FIA strongly believes in the importance of diversity, equity and inclusion in the workplace and works hard to support and celebrate the diverse voices within our association and the derivatives industry at large. FIA ensures that the topic of DEI stays on the agenda across all our events and puts its words into action through mentorship initiatives and other opportunities. Here are some of the highlights from 2023:
FIA Board of Directors
Over the past five years, several women have been appointed to global leadership roles at some of our member firms and these changes are reflected in the composition of FIA’s Board of Directors. Presently, eight women leaders from the FCM community and other parts of the industry sit on FIA’s global board, led by Goldman Sachs’ Alicia Crighton, FIA’s first-ever female chair.
“FIA has benefitted from the transitions that firms are making and as leadership changes and succession plans come into play. Previously I was one of two women on the FIA board; now I am one of many with other minority groups represented as well,” said Crighton.
Promoting diversity across channels
In 2023, FIA featured dedicated discussions and sessions at our major conferences that considered practical steps for firms to take to create more equitable and inclusive workplaces.
Keynote speaker Keisha Bell, managing director and head of talent management and diversity, equity and inclusion at DTCC, provided her insights at our Boca conference on how organisations can drive a culture of sponsorship. FIA's Law & Compliance Division held a roundtable at its annual conference on what the derivatives industry – and lawyers and compliance personnel in particular – can do to promote, sustain, and engage on the topics of diversity and inclusion.
A dedicated panel discussion at FIA’s IDX conference in London considered ways to drive the DEI agenda to make a real difference within organisations. Clare Black, managing director at Streets Consulting, was joined by Harry Matovu KC, the founder and chair of the UK’s Black Talent Charter, and Pete Ward, deputy CEO at Leadership Through Sport & Business, to discuss DEI initiatives, in particular relating to race and social mobility.
At FIA Expo, Jahmal Cole, founder and CEO of My Block, My Hood, My City, a non-profit organisation in Chicago, took to the stage to give a talk on You Can’t Be What You Can’t See. Supported by several FIA member trading firms, Cole’s organisation works to boost educational attainment, break down barriers to segregation and counteract poverty and isolation.
In fireside chats, Tanisha Cole Edmonds, CFTC chief diversity officer and director of the Office of Minority and Women Inclusion, discussed how firms can recruit top talent from underrepresented or underserved communities, while Matt Hulsizer co-founder of options trading firm PEAK6 discussed the importance of diversity and why girls should be taught poker. The two-day event was interspersed with informal DEI networking sessions and meetups organised by Women in Financial Markets and a roundtable discussion on the future of work with a focus on diversity issues.
The Asset Management Derivatives Forum, co-hosted by FIA and SIFMA’s Asset Management Group, featured a roundtable discussion on how to expand a diverse pipeline of industry talent, among many other topics.
FIA also organised a discussion between CFTC Commissioner Kristin N. Johnson and high school scholars from The Greenwood Project on the importance of sponsorship. The Greenwood Project provides outreach to Black and Latinx students interested in pursuing careers in financial services.
On our website, FIA has published several articles on MarketVoice highlighting the latest industry diversity initiatives, along with podcasts and interviews with people making a real difference in DEI in our industry.
In exclusive interviews, six women leaders in the clearing business – Alicia Crighton at Goldman Sachs, Federica Mazzucato at UBS, Mariam Rafi at Citi, Emma Richardson at JP Morgan, Sharon Shi at GH Financials and Emma West at Bank of America – talked about their professional journeys and shared advice to women looking to advance their careers in the financial markets.
Supporting the UK Black Talent Charter
FIA is proud to be a supporter of the Black Talent Charter, an initiative aimed at improving the representation of talented Black professionals in the financial and professional services sectors in the UK and encouraging their progression to senior positions.
Data shows that men and women of Black heritage are the most underrepresented ethnic group in these sectors at senior levels and that the imbalance has not improved in years. The Charter aims to shift the dial through committed, meaningful action.
The Black Talent Charter takes some of its inspiration from the Women in Finance Charter launched in 2016 by HM Treasury. Its founders aim to increase the number of signatories to the Charter from around 20 currently to 100 or more over the next three years. As a supporter, FIA promotes the charter through our communication channels and IDX conference in London and aims to connect leaders in our network with the Black talent in their network.
The Greenwood Project partnership
FIA is a proud supporter of The Greenwood Project, a non-profit organisation focused on introducing Black and Latinx students to careers within the financial industry via paid summer internships in financial firms, academic instruction , and mentorships.
To date, The Greenwood Project has placed more than 400 interns in 50 companies around the world. Many of these interns go on to full-time jobs in financial services companies. FIA partners with The Greenwood Project to facilitate summer internships with our member companies.
Conferences and events
As well as providing forums for discussions, FIA continues to endeavour to increase the diversity of speakers and participants at our conferences, reflecting the policies of a growing number of our member firms.
Percentages of women speakers and attendees in the last year of FIA events were as follows:
| Conference % of women speakers | Conference % of women attendees |
| AMD forum 45% | AMD forum 35% |
| Boca 28% | Boca 22% |
| L&C 36% | L&C 40% |
| IDX 34% | IDX 28% |
| Expo 34% | Expo 24% |
| Asia 33% | Asia 27% |
We aim to have at least 30% diverse speakers at all our conferences and to host panels that include at least one woman or other diverse speaker. While FIA does not control resourcing within our membership community, we do have more influence on the profile of speakers in the area of keynotes. In 2023, these included:
-
Dr Stephanie Hare, researcher, broadcaster and author
-
Jahmal Cole, founder and CEO of My Block, My Hood, My City
-
Tanisha Cole Edmonds, CFTC Chief Diversity Officer and Director of the Office of Minority and Women Inclusion
-
Keisha Bell, Managing Director, Head of Talent Management and Diversity, Equity and Inclusion at DTCC
Fundraising
The FIA Operations Americas Golf Outing, which took place in the summer, raised money for local charities including The Greenwood Project and the Greater Chicago Food Depository. FIA’s IDX gala dinner and Boca and Asia golf tournaments raised money for Futures for Kids, a charitable foundation that raises funds for charities supporting the lives of disadvantaged children and young people around the world. FFK raises money for organisations such as Leadership through Sport and Business, a non-profit organisation that prepares bright young people who face disadvantages into secure, sustainable, careers in finance and other industries.
FIA Diversity Council
Within the association, FIA’s Diversity Council has organised training sessions for all staff with outside experts presenting on topics to raise DEI awareness, as well as hosted several Lunch and Learn sessions and activities to celebrate DEI events, festivals, and occasions throughout the year.
Next steps
FIA remains committed to addressing the importance of diversity and inclusion in our industry. This year will see a continuation of our efforts to promote diversity through communications, conference programming, and other channels. We believe it is important to work in partnership with the industry broadly and our members in particular to identify practical steps that can be taken to further this initiative.
