Petra

“Hello, everyone. I'm Petra Logunes Targarona, Head of Germany and Austria. And I'm delighted to be joined here today by Sergio Ramirez, our Chief Revenue Officer and Head of the Global Client Group to talk about inclusion in the workplace. Sergio, thank you for being here.

Sergio

Thank you for having me, Petra, and great to see you.

Petra

I thought we could start by finding out about yourself. So what's your background? And what was your journey into the asset management industry?

Sergio

So my background, I was born in Lima, Peru, migrated to the United States with my family, as a teenager, went to school here in New York City, both High School, College and Grad School, and joined the asset management industry at a very early age, but not through any planning.

Frankly, it was through serendipity, it was through good fortune, it was through a bit of luck. And as I say that, a bit of luck, it's sort of like terrible advice. How do you become successful in asset management? Well, get lucky! But that's part of frankly, every recipe for anyone that's been successful. I think you need a little bit of good fortune. I think you need a ton of support from your peers, from your mentors, from your colleagues.

And you need to find opportunity whenever it emerges, and pounce on it. Do not hesitate. So that's sort of how I came to into the asset management industry, frankly, with no plans of getting into it. I never had a dream of being in the asset management industry. Like other kids, I wanted to be a sports player, be it baseball or football. But that didn't materialize. So here I am in asset management.

Petra

It sounds really like a very exciting journey that you had. So how do you feel your experiences and your background have shaped your perspective on inclusion within the workplace? And what actually does inclusion mean to you both personally and professionally?

Sergio

Well, I think background really shapes how you think about the world. And I was raised by what I like to call a pack of “she-wolves”. I was raised by my mom, my sister, my grandmother, my godmother, a ton of aunts, and several female cousins, so I had a lot of female influence around me growing up.

And I think that helped to shape the way I think about inclusion. Growing up in that environment, you quickly learn of the contributions that everyone makes, irrespective of their gender. And if I stretch that out to business, irrespective of their background. So being part of that environment really helped me to appreciate the contributions that anyone can make, irrespective of their background.

And so, as I think about business, and the professional world that we operate in, that translates pretty seamlessly, in ensuring that when we're around a table, at a conference table or interacting with colleagues, there's a ton of value that people can bring to the table as long as you include them, as long as you create an inclusive environment, to really capture the value of a diverse individual, or a thought diversity that you might not otherwise get unless you foster an environment of inclusion.

Petra

My experience when I started in the industry, as a woman, is that I had to fight for recognition compared to my male peers. And it's great to see that it has changed so much over the years. And I'm really proud to be part of the PineBridge family, as the culture I feel really promotes women across the board and fosters inclusivity. So being involved in hiring processes really made it so obvious that the focus today is on the talent and the character of individuals rather than on gender or appearance.

Sergio

Yeah, look I think we've come a long way, no question about it. I think we still have a lot more work to do. That's clear to me. And I think we've done a pretty decent job over the last few years of ensuring that we advance the process of inclusivity within PineBridge, by creating the conditions for many individuals to lead in that regard. So I'm glad you feel that way.

Petra

Absolutely, so in what ways do you believe that our company can foster a more inclusive environment for individuals from diverse backgrounds? And could you also please share with us an example of how inclusion has positively impacted our organization?

Sergio

I find that one of the mistakes that many organizations make is thinking that a pure top-down approach will foster a successful D&I initiative. I don't think that's the case. I think it clearly starts from the top down, you clearly need support and drive and belief from a management team to create an environment of inclusivity.

But at the same time, I think it is imperative that you have a bottom-up approach, where there's an organic movement, not a top-down edict, but an organic movement that really drives the initiative from the bottom-up.

And I think here at PineBridge, we've been very fortunate that we have successfully, I think created such an environment. I think of our employee resource groups, whether it's the Black Employee Network, LGBTQ+ and allies, GenBridge, or the Women's Network, those were all fostered from the bottom-up.

These were leaders within the organization that decided that a more coordinated representation and clearly a celebration of these underrepresented groups needed to come to the forefront. And as management, what we did is simply support it, create a welcoming environment for those organizations to thrive. And as I think about it, now, I think we're probably in maybe, call it “two and a half”, or third year of those resource groups being created.

The work that they've done is phenomenal, including most recently, of course, our Black Employee, Network, participants and leaders, creating snippets and videos and posting them on our intranet, celebrating Black History Month, this month. So, I'm really, really happy that we've been able to not only support from the top-down, but more importantly, support all of those from the bottom-up to create this movement, that is now our employee resource groups and many other initiatives around the world.

Petra

These are really some unique examples. Thank you for sharing. And as a last word, as someone who has achieved remarkable success despite facing obstacles, what is your advice that you would give to your younger self and individuals from underrepresented communities, starting out in asset management or thinking about a career in finance.

Sergio

I appreciate the kind words of our remarkable success, I think, we still have some way to go there. But I really, really appreciate that comment. So I think, it's always challenging, providing advice to oneself when one is younger, simply because, first, we don't have a time machine, but more importantly, you know, with the benefit of hindsight, I would do so many things differently.

One of them would be taking on more risk. I think that as a younger individual, irrespective of your background, you have an opportunity to take on risks that if they don't pan out, you still have plenty of time to remedy that and find your groove.

So, I would take on more risk. I would balance courage with caution, to ensure that the risks that are being taken are appropriate. I would probably align myself with far more mentors, and far more peers that could provide me with constructive observations and essentially learn from their mistakes, instead of only learning from my mistakes.

I would welcome failure a little bit more, or embrace it or accept it, recognizing that failure is not the final outcome but really part of the learning journey. I would tell myself that resiliency is a key attribute to have and I would find ways of getting to that point. And I guess equally important now, if I think about the mistakes that I made as a young individual, or the steps that I had to take, cherishing time, making sure that my time is spent in valuable ways. I think as younger professionals or underrepresented professionals, we tend to think that we have an abundance of time. And that's not the case.

So, I think how you spend your time, there's an opportunity cost to it and therefore, you need to make sure that you're maximizing the value that you're getting out of the time that you're spending. But I think overall, taking on more risk, pairing up with more mentors and peers that can help me grow and being extremely resilient, while at the same time recognizing that failure is not the final outcome, but it's essentially just a process that you go through in order to climb the learning curve.

Petra

I can really echo what you just said and I always recommend just be yourself and immerse yourself in the opportunity. Don't be afraid to voice your opinion, even in the face of adversity. So Sergio, thank you so much for sharing your experiences and perspectives on Inspiring Inclusion within PineBridge, your insights are really truly inspiring.

Sergio

Thank you, Petra, it’s been great to see you. And thank you for having me.

Petra

And thank you to all for joining us today. Remember, together we can continue to inspire change and make a positive impact, not just within our organization, but in the world around us. Until the next time, goodbye.”

ENDS