2022 Toigo Foundation Annual Report
TOIGO: Looking Back at 2022
As the Foundation continued to work within the environment impacted by COVID-19, race relations and workforce dynamics, Toigo forged ahead with a renewed purpose to demonstrate how the non-profit can and should play an important, trusted partnership with industry to promote a spirit of hope and sense of commitment to our shared goals of diversity and inclusion – of fairness and equity and opportunity within the finance industry.
The Foundation’s approach is captured in our theme “The Difference is Clear” including a deep dive into the success and progress of the Foundation’s work, the exceptional talent of those served by the organization and the robust promotion of opportunity that remain for prospective MBAs beginning their academic journey. Further, our thought leadership on corporate culture, diverse leadership, new initiatives and industry convenings brought together – both virtually and in-person professionals to continue important conversations and rebuild critical relationships toward the year ahead.
Equity Matters
"The national dialogue and actions around race and equity; workplace opportunity and fairness fueled the attention that started in 2020 to continue at an accelerated momentum in 2021 with respect to firms seeking to improve inclusion within their organizations by tapping into more diverse applicant talent pools An exponential increase in recruiting strategies focused on underrepresented talent at the MBA level to more elevated services, support and counsel to advance industry’s attention on workplace D&I, led to considerable engagement with practitioners and organizations and an increased demand for the Foundation’s professional services. Support to bridge the connections between firm employment opportunities and entry level talent seeking summer internships and/or fulltime roles upon graduation was unprecedented. Organizations late in the recruiting process learned quickly that talent had already been swept up by more proactive recruiting strategies by employers. The Foundation provided counsel and alternative approaches throughout the year on ways to cultivate prospective employees; provide industry education and to maintain relationships through the dynamics of recruiting season to achieve desired results.
Even more robust was the keen target on experienced talent. The Foundation benefited from its long-standing practice of direct, high touch engagement with firms and prospective candidates, ensuring that mid to senior level participants in the program would be served actively and professionally.
Companies that experienced the effects of the “great resignation”, demand for more remote work settings or, more positively, the potential for headcount expansion intentionally implemented steps to partner with organizations to reach the highly selective talent pool of professionals with 10+ years experience as a way to demonstrate their commitment to D&I across the ranks of their organizations. The Foundation actively supported this process presenting candidates and facilitating closure on job search placement within key roles within the finance industry.
Understanding the critical work to assist industry in advancing their education and awareness around the merit of building more inclusive work environments, the Foundation’s Inclusion Strategy Services launched in 2020 remained active throughout 2022. From project-based services to speaking engagements to Thought Leadership, the Foundation presented a full-scale platform for fostering ongoing dialogue, improvements to policies and practices, amplifying the voice of diverse professionals through surveys and reports and feature articles driving topics across employment, entrepreneurship, governance and leadership.
Student Life
For the graduating Class of 2022—who entered business school in 2020 when COVID and lockdown worldwide was in full force—faced unprecedented circumstances. In addition to the health impact, which disproportionately impacted populations of color, these students’ post-graduate educational experience was defined by virtual vs in-person; the deep in-person connections that are a fundamental part of the business school experience were suddenly gone. Navigating this new terrain and realigning expectations and experiences became part of their world and Toigo’s.
Shifts in the world—the pandemic, and more—naturally impacted the way we approach each of our decisions about careers, family and our lives. The new journey opened doors to new thinking around career paths, with great expectations for remote work environments, balancing personal priorities and seeking values-first alignment. A new generation of leaders are embarking on their professional journeys, presenting Toigo further opportunity to demonstrate its keen ability to innovate.
Toigo continued to advance its delivery of remote learning through a variety of online coursework, webinars, and networking sessions. The growing interests and needs of MBAs particularly given the conversion of in-person sessions to virtual platforms allowed the Foundation to reach an increasing number of students by way of our industry education online sessions, technical skill training and workshops. Online platforms were customized and administered providing a setting for seamless programming and an effective way to engage corporate donors in leading sessions, meeting students toward recruitment goals and providing career management support. Application for the MBA Fellowship remained robust for 2022. The Foundation welcomed nearly 300 next generation leaders to present their qualifications for selection as a Toigo Fellow. The foundation's financial investment in online application tools, webinars and recorded interviews and leadership assessment allowed for the closest experience to the in-person interview process and the selection of 100 students for the program.
By mid-year 2022, the Foundation was able to resume select in-person events for students bringing back the spirit of connection and high value derived from peer to peer learning and exchange through our Fall leadership event hosting nearly 200 students. Participants experienced a full 2-day program anchored by the richness of learning content, quality of speakers and investment experts and technical skills offerings.
2022 – A Year of Strengthening Community
While Toigo promotes a vibrant and inclusive sense of family among those who have participated in our work, we place tremendous value on the contributions made by standout talent that not only reflect the excellence of Toigo, but also amplify their leadership within business and community.
Toigo's duty of care becomes most visible in the scale and timing of interventions that both Fellows and Alumni alike benefit from over the arc of their career. In 2022 this population was seeking critical touch points and opportunities for engagement. Toigo has been instrumental in making high-level introductions; not only at the graduate level, but when alumni are seeking funding for their new venture, or when they are looking to rebound from a major adverse life events. Wherever possible, Toigo is there to help advance or promote their individual and collective goals.
