The National Gay & Lesbian Chamber of Commerce's 2010 Diversity and Leadership in Financial Services Awards dinner proved a major success, as hundreds of people came out to honor industry members and congressional champions who have demonstrated a commitment to workplace diversity and leadership.
During the Jan. 11 event at the New York Stock Exchange, the NGLCC honored executives in the financial services sector for their accomplishments, and hosted a number of members of Congress and the New York City Council. The Goldman Sachs Group, Inc. and Bank of America were presenting sponsors for the third year in a row, and ING was the presenting sponsor of the reception on the NYSE Trading Floor in advance of the awards dinner.
"These companies are leading the way in the financial services sector," said Justin Nelson, president and co-founder of the NGLCC. "It is their work that defines workplace diversity here and around the globe, and we are pleased to honor them for their continuing commitment to building diverse and accessible workplaces and supply chains."
John Taft, head of the U.S. division of RBC Wealth Management and CEO of RBC Capital Markets Corporation, was given the Outstanding Corporate Diversity Leader award this year for his work on behalf of GLADE, the corporation's LGBT employee resource group. Each year, the NGLCC gives the award to a corporate champion who has demonstrated a commitment to not only LGBT employees but also to the LGBT community. Under Taft's direction, RBC amended its non-discrimination policies by adding gender identity and expression, which allowed the company to receive 100-percent score on the HRC Corporate Equality Index.
This year's runners up for the Outstanding Corporate Diversity Leader award were Emilio Egea, vice president of human resources and chief diversity officer at Prudential Financial, and Hannah Grove, executive vice president and head of global marketing at State Street Corporation.
"Our three finalists for this year's award are all strong allies of the LGBT community," said Richard Oceguera, director of membership and corporate partnership at NGLCCNY, who presented the award. "In varying roles within both their professional and personal lives, they exemplify diversity and inclusion every day."
The 2010 Financial Services Diversity Corporation of the Year award went to Morgan Stanley for its vigorous work in expanding diversity programs and outreach, its perfect score on the HRC's Corporate Equality Index (CEI) every year since 2006, and its decision to include LGBT-owned businesses in its diverse supply chain.
"Morgan Stanley's 360-degree approach to the [LGBT] segment is what sets it apart," said Diana Domenech Mott, vice president and supplier diversity manager at JPMorgan Chase & Co., who presented the award after receiving the same honor on behalf of her corporation in 2008. "As a financial services company with strength of purpose, Morgan Stanley understands that in order for a company to receive loyalty and commitment from the LGBT segment, loyalty and commitment must be shown to the LGBT segment. Morgan Stanley knows that outreach does not only entail advertising dollars, but also building strong partnerships with LGBT clients, customers and organizations."
The runners up for the 2010 Financial Services Diversity Corporation of the Year award were Ameriprise Financial and Bank of New York Mellon, both of which have also received perfect scores on the CEI for several years.
RBC Wealth Management received the 2010 award for Excellence in LGBT Marketing and Outreach, for its unmatched inclusion of the LGBT community in its marketing and outreach efforts to reach the LGBT segment. Specifically, RBC offers genuine portrayals of LGBT people and their families in its advertisements, and the corporation's financial planning materials are always personalized to address the unique needs of LGBT business owners and families. Examples of slogans used in RBC's advertising are: "Some kids have their dad pay for college. Some kids have moms who plan for their education;" "If you thought coming out was hard, try retiring without a financial plan;" and "Planning for the dreams of the LGBT community."
"RBC knows that now, more than ever, it is important to build bridges through effective outreach and marketing to diverse segments that can positively impact the company and its bottom line," said NGLCC chief of staff and director of affiliate relations, Kate Karasmeighan, who presented the award.
Runners up for this year's Excellence in LGBT Marketing and Outreach award were Allstate and Aetna, both of which ran LGBT-focused advertising campaigns in 2009.
The Chairman's Trust Award was given to president and COO of Goldman Sachs, Gary Cohn.
"Gary Cohn has long been a strong corporate ally of the segment and is receiving this award because of his constant and outspoken support of Goldman Sachs' LGBT employees and the LGBT community in general," said NGLCC board chair, Walter Schubert, who presented the Chairman's Trust Award to Cohn.
The 2010 LGBT Program/Initiative of the Year was awarded to Wells Fargo Advisors for its Accredited Domestic Partnership Advisor (ADPA) program. Wells Fargo strives to be known as the firm where LGBT clients are the most welcomed and best supported, and it has partnered with the College for Financial Planning to support the unique financial planning needs of couples in domestic partnerships.
"Wells Fargo Advisors understands that while some of the financial planning needs of the LGBT community are the same as those faced by their heterosexual counterparts, questions of legality and laws varying from state to state can make financial planning for some same-sex couples more complicated and confusing," said NGLCC co-founder and CEO, Chance Mitchell, who presented the award. "The ADPA program ensures that some of the most difficult financial decisions faced by people in committed relationships are not made more difficult simply because they are LGBT."
Other finalists for the award were ING's GALA Network, a program that promotes inclusiveness, understanding and support among colleagues and increases awareness of LGBT issues within the corporation worldwide, and JPMorgan Chase & Co.'s many programs launched to benefit the company's LGBT and allied employees.
The NGLCC also recognized U.S. Sen. Chuck Schumer, D-N.Y., as the 2010 U.S. Senate Congressional Champion. Nelson said Schumer's long history of public service and support for LGBT legislation, coupled with his sponsorship of hate crimes legislation, ensured his recognition.
"Senator Schumer is a tireless champion of LGBT equality measures with a record to show for it," Nelson said.
Rep. Carolyn Maloney, D-N.Y., was honored with the 2010 NGLCC House Congressional Leadership award for her accomplishments in public office, including her support of LGBT legislation and authoring the Credit Card Holders Bill of Rights. Specifically, Maloney is a strong proponent of a fully inclusive Employment Non-Discrimination Act, and was a firm and vocal supporter of the fully inclusive hate crimes bill.
"She is smart, she is compassionate, and she believes in challenging individuals and industry to do better," Nelson said. "She is a leader, she is a champion of small business people, and she is a champion of equality and a friend of the NGLCC."
Nelson announced that next year's event will grow even more inclusive by working with groups representing people of color, women and persons with disabilities to create the and first annual all-segment diversity event in the industry.
"With all the negative news in the press about the financial services industry, it's a good idea to take time to pause and realize that these firms employ thousands and thousands of everyday Americans, and their commitment to diversity ensures many of them are people of color, women, LGBT people and persons with disabilities," Nelson said.
Also in attendance at the event were Rep. Eric Massa, D-N.Y., Rep. Jerry Nadler, D-N.Y., New York City Council Speaker Christine Quinn, and New York City Councilman Daniel Dromm.
Visit the NGLCC's Diversity and Leadership in Financial Services Awards page for more information, and check out the photo album for photos from the event.
