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Guggenheim Partners

Multicultural Employee Business Network (MEBN) Report 2016–2017 Sponsored by the Office of Diversity and Inclusion | August 2017 | For Internal Use Only

Contents Executive Summary............................................................. 1 MEBN Leadership.................................................................2 MEBN Strategy and Contributions .................................3 MEBN in Action.................................................................... 4 2016–2017 Key Accomplishments.................................. 6 Internal and External Collaborations.............................. 8 2017–2018 Goals ................................................................ 10 Frequently Asked Questions .......................................... 12

Executive Summary Purpose

Program Highlights

This report is designed to exhibit the work and ideas of MEBN

MEBN works tirelessly to eliminate silos and promote

that have helped promote diversity and inclusion practices at

inclusiveness within the Guggenheim network by taking the

Guggenheim Partners.

following actions: Firm-wide launch of MEBN with executive leaders as guest



The Multicultural Employee Business Network (MEBN) is a

Developed a strong infrastructure for the network by

Business Development Resource Group (BDRG) at Guggenheim

designation of a working Steering Committee, which holds

which is open to all employees and directed toward employees

recurring meetings in focus areas of education, leadership,

from historically underrepresented groups with the goal of

professional and personal development, mentorship/

promoting a diverse, engaged, and inclusive workforce at

sponsorship, networking, as well as talent and client acquisition

Guggenheim Partners. The goal of MEBN is to advance the

and retention

understanding of workforce innovation and inclusion with a common identity, set of interests, and/or goals. Sponsored by the Office of Diversity and Inclusion (ODI), the

Developed professional networks internally and externally by conducting and co-sponsoring an annual calendar of programs and participating in internal and external initiatives

mission of the MEBN is to be a strategic resource to the Firm and the Office of Diversity and Inclusion, promoting a culture of diversity and inclusion through education, leadership and professional development, mentoring, sponsorship, networking, as well as talent and client acquisition and retention. The mission and initiatives are aligned with the Firm’s mission and policies.

Forward Looking With a long-sighted view toward diversity, MEBN is dedicated to the enhancement of foundational relationships and programs that support the entire Guggenheim Partners community by way of: Enhancing internal and external communications regarding MEBN and Guggenheim’s diversity and inclusion efforts Engaging in programs that promote diversity and professional development Collaborating with various business unit leaders to drive inclusive recruitment and retention practices

Photos left to right Brian Sir, Managing Partner, Chief Operating Officer Mark Walter, Chief Executive Officer Tom Irvin, Managing Partner MEBN Report 2016–2017


MEBN Leadership Executive Sponsors


Tom Irvin

Michael O’Neill

Managing Partner, Head of Guggenheim Treasury Services

Brian Sir

Managing Partner, Chief Operating Officer

Senior Managing Director, Global Administration Corporate Services

Steering Committee

Dylan Glenn

MEBN Chair, Senior Managing Director, Guggenheim Dubai KBBO

Kate Kleyman

Vice President, Diversity and Inclusion

Charles Spearman

Senior Managing Director, Diversity and Inclusion

Cynthia Nieves

Vice President, EA to Managing Partner, Internal Audit, Tax

Former Leadership Jason Ghassemi

Amani Macaulay

Tara Mangam

Lily Tang

Al Chambers

Leah Zara

Maurice Colas


Guggenheim Partners

Farez Alibay

Director, Guggenheim Insurance

Kelechi Ogbunamiri

Director, Guggenheim Investments

Amanda Betts

Vice President, Strategic Sourcing and Expense Management

Lisa Robinson

Director, Guggenheim Investments

Stephen Hartley

Vice President, Diversity and Inclusion

Michelle Zhou

Director, Internal Audit

Perry Hollowell

Director, Guggenheim Investments







Guggenheim’s Strategy for Investing in Diversity and Inclusion


Investing in Diversity and Inclusion



Innovative Solutions









a Tr

MEBN Contribution to Diversity and Inclusion

1,000+ Engaged Employees

20+ Co-Sponsored/Hosted Programs

Assisted with Employee Engagement of over 1,000 Guggenheim employees who participated in Diversity and Inclusion programs, including participation in initiatives, involvement in speaking engagements, and ONEGuggenheim unique page views.1

Engaged In Leadership, Professional, and Personal Development through workshops and programs for senior leaders and professionals.

