'It was always a struggle for Wall Street to hire African Americans,' Loop Capital Chairman and CEO Jim Reynolds told CNBC.
told CNBC on Thursday that building a diverse team has not been a challenge for the Chicago-based investment bank.
"I have found it so amazingly easy to recruit minority candidates — African American, women — and promote them very easily because I focus on talent," Reynolds said onReynolds' comments come as the U.S. experiences widespread protests around racial inequality and police brutality, following the killings of Black Americans such as George Floyd, Ahmaud Arbery and Breonna Taylor.
Reynolds said he believes diversity on Wall Street overall is worse now than it was in the early stages of his career, which began in 1982 as a bond trader. He spent time at PaineWebber, later acquired byand then went on to manage Midwest municipal bond sales for Merrill Lynch. He co-founded Loop Capital in 1997.
Loop Capital CEO Jim Reynolds attends the buildOn Chicago Dinner at Hilton Chicago on June 1, 2017 in Chicago, Illinois."It was always a struggle for Wall Street to hire African Americans, and I never figured out why," said Reynolds, who referenced conversations he has had with other Black industry peers. "We think, collectively, there were more African Americans on Wall Street in the 1980s, when we all came in, than there are today, which is an amazing, amazing statement to make.
Reynolds noted that Loop Capital has African Americans serving in roles across its leadership team, from the firm's general counsel,
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
He worked hard to find a job after a nonprofit paid his bail. Then the coronavirus hitWhen Tomajae Tolliver thought about COVID-19, the economy and his job, a question looped through his mind: “How am I going to survive?”
Read more »
How could it be that Trump wasn't told about alleged Russian bounties?The idea that President Trump's briefer, a career government bureaucrat, decided to keep him out of the loop isn't credible, say current and former officials.
Read more »
Robert De Niro’s Long Awaited Nobu Chicago Opens Hotel Rooftop BarRobert De Niro’s long awaited Nobu Chicago opens hotel rooftop bar (Via EaterChicago)
Read more »
Robin Hood foundation launches new initiative aimed at funding nonprofits run only by people of colorWes Moore, the CEO of the foundation, told CNBC in an interview that Robin Hood is already dedicating $10 million in seed capital to the fund.
Read more »
Coronavirus Accelerates Digital Transformation For Small BusinessesTraining nontraditional workers can help fill the widening tech workforce gap
Read more »