Asian Americans in finance say racism leads to bamboo ceiling

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(Bloomberg) – Asian Americans and Pacific Islanders in finance face structural racism that hinders career advancement, according to a recent survey.

According to a report by the Association of Asian American Investment Managers, nine in ten respondents said prejudice excludes them from consideration for managerial or managerial positions – a challenge some call reaching the bamboo ceiling.

Asians are often victims of the model minority myth, that they are diligent workers who have overcome discrimination to establish themselves firmly in the workplace, according to AAAIM. As a result, Asians are often excluded from leadership roles, the group said, adding that nearly 70% of respondents believe AAPI professionals are not seen as good leaders.

The report’s results are disheartening, said Gordon Liao, co-founder of 4C Capital LLC and vice chairman of the AAAIM board, said in a statement.

We hope this will provide CEOs, HR leaders and industry managers with a point of reference on what it will take to create a truly inclusive environment, so that we can continue to strive to break the bamboo ceiling, Liao said.

AAAIM interviewed 100 investment management professionals and interviewed more than a dozen executives for the report released on September 14.

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