1,000+ Potential Diverse Applicants 10+ Business Unit Participation Took a Proactive Approach to partnering with diverse schools and organizations to enhance and advance inclusive talent acquisition practices and brand awareness in diverse communities.

MEBN Steering Committee is comprised of representatives at various levels, operating groups and business units within the firm.

1 A unique page view occurs when an employee views a website for the first time. Subsequent page views by the same person are not unique. There were over 5,000 unique page views. MEBN Report 2016–2017


MEBN in Action Investing in Inclusion. Delivering Innovative Solutions.

Inclusive Solutions


In the “Investing in Inclusion. Providing Innovative Solutions.” program, MEBN was introduced to the firm and highlighted its purpose which is to promote a culture of inclusion and innovation through mentoring, networking, sponsorship, talent and client acquisition and retention.

MEBN supported the firm’s Diversity Innovation Summit, which showcased a variety of perspectives to inform employees about approaches to growth inside and outside of the workplace.

Community Empowerment MEBN hosted a select group of PAVE charter middle school students in New York, where a keynote and panel discussion was held. The students were also given a tour of the New York Office.

Photos top left clockwise Mark Walter, Chief Executive Officer and Earvin “Magic” Johnson “Investing in Inclusion. Providing Innovative Solutions.” 2016 Charles Spearman, Nina Vaca, CEO of Pinnacle Group, and Kate Kleyman “Diversity Innovation Summit” 2016 PAVE Students engaged in Guggenheim Partners panel discussion “PAVE Academy Students Visit Guggenheim” 2016


Guggenheim Partners

MEBN Report 2016–2017


Key Accomplishments 2016 February Launched MEBN at “Investing In Inclusion. Providing Innovative Solutions.” program where CEO, Mark Walter, keynote speaker Earvin “Magic” Johnson, and Managing Partners, Tom Irvin and Brian Sir discussed the importance of talent pipeline development and inclusive business practices – over 250 employees and guests were in attendance. Earvin “Magic” Johnson Investing In Inclusion. Providing Innovative Solutions. February 2016

April Participated in the National Association of Securities Professionals (NASP) Conference held in Atlanta in support of minority professionals in the securities markets by way of seminars and networking opportunities. June Hosted a series of PAVE programs designed to prepare middle school students for competitive high schools and 4-year colleges. The PAVE program also included a panel discussion with members of the MEBN steering committee, which focused on

PAVE Program PAVE Students Participating in Class June 2016

lessons and insights from panelists’ respective careers and the value of mentors. Partnered with Robert Toigo Foundation MBA Catapult Conference held in Chicago to help MBA students establish relationships beyond business school education, with over 170 diverse MBA students in attendance. July Co-sponsored and hosted the “Owning Your Brilliance Program” in conjunction with Rutgers University which provided professional inspiration for ambitious high school students from

Toigo-MBA Catapult Panel Participants at Toigo Catapult Conference June 2016

less advantaged communities. Supported the Hispanic Heritage Foundation Latinos on Fast Track (LOFT) program which focused on Latino institutional investment professionals including educational training of trustees, investment staff and other relevant industry stakeholders.

Latinos on Fast Track (LOFT) Program Participants LOFT Investors Forum July 2016


Guggenheim Partners

November Contributed to the Diversity Innovation Summit, which consisted of senior level panels, a fireside chat with Managing Partners Alan Schwartz and Tom Irvin, as well as several workshops. The program highlighted the importance of empowering junior and senior leadership through employee networks, personal wealth strategies, corporate mentorship and sponsorship.

2017 February

Diversity Innovation Summit Ramona Ortega, Ashley Feinstein, Rebecca Bennett, and Neshie Tiwari November 2016

Sponsored and participated in NYU’s Stern Undergraduate Women in Business Conference. The conference provided a forum for undergraduate women across the Northeast to explore, collaborate, and engage in the many business career resources New York City has to offer. March Participated in the National Association of Securities Professionals (NASP) mentor luncheon and career symposium at Citi Headquarters in NY, which supports diverse talent pools particularly for securities professionals – There were over 200 in attendance.

