Cambridge Associates is adding Jasmine Richards as senior investment director and manager of diversity.

The role, based in Boston, will involve leading the firm’s search to identify institutional-quality investment managers, in all public and private asset classes, helmed by diverse leaders, in particular women and people of colour, according to a press release.

“We believe that strong investment performance depends in part on the diversity of ideas, backgrounds and geography among the managers with whom we invest on behalf of our clients,” said Noel O’Neill, head of global investment research at Cambridge Associates, in the release. “Accordingly, we are committed to increasing the number and range of minority- and women-owned investment managers in our universe. 

Read: Public pensions stressing corporate governance, board diversity as key issues for 2018

“We are delighted that Jasmine Richards, who is seasoned in this arena of research, due diligence and networking, has joined Cambridge to direct our efforts to turn up the volume on this work.”

Before joining Cambridge Associates, Richards was international equity manager and research analyst, with an emphasis on diverse-owned groups, at FIS Group. She has held roles in manager research, sales and client management at multiple investment firms, including Oppenheimer Asset Management Inc. and State Street Global Advisors.

“There is significant talent among institutional investment managers with diverse and minority ownership, and it is exciting to have joined a global investment firm that is dedicating the resources needed to ensure no stone is left unturned,” said Richards, in the release. “Heightening the firm’s focus on this initiative will not only create more opportunities for the firm’s institutional and private clients, whose goals may be both financial and social-impact oriented, but it will also help advance and create opportunity for emerging investment leaders of diverse backgrounds.”

Read: Gender diversity needed in the investment industry: report

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