Financial services is a highly sought-after field offering professionals fulfilling and competitive career paths. Executive search firms and talented recruiters are eagerly seeking candidates to fill these roles. Regardless of the position, companies need creative, daring people to pioneer a bright, successful future for financial services.
Owing to globalization and the inherently interconnected nature of today's world, candidates who possess multicultural backgrounds and atypical career trajectories are highly sought after. Their presence in companies of all sizes ensures that business is becoming more inclusive and diverse, driving innovation and equitable outcomes worldwide. For the last 30 years, Angel Stewart has leveraged her knowledge of recruiting, and more significantly her relationships with outstanding talent within the investment and finance industry who happen to be from diverse backgrounds.
The staffing and recruitment market was worth almost $700 billion in 2022. By 2030, the industry will grow by a CAGR of 12.7%, reaching unprecedented levels. People are the most important asset to a business, which is why recruiting has exploded alongside company growth. However, recent turmoil in the hiring landscape–both in the US and abroad–has made finding the right candidates even more difficult. In the aftermath of COVID, the Great Resignation and Reshuffle, attracting competitive candidates and retaining them is a challenge.
It takes even more effort and expertise to connect with highly qualified talent that is underrepresented in financial services. Investments in diversity, equity, and inclusion don't always lead to more multicultural candidate pools either. Angel Stewart, a finance and recruitment expert has been recruiting and coaching diverse candidates for over three decades. She argues that this demographic isn't in short supply. Recruiters and executive search firms simply don't know how to connect with them.
"Since I began my work in recruiting in the finance and investment industry, I noticed that companies and even certain recruiters struggled to attract candidates with diverse backgrounds," Angel says. "There are many reasons for that depending on the situation, but as a Black woman who has been the Vice President and Director of recruiting initiatives with and without the diversity label, I believe finding diverse talent really boils down to your networks and the way you can relate with an individual. With many years of building these relationships, these professionals are more likely to take my call about a potential new opportunity."
Born in Los Angeles and raised in a predominately white Sacramento neighborhood, Angel thrived in what many would consider a confusing racial environment. At home, she was one of the few Black children in her neighborhood. Most of her friends were white and Asian, but due to redistricting, she attended a high school in a predominantly Black neighborhood. Despite the intersection of race and identity, Angel could be herself in both realms and she really thrived. In a way, this balancing of both worlds is relevant in her work in financial services recruiting.
During her time at Fortune 100 financial institutions and the Robert Toigo Foundation, Angel remained focused on discovering and placing people who were the best fit for a company, and who happened to be from a diverse background. It wasn't just about race and she thinks other executive search firms and recruiters should consider this mindset.
"The entire notion of DEI in hiring is meant to normalize a group's representation in all industries and functions," Angel notes. "You should want them to be at your company not because it makes you look good, but because diverse perspectives and skill sets have been shown to heighten organizational success."
Angel takes this novel recruiting methodology to McCain Stewart, the executive search company she co-founded with a long-time friend. Although Angel says she never planned to become an entrepreneur, the company enables her to spread her impact globally, connecting with and guiding professionals to enter life-changing positions, ultimately benefiting firms of all sizes. McCain Stewart focuses primarily on financial services organizations and other industries and they work with professionals at all levels.
Looking back on her career in recruiting and finance, Angel hopes that others in the space acknowledge that diverse talent is abundant. They just need to find strategies for building trust with these professionals.
