Toigo News Archive
Founded in 1989, the Robert Toigo Foundation’s commitment is to bring increased diversity to the finance industry.
Here’s a look at Toigo Fellows and the Foundation—and how we’re making news. As a partner to industry, Toigo is consistently sought to offer valuable insights into issues relating to diversity, graduate business school education, and helping firms keep an eye on long-term strategic diversity goals.
To view the full articles, please visit the publications website and search on the article title.
- 2012 / In the News
- 2011 / In the News
- 2010 / In the News
- 2009 / In the News
- 2008 / In the News
- 2007 / In the News
- 2006 & 2005 / In the News
2012 / In the News
Women Leaders Share Wisdom at Second Annual Toigo Groundbreakers Summit
By Melissa J. Anderson (New York City) | December 20, 2012 – Last week, the Toigo Foundation held its Groundbreakers Summit for female leaders. While this was just the second annual summit, the Foundation has worked for over two decades to bring diversity to the financial sector.
The Case for the MBA Degree
October – November 2012 – Toigo Fellow Carolyn Inoa (Chicago-Booth ‘13) is quoted in this Poder magazine article. “Urging Hispanics to consider MBA programs is only a beginning—money, access and comfort levels are also key.”
Romney’s LBO World Is Boys’ Club With Few Women
Bloomberg Businessweek | August 31, 2012 – Rhonda Ryan didn’t meet many other women when she broke into the private-equity business 15 years ago. Today, she’s still the rare female executive in an industry pushed into the spotlight by the presidential campaign of Mitt Romney, co-founder of buyout firm Bain Capital LLC.
Toigo Foundation Program Finds Success Through Investing In Fellows
June 2012 – The Robert Toigo Foundation is hoping to build off the successes of its first recipients of its Bridge to Business grants as it looks to create a program that provides not only vital capital to entrepreneurs in the asset management space but also to construct a network of valuable resources to leverage its position as a leading supporter of women and minorities in the business world.
A Conversation with Nancy Sims - Featured in May 2012 Institutional Real Estate Letter
With Larry Gray May 2012 – Too often hiring diverse talent is framed with an implicit sense of risk or quality tradeoff. Toigo is dispelling that myth by presenting to the industry the best - outstanding professionals, high caliber talent and fresh, multicultural perspectives and experiences.
Haas’s Answer to the Affirmative Action Ban
By Erin Zlomek | May 18, 2012 – As minority representation on corporate boards dwindles, most MBA programs are quick to brag about the diversity of their student bodies—alluding to the fact that they are producing a wide variety of future managers. But enrolling a diverse group of students is harder for some schools than others.
Toigo Foundation’s All A Board Receives $100,000 W.K. Kellogg Grant To Fuel Development & Deployment of Candidate Clearinghouse
Oakland, CA. (PRWEB) March 26, 2012 – All A Board is a natural extension of Toigo’s 20-year mission to promote leadership development and advancement of minority professionals within finance. Members of its network of nearly 1,000 minority MBA graduates are among those featured in the clearinghouse. Toigo launched the All A Board candidate clearinghouse in 2011; the Kellogg Foundation grant will provide added resources for expanding the technology platform. In addition to the Kellogg grant, the Toigo Foundation is also seeking additional grants and corporate underwriting to support its board leadership efforts.
Getting on Board: Advice for Minority Women on Pursuing Board Service
By Robin Madell (San Francisco) – Three percent. That dismal number reflects the number of overall board seats held by women of color directors among Fortune 500 companies in 2011, according to Catalyst’s latest study on Women on Boards.
We may have grown weary of seeing numbers under 20 percent for women’s total board membership—in the United States, the latest figure is 16.1 percent, with the vast majority of countries studied posting even lower numbers. Yet when we scrutinize the data still further, we see that most board seats in women’s too-small slice of the pie—13.1 percent—are held by white women.
2011 / In the News
Common Themes For Success Emerge In A Diverse Room
December 2011, By Meghan Doherty | 85 Broads – Last week, I had the great pleasure of attending the Toigo Groundbreakers Summit on behalf of 85 Broads. The speakers and attendees worked in a variety of industries ranging from government and finance, to fashion, non-profits and start-ups. They were Caucasian, African-American, Asian and Hispanic. Some were 25; others...