Diversity Innovation Summit (L to R) Erin King, Dan Shannon, Carey Fear, Mike Levatino, and Bob Lofaso November 2016

April Spearheaded Keynote Fireside Chat with Alan Schwartz and MSNBC, which focused on the state of small businesses, minorityowned business enterprises in the current economy, and the importance of diversity and inclusion initiatives. June The Toigo Foundation Gala sponsored by Guggenheim Partners, highlighted the achievements of past and present Toigo fellows, who are all top MBA candidates with diverse cultural experiences.

National Association of Securities Professionals (NASP) Stephen Hartley and Tara Mangam at Mentor Luncheon March 2017

The Toigo Catapult Conference sponsored by Guggenheim Partners, provides Toigo Fellowship finalists exposure to top financial service professionals representing investment banks, investment management firms, and alternative investment firms.

2017 Toigo Foundation Gala (F to B) Michelle Zhou, Helen Aronova, Perry Hollowell, and Charles Spearman June 2017 MEBN Report 2016–2017


Internal and External Collaborations Internal Partnerships and Involvements

NYC Veteran Associates Veterans Transition Assistance Program (VTAP) June 2016

The following events demonstrated contributable efforts of MEBN members and various Business Development Resource Groups, including the Veterans Initiative Advisory Committee, Women’s Innovation and Inclusion Network, and the Vendor Diversity Advisory Council. Because of this inclusive ecosystem, there is a cross-pollination of ideas designed to ignite a culture of thought leadership around diversity and inclusion. Veterans Transition Assistance Program (VTAP): 10-week internship program that assists veterans with their transition from military service to a civilian career. Financial Services Symposium on Supplier Diversity (New York): Companies such as Citi, AIG and others designed the symposium to highlight the increasingly important role supplier diversity is playing on Wall Street.

Tom Irvin and David Steward World Wide Technology, Financial Services Symposium on Supplier Diversity September 2016

Veterans Appreciation Event (Chicago): Homer Holland, board member of Guggenheim Partners and West Point Military Academy graduate was the keynote speaker, with over 80 employees in attendance. Speed Mentoring Session (Santa Monica): Women leaders in commercial real estate and finance shared wisdom about professional and personal development. Out for Undergrad Business Conference (OUBC): For the fifth year, Guggenheim sponsored the OUBC conference meant

Out for Undergraduate Business Conference November 2016

to broaden the Firm’s recruitment talent pool among LGBT undergraduate students. Over 300 students were in attendance at the program. The Guggenheim Investment Banking Sophomore Diversity Internship: The Firm launched a new Investment Banking internship for diverse hires. Take Our Daughters and Sons to Work Day: This event was held in the Chicago, New York, and Rockville offices.

Take Our Daughters and Sons to Work Day April 2017


Guggenheim Partners

External Partnerships and Memberships MEBN works with key external organizations to help bring new voices that enrich our awareness and connect us to our communities in different ways. We are proud to sponsor, support, and partner with pioneering organizations.

Jonathan Lovitz, NGLCC and Charles Spearman National Gay and Lesbian Chamber of Commerce (NGLCC) Breakfast May 2016

Brittany Brown and Veteran Associates VTAP Habitat for Humanity Project July 2016

Alisha Jariwala and Samantha Kaczmarek Harvard Undergraduate Women in Business Conference November 2017

Shendora Pridgen, Morgan Stanley, Carra Wallace, CDO, NYC Comptroller and Amanda Betts Financial Services Symposium on Supplier Diversity Sept. 2016 MEBN Report 2016–2017



Guggenheim Partners

2017–2018 Goals Investing in Inclusion. Delivering Innovative Solutions.



Develop and launch an MEBN portal on ONEGuggenheim. Recruit and engage additional MEBN network members, leverage employee insights, and promote engagement and connections of MEBN members. Enhance external communications regarding MEBN and Guggenheim’s diversity and inclusion efforts.

Continue to engage Firm employees and MEBN Steering Committee members by providing learning, development and networking opportunities internally and externally.

