Category: Diversity Equity & Inclusion

Inclusive Behaviours and Better Business Outcomes: Why Financial Firms Should Endorse the CFA Institute Inclusion Code

By Dr. Stella Mourouzidou Damtsa, CFA
Board Member and Inclusion (DEI) Committee Chair

The strongest organisations are built on technical expertise, sound processes, ambitious goals, and a culture that allows people to contribute fully. A healthy organisational culture strengthens the quality of dialogue in meetings, encourages openness to different perspectives, supports constructive challenge, and enables people to do their best work. Inclusive behaviour plays an important role in shaping that kind of environment. In professions such as finance, which are built on trust and long-term responsibility, inclusive behaviour is closely connected to organisational quality and business performance.

CFA Institute has given that connection a practical and professional framework. In its European Inclusion Code material, CFA Institute describes diversity, equity and inclusion work as mission-aligned with its broader purpose of promoting the highest standards of ethics, education, and professional excellence for the ultimate benefit of society. Such language is important because it places inclusion within the professional standards of the investment industry rather than outside them. The CFA Institute approach presents inclusion as part of how firms lead well, build credibility, and serve clients and society responsibly.

The value of the CFA Institute framework also lies in its practicality. At the heart of the European Inclusion Code are three clear objectives: to meet the industry where it is, to define practical principles that firms can implement from a realistic foundation, and to provide a metrics-based reporting framework designed to produce meaningful, aggregated and benchmarked data. The Code also focuses on concrete areas that shape institutional life, including pipeline, talent acquisition, promotion and retention, leadership, influence, and measurement. In the European context, the framework is being developed with local CFA societies so that shared principles are supported by implementation guidance and country-specific context.

Investment management, banking, and financial services depend heavily on the quality and agility of their teams. Good decisions are strengthened when professionals feel able to raise concerns, offer alternative views, and challenge consensus before action is taken. A culture that invites contribution from people with different experiences and perspectives is more likely to support rigorous discussion, sharper judgement, and stronger collective intelligence. Inclusive behaviour therefore supports not only fairness and belonging, but also the quality of analysis and decision-making in an environment shaped by constant change and disruption.

Beyond the principles themselves, the Inclusion Code speaks about promoting adoption across the investment industry, sharing tested practices, collaborating with peers, and making the economic, business, and moral case for Inclusion. The material also states that integrating Inclusion can improve investment outcomes and enhance business success. Inclusion builds better functioning teams, stronger institutions, and more resilient business outcomes.

The senior leadership of an organisation is central to that effort. Inclusive cultures are built not only through formal policies, but through the tone from the top, repeated decisions and visible behaviours: who is invited into important conversations, whose potential is recognised, who receives stretch opportunities, how disagreement is handled, and whether leaders create space for honest challenge. Measurement is equally important. The CFA Institute framework places measurement alongside leadership and influence, signalling that progress should be observable, intentional, and supported by accountability. The combination of behaviour and measurement gives firms a realistic path from principle to practice.

Industry momentum suggests that many organisations already recognise the importance of that path. CFA Institute’s material notes that investment leaders are taking ownership of Inclusion, supported by internal experts and advocates, while recognised standards, industry data, accountability, and client expectations are helping sustain progress. The European adaptation of the Code, developed with local CFA members and societies, reflects the same ambition: a shared framework with room for local legal, regulatory, and cultural context. That combination of common principles and practical adaptation gives the work both credibility and relevance.

Wider business research points in a similar direction. A recent Grant Thornton report, although focused specifically on gender, found links between diversity initiatives and stronger innovation, better decision-making, improved financial performance, and stronger talent attraction. The broader lesson extends beyond any single category of diversity: organisations that make inclusion visible, credible, and measurable are often better placed to attract talent, strengthen culture, and support performance.

CFA Society Cyprus is already supporting this agenda through the work of its Inclusion Committee. The Committee’s objectives include raising awareness, promoting inclusion, and influencing policy, while its recent initiatives have included signing a Memorandum of Understanding with Diversity Charter Cyprus, engaging with Regulators on KPI development and data gathering, contributing comments on equal pay regulation, publishing inclusion-focused articles, recording public-awareness podcasts, and promoting the CFA Inclusion Code through strategic collaborations and events. This gives the conversation a practical local dimension and shows that inclusion is being advanced both in principle and through concrete action.

This commitment will be reinforced through CFA Society Cyprus’s upcoming webinar with Sarah Maynard, which offers a timely opportunity for financial professionals, business leaders, and firms in Cyprus to engage directly with the business case for inclusion. The discussion will highlight how inclusive behaviours contribute to stronger teams, better decisions, and more sustainable business outcomes, while also encouraging firms to consider endorsing the CFA Institute Inclusion Code. For organisations seeking practical ways to strengthen culture, leadership, and performance, the webinar is a timely and action-oriented forum for engagement.

For financial firms, the next step is clear. Firms should review their practices against the principles of the CFA Institute Inclusion Code and move toward endorsement with seriousness and intent. Endorsement is more than a public statement. It is a commitment to leadership, accountability, measurement, and progress. At a time when financial institutions are being asked to demonstrate resilience, credibility, and long-term value, endorsing the Inclusion Code is an opportunity to strengthen culture, decision-making, and trust. Firms that want stronger teams and better business outcomes should not stand at the edge of this conversation. They should lead it.

CFA Society Cyprus Strengthens Role in European and Local Initiatives

CFA Society Cyprus continues to demonstrate an active presence in key European and local forums, reinforcing its mission to support the development of capital markets, uphold professional standards, and promote social equality.

At the EU Steering Committee meeting of the CFA Institute in Copenhagen, CFA Society Cyprus Secretary, Mr. Kyriakos Inios, represented Cyprus in discussions with societies from across Europe. The meeting provided an important platform for exchanging views and best practices on strengthening capital markets, safeguarding professional integrity, and building investor confidence.

In addition, at the Cyprus Forum, Dr. Stella Mourouzidou-Damtsa, Board Member and Chair of the Inclusion (DEI) Committee of CFA Society Cyprus, participated in a panel discussion on gender equality in politics. She emphasized the proven benefits of diversity, the value of mentoring initiatives, and the importance of measuring inclusion with the same rigor applied to ESG criteria. Her intervention highlighted the need for systemic change to ensure equal opportunities and foster a more inclusive society.

Through such initiatives, CFA Society Cyprus reaffirms its commitment to contributing meaningfully at both European and national levels.

👉 Read the full article

CFA Society Cyprus Launches Podcast Series

CFA Society Cyprus is excited to launch a new podcast series that dives deep into the financial topics shaping our world and local economy. Each episode will bring expert guests sharing insights and practical advice to help you navigate finance and investment challenges with confidence.

Episode 1: Pensions in Cyprus
Board Member and Financial Literacy Chair, Alexandros Clappas, CFA, and guest Panayiotis Mavromichalis, CFA, explore:
🔹 The effectiveness of Cyprus’ pension system
🔹 The role of private pensions in complementing state provisions
🔹 How individuals and policymakers can ensure a secure retirement future

Gain valuable knowledge and be part of a discussion that affects everyone’s financial wellbeing. 

While the first episode is in Greek, future episodes will also include discussions in English, making the podcast accessible to a broader audience.

Click here for press release.

Watch podcast here.

Listen to podcast here.

CFA Society Cyprus: 𝐍𝐞𝐰 𝐋𝐞𝐚𝐝𝐞𝐫𝐬𝐡𝐢𝐩, 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐜 𝐆𝐨𝐚𝐥𝐬, 