The events of 2020 challenged FS Investments to further examine its years-long commitment to building a more diverse, equitable and inclusive organization. The firm’s employee-led Inclusion Council expanded its work, conducting anti-bias training, launching a new internal Courageous Conversation series through which employees were provided a safe space for meaningful discussion, and hosting a virtual firmwide meeting to educate colleagues and board members on the roots of systemic racism. In addition, it established a supplier diversity program and supported firm and FS Foundation partnerships that promote equity and inclusion. “We go to great lengths to create a welcoming, inclusive environment that attracts, develops, and retains top talent. Whether through our employee-led inclusion council and ERGs, engagement in DEI partnerships within our industry, or our focus on firm and philanthropic initiatives that work to address system issues,” said Mike Gerber, chief corporate affairs officer.
One of these partnerships is with the Philadelphia Financial Scholars program, a financial literacy program for high school students, which has expanded since its founding in 2016 and now includes in-class financial literacy education, after-school entrepreneurship training, a summer business accelerator program at the University of Pennsylvania’s Wharton School, college application support services, and an evening/weekend financial curriculum for the teachers, families and caregivers of the students. Observing the disproportionate impact of the pandemic on Black and brown households, the firm spun out the program into a new, independent nonprofit called Philadelphia Financial Scholars and recruited other supporters from the Philadelphia financial services community. The nonprofit is hiring a full-time executive director and other staff to expand in Philadelphia and, ultimately, other cities.
Contact: Mollie Applegate, corporate communications, mollie.applegate@fsinvestments.com.
— Evan Cooper