To our Associates, Clients and the Community:
We recognize the roots of racism run deep through America’s history. We are outraged that systemic biases remain entrenched, continuing a cycle of inequity and violence while sapping opportunity from people based purely on skin color. We recognize that Black people continue to be deprived of due process under the law. We resolve to do our part to foster diversity and inclusion at Diamond Hill, in our industry and within our community.
In June, along with 750 other Columbus, Ohio-based business leaders, we signed a letter supporting a Columbus City Council resolution declaring racism a public health issue. This was an important first step, but it’s just a start. We are taking a hard look internally at what we must do to combat unconscious bias and create more opportunities for diversity. We are committed to a future where our company is reflective of the communities we serve.
As a next step, Diamond Hill is implementing the following tangible measures:
- We are establishing a program aimed at providing internship and permanent employment opportunities to historically underrepresented groups. It will include a student loan forgiveness program. This intends to address the inequalities of the student loan debt gap.
- We will refocus our recruitment practices to ensure we proactively seek diverse candidates for all roles. If we are unable to source diverse talent for consideration for new roles, we will engage third-party resources to increase our pool of qualified diverse candidates.
- We are conducting a broad review of our existing vendor relationships to ensure we are doing business with partners who embrace our commitment to diversity and inclusion. For example, we will seek to ensure that at least one minority or female-owned firm is included in new vendor searches.
At the community level, we are pledging $1 million over the next five years to organizations that support anti-racism efforts, diversity and inclusion, starting with a $50,000 donation made to the Columbus Urban League.
Our vision—to be an exceptional active investment boutique that our clients trust to deliver excellent long-term investment outcomes—is better served by the differentiated thinking inherent in a diverse team. It is important that our actions are sustained, and we commit to continue to improve. We should all be held to a higher standard and pledge our commitment to do so.
Signed 18 Jun 2020:
Diamond Hill Management Team