Recruiting, Retaining, Advancing Talent

Build upon the foundational relationships and previous programs in order to provide

Work with the Office of Diversity and Inclusion to provide benchmarking market data and recommendations to the Human Capital Committee, Human Resources, Talent Acquisition and Talent Management on inclusive workplace issues,

resounding value to the Guggenheim employee population.

advancement and recruitment criteria, unconscious bias, and employee engagement measures.


Photos top left clockwise Diversity Summit Students, Ascend Program Alan Schwartz and Tom Irvin, 2016 Diversity Innovation Summit MEBN Report 2016–2017


Frequently Asked Questions How are the terms ‘diversity and inclusion’ defined at Guggenheim Partners?

What other Business Development Resource Groups has the Firm launched?

Workforce “diversity” is a collection of individual attributes

Our current foundation of Guggenheim’s BDRGs includes the

that together help Business Units and Operating Groups pursue

Women’s Innovation and Inclusion Network (WIIN), and the

Firm objectives efficiently and effectively. These include, but

Veterans Initiative Advisory Committee (VIAC), and the Vendor

are not limited to, innate characteristics such as national origin,

Diversity Advisory Council (VDAC). These networks, sponsored

language, race, color, mental or physical abilities, ethnicity,

and managed by the Office of Diversity and Inclusion, serve as a

gender, age, sexual orientation and gender identity, and acquired

resource for employees, managers, HR, the Office of Diversity and

characteristics such as religion, education, socioeconomic

Inclusion, as well as Guggenheim as a whole. They accomplish a

status, veteran status, family status, work experience, language

variety of objectives by providing a positive and inclusive forum

skills, cultural values, geographic location, organizational level,

for employee engagement and idea exchange. Our resource

and work style. The concept also encompasses differences,

groups have been instrumental in the creation of professional and

similarities and affinities among people concerning life

business development programs as well as several key initiatives.

experiences, and philosophical and intellectual perspectives. “Inclusion” in this context is a culture that connects each employee to the Firm, enables the full participation and contribution of all human capital in support of the mission of the Firm and eliminates implicit and explicit barriers. Inclusion

Do other financial services firms have Business Development Resource Groups, including Multicultural based?

encourages innovation, collaboration, flexibility, and fairness

Yes, for many years financial firms and their corporate clients

and leverages the diverse talents and attributes of the entire

have utilized Employee Networks. These networks have

workforce of the Firm so that all individuals are able to participate

demonstrated a competitive benefit to their corporate brand,

and contribute to their full potential.

talent acquisition and retention strategies, Dodd-Frank compliance, and EEO prevention platforms. Additionally,

What is a Business Development Resource Group (BDRG)?

Business Development Resource Groups assist with the

Business Development Resource Groups (also known as

American Express, Bank of America Merrill Lynch, Boeing, Citi,

Employee Resource Groups (ERGs), affinity groups, or business

General Electric, Goldman Sachs, JP Morgan Chase, Morgan

network groups) are groups of employees who join together

Stanley, Prudential, T. Rowe Price and Verizon.

advancement of diversity and inclusion programs. Examples of competitors with mature Employee Network programs include

in their workplace based on shared characteristics or life experiences. BDRG’s are designed to provide support, enhance career development, and contribute to personal development in the work environment.

What eligibility requirements must be met prior to joining MEBN? Membership is open to all Firm employees. Ideally, this will include representation from various business units, operating groups, job titles and geographic locations.

Photo on the right Ascend 2017 Executive Insight for Pan-Asian Woman Workshop


Guggenheim Partners

Acknowledgment Special thanks to Michelle Zhou (Project Chair), Robert Woods (Project Assistant), Stephen Hartley, Cynthia Nieves, Kevin Ruby, and Charles Spearman for developing this report.

Profile for Guggenheim Partners

Guggenheim Multicultural Employee Business Network (MEBN)  

This report is designed to exhibit the work and ideas of MEBN that have helped promote diversity and inclusion practices at Guggenheim Partn...

Guggenheim Multicultural Employee Business Network (MEBN)  

This report is designed to exhibit the work and ideas of MEBN that have helped promote diversity and inclusion practices at Guggenheim Partn...