Guggenheim Partners Impact Report - Fall 2016

Inaugural Impact Report Fall 2016

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A letter from Peter Lawson-Johnston II The Guggenheim family has considered the question of impact for over a century. Our commitment to positive change through innovative solutions has led to lasting contributions in various fields, including the arts, academics, science, finance, aviation, and social justice.

Through it all, we have relied on a family formula for success that my great-great-grandfather Meyer Guggenheim pioneered. This formula entails identifying and hiring talented people, empowering them to innovate, and, in so doing, give them the opportunity to achieve extraordinary results.

As a client, shareholder, and one of the founding partners of a firm that bears my family’s name, I am proud to see how Guggenheim Partners has applied our family formula to achieve success in the financial services industry. Over the past decade and a half, we have established a solid reputation as a trusted advisor and fiduciary of the highest order, working alongside our clients, providing them with innovative solutions, and delivering long-term results with excellence and integrity.

More than success in business, Guggenheim Partners has honored my family’s legacy by driving social impact in innovative ways, particularly in the communities where we work and live. I am proud of the initiative we have taken on important issues such as education, healthcare and diversity, as well as the contributions we have made to important generational conversations about combating extreme poverty, gender inequality, and climate change.

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Drawing on the family legacy, I believe our efforts spark a virtuous circle: the ongoing success of our business allows us to invest even more in citizenship endeavors, which in turn enhances our reputation and supports our ability to sustain our growth.

It is in the spirit of positive social impact and sustainable business performance that I introduce Guggenheim Partners’ inaugural Impact Report. This report highlights many of the positive investments we have made and the engagements our people have led in 2015 through the first half of 2016. These results are a testament to all our employees, but I want to thank and recognize the commitment of our Corporate Social Responsibility and Diversity and Inclusion teams. Their leadership has opened the doors to greater impact for our employees and many others.

On behalf of our CEO Mark Walter, our Managing Partners, and other leaders of Guggenheim, I appreciate all that Guggenheim Partners’ employees do every day to deliver results for our clients and to make a difference in the world. We will continue to act as stewards and agents of positive, scalable social change and to focus on creating a diverse, inclusive, performance-oriented culture—this is the Guggenheim way.

Respectfully,

Peter Lawson-Johnston II Managing Partner

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About Guggenheim Partners Guggenheim Partners is a global investment and advisory firm with more than $240

Our history stems from Guggenheim Brothers, the Guggenheim family business dating back to the late 1800s. Guggenheim

billion1 in assets under management.

Partners began with the mission of

Across our three primary businesses

by applying the principles that made the

creating exceptional value for our clients

of investment management, investment

Guggenheim family one of the most

banking, and insurance services, we

business managers in American history.

have a track record of delivering results through innovative solutions.

With 2,500 professionals based in more than 25 offices around the world, we help governments, institutions, and individuals address complex financial challenges, identify opportunity, and achieve their long-term objectives with excellence and integrity.

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Our Heritage

1 Assets under management and number of employees are as of June 30, 2016. Assets include consulting services for clients whose assets are valued at approximately $57 billion.

successful innovators, investors, and

These principles entail engaging highly talented people, challenging them to think creatively, and encouraging them to achieve extraordinarily high standards in their fields of expertise.

Our Guiding Principles Our culture is defined by our six core values. They are the key to our storied legacy and the guide to our daily business decisions.

Innovation

Integrity

Excellence

We strive to create opportunities

We do the right thing for the

We pride ourselves on the

with new approaches and

right reasons.

quality of our work and seek

resources.

to exceed expectations.

Talent

Entrepreneurship

Stewardship

We believe that great organizations

We believe in fostering

We are dedicated to safeguarding

are built by employing and

individual creativity and

the capital and trust of our

partnering with the best and

a sense of ownership.

clients, and advancing their

brightest people.

best interests.

We invite you to learn more about the people, ideas, and values that define us by visiting GuggenheimPartners.com.

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Venturing for Impact One of the major initiatives we introduced in the past 18 months was a new strategic giving plan to focus our impact on organizations that mirror Guggenheim’s emphasis on innovative solutions. This venture philanthropy model started as a pilot in 2015 and was launched publicly in 2016. Our new Corporate Social Responsibility venture

We are excited to blend our financial contributions with our creative capital to propel nonprofit organizations to greater scale.

