Global investment management company T. Rowe Price has appointed Raymone Jackson as head of diversity and inclusion.

Why should we care?
Raymone Jackson, who will take up his position later this month, previously held senior roles at Morgan Stanley and Northwestern Mutual. Jackson will be responsible for the firm’s global diversity and inclusion strategy, overseeing current diversity and inclusion programs, and looking after strategies to help the firm improve the attraction, development, and retention of diverse associates. Senior leadership of financial firms -- both within incumbents and fintech startups -- have recently made moves to address diversity concerns. Recent research on financial advisors, for example, found that only 3.5% are African-American or Latino. T. Rowe Price this summer turned its efforts toward addressing racial equality; in June, it donated $2 million to organizations fighting racial injustice. The firm says Jackson has a track record of delivering results. At Morgan Stanley, he developed and implemented a comprehensive diversity and inclusion strategy that spanned 600 offices and 20,000 employees, and delivered year-over-year increases in diverse representation, the firm said.