Toigo Foundation Names Two Emerging Manager Funds as Inaugural Bridge to Business Award Recipients
Entrepreneurial Program Created With $1 Million Pledge to Inspire & Support Diverse Professionals Launching New Investment Ventures | OAKLAND, CA. (Sept. 20, 2011) – The Toigo Institute for Leadership Excellence Advancement and Diversity (I-LEAD) today announced two $100,000 award recipients of the non-profit’s Bridge to Business initiative, a program aimed at supporting the successful launch and growth of Toigo Alumni-owned finance businesses. The Bridge to Business award recipients—Nili Gilbert of Matarin Capital Management and Tarrus Richardson of Investors in Minority Business Development Corporation (IMB)—were chosen for their distinctive business model, team cohesion and growth potential.
Toigo Foundation Launches All A Board, A Diverse Directors Clearinghouse Connecting Women & Minority Board Candidates
with Public Companies, Non-Profits
OAKLAND, CA. (April 6, 2011) – The Toigo Institute for Leadership Excellence Advancement and Diversity (I-LEAD) today announced All A Board, a diverse directors initiative with the goal of increasing board diversity on corporate and non-profit boards by providing ready access to minority and female professionals poised for board service.
2010 / In the News
Linda Chun Meehan (former Toigo Consultant) on Wall Street's Diversity Efforts Today
September 2010 – Former MBA Programming consultant is featured on eFinancialCareersTV to discuss Wall Street's Diversity Efforts Today and the role organizations like Toigo are playing to create change.
CalPERS Appoints Tim Legesse Investment Officer For
March 2010 – The California Public Employees’ Retirement System (CalPERS) has named Tim Legesse (Toigo Alumnus, UC Berkeley/Haas ‘94) its new Investment Officer for Diversity. Legesse, 44, will be responsible for reaching out to new and emerging money managers, acting as a point of contact for investment professionals seeking to do business with the nation’s largest public pension fund. He also will work across CalPERS five asset classes on diversity initiatives and programs, while keeping the financial community informed about the Fund’s policies.
MBA Candidates Say Bad Economy Does Not Bother Them
March 2010 – “Jobs, jobs, jobs. Everyone is thinking it but not necessarily talking hiring, especially Wall Street. Young Employees This paradigm was foremost in my mind on Friday as I listened to prospective MBA candidates go through simulations of the various functions within the finance industry at an event hosted by the Robert Toigo Foundation. The event was meant to bring minority MBA candidates in direct contact with Wall Street bankers to experience typical day in their lives and allow them a peek into a banker’s many job functions. As bankers from Goldman Sachs, Citibank, J.P. Morgan, and later Credit Suisse, UBS, and Bank of America Merrill Lynch took the students through the art of negotiation, mergers, private equity, wealth management, and even the sales and trading desk, recruiters sat in the shadows observing, aiming to spot early talent. Almost all of them said they had actively recruited this year. Not huge numbers, but hiring had taken place.”
Kellogg Foundation Names Director of Investments
February 2010 – The W.K. Kellogg Foundation announces the selection of Reginald G. Sanders (Toigo Alumnus, Harvard ‘02) as a director of investments for the foundation. He will join the staff March 1, reporting to Vice President/Chief Investment Officer Joel Wittenberg. In his new role, Sanders will be responsible for investment policy and strategy, and portfolio and investment management.
2009 / In the News
Toigo Rings NASDAQ Closing Bell
November 10, 2009 – Flanked by Toigo Fellows, Alumni, Board Members and staff, founder Sue Toigo rang the NASDAQ closing bell.
Toigo Launches New Private Equity Post-Graduate Fellowship
The Carlyle Group Pledges $1 Million as Inaugural Partner
October 22, 2009 – The Robert Toigo Foundation and global private equity firm The Carlyle Group today announced the launch of the Toigo Private Equity MBA Fellowship, an industry initiative aimed at attracting minority MBA graduates to the sector. Serving as the Fellowship’s inaugural partner, The Carlyle Group has pledged $1 million over four years to support Toigo’s launch of the effort. Toigo is a non-profit organization that has supported the development of minority MBAs as finance leaders for the past 20 years.