We have a track record as a firm of producing tremendous results that stem from applying new thinking to market challenges, and we look forward to replicating that approach in driving Guggenheim’s social impact through this venture strategy.

strategy was designed to identify and foster the development of visionary nonprofit organizations that have chosen to tackle some of the most challenging issues facing the world today.

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— Penny Zuckerwise, Head of Corporate Social Responsibility

Guggenheim’s venture philanthropy initiative is

the financial and creative capital will help propel these

designed to “propel” 10 high-performing, early-stage

social ventures to achieve greater impact.

organizations toward their goals of transformative impact.

By focusing our charitable contributions on a narrower

In 2015, we piloted this strategic venture philanthropy

set of organizations, we are able to leverage our dollars for

model by investing in two pioneering organizations in the

greater impact through a venture philanthropy model.

field of education, Blue Engine and BUILD.

As part of this initiative, we will invest up to $100,000

Blue Engine partners with public high schools serving

in up to 10 nonprofit organizations that use innovative

low-income communities to increase academic rigor and

solutions to solve social problems. The strategy includes

prepare dramatically greater numbers of students for

a lengthy due diligence process across multiple application

post-secondary success. Our gift made Guggenheim one

rounds to evaluate organizations on multiple criteria,

of Blue Engine’s first corporate partners. We also hosted a

including mission alignment, leadership, financial

breakfast to expose Blue Engine to our extended network

management, return on investment, program efficacy,

of other corporate funders, participated in strategic advising

and innovation. The review period also incorporates

sessions with Blue Engine’s executive team, and placed a

employee expertise and skills throughout the vetting

Guggenheim Vice President on Blue Engine’s Junior Board.

process. More than 100 employees participated as Round 1 Evaluators, completing over 1,200 unique evaluations.

BUILD is dedicated to proving the power of experiential

We will select the inaugural portfolio of 10 social impact

learning through entrepreneurship and igniting the

organizations at the end of 2016.

potential of youth in under-resourced communities.

BUILD is expanding its operations, and our contribution

In addition to financial capital, we will also deploy our

was the anchor gift in solidifying its presence in New York.

“creative capital,” which we define as any nonfinancial

We also collaborated with BUILD to place a Guggenheim

contribution we can provide through accessing our

Managing Director as a founding member of the BUILD

network of specialized skills and resources. Combined,

New York Board of Directors.

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Empowering Next-Generation Talent in Social Change As a global firm, Guggenheim cares about communities all around the world.

To drive our impact both locally and globally, we developed a multi-faceted, innovative partnership with Echoing Green, an organization whose mission is to unleash next-generation talent to solve the world’s biggest problems.

Echoing Green does so by providing seed funding and technical assistance to emerging social entrepreneurs (“fellows�) with innovative ideas for social change.

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As a Guggenheim employee, I was able to participate in Echoing Green’s Direct Impact program. It was great practical training for how to be an effective board member of an innovative, scalable nonprofit. I really enjoyed the educational component and learned practical frameworks I can use to help other social organizations.

— Jason Ghassemi, Head of Brand Marketing and Communications

Since its founding in 1987, Echoing Green’s fellowship

Professional development included two weekend retreats,

program has provided almost 700 social entrepreneurs

four workshops, and a site visit to a fellow operating in

working in 70 countries with $40 million in startup

the field. Guggenheim employees conducted field visits

funding. Echoing Green’s initial investment and support

with social entrepreneurs in Brooklyn, New York, and

has led to over $5 billion in additional funding and revenue

Kampala, Uganda. The final outcome of the Direct Impact

for its fellows.

program will result in each participating employee’s placement on the board of directors of an Echoing Green

Guggenheim is proud to have implemented an innovative

fellow’s social enterprise.

partnership with Echoing Green, given our shared commitment to entrepreneurship and positive social

Guggenheim and Echoing Green are also working together

change. In addition to a financial commitment, our

to create the first-ever corporate instance of Work on

partnership includes a variety of engagement opportunities

Purpose. Work on Purpose inspires and equips people in

for our employees to join Echoing Green in support of its

the first decade of their careers to realize their unique way

social entrepreneurs. Guggenheim employees have served

to drive social impact. While the Work on Purpose initiative

as advisors to fellows during Executive Advisor Circles and

is typically run on college campuses, Guggenheim is

Brain Trusts, reviewed applications for the next class of

collaborating with Echoing Green to develop a curriculum

fellows, and participated in flagship programs such as

that is better suited for a corporate workplace environment.

