Discover How Companies are Sowing the Seeds of Wealth and Prosperity: An Event Exploring the Financing of Low- and Moderate-Income Workers’ Investment and Benefits
On Tuesday, May 23, 2023, the Federal Reserve Bank of New York (FRBNY) joined forces with the Ford Foundation to host an in-person event dedicated to examining efforts to broaden the wealth of low- and moderate-income (LMI) workers through investments and employee advantages. This highly informative event was open to the public and focussed on the funding of such initiatives and how to make these investments available on a wider scale.
In today’s article, we’ll take a look at what was discussed and who was in attendance at the event, featuring key players in the fields of finance and philanthropy.
## Welcome Remarks
The event was inaugurated by Vincent Alvarez, who is the President of the New York City Central Labor Council, AFL-CIO and also Chairs the Board of Directors at the Federal Reserve Bank of New York.
## Research Presentation
Joseph R. Blasi, the esteemed J. Robert Beyster Distinguished Professor at Rutgers University and Director of the Institute for the Study of Employee Ownership and Profit Sharing, delivered a research presentation on the funding and implementation of raising wealth among lower to middle-income earners.
## Panel Discussion: Investment Strategies
The panel discussion chaired by Jessica Rose, the Chief Financial Officer of the Global Impact Investing Network, explored investment strategies to enhance workers’ wealth. Joining this dialogue were the following panelists:
– Graham Thomas, Principal at KKR Capstone;
– Philip Reeves, Founding Partner at Apis & Heritage Capital Partners;
– John Holdsclaw IV, President and CEO at Rochdale Capital.
## Panel Discussion: Moving the Needle for Capital
The next panel, moderated by Margot Brandenburg, Senior Program Officer at the Mission Investments of the Ford Foundation, delved into how to move the needle for greater capital for low- to middle-income earners. Featured on the panel were the following:
– Michaela Edwards, Partner at Capricorn Investment Group;
– Don Baylor Jr., Managing Director, Co-Head Community Impact at Lafayette Square;
– Gianna McCarthy, Director of Corporate Governance at New York State Common Retirement Fund.
## Closing Remarks
Jake Scott, Community Development Analyst at the Federal Reserve Bank of New York, concluded the proceedings.
## Unlocking Investment and Benefits for Low- and Moderate-Income Workers: Exploring the Financing of Wealth for All
The FRBNY and the Ford Foundation’s event opened our eyes to how companies can strategize investment and employee benefits to amplify the wealth and prosperity of low- to moderate-income earners. This event certainly sparked meaningful conversations regarding access to capital, investments opportunities, and employee benefits for more individuals to meaningfully enhance their circumstances.