An U.S. investment manager’s decision to open a Canadian office could pave the way for multinational employers to consider the safety of transgender employees in the U.S., says one expert.
In a note to investors last month, Aristides Capital LLC founder and managing member Claire Brown, who is currently based in Ohio, confirmed she won’t join her firm’s headquarters in the state of Kentucky and is instead considering opening a Toronto office.
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“I certainly think this could serve as inspiration to others, whether in Canada or in the [U.S.], who want to be a part of the solution in creating greater safety and fairness and inclusion for [transgender] people,” says Michelle Grocholsky, founder and chief executive officer at Empowered EDI.
She adds even Canadian-based companies with offices in the U.S. can take the opportunity to think through global mobility offerings that make it easier for talent to move across country lines. Any project that considers the safety of transgender employees, she notes, must prioritize their safety and offer a process for individuals that aren’t ready to disclose their identity.
In her note to investors, Brown, who leads a team that oversees two pooled, hedged investment funds, wrote the outlook for the laws and protections for transgender people in the U.S. have become cloudy under U.S. President Donald Trump’s second administration.
Trump has targeted transgender people through several executive orders, which include the erasure of public information from government sites and requesting agencies to back off from supporting gender ideology. In recent months, U.S. companies across several industries have rolled back diversity, equity and inclusion policies.
Grocholsky wasn’t surprised to learn of Brown’s decision, calling out the threats she will face as a transgender woman in a “highly visible” position among the institutional investment community. However, she warns that despite increased immediate safety in Canada for LGBTQ2S+ employees, there’s still a long way to go to ensure safe workplaces for everyone.
“We in Canada are not immune from discrimination and prejudice against the LGBTQ2S+ community. . . . Workers in Canada are not necessarily feeling as safe as they did back in 2020 when their employers were putting a lot of time, money, energy and resources to create more inclusive and fair environments.”
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