Direct Impact and Work on Purpose.

The revamped curriculum will be offered to rising leaders at Guggenheim as a professional development

Direct Impact is a leadership development and board

opportunity. The curriculum focuses primarily on helping

training program that Echoing Green launched in the

participants leverage life-and-work lessons to find

fall of 2015. Three Guggenheim employees joined

personal ways to make social impact, or what we refer to

the group of rising private sector leaders to participate

as “personal social responsibility.”

in the four-month experiential board training program.

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Partnering for Global Goals To celebrate the imperative of partnerships to achieve the Global Goals for Sustainable Development, Guggenheim joined forces with the United Nations Foundation, Global Citizen, and Project Everyone to host “The Goal 17 Partnership Space� at the 2016 World Economic Forum Annual Meeting in Davos, Switzerland.

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The Global Goals for Sustainable Development

In 2015, the member states of the United Nations committed to 17 Global Goals to bring an end to extreme poverty, inequality, and injustice around the world, and to implement real and lasting solutions to climate change— all by 2030.

Achieving the Global Goals for Sustainable Development by 2030 will require international action and partnerships on a scale the world has yet to witness. The formation of multi-stakeholder partnerships is so important that it is the capstone of the Global Goals themselves—Goal 17: Partnerships for the Goals.

Located in the heart of Davos during the 2016 World Economic Forum Annual Meeting, The Goal 17 Partnership Space was a central venue to encourage and promote effective public-private partnerships. Over the course of several days, Guggenheim and our partners convened more than 400 global leaders to discuss issues ranging from financing sustainable development to business engagement in humanitarian crises. The events and programs enhanced global partnerships, highlighted innovative solutions, and mobilized and shared knowledge, expertise, and financial resources in timely and practical ways, all in a collective effort to support achieving the Global Goals.

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Global Citizenship at Home From Davos back to New York, Guggenheim showed its deep-seated support for the Global Goals for Sustainable Development by hosting the Global Citizen Impact Lab in September 2015 in conjunction with the United Nations General Assembly.

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We strive to bring the same values and innovation, which are core elements of our culture, to Corporate Social Responsibility.

Our focus is on expanding and enhancing both personal and corporate social responsibility to our communities. — Alan Schwartz, Executive Chairman

The Impact Lab convened global leaders in business, media,

Alex Waislitz, Executive Chairman and Chief Investment

technology, and social innovation to discuss the movement

Officer of Thorney Investment Group and benefactor of

to end extreme poverty and provide strategic guidance to

the Waislitz Global Citizen Award, joined Scott Minerd,

the four 2015 Waislitz Global Citizen Award finalists.

Guggenheim Global Chief Investment Officer, in announcing the winner of the 2015 Waislitz Global Citizen Award to

The Waislitz Global Citizen Award is an annual cash prize

Impact Lab attendees. The winner was Twesigye Jackson

of $100,000 presented by the Waislitz Foundation and the

Kaguri of Nyaka AIDS Orphans Project, a nonprofit

Global Poverty Project, and recognizes individual excellence

organization working on behalf of HIV/AIDS orphans in rural

in the work to end extreme poverty. The 2015 finalists

Uganda to end systemic deprivation, poverty, and hunger

represented organizations operating in poverty-stricken

through a holistic approach to community development,

areas around the world.

education, and healthcare.

During the Impact Lab, finalists participated in a

Minerd shared the announcement with thousands that

collaborative advisory session with cross-sector leaders

weekend in New York’s Central Park at the Fourth Annual

to develop new approaches to scaling their programs.

Global Citizen Festival, which brings together change

More than 30 executives from leading public and private

makers, politicians, entertainers, and activists to urge

sector organizations joined Guggenheim professionals as

leaders and citizens to commit to ending extreme poverty

advisors to these global change makers.

by 2030.

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ENGAGEMENT OPPORTUNITIES Guggenheim hosted 85 volunteer events across eight offices, engaging 1,459 employees, contributing nearly 6,000 hours of volunteer time in 2015 and the first half of 2016. That’s more than two full work years!

MENTORING Guggenheim’s New York office piloted a mentoring program with 24 mentors and 24 students in early 2015, which grew to 51 mentors and 41 students by the end of the year, in partnership with the Governor’s Committee on Scholastic Achievement. In Chicago, 11 employees mentored 11 students in partnership with Big Brothers Big Sisters.

