Apple is allocating a portion of cash to women-owned investment adviser Seelaus Asset Management, which will use fees from the investment to support a new one-year rotational job program for women.
Seelaus Asset Management, a women-owned business enterprise, announced the launch of a new one-year rotational job program designed to give young women access to opportunities to enter and learn about the asset management business. Analysts will work closely with various departments to learn about portfolio management, operations, research, trade execution, compliance, marketing, finance and business development.
Seelaus is launching the program with support from Apple, and will also be managing a portfolio for the company. The portfolio will be managed by the existing Seelaus Asset Management team. The allocation from Apple is a step forward for minority and women-owned asset managers as institutional investor support is key in allowing MWBE managers to better support their demographic.
“Women remain critically underrepresented at every level of the asset management industry, with the pandemic putting even more pressure on women in the workforce. We at Seelaus are committed to being part of the solution and building a stronger pipeline of young women into the field,” said Annie Seelaus, CEO of R. Seelaus & Co., Inc., in a statement. “We are honored to have the support of Apple who has been at the forefront of the diversity and inclusion discussion and recognizes the need to drive impact across their business, including with their investment dollars.”
Seelaus has begun recruiting for the program at several Historically Black Colleges and Universities and other Minority-Serving Institutions as well as through the alumni networks of the local non-profits they support. Annie Seelaus concluded by saying, “Our hope is that this proves to be an incredibly simple and scalable approach to attracting and retaining women in asset management, and that the program grows significantly over time.”
MacDailyNews Note: More info about Seelaus here.