Pride Sans Prejudice: A conversation with M&T Bank Vice Chairman Kevin Pearson
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Pride Sans Prejudice: A conversation with
M&T Bank Vice Chairman Kevin Pearson
The moral imperatives
of diversity, equity,
and inclusion
As June is Pride month—which
commemorates the long struggle for
civil rights and equal justice for
LGBTQ individuals—it’s an ideal time
to look at this community in M&T and
Wilmington Trust, as well as the clients
and the neighborhoods we support.
To take us through the way M&T Bank
is focused on diversity, equity, and
inclusion, we recently spoke with Vice
Chairman Kevin Pearson.
The term “modern family” speaks to the ways in which the
Q nuclear family has evolved. Society has come a long way from
the unit that included a man, a woman, and their biological
children. In fact, luxury jeweler Tiffany & Co. recently launched
a line of diamond engagement rings for men that “honors the
jeweler’s long-standing legacy in love and inclusivity, paving
the way for new traditions.” How are these changes being
reflected here at M&T?
Kevin Pearson
Vice Chairman A: Our Chief Executive Officer René Jones once said, “The degree to which M&T doesn’t
M&T Bank reflect society at large is the degree to which we risk becoming irrelevant.” It’s important
we represent the realities of the world today and the importance of diversity, equity,
and inclusion. One outgrowth of these values is the creation of our Talent Acquisition
Ambassadors program. It’s a concerted effort to find the talent we may not reach through
traditional recruitment channels. We have 40 ambassadors on the front lines at university
panels, job fairs, community workshops, and conferences that focus on recruiting individuals
from diverse backgrounds.
And it goes beyond recruitment to influence the way we can shape growth in the
communities where we live and work. We’re striving to make M&T a trusted partner and
supporter of LGBTQ- and other minority-owned businesses in these neighborhoods. But
Continued
1 ©2021 M&T Bank Corporation and its subsidiaries. All rights reserved.
diversity, equity, and inclusion begin at home. We are constantly looking inward to eradicate
any potential barriers to employee satisfaction and goal attainment for those in our M&T
family. Our LGBTQ and other resource groups are the lifeblood of that support, showing we
don’t just talk the talk, we walk the walk.
Can you tell us more about that support and the LGBTQ “Pride”
Q Resource Group?
A. There are many reasons I’m proud to work at the bank and the level of acceptance and
support has got to be right up there. In the last five years alone, Pride has grown to six
Our firm earned a score of chapters, from Western New York, down to Washington, DC, and now boasts nearly 1,000
100% on the Human Rights
members. I’m proudly one of them. In 2019, I joined our Pride groups that marched in the
Campaign Corporate Equality
Index in 2019, 2020, and 2021. historic World Pride Parade, which marked the 50th anniversary of the Stonewall Uprising—
commemorating the beginning of liberation for the LGBTQ community. M&T was also a sponsor
of the parade. The groups extend that support in the communities’ chambers of commerce,
OutFest, and many other events, as well as support for LGBTQ- and ally-owned businesses.
Our firm earned a score of 100% in 2019, 2020, and 20211 on the Human Rights Campaign
Corporate Equality Index, the national benchmarking tool on corporate policies, practices,
and benefits related to LGBTQ employees. That is an incredible achievement and we should
all be very proud. The level of support that diverse groups in our M&T family can count
on is just one reason we have been able to stave off the attrition of talent that other, less
welcoming companies may experience.
In 2015, the Supreme Court of the United States ruled the
Q fundamental right to marry is guaranteed to same-sex couples,
in Obergefell v Hodges. Today, the court is markedly more
conservative and it’s possible the ruling may one day be
challenged. Either way, what does that mean for our LGBTQ
clients?
A. This is an extremely important topic. We are a goals-based firm that leads with planning.
If you don’t have a plan, you’re operating in a vacuum and you can’t be sure all your financial
goals are aligned. People sometimes think planning begins and ends with investing but
there’s a host of important issues, like insurance protections, cash flow concerns, and estate
planning. I don’t know if it’s because this segment hasn’t lived openly or been married
for as long as some straight counterparts, but whatever the reason, I don’t think it’s an
exaggeration to say that planning must be paramount for all groups. And this is especially
the case with LGBTQ individuals and families, where there are variations and uncertainties
1
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One aspect of planning that can be especially important in the case of those with potentially
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complex family dynamics is having a corporate executor to settle estates as opposed to a
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friend or relative. An objective third-party professional who knows federal and state laws is
amazonaws.com/CEI-2020.pdf?m-
time=20200806234745&focal=none better equipped to preserve assets and manage the needs of beneficiaries. A key element
to establishing a plan is having an experienced financial advisor you can trust. Just 22% of
2
https://www.cnbc.com/2020/01/10/
online-efforts-encourage-lgbt-ameri- LGBTQ individuals have used the services of a financial planner,2 and that’s clearly something
cans-to-mind-financial-wellness.html that needs to change.
Continued
2 ©2021 M&T Bank Corporation and its subsidiaries. All rights reserved.You mention living openly. Can you talk a little bit about
Q opening up about one’s sexual orientation at work? What was
it like for you and what advice would you give others who
haven’t yet taken that leap?
Rather than say an individual
should follow my lead, he, she, A. When my husband and I decided to have children, I felt it was important to share my
or they need to follow his, her, personal life with colleagues and executives at the bank. I was a bit apprehensive, but it
or their own timeline. proved to be completely unnecessary. They were warm, supportive, and appreciated my
honesty. I knew I had made the right decision.
Only around half of LGBTQ Americans are completely “out” at work; however, employees
whose leaders publicly support LGBTQ issues are 50% more likely to be out. 3 Furthermore,
research shows that coming out increases job satisfaction, intention to stay, and emotional
support from co-workers. All of that aside, it’s a very personal issue. Rather than say an
individual should follow my lead, he, she, or they need to follow his, her, or their own
timeline. What I can say with confidence, however, is that M&T is a place where each and
every employee can feel a sense of belonging and can bring their authentic selves to work.
For those who share their orientation or gender identity openly, I am sure that you will feel
comfortable, safe, and at home here, just like I do.
3
https://hbr.org/2018/10/7-myths-about-
coming-out-at-work
Continued
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