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POWER LUNCH In 2015 and 2016, Guggenheim’s New York office participated in City Harvest’s Skip Lunch Fight Hunger campaign, raising $115,000.

Guggenheim’s Chicago office participated in the Greater Chicago Food Depository’s LunchTime to End Hunger campaign, raising over $9,000.

GIVING THANKS During the Thanksgiving season, 252 employees across eight offices volunteered 708 hours at 23 events at food-based organizations to pack and sort 82,290 pounds of food to feed 59,766 people who could not afford a Thanksgiving meal.

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At the end of the volunteer shift packing food at Greater Chicago Food Depository, we were told our totals, and then you really see the impact you made. That was the best part, to feel valued for all of our work and see our team’s impact.

— Erin King, employee volunteer with Greater Chicago Food Depository

One of my favorite things is being in a group dedicated to the cause and there for the right reasons. Helping rebuild homes for people displaced by Hurricane Katrina was the most amazing experience of my life. I learned new skills and saw the direct impact of our efforts. It’s all about helping others.

— Daniel Sloan, employee volunteer with Rebuilding New Orleans

I appreciate that Guggenheim recognizes employees have different interests and passions and provides the Volunteer Time Off program for us to choose how we want to give back to our communities.

— Kyle Gibson, employee volunteer with The National Center for Fathering

We spent three full days painting a mural to beautify an afterschool space in Brooklyn. The experience overall was extremely eye opening. We were working in an underserved community, and it made me appreciate what I have and want to give back more.

— Efua Aidoo and Ashita Elanko, employee volunteers with Habitat for Humanity

Giving back to the community and supporting a cause I care about is an enriching experience.

— Meghan Keener, employee volunteer with Operation Support Our Troops

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MATCHING GIFTS PROGRAM Guggenheim launched a Matching Gifts program in the United States in January 2015 and globally in March 2015 to double the impact of employees’ personal giving. 602 employees took advantage of the program, resulting in an additional $154,000 going to 448 causes selected by our employees.

VOLUNTEER TIME OFF Guggenheim launched a Volunteer Time Off program in January 2015.

250 employees participated this year, resulting in 228 days volunteered for the causes that matter most to employees.

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#GIVINGTUESDAY All employees received $100 of charitable currency in their Guggenheim Gives account, in celebration of #GivingTuesday, to give to an eligible organization of their choice. 87% of employees participated, driving contributions to more than 1,000 organizations during the month of December 2015.

PLEDGE 1% Guggenheim became one of the first financial services firms to join Pledge 1%, a network of corporate citizenship leaders who encourage others to make a more meaningful impact in their communities.

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Investing in Inclusion We believe integrating inclusive and equitable practices is the responsibility of everyone. Our ability to innovate, empower multiple perspectives, broaden inclusion, share best practices, and bring our whole selves to the workplace is key to strengthening our culture and creating lasting impact.

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Investing in a workplace that values diversity and inclusion helps Guggenheim’s exceptional talent deliver results for our clients. Guggenheim is committed to ensuring that our differences and similarities are respected, valued, and harnessed to attain the full potential of our most important asset—our people.

— Mark R. Walter, Chief Executive Officer

Guggenheim’s diversity and inclusion strategy

Guggenheim has made important inroads in advancing

encompasses a variety of objectives that focus on

inclusive strategies across our businesses, talent

raising awareness, promoting leadership opportunities,

management, and supply chain. This inaugural Impact

incorporating new ideas, cultivating a robust talent

Report is an opportunity to highlight some of the

pipeline, and implementing a firm-wide inclusive

accomplishments we achieved during 2015 and the

vendor process.

first half of 2016.

Gerald Donini, Co-CEO of Guggenheim Securities,

We thank all of our employees for their engagement

emphasizes the link between leveraging inclusive practices

and contributions in advancing diversity and inclusion

with driving performance: “Diversity and inclusion

at Guggenheim. This is not the destination but a call

cannot be just a Human Resources responsibility. It has

to action. We will continue to integrate equitable and

to be something we all live and breathe. As leaders, we

inclusive practices, and in doing so, create greater impact,

are accountable for delivering results for our clients, and

transparency, accountability, and innovation.

diverse and inclusive practices are how we can best do that.”

