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News Release

IDC Partners with the Robert Toigo Foundation and Diligent to Advance Diversity and Inclusion in the Boardroom

Washington, DC; October 18, 2021—The Independent Directors Council (IDC) announced two initiatives today to support a more diverse and inclusive fund director community. The first is a partnership with the Robert Toigo Foundation to develop programming to help diverse professionals learn about fund boards and the role of independent directors. The second is a partnership with Diligent Corporation to provide a technology platform to connect fund boards with diverse potential candidates. 

“Diversity and inclusion within the fund director community is a top priority for IDC,” said Thomas Kim, IDC managing director. “Our D&I Working Group has been focusing on concrete initiatives to develop educational resources, facilitate dialogue within the independent director community, and assist fund boards seeking to increase board diversity. We are pleased to partner with both the Toigo Foundation and Diligent to help advance our vision.”

Cynthia Plouché, vice chair of IDC’s Governing Council and independent director of the Northern Trust Funds, agreed. “Attracting candidates with different backgrounds and perspectives is vital. Both of these partnerships will help fund boards make meaningful progress toward bringing more women and persons of color into the boardroom, while enabling IDC to provide educational resources to diverse potential candidates about the role of fund independent directors.”

Toigo Foundation Partnership Will Introduce Diverse Professionals to the Fund Director Community

The Toigo Foundation has a broad network of diverse seasoned professionals with extensive finance expertise. Working together, IDC and the Toigo Foundation will introduce those professionals to educational programming and networking events focused on the work of fund boards and the roles and responsibilities of fund independent directors. Fund independent directors within the IDC community also will have opportunities to connect with professionals in Toigo’s network.

Diligent’s Director Network Will Help Connect Boards and Diverse Candidates

Through IDC’s partnership with Diligent, potential candidates will be able to add their profile to Diligent’s Director Network and express an interest in fund boards. At the same time, fund boards in the IDC community will have access to Director Network to search for diverse candidates. IDC and Diligent will launch this initiative in the coming months through a dedicated portal for fund boards and board-ready candidates.

About IDC, the Robert Toigo Foundation, and Diligent

IDC represents independent directors who serve on the boards of mutual funds, closed-end funds, exchange-traded funds, and other registered investment companies. IDC serves the fund independent director community by advancing the education, governance, communication, and public policy priorities of fund independent directors in the United States. IDC’s activities and advocacy promote excellence in fund governance for the benefit of shareholders.

The Robert Toigo Foundation is a not-for-profit organization that identifies and supports promising diverse talent at the MBA level and further expands its programming and support to more experienced leaders and their extended network as they advance in their careers within financial services. The foundation also advocates for diversity and inclusion within the industry across all investment sectors through education, awareness, and thought leadership.

Diligent is the leading governance, risk, and compliance (GRC) SaaS company, serving one million users from more than 25,000 customers around the world. Diligent’s innovative technology gives leaders a connected view of governance, risk, compliance, and ESG across their organizations, sparking the insights they need to make better decisions and lead with purpose.