August 6, 2020 | 12:00 pm EST

Bloomberg Equality:
Race, Money and Wall Street

Bloomberg Equality:
Race, Money and Wall Street

One in a series of uncomfortable conversations amidst a national reckoning with systemic racism, creating true equity and building a more just world.

 The U.S. banking and financial services industry plays an instrumental role in fueling the U.S. economy. Despite this involvement, it’s historically failed to reflect the depth and breadth of the businesses, communities and people it serves. The history of redlining and other practices whose adverse impacts still reverberate today as Black Americans trail their White counterparts in home ownership, wages and wealth accumulation. The net worth of a typical American White family is 10-times higher than Black families, $171,000 vs. $17,000, respectively, according to 2016 estimates.

Lack of diverse representation in senior leadership may be part of the problem. Black and Latinx executives hold four percent or less of executive or senior roles in financial services, according to a recent Congressional report. What concrete steps is the industry taking to combat systemic racism in business and personal lending? What are the strategies for creating sustainable practices that can lead to long-lasting impact and change? Which initiatives and programs are working to attract, develop and retain top diverse talent in the industry? How are the biggest banks revamping their succession plans to prepare more Black and Latinx executives for the path to the c-suite? We’ll discuss how the financial services industry can wield its influence to combat racial economic inequality in the midst of an unprecedented global pandemic.

August 6 - Thursday

12:00 pm

Welcome Remarks

Speaker

12:02 pm

In Conversation with Richard D. Parsons

Speaker

Moderator

12:22 pm

In Conversation with Carla Harris

Speaker

  • Carla Harris

    Vice Chairman and Managing Director, Morgan Stanley

Moderator

12:40 pm

Carving a Path to Wall Street

Speakers

Moderator

  • Jason Kelly

    Co-Anchor, Bloomberg Businessweek, Bloomberg Television and Radio

1:00 pm

Sponsor Spotlight: Office Hours with TPG's Anilu Vazquez-Ubarri, Partner, Chief Human Resources Officer

Speaker

Moderator

1:20 pm

Closing Remarks

Speaker

Speakers

William Goodloe

President and CEO SEO

Carla Harris

Vice Chairman and Managing Director Morgan Stanley

Henry Kravis

Co-Chairman and Co-Chief Executive Officer KKR

Richard D. Parsons

Senior Advisor Providence Equity Partners

Anilu Vazquez-Ubarri

Partner and Chief Human Resources Officer TPG

Sonali Basak

Financial Correspondent Bloomberg

Scarlet Fu

Anchor Bloomberg Television

Patrick Garrigan

Global Head of Bloomberg Live Bloomberg

Jason Kelly

Co-Anchor, Bloomberg Businessweek Bloomberg Television and Radio

Sponsor

Founded in San Francisco in 1992, TPG has a long history of investing in change, growth, and innovation through a platform that spans private equity, public equity, real estate, and impact investing. TPG now has more than $79 billion under management, investment and operational teams in 15 offices around the world, and a unique portfolio of innovative businesses.

At TPG, talent is our greatest asset. The quality of our investments and our ability to build great companies depend on the originality of our insights. Reaching our firm’s full potential means supporting every team member to bring the fullness of their unique perspective to their work and to our community. We are committed to a diverse, inclusive workplace to foster diversity of thought and reflect the breadth of our limited partners and portfolio companies as well as the cities, countries, and communities in which we operate. Respecting and encouraging difference creates an interesting, enriching culture at the firm and makes TPG more innovative, more creative, and more effective in everything we do.