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Investing in Our People At Guggenheim, we believe great organizations are built by employing and partnering with the best and brightest people. We are committed to fostering a diverse and inclusive workplace that enables our employees to maximize their full potential. Our employee networks, known as Business Resource Development Groups, are managed and advised by our Office of Diversity and Inclusion and serve as important forums for communication, leadership development, and advocacy.

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For any organization to be competitive in challenging and evolving market environments, it needs people who bring different patterns of thought, different frameworks for decision making, different ideas, and different backgrounds to the table. Building an inclusive workplace yields creativity and innovation.

— Charles Spearman, Head of the Office of Diversity and Inclusion

Our Business Resource Development Groups create

Managing Partner and Chief Operating Officer Brian Sir

opportunities for our employees to engage, learn,

spoke about “passion” as one of Guggenheim’s greatest

and innovate.

operational strengths. He noted, “Everything we’ve done, we’ve done with passion. So, I want to implore all of us to

In February 2016, Guggenheim hosted the inaugural

deal with diversity and inclusion initiatives with the same

Investing in Inclusion—Providing Innovative Solutions

passion that we deal with everything we do today. It is a

Summit, held in New York. The Inclusion Summit centered

charge for all of us, including myself.”

on two themes: inclusion as a hallmark of human capital talent, and the growing awareness of vendor diversity

In June 2016, several Guggenheim representatives

as a driver of business growth and development. We also

participated as panelists and contributed as thought leaders

announced the launch of Guggenheim’s Multicultural

in this year’s Latinos on Fast Track (LOFT) Investors

Employee Business Network, an employee network for

Forum in Los Angeles. Guggenheim played a central role

historically underrepresented groups focused on talent

in designing this year’s program in close collaboration with

and client pipeline development and retention.

the Office of Diversity and Inclusion. The LOFT Investors Forum is a leadership and workforce development program

Guggenheim’s Chief Executive Officer Mark Walter

for Latino institutional investment professionals, including

helped kick off the Inclusion Summit, which was attended

trustees, investors, and asset managers. Pensions with

by more than 250 employees and leaders from the

more than $1 trillion of combined assets were represented

financial services industry. Walter described inclusion as

at the two-day event. LOFT was developed by the Hispanic

foundational to the success of Guggenheim. NBA legend

Heritage Foundation, an award-winning nonprofit founded

Earvin “Magic” Johnson delivered a keynote address

by the White House in 1987 to identify and prepare Latino

sharing his experiences as an entrepreneur and advocate

leaders for the public and private sectors.

for inclusive practices. He highlighted his investments in business ventures in urban communities and how sourcing diverse talent is a strategic recruiting tool.

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Addressing Gender Diversity in Financial Services We formalized the creation of the Women’s Innovation and Inclusion Network (WIIN) to develop and promote a dynamic, gender-diverse workforce. WIIN is a part of a continuum of Guggenheim talent strategies connecting innovation with inclusion.

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Our Women’s Innovation and Inclusion Network focuses on creating a broad platform to highlight the successes and challenges of incorporating gender transparency in talent acquisition, retention, and career advancement, not only at Guggenheim, but also in the financial services industry. Cultivating a pipeline of female leadership is a smart and effective talent strategy for Guggenheim.

— Carey Fear, Senior Managing Director and Chair of the Women’s Innovation and Inclusion Network Steering Committee

We executed a series of initiatives to bring together

insights on mandates that public pension clients have

employees across our offices, as well as thought leaders

in their investment arenas. “A well-rounded investment

from various external organizations, to address gender

team is more than something our clients simply like to see.

diversity in financial services.

For many it is becoming a requirement,” Mathias said.

In Chicago, the successful launch of WIIN in March 2015

In New York, we organized a Power of Resilience Summit

attracted over 200 employees in person and through

in October 2015, which focused on overcoming personal

audio or video conferences from across our New York,

and professional adversity in the workplace. Cynthia

Santa Monica, and other offices. Guggenheim Managing

DiBartolo, Founder and CEO of Tigress Financial Partners,

Partner Tom Irvin serves as a co-Executive Sponsor of

a woman-owned financial services firm that takes an

WIIN and described the employee network as “a key

inclusive approach to hiring financial professionals with

action item for advancing full engagement of our best

disabilities, delivered a keynote address chronicling the

talent at Guggenheim.”