“We develop deep connections with our Fellows to understand the journeys they’ve traveled so that we may become an important lifelong partner on their continued path to success.”
-Nancy Sims, President & CEO, the Toigo Foundation
Alumni | Rise to Senior Leadership – 2022
Toigo has impacted the lives of more than 1,800+ Fellows identified for the MBA program and continues to support the Alumni. A core measure of success for the organization is the ascension of our Fellows throughout their careers as Alumni and the tremendous sense of giveback they feel to support future generations of finance leaders.
More than 75% of Toigo Alumni have risen to levels of leadership and impact within financial roles
300+ board seats on non-profits, portfolio companies, & more
Toigo's Vision in Action
A Toigo statement from 1990; hover to see how we have stayed true to our mission
16 investment officers for pensions funds, E&F, and investment consultants
(1990): We envision the day when many of the talented individuals we have served will be seated at the boardroom table, acting as significant financial decision makers – positively impacting their own communities, or leading as CEOs of their own exciting enterprises and furthering the hiring and development of future generations.
100+
6 leading large asset management firms founded by Toigo Alums
Mentoring, investing, philanthropy and a network of 1500+ Alums
In addition to their strong financial and business acumen, Toigo Leaders are taking responsibility for important messaging around greater inclusion and equity for underserved communities and the industry overall; carrying forward the mission of the Toigo organization, and their demonstration of leadership impact and advocacy for change.
Financials
The Foundation has demonstrated sound financial practices that not only responsibly meet all compliance requirements of the 501c3, but also present a discipline of ensuring the dollars raised are directed toward the highest and best use for programs and services to those served by the organization.
Internal controls and policies to ensure protections have set a standard of financial operations recognized by the industry. Accountability and transparency ensure the Board of Directors and our donors that the organization has fulfilled its mission through the most responsible methods possible.
Accountability | Toigo has demonstrated a long-term commitment to ensure
that the greatest investment of dollars raised directly benefits the participants.
Mission-Focused | The Foundation operates conservatively with respect to
operational costs.
Disciplined Approach | The Toigo staff executes its fundraising strategy with a
commitment to diversifying its revenue sources and leveraging the team’s talents to achieve stand-out results without incurring excessive expenses.
Board of Directors
Governing Board
Mark Anson
Jase Auby
Mary Cahill
Scott Chan
John Claisse
Michael Delaney
Ted Eliopoulos
Jay Ferguson
Jose Fernandez
Jose Feliciano
Fran Higgins
Kathryn Koch
Bryan Lewis
Edward Lewis
Mark McCombe
Barry Miller
Jose Minaya
Janice Cook Robert
Marcos Rodriguez
Dhvani Shah
Steve Voss
James (Jim) Williams
Kelly Williams
James (Jim) Zelter
Chief Investment Officer
Chief Investment Officer
CEO & Chief Investment Officer
Deputy Chief Investment Officer
CEO
Managing Partner & Investment Committee Member
Vice Chairman & Head of Strategic Partnerships
Managing Partner
Managing Director
Co-Founder & Managing Partner
General Partner
Chief Investment Officer of Public Equity
Vice President & Chief Investment Officer
Managing Director of Real Returns Investments
Senior Managing Director Chief Client Officer
CEO
Chief Executive Officer
Managing Director
Chairman/CEO & Founder
Chief Investment Officer & GVP
Senior Partner
Vice President & Chief Investment Officer
CEO
Co-President & CIO, Credit
Commonfund
Teacher Retirement System of Texas
Acansa Investment Management Group
CalSTRS
Albourne Group
Court Square Capital Partners
Morgan Stanley
Vicente Capital Partners
StepStone Group
Clearlake Capital Group, L.P.
Welsh, Carson, Anderson and Stowe
Goldman Sachs
United States Steel Corporation
UTIMCO
BlackRock
Ares Private Market
Nuveen
Kohlberg Kravis Roberts & Co.
Palladium Equity Partners
JM Family Enterprises
Aon
The J. Paul Getty Trust
The Williams Legacy Foundation
Apollo Global Management
Advisory Board
Christopher Ailman
Jose Alejandro
Taffi Ayodele
Colleen Casey
Judy Chambers
Michelle Davidson
Alex Doñé
David Fann
Chun Lai
Angela Miller-May
Carlos Schonfeld
John Vibert
Ray Whiteman
Chief Investment Officer
Treasurer
Director of DE&I & Emerging Strategy
Managing Director
Managing Principal
Partner, Co-Head Advisory Americas
Managing Director
Senior Managing Partner, Vice Chairman
Chief Investment Officer
Chief Investment Officer
Sr. Vice President
Managing Director & President
Managing Partner
CalSTRS
NYC Patrolmen’s Benevolent Association
Office of New York City Comptroller
Angelo Gordon
Meketa Investment Group
Aksia
Platinum Equity
Apogem Capital
The Rockefeller Foundation
Illinois Municipal Retirement Fund
Capital International Research, Inc.
PGIM Fixed Income
Stellex Capital Management
Founder
Sue Toigo
Fitzgibbon Toigo Associates
President & CEO
Nancy Sims
Robert Toigo Foundation