Colorado Real Estate Journal - March 18, 2015
The Metro Denver Economic Development Corp. announced the launch of the Colorado Investment Services Coalition, a new consortium of industry leaders working together to advocate for and promote the state’s robust investment services and management industry. “Colorado is one of the few areas outside of the Northeast with a substantial investment services industry, and we are thrilled that business leaders are coming together to help the industry expand even further,” said Gov. John Hickenlooper. “These partnerships continue to aid in strengthening our growing and diverse economy.” CISC founding members represent Colorado’s largest investment services firms, including Charles Schwab & Co. Inc., Fidelity Investments, Janus, OppenheimerFunds, TIAA-CREF and T. Rowe Price. According to a new industry study recently released, the investment services industry provides diverse and highpaying career paths for the state’s citizens. According to data from the Metro Denver EDC, the subcluster employs 29,040 people statewide. Overall, the industry contributed $6.7 billion in economic impact to the state in 2014, based on direct and indirect employment. CISC members will hire an estimated 1,500 employees in 2015. The newly formed group will tackle three focus areas vital to the industry: creating an overall awareness of the importance of the investment services industry to Colorado’s economy; talent/workforce development and attraction by cultivating mutually beneficial partnerships with colleges and universities; and federal and state legislative advocacy that ensures an environment for industry expansion in Colorado. Coalition members tapped Bill Kavanagh, a chief operating officer of Fidelity Investments, and Brian McDonald, senior vice president/client service and support for Charles Schwab & Co. Inc., as its leadership co-chairs. The CISC has engaged with several local universities to explore ways in which to supplement curriculum and enhance awareness of career opportunities in the investment services and management field. The group is developing a course on the investment industry in conjunction with the University of Colorado Denver that will be offered in summer. It will provide an overview of the diverse career opportunities that exist in the industry as well as including content on the hard and soft skills that graduates will need to succeed. In addition, students will have the opportunity to interact with senior leaders in the investment services industry. CISC is the fourth industry affiliate formed by the Metro Denver EDC to focus on fastgrowing industry clusters projected to offer high-paying, high-skill jobs in the region and state. The organization’s additional industry affiliates include: the Colorado Energy Coalition, the Colorado Space Coalition and the Metro Denver Aviation Coalition.