Featured in WSJ PE Beat (blog)/Dow Jones LBO Wire, New York Times DealBook Blogs, Reuters Blogs, Washington Business Journal
The Stern Opportunity: The Voice of NYU’s Stern School of Business
Allan Boomer: Raising the Bar of Alumni Excellence
October 20, 1009 – Toigo Alumnus Alan Boomer (NYU Stern ‘04) always finds ways to give-back—a core tenet of Toigo Fellowship. A Vice President in Goldman Sachs’ Private Wealth Management Group, Boomer serves as Chairman of the NYU Stern Alumni Council and was recently named Association of Hispanic and Black Business Students Distinguished Alumnus of the year. His devoted service to the school and his insights into his success as a finance professional and community leader are featured in this Stern Opportunity profile.
Fortune Magazine | Dotcom Diva: Partners in Style
September 2009 – Toigo Alumna Alexandra Wilkis Wilson (Harvard ‘99) and her business partners Alexis Maybank (Harvard ‘97) dreamed up and launched Gilt Groupe, an online invitation-only site that brings New York sample sales to fashionistas worldwide. Funding from former DoubleClick CEO Kevin Ryan and venture capitalist firm Matrix Partners, helped the duo launched Gilt in 2007. The site now has 1 million-plus members and posted nearly $100 million in revenue in 2008.
Click here to learn more about Gilt Groupe.
CBNC: Smart Money | Featured Interview
August 11, 2009 – Toigo Alumnus Eddie Ramos of Morgan Stanley / Van Kampen International Advantage fund provides perspectives to the Smart Money hosts—and CNBC viewers. The Toigo Alum, whose fund is up 28% in 2009, discusses emerging markets, shifting demographics and smart investment.
Rosie Rios, MacFarlane Partners-Mananging Director of Investments, Confirmed as Treasurer of the
JULY 28, 2009 – The United States Senate confirms Toigo Foundation Advisory Board Member Rosa Gumataotao Rios as Treasurer of the United States.
Managers, Minority Leaders Gather for Conference, Gala
July 2009 – This full-page feature covers Toigo’s 20th Anniversary Gala as well as the Annual Plan Sponsor & Minority Manager Consortium held for the first time this year in Los Angeles. The story includes an interview with Sue Toigo, and photos of various attendees.
SF Gate: Leah’s List: Day One - Introduction
July 6, 2009 – Leah D. Williams (CEO, Strategies, LLC) spotlightes corporate, non-profit, education and community leaders from across the United States. In her inaugural “Leah’s List” she includes, Toigo Foundation President, Nancy Sims.
Raging Bulls: End of the Recession
July 1, 2009 – Toigo Alumnus Eddie Ramos of Van Kampen Investments was featured on CNBC providing timely perspectives on global and US markets.
June 29, 2009
Emory Admissions Tips
Associate dean and director of admissions at Emory’s Goizueta School of Business Julie Barefoot talks about the importance diversity in the student body, and its work with Toigo. She also offers sound advice regarding an applicant’s most significant achievement and why the school values interviews.
June 11, 2009
On the Move
Pharos Capital Group, LLC, a private equity firm based in Dallas and Nashville, announced the promotion of Joseph Acevedo, a Toigo Alumnus, from Associate to Vice President. Acevedo joined Pharos in 2006 as an Associate and has over a dozen years of experience as a private equity, media, and Wall Street professional. Prior to joining Pharos, Acevedo was Director of Business Development at Univision Communications, Inc. where he launched and managed the company’s home entertainment division. Acevedo graduated from Harvard College with a BA, cum laude, in Government and holds an MBA in Finance from the Wharton School, where he was a Toigo Foundation Fellow.
Northern Trust Executive Loves ‘Being Part of Something Important’
April 27, 2009
A Q&A with Toigo Alumnus, Shundrawn Thomas, (President, Northern Trust Securities) who says, as a child, he knew he wanted to be in the business world. He talks about balancing family, faith and finance.
Ambitious Toigo Foundation Puts Stock in Minority Capital
Wall Street hardly has been a safe haven for aspiring and ambitious minority MBA graduates. But that is where the Robert Toigo Foundation comes in. Diversified Recruitment Inc.’s resource article outlines the story of Toigo and its mission of effectively smoothing the waters for minority graduates and positioning them for success and leadership in today’s demanding global finance economy. By doing so, the Foundation has built an infrastructure to foster economic development in underserved communities.
