Leading the team that manages relationships with the 350 asset management firms distributing products through Morgan Stanley, Carlos Muñoz has another important role.
He heads the Equity Collective, a Morgan Stanley initiative that brings together 27 wealth and asset management businesses to educate, empower and develop the next generation of diverse leaders.
The three organizations the group thus far has helped — Boys & Girls Clubs of America, Team IMPACT and HIVE Diversity — have educated about careers in financial services; helped students with resume advice, internships and summer jobs; and matched chronically ill children with student athletes to help combat isolation.
“Our industry does a terrible job of identifying what we do,” Muñoz said. “Young people don’t know the range of jobs that are available and think they need a degree in economics or an MBA. We lose out on diverse talent because they don’t think they belong or that there’s a place for them at the table.”
Muñoz, who came to the New York area from Colombia at 7, found his place at the financial services table through a high school internship at a wirehouse. He loved the business and after college took a job in asset management at Citigroup, speaking to advisers with Latin American clients. After a short stint at another firm, he joined Morgan Stanley in 2011.
“With our young people, we stress the importance of networking and having a mentor, so you don’t have to do it alone,” he said. “We also encourage industry leaders to step up and be a resource and champion for others.”