM) Program, I could only visualize an individual pouring over corporate financial documents with the computer monitor displaying market data at all times. My internship with RBC Global Asset Management (RBC GAM) challenged my perception of the field, and allowed me to explore an incredible role that I never even knew existed. All in all, my time with WAM has taught me that the future of asset management welcomes women like me – people with a diversity of backgrounds, interests, and strengths.
A perfect match
One of the most difficult parts of the student experience can be figuring out where you see yourself post-graduation. A lot of the time, the roles we are introduced to throughout school are quite limited. That is why when I was placed at RBC GAM with the Corporate Governance and Responsible Investment (CGRI) team as an Environmental, Social and Governance (ESG) Intern, I had to read over the letter twice because I couldn’t believe such a role existed. I felt incredibly fortunate to have been placed with this team given that, during the in-class portion of WAM, the sustainable finance sessions with Associate Professor Diane-Laure Arjaliès were my favourite. I have always wanted to incorporate my passion for governance and sustainability into whichever career path I pursue, and this role showed me how I can leverage my unique skills and interests to make a genuine difference in people's lives by bolstering their investments.
The future of asset management
During my time with the team, one of my largest tasks was developing an ESG video series to reinforce climate literacy across the firm. The emphasis placed on this, as well as the important role that the CGRI team played in supporting the investment teams, really proved how important ESG considerations have become – certainly not the case 20, 10, or even five years ago. Very quickly, I began to understand the larger responsibility that asset managers have, needing to consider such environmental, social, and governance factors in the investment process, not only because of the ethical element, but because it lays the foundation for better and more sustainable long-term returns. As the world shifts to be more environmentally and socially conscious, the future of ESG in asset management becomes even brighter. I feel incredibly lucky to have explored such a rapidly growing and relevant space.
Enjoying the office
Like many others in my cohort, I have spent the past few years largely learning and interacting online. As a result, when I learned the internship would take on a hybrid model, I remember feeling the sense of both excitement and apprehension that often comes when faced with the unknown. Looking back at it now, the ability to interact with my colleagues in person was one of the most impactful parts of my internship experience. One time, stopping by my teammate’s desk to say good morning led to her inviting me to an important meeting with the Client Services team visiting from the U.K. Another time, Damon Williams, CEO of RBC GAM, invited all the interns to have breakfast with him where we had a really valuable chat about making the most of our internships. Ultimately, the conversations I had when I popped my head out of my cubicle to ask a question, or the post-meeting chats on the way back from the boardroom, proved to be the most valuable.
Meaningful mentors
Given the historic lack of women in asset management leadership roles, I felt incredibly fortunate that those I reported to – the VP, senior director, and analyst – were all women and genuinely wanted to support and guide me. In my weekly one-on-one chats with the senior director of my team, we discussed matters like office etiquette, presentation skills, and how to network meaningfully, among other things. Most of all, such conversations provided me with invaluable insight on how to navigate being a professional, and how to own my space as a capable woman – advice that only another woman could give. This experience taught me the importance of cultivating relationships with like-minded role models that were once in your shoes, as they too want to help support you as others might have done for them. These meaningful mentorships create an environment where more women, like me, feel empowered to pursue careers in this field, ultimately, helping to close the gap and change the future of asset management to be more inclusive and diverse.