The Wall Street Journal
Schools Get Creative to Hike Minority M.B.A. Enrollment
By Pepi Sappal
An inside look at the challenges—and opportunities—facing minority MBA applicants. A host of resources, including the Toigo Foundation, are referenced in this Career Journal article.
NAIC & TMC Celebrate Change
The National Association of Investment Companies (NAIC) and The Marathon Club for Entrepreneurship (TMC) hosted “The Pathway to Minority Wealth Creation”, The Private Equity Industry Inaugural Gala Reception on Sunday, January 18th, 2009. The event honors the election of Barack H. Obama as the 44th President of the United States and features remarks from the organizations’ leadership, business innovators and key elected officials from across the nation. The NAIC and TMC partnered to host this event to acknowledge an important change, contribute to the strengthening of our economy, and to actively support the new Administration. A portion of the proceeds from the event will benefit the National Foundation for Teaching Entrepreneurship and the Robert Toigo Foundation.
2008 / In the News
Black Students Wanted for Careers in Finance
This story spotlights the Toigo Foundation’s Facebook strategy of outreach to prospective MBAs.
Institutional Real Estate Letter
This diversity-focused trend story reports progress made to date in building the minority talent pool and serves as a call to action for continued diversity recruitment in institutional real estate. The Toigo Foundation is prominently covered in this feature.
The Robert Toigo Foundation Launches Facebook Community
Toigo Foundation Launches Facebook Community for Future Fellows - And Finance Leaders Committed to change the face of finance by educating minorities about career possibilities within the field of finance, the Robert Toigo Foundation today launched a new Toigo Fellowship Facebook page complete with MBA application tips, Fellowship information and more. “Toigo’s Fellowship Facebook is bringing together young professionals of color who share a common interest in pursuing an MBA and a career in finance—and bringing them together online, in a way they prefer to share and find information.”
September 25, 2008
Financial Crisis Puts Diversity Gains at Risk
Advocates for diversity hiring on Wall Street worry that the financial crisis will derail progress, according to this BusinessWeek. Yvonne Hart, associate director of MBA student programming at Toigo, noted the Foundation has been keeping a close eye on how the financial crisis is affecting minority students. “There will be more people for fewer seats, and experienced people, who maybe out of desperation might be more amenable to taking a role for a junior person. So what does that do to that junior person out there? It’s one of our main concerns.”
Emerging Manager Monthly
July 2, 2008
Mar Vista Founder Honored At Robert Toigo Foundation Gala
Toigo Alum Silas Myers, CEO of Roxbury affiliate Mar Vista Investment Partners, received the “Leading by Example” award at the 7th annual Robert Toigo Foundation Gala.
Kauffman Fellows Program eBulletin
June 27, 2008
KFP Presents at Toigo Career Fair
Kauffman Foundation’s Center for Venture Education thanks Toigo Alum Daphne Dufresne for leading the KFP’s marketing efforts at the annual Robert Toigo Foundation Gala and career fair in New York.
The Roxbury Report
Silas Myers Receives Industry Award
Mar Vista Investment Partners celebrates Silas Myers, CEO of Roxbury affiliate for his recognition and receipt of Toigo’s “Leading by Example” award at the seventh annual Robert Toigo Foundation Gala.
April 28, 2008
Toigo announces its intention to revisit its Retention Returns survey and provide the finance industry with a Fall 2008 assessment of how recent market trends and workforce cutbacks are affecting minority professionals.
March 9, 2008
Una via para ser empresario
The nation’s leadiing Spanish-language paper covers Toigo’s recent move to open up Fellowship applications to JD/MBAs and Masters in Finance Students. Toigo President, Nancy Sims, offers insights into the importance for expanding beyond MBAs as finance firms recruit more broadly.
March 3, 2008
In Sickness and Wealth Management
There’s a growing need for more Hispanic finance professionals—especially within the field of private wealth management. Toigo’s work is highlighted as an example of efforts being made in partnership with leaders in finance.
