Collaborating to Diversify the City's Broker-Dealer Pool
FINANCE THE CITY OF GRAND RAPIDS, MICHIGAN Historically, minority-, woman-, and/or veteran-owned business enterprises [MWVBEs] have not played a significant role in the City of Grand Rapids' investment portfolio, but as the result of an intentional effort to seek out 1 hese firms, approximately...
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| Veröffentlicht in: | Government Finance Review 2023-04, Vol.39 (2), p.53-55 |
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| description | FINANCE THE CITY OF GRAND RAPIDS, MICHIGAN Historically, minority-, woman-, and/or veteran-owned business enterprises [MWVBEs] have not played a significant role in the City of Grand Rapids' investment portfolio, but as the result of an intentional effort to seek out 1 hese firms, approximately 30 percent of the city's investment portfolio is now sourced from broker-dealer firms owned by people of color, women, and/or veterans. John Globensky, the city treasurer, said that he first started thinking about ways to diversify the city's pool of broker-dealers when thenCity Commissioner Joe Jones [now president and chief executive officer of consulting firm The Hekima Group] brought the idea to him in 2017. [...]quite often, it's a very homogenous group of contractors, suppliers, and vendors, and so I thought this was a really big deal. OFFICE OF EQUITY AND ENGAGEMENTJOE JONESFORMER CITY COMMISSIONERJOHN GLOBENSKYCITY TREASURERLEVI BOLDTINVESTMENT ANALYST Boldt said that he and Glcbensky have also reviewed the city s investment policy to identify any barriers that might exist for additional MWVBE broker-dealer firms that would like to do business with the city, and they identified a few parts of their policy that favored larger firms. |
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OFFICE OF EQUITY AND ENGAGEMENTJOE JONESFORMER CITY COMMISSIONERJOHN GLOBENSKYCITY TREASURERLEVI BOLDTINVESTMENT ANALYST Boldt said that he and Glcbensky have also reviewed the city s investment policy to identify any barriers that might exist for additional MWVBE broker-dealer firms that would like to do business with the city, and they identified a few parts of their policy that favored larger firms.</description><identifier>ISSN: 0883-7856</identifier><language>eng</language><publisher>Chicago: Government Finance Officers Association</publisher><subject>Collaboration ; Departments ; Diversity equity & inclusion ; Equity ; Injustice ; Investment advisors ; Minority & ethnic groups ; Minority owned businesses ; Multiculturalism & pluralism</subject><ispartof>Government Finance Review, 2023-04, Vol.39 (2), p.53-55</ispartof><rights>Copyright Government Finance Officers Association Apr 2023</rights><woscitedreferencessubscribed>false</woscitedreferencessubscribed></display><links><openurl>$$Topenurl_article</openurl><openurlfulltext>$$Topenurlfull_article</openurlfulltext><thumbnail>$$Tsyndetics_thumb_exl</thumbnail><link.rule.ids>312,776,780,787</link.rule.ids></links><search><creatorcontrib>Ludwig, Katie</creatorcontrib><title>Collaborating to Diversify the City's Broker-Dealer Pool</title><title>Government Finance Review</title><description>FINANCE THE CITY OF GRAND RAPIDS, MICHIGAN Historically, minority-, woman-, and/or veteran-owned business enterprises [MWVBEs] have not played a significant role in the City of Grand Rapids' investment portfolio, but as the result of an intentional effort to seek out 1 hese firms, approximately 30 percent of the city's investment portfolio is now sourced from broker-dealer firms owned by people of color, women, and/or veterans. 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OFFICE OF EQUITY AND ENGAGEMENTJOE JONESFORMER CITY COMMISSIONERJOHN GLOBENSKYCITY TREASURERLEVI BOLDTINVESTMENT ANALYST Boldt said that he and Glcbensky have also reviewed the city s investment policy to identify any barriers that might exist for additional MWVBE broker-dealer firms that would like to do business with the city, and they identified a few parts of their policy that favored larger firms.</description><subject>Collaboration</subject><subject>Departments</subject><subject>Diversity equity & inclusion</subject><subject>Equity</subject><subject>Injustice</subject><subject>Investment advisors</subject><subject>Minority & ethnic groups</subject><subject>Minority owned businesses</subject><subject>Multiculturalism & 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| fulltext | fulltext |
| identifier | ISSN: 0883-7856 |
| ispartof | Government Finance Review, 2023-04, Vol.39 (2), p.53-55 |
| issn | 0883-7856 |
| language | eng |
| recordid | cdi_proquest_reports_2802105915 |
| source | Alma/SFX Local Collection |
| subjects | Collaboration Departments Diversity equity & inclusion Equity Injustice Investment advisors Minority & ethnic groups Minority owned businesses Multiculturalism & pluralism |
| title | Collaborating to Diversify the City's Broker-Dealer Pool |
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