FundFire article "MeToo Prompts Consultant to Create "Unfavorable News Committee"" covers NEPC's newest committee. Subscribe to read the full story on FundFire's website.
The #MeToo movement has led some consultants to closely monitor asset managers by creating committees dedicated to reviewing misconduct and non-business-related issues.
One investment consultant, NEPC, has created an “unfavorable news committee” to address these issues.
“Throughout the fall last year, we all saw a lot of news stories about sexual harassment, particularly in the entertainment industry,” says Tim McCusker, CIO at NEPC, who notes that the committee was created in January. “We knew there was no way the investment industry avoids this and there’s definitely bad behavior. Early this year, we had a situation like this happen [at an asset management firm], so we had to assess the cultural environment, the impact and how its leader was treating people at the company.”