March 3, 2008
Hiring Women, Minorities Increases Slightly
Toigo President, Nancy Sims provides insights regarding the increase of women and people of color in the finance talent pool—and the need and importance for the industry to continue to recruit and retain more minorities.
March 1, 2008
A New Type of Gentrification
Finance professionals of color are giving back to help pave the way for future generations. The Robert Toigo Foundation and its Fellows are part of the trend.
Emerging Manager Monthly
Matterhorn Takes International Equity Product to Inst’l Space
Hispanic-owned Matterhorn Capital Management, which boasts an international equity portfolio and has seen its assets double over the last year. Toigo President, Nancy Sims provides insights.
February 6, 2008
Subcommittee Hearing on “Diversity in the Financial Services Sector”
Review Toigo President Nancy Sims’ remarks before the U.S. Congress—and her call to action for the finance industry to find ways to recruit and retain more minority talent and ensure their workforces better reflect the markets they serve.
US Fed News
January 31, 2008
Comptroller DiNapoli Names Chief Investment Officer
Comptroller Thomas P. DiNapoli named Toigo Alumna and Board Member Raudline Etienne as Chief Investment Officer for the $154 billion New York State Common Retirement Fund. Previously, Etienne was Managing Director at Rogerscasey.
Pensions & Investments
January 31, 2008
N.Y. State Common Picks New CIO
Toigo Board Member and Alumna, Raudline Etienne, is spotlighted in this news story focused on her appointment as CIO of the $154 billion New York State Common Retirement Fund, Albany.
2007 / In the News
The Changing Face of Venture Capital
Toigo Alum, Jay Ferguson, provides valuable insights into diversity in venture capital—and a look at the industry’s push to attract and retain more diverse senior professionals.
The Institutional Real Estate Letter
Toigo Fellows Peter Chung, Steffanie Edwards, Aaron Graf, Kathryn Knight, Khalid Rashid and Agustin Rizo were recognized by the Pension Real Estate Association at its fall conference in Beverly Hills. The Fellows were awarded this year’s PREA/Toigo Fellowship. The story also includes an interview with Toigo Mentor, Chauncey Mayfield, president and CEO of MayfieldGentry Realty Advisors, and recognizes other supportive firms such as ING Clarion, MacFarlane Partners and Valencia Management. News of the 2007 Toigo Gala is also highlighted.
Toigo Alumnus Shundrawn Thomas—and his rapid rise through the leadership ranks at Northern Trust—is the feature of this week’s Crain’s Chicago Business Spotlight.
October 11, 2007
Toigo Foundation Launches National Campaign To Inspire Young Minorities
The Education section feature focuses on the national ToigoTalks campaign and the launch of the Ready-For-Finance site. Toigo President, Nancy Sims offers insights into the importance of reaching minorities earlier—while in college or even before—to communicate the opportunities a career in finance offers. Check out the HB story link on www.hispanicamericans.com, www.newcareerwebblog.com, www.yourcareeradvisor.com and many other online sites.
October 1, 2007
Peer to Peer; They’re Not Bankers, But Their Prowess in the Financial Services Field is Legendary: Meet the Other Women Who Matter Toigo Board Member, Anne Stausboll of CalPERS is featured as a pioneer in the field of finance.
The Oakland Tribune
September 24, 2007
Toigo Foundation Aims to Help Minorities Forging Business Careers
Toigo President, Nancy and Toigo Alumnus, Les Hollis provide their perspectives on the importance of Toigo’s work and its key accomplishments in this front page business story. The launch of Toigo’s Ready For Finance resource site is featured as well.
Journal of EDM Finance
Slow But Sure
This Toigo feature focuses on retention challenges in finance, and provides recommendations for improving conditions industry-wide. Interviews include Toigo President, Nancy Sims.
Black MBA Magazine
Summer Issue 2007
Ambitious Toigo Foundation Puts Stock in Minority Capital
A spotlight on top African Americans on Wall Street, including interviews with include Toigo President, Nancy Sims, and Toigo Alumna and Chair of the Foundation's Alumni Endowment Board, Raudline Etienne.
Hispanic Outlook in Higher Education
Progress is being made in building the Hispanic talent pool in our nation’s leading MBA programs and in the field of finance. Interviews with Toigo Foundation President, Nancy Sims, and Former Toigo Board Member, Michael Torres provide perspectives.
