Connecticut's Treasurer, Shawn Wooden, is holding powerful institutions accountable for their abysmal diversity stats. For him, it's personal.
in the Hartford Courant, Wooden detailed how, as the father of Black teenagers, he'd had"the talk" with his elder son, prompted after Wooden was"pulled over for allegedly turning without signaling."
Months after the piece was published, Wooden and the Ford Foundation formed a coalition of CEOs in financial services, including Jenny Johnson, Franklin Templeton's chief executive, to tackle racial economic disparities. to disclose the diversity data they filed with the Equal Employment Opportunity Commission this year, including AllianceBernstein, Franklin Templeton, Invesco, and Wellington Management.
"He's been working on racial-equity issues since we were kids, and he was an important part of the electoral machine for Carrie Saxon Perry," Gray said."She was a friend and a mentor to him since he was a very young man, but she also ran on a platform of diversity, equity, and inclusion — and that was long before we even knew what those words meant."
Arulampalam, who also served as the former deputy commissioner for Connecticut's Department of Consumer Protection, said he was a summer intern at Day Pitney when he first met Wooden years ago. "It's funny. As a person, he is pretty laid-back," Gray said."As an attorney, he was really bright, but really intense.""In bond work, you get it wrong, and a whole business can go bankrupt. The margin for error is close to zero," Gray said."You don't get to make mistakes. He practiced in a really complex area of law and made it look easy. He's a really sharp guy.
"There's more flexibility for me to proceed" when it comes to incorporating these policies into the pension system's operation than in some other states, Wooden said. For some state treasurers who care about these issues,"it becomes helpful to have legislation passed and making certain things requirements," he explained.
Tina Byles Williams, the CEO, CIO, and founder of Xponance, a money manager in Philadelphia with more than $12 billion under management, called Wooden's diversity requirements laudable.
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