extraordinary hurdles she faced during her stellar Wall Street career in sales and risk management at Merrill Lynch,

In Santa Monica, we hosted a Knowledge Development

Smith Barney, Citigroup, and Bear Stearns. “Your attitude,

Forum in June 2015 that provided panel discussions

not your aptitude, determines your altitude,” she said.

and skills-building workshops on women’s leadership,

The full-day Resilience Summit also addressed issues

negotiation, and communication. Panelists Anne Walsh,

relating to career development and the importance

Assistant Chief Investment Officer of Fixed Income for

of mentoring and sponsorship. An educational workshop

Guggenheim Investments, and Anne Mathias, Macro

on business development was offered to women-owned

Strategist for Guggenheim Investments, provided their

businesses as well.

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Leveraging New Ideas Guggenheim 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.

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Respect and input from different identity groups improve the work environment for all employees.

— Pat Walter, Chief Human Resources Officer

By supporting diversity and inclusion in our workplace and

ASAFE/NYC Bar Securities, Finance Law and Business

business practices, we are able to build upon our success

Seminar Series — This program was conceived by the

and deliver innovation and superior service to our clients.

Alliance of Securities and Finance Educators, New York

One of the ways we do this is by developing strategic

City Bar, Morgan Stanley, and Guggenheim. The series was

collaborations with external organizations, including:

recognized with the George B. Vashon Innovator Award from

§ Catalyst

the Minority Corporate Counsel Association. In 2015, 110

§ The COMMIT Foundation § Four Block § Harvard Undergraduate Women in Business § National Association of Securities Professionals § Out for Undergrad Business Conference § The Robert Toigo Foundation § Undergraduate Stern Women in Business

diverse students from New York City-area law and business schools attended the Six-Part Seminar Series, providing opportunities for students to learn from senior leaders with expertise in the areas of law and the finance industry.

Toigo Foundation’s MBA Catapult Conference — This unparalleled training experience helped catapult 120 diverse pre-MBA candidates in 2015 and 170 candidates in 2016 beyond business school and into thriving careers by providing exposure to leaders in the finance industry.

Guggenheim is also pleased to have sponsored: Out for Undergrad Business Conference — More than 300 Toigo Foundation’s Groundbreakers Women in

LGBT undergraduate leaders from 70 top-ranked colleges

Leadership Summit — We have been a proud sponsor

and universities attended this career fair in 2015. Our 2016

for five consecutive years of this forum for high-achieving

sponsorship marks our fifth consecutive year of support for

women in leadership. In 2015, more than 125 senior-, mid-,

LGBT undergraduates interested in careers in the financial

and junior-level women from the financial sector attended.

services industry.

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Supporting Veterans Initiatives Guggenheim is committed to supporting our brave men and women as they return from service in the U.S. Armed Forces. We do so through our Guggenheim Invests in Veterans Everyday (GIVE) strategy, consisting of three components: career and business development initiatives, employee engagement opportunities, and veterans service organizations collaborations.

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One of the most powerful qualities of veterans is that when you ask them to get something done, you never hear hesitation or ambiguity.

You get someone who puts their head down and delivers.

— John Robinson, General Counsel, Guggenheim Securities, and decorated U.S. Navy veteran

In 2015, there were 3.6 million veterans who had served

In addition, Guggenheim’s 10-week paid summer

in the U.S. Armed Forces since September 2001. Eighteen

internship, known as the Veterans Transition Assistance

percent of these veterans were women. Today’s veterans

Program (VTAP), welcomed our third and fourth classes

face a variety of challenges while transitioning from

of veterans in the summers of 2015 and 2016, respectively.

military service to civilian life. Guggenheim values the

The aim of VTAP is to provide a select group of transitioning

wealth of knowledge and experiences that veterans can

veterans an opportunity to accelerate their careers. Veteran

bring to the workplace.

Associates work in our business units and experience

1

on-the-job training, networking opportunities, classroom As part of our GIVE initiative, hundreds of Guggenheim

instruction, volunteer projects, and mentorships. In turn,

employees have actively engaged in hiring, mentoring,

Veteran Associates offer different perspectives and

or working with veterans at Guggenheim. We believe

approaches that facilitate cross-fertilization of ideas with

our efforts raise the profile of Guggenheim in the veteran

our people.

community and allow us to identify an untapped source of talent by connecting with veterans of all ages

At the close of this year’s VTAP internship, Veteran

and backgrounds.