Foundation & Endowment Money Management
Toigo Foundation to Decide Investment Strategy, Hire Managers
Toigo Alumna and Chair of Robert Toigo Foundation’s Alumni Endowment Board, Raudline Etienne discusses Toigo’s efforts to build the minority talent pool in finance. The feature also reports on the Foundation’s recent capital campaign results.
Money Management Letter
March 26, 2007
RogersCasey Gears Up to Grow Alternative Advice Biz
Toigo Alumna Raudline Etienne is profiled in a front page feature—underscoring Toigo and Etienne’s commitment to increasing diversity in finance.
March 20, 2007
Minority Retention Requires Real Change, Group Says
Toigo’s Retention Returns survey is the catalyst for this Wall Street diversity trend story, which highlights how finance professionals of color tend to “look toward the door... nudged by a pattern of events that may hold clues to more effective retention.”
Report: Companies Should Help Workers Get Comfortable, Stay Awhile
A feature on Toigo’s Retention Returns survey spotlights minority retention challenges in finance, and provides recommendations for improving conditions industry-wide. Interviews with Toigo Alumna, Mina Pacheco Nazemi of GE Asset Management provide a first-hand perspective.
January 22, 2007
Crossing the Divide: Group Promotes African-American Success in Business
Nancy Sims discusses about Toigo’s mission and accomplishments in helping business professionals of color succeed in the workplace on NPR’s nationally syndicated radio show. Toigo’s mentoring program has helped African Americans transcend race and class lines.
January 9, 2007
Why So Few Senior People of Color and Women on Wall Street?
Toigo and its Retention Returns survey results underscore the continued need-and work being done—to attract and retain minority talent in the industry.
2006 & 2005 / In the News
December 27, 2006
Retaining Minorities in Finance - Study Says Firms Must Do More
News of Toigo’s Retention Returns survey, completed in partnership with Heidricks & Struggles, along with recommendations for improving retention of people of color in finance are shared by Toigo President, Nancy Sims.
October 24, 2006
Toigo Foundation, Loan Company Partner to Help Fellows
Toigo’s strategic partnership with StuFund offers benefits to incoming Fellows. Toigo President, Nancy Sims addresses the challenges MBAs face in determining how to finance their education, and offers guidance through StuFund.
Black MBA Magazine
Top 50 Under 50
Three Toigo Alums—Les Hollis, Michael Tabb and Jay Ferguson—are honored in the prestigious Black MBA’s Top 50 Under 50.
Top 10 B-Schools for Hispanics
Top MBA programs and scholarship opportunities for Hispanics are highlighted in the annual report, along with Toigo’s work at University of California, Berkeley, New York University and Yale University.
June 26, 2006
Boosting B-School Minorities
BusinessWeek’s Janie Ho interviews Toigo President, Nancy Sims in BusinessWeek Business School’s Newsmaker Q&A. The conversation focuses on how minority applicants to business schools are on the decline and how Toigo is working to change this alarming trend.
Pensions & Investments
May 1, 2006
Toigo Online Database to Stock Minority MBA Grads
A follow up news brief highlights ToigoPro, the Foundation’s online database to connect MBA grads with leaders in finance.
Winds of Change Magazine
Working Together to Foster the Next Generation of Native American Business Leaders
Toigo President, Nancy Sims speaks to tribal communities about the lack of Native American-born finance experts who understand tribal culture—and Toigo’s efforts to help change this.
April 22, 2006
MBA Blog: A View from the Golden Dome
Toigo Fellow, Karen D., prepares for an internship in investment banking and highlights the support Toigo has provided to aid in her pursuit of a successful career in finance.
Pensions & Investments
April 19, 2006
ToigoPro gets attention in P&I’s news section. Minority MBAs and recruiting firms are invited to use the website for career placement efforts.
February 23, 2006
Enlarging the Talent Pool: Necessity Not Luxury
A look at the shrinking talent pool in the investment banking sector and organizations including Toigo that are creating opportunities for minority recruits.
December 20, 2005
Marcos Rodriquez and Maria del Pilar Avila discuss their work at Palladium Equity Partners and how Toigo and New America Alliance are working in concert to increase the presence of Latinos on Wall Street.