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 familyâ€™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 familyâ€™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.
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 Partnersâ€™ 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 Partnersâ€™ 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 cultureâ€”this is the Guggenheim way. Respectfully,
Peter Lawson-Johnston II Managing Partner
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.
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
We strive to create opportunities
We do the right thing for the
We pride ourselves on the
with new approaches and
quality of our work and seek
to exceed expectations.
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
We invite you to learn more about the people, ideas, and values that define us by visiting GuggenheimPartners.com.
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 Guggenheimâ€™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 Guggenheimâ€™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.
â€” 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.
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 worldâ€™s biggest problems. Echoing Green does so by providing seed funding and technical assistance to emerging social entrepreneurs (â€œfellowsâ€?) with innovative ideas for social change.
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.
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 â€œThe Goal 17 Partnership Spaceâ€? at the 2016 World Economic Forum Annual Meeting in Davos, Switzerland.
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 changeâ€” 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 themselvesâ€”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.
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.
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. â€” 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 Yorkâ€™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.
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. 14
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. 15
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
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 employeesâ€™ 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. 18
#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. 19
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.
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
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.”
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.
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
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.
Addressing Gender Diversity in Financial Services We formalized the creation of the Womenâ€™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.
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.
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.
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
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.
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.
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
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
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
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.
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.
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.
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. ÂŠ2016 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.
The inaugural report highlights our accomplishments in social impact and sustainable business practices.