Associates presented to Guggenheim a framed collection of unit patches from their respective service branches.

In November 2015, we held our third annual Veterans

As Veteran Associate Nicholas Soroka explained, “The

Appreciation Event, attended by over 70 employees, guests,

unit patch is a key symbol in the military worn by every

and veterans in our Chicago office. Our employee network,

U.S. Airman/Airwoman, Soldier, Sailor, and Marine. It is the

the Veterans Initiative Advisory Committee, partnered with

first thing they receive welcoming them to their unit and

the Women’s Innovation and Inclusion Network to host a

serves as a rallying point, signifying the unity, cohesion,

mentoring workshop for female veterans. Conducted by

and esprit de corps for the organization. These patches were

the COMMIT Foundation, a veterans service organization,

worn by the 2016 Veteran Associates during their service

the workshop focused on the unique needs of transitioning

in the U.S. Air Force, Army, Marine Corps, and Navy.”

women veterans.

1 U.S. Department of Labor Bureau of Labor Statistics Press Release dated March 22, 2016.

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Strengthening Vendor Diversity Vendor diversity creates additional channels for us to strengthen the sourcing and selection process of our vendors of products and services to include minority-, women-, LGBT-, and veteranowned businesses. We established a Vendor Diversity Program to enhance our supply chain, which in turn, improves quality, efficiency, and innovation.

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Supporting diversity and inclusion is not just a good thing to do, it’s good business.

Different ways of thinking and different ideas from people of diverse backgrounds all make for better decision making, better products, and better services for our clients.

— Tom Irvin, Managing Partner, Guggenheim Partners and Executive Officer, Guggenheim Treasury Services

Guggenheim continues to take a leadership role in

Our ongoing efforts were also recognized when industry

championing the importance of vendor diversity through

peers nominated Guggenheim for the NYNJ MSDC Regional

our efforts in implementing a firm-wide inclusive vendor

Corporation of the Year. Guggenheim’s Supplier Diversity

process, and in connecting diverse vendors, corporations,

Manager Kate Kleyman was nominated for Corporate

and law firms. Our Vendor Diversity Program enables us

Advocate of the Year.

to build relationships with our diverse client and employee bases as well as to support the business development and

In June 2016, we sponsored the first Financial Services

growth of communities.

Symposium on Vendor Diversity in collaboration with Morgan Stanley, J.P. Morgan, New York Life, AIG, and

In 2015, Guggenheim became an active member in several

Citigroup. The Symposium featured a one-on-one

vendor diversity advocacy organizations, including the

conversation between Guggenheim’s Managing Partner

New York & New Jersey Minority Supplier Development

Tom Irvin and keynote speaker David Steward, CEO

Council (NYNJ MSDC) and Women Presidents’ Educational

and Founder of World Wide Technologies, as well as

Organization. Both organizations issue certifications for

matchmaking sessions for interested minority-owned

eligible businesses and provide networking opportunities.

vendors and potential clients. Steward highlighted the

We also collaborated with the Financial Services

positive influence that vendor diversity advocacy groups

Roundtable for Supplier Diversity and the National Gay

such as NYNJ MSDC had in enabling him to broaden his

& Lesbian Chamber of Commerce, New York affiliate.

networks as a certified minority-owned business.

We are proud that the dedication of our employees to

Guggenheim continues to be a thought leader in raising

support these important efforts was recognized by several

awareness of the important business and social impact

leading organizations. In 2015, Charles Spearman, Head

case for incorporating vendor diversity to strengthen the

of the Office of Diversity and Inclusion, was elected to the

supply chain, foster innovation, and ensure best practices.

Board of Directors of NYNJ MSDC.

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Disclosures This disclaimer applies to the entirety of this document and any attachments hereto. The information presented herein has been prepared for informational purposes only and is not an offer to buy or sell, or a solicitation of an offer to buy or sell, any security or fund interest and may not be relied upon in connection with the purchase or sale of any security. Š2016 Guggenheim Partners, LLC. All Rights Reserved. Guggenheim, Guggenheim Partners and Innovative Solutions. Enduring Values. are registered trademarks of Guggenheim Capital, LLC. No part of this document may be reproduced, stored, or transmitted by any means without the express written consent of Guggenheim Partners, LLC.