Recognizing that the lack of diversity in the Chicago-area financial services sector has a negative impact on the competitiveness and equity of the region, and on the organizational cultures and financial firms’ “bottom lines,” a group of Chicago-based financial institutions joined forces with The Chicago Community Trust—the region’s community foundation—to form the Financial Services Pipeline (FSP) Initiative in 2013. Founding members of the FSP include Ariel Investments, BMO Financial Group, the Federal Reserve Bank of Chicago (FRBC), Holland Capital Management, Loop Capital, Northern Trust, and Urban Partnership Bank. A number of financial institutions core to Chicago’s financial and civic life have since joined the group; CME Group, Discover, Federal Home Loan Bank of Chicago, the Illinois State Treasurer’s Office, Madison Dearborn Partners, Mesirow Financial, Morgan Stanley, U.S. Bank, CIBC (formerly The PrivateBank), William Blair, and Wintrust. Today, the FSP Initiative members represent collectively more than 30,000 leaders and professionals in Chicagoland’s financial industry – close to 50 percent of the total Chicagoland financial industry population.
The FSP Initiative is governed by a CEO Leadership Council co-chaired by Dr. Helene Gayle, President and CEO of The Chicago Community Trust (CCT); Matt Feldman, President and CEO of the Federal Home Loan Bank of Chicago; and John W. Rogers, Jr., Chairman and CEO of Ariel Investments. It is also governed by a Steering Committee co-chaired by Nokihomis Willis, Senior VP and Chief Diversity Officer at the FRBC, Perika Sampson, Regional Diversity Officer for Morgan Stanley Wealth Managements’s Great Lakes Region and Matthew Bruce, Executive Director for Chicagoland Workforce Funders Alliance at CCT. Jamica Quillin of the FRBC acts as the Program Manager for the Initiative.