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AFL-CIO HIT Receives NYC Comptroller's Diverse Practitioner Award


New York City Comptroller Scott Stringer awarded the AFL-CIO Housing Investment Trust (HIT) with its 2018 Diverse Practitioner Award on Friday October 5th, citing the fixed-income investment company’s diversity amongst its leadership, staff, and business practice.

Comptroller Stringer, who established the award in 2016, presented the honor, noting the importance that those who manage the pension dollars of New Yorkers reflect the city’s extraordinary diversity.

“Diversity is a core principle of our office and we strive to partner with investment managers that not only share in this objective but that actually exemplify it in the composition of their staff and their policies,” Comptroller Stringer said, adding that the HIT has been a manager in the New York City Retirement Systems’ Economically Targeted Investment program since 2002. “The HIT was selected because it demonstrates the strength of diversity in its investment professionals and overall organization, as well as in its policies and practices to promote diversity.”

HIT CEO and Co-Chief Portfolio Manager Chang Suh, Executive Vice President/Managing Director of Marketing Lesyllee White, and Vice President/Director of the New York Regional Office Carol Nixon accepted the award at the ceremony.

Mr. Suh noted that diversity is a major part of the HIT’s culture, with women making up 59 percent of the staff and 41 percent of the staff identifying as minorities. “Diversity is our strength!” said Mr. Suh. “Not only is our workforce very diverse, but our mission is directly centered around investing our capital so that we create employment and housing opportunities in diverse communities. We have financed over 34,000 affordable housing units in New York City, ensuring that working families, like the beneficiaries of the New York City Retirement Systems, can live in the city they serve.”

Ms. White added that “HIT’s diversity is truly representative of the workforce of our investors and embraces the values of the American labor movement.”

According to a statement from the Comptroller’s office, “Diversity is correlated with improved decision-making, better risk management and stronger economic performance, and, thus, contributes to long-term value for our beneficiaries.” The HIT is proud to partner with New York City Retirement Systems and strives to deliver these results.