Jun 01, 2022

Over the past 18 months, Cutter has launched an internal initiative to jumpstart DEI efforts within our firm. Our aim is to make our company a fully inclusive work environment where all employees feel welcomed. We also want to highlight and support DEI efforts of other organizations within our industry. To that end, we asked Dru Holmquist, Senior Consultant at Cutter, to tell us about an organization that is near and dear to his heart.

What is Out In Finance? What is your mission?

Out in Finance is an organization focused on LGBTQ+ professionals in the financial services industry. The LGBTQ+ community is a marginalized demographic in the white, cis-gendered male dominated financial services industry, so our mission is to unite individuals across the industry, to advance LGBTQ+ inclusion and equity, workplace policies, as well as collaborate with financial service firms on events, and provide a networking forum for LGBTQ+ financial services professionals.

Education is at the heart of Out in Finance. We have events that enlighten both the financial service employers and the LGBTQ+ community. Our vision is for the financial services industry to be a trusted industry of choice for LGBTQ+ professionals, where they feel safe to be authentic, and are equally included at all levels of an organization.

How did Out in Finance get started and why?

I started an LGBTQ+ Employee Resource Group (ERG) chapter at my previous firm in Chicago, and I wanted to learn from other ERG leaders in the area what worked well and what didn’t. In the process of reaching out to other leaders, I soon learned that many financial services firms were struggling with attracting LGBTQ+ professionals, and each firm was at a different place on the DEI journey. Some firms only had 1 or 2 individuals that were out at their firm, and the prospect of having an organization where individuals could meet other LGBTQ+ professionals in the same industry was very enticing. Soon we were meeting monthly and discussing how we could make a bigger impact in our industry, in our firms, and in the greater LGBTQ+ community, and Out in Finance was born.

How does Out in Finance support DEI in the financial services industry?

Out in Finance works to connect our corporate partners with LGBTQ+ resources including the Corporate Equality Index (CEI) with the Human Rights Campaign (HRC), or local LGBTQ+ non-profits for volunteer opportunities. Many financial services firms have not traditionally participated in the CEI, and when we talk with corporate partners about where they can start, we often point them in this direction.

CEI Rating

Human Rights Campaign Foundation’s Corporate Equality Index (CEI) is the national benchmarking tool on corporate policies, practices and benefits pertinent to lesbian, gay, bisexual, transgender and queer employees.

We are run solely by volunteers and have multiple events throughout the year where we provide LGBTQ+ education, networking, collaboration, best practices sharing, and career opportunities. We provide opportunities for individuals to sharpen skills in a safe environment, and we welcome new members who are keen to get involved.

How can people and firms get involved with Out in Finance?

Anyone who is interested can sign-up to be a member and be added to the mailing list by registering at OutInFinance.org. There are multiple opportunities to become involved with our organization by attending virtual and in-person events, and volunteering on committees or in leadership roles. We also offer partnership and event sponsorship opportunities for corporations.

Do you need to identify as LGBTQ+ to be part of Out in Finance?

No. In fact, we embrace having allies as part of our membership, volunteers, and leadership. As long as you support our mission, you are welcome to be a part of Out in Finance.

To learn more about Out in Finance, go to OutInFinance.org. To connect with Dru, or any of our Cutter team members, reach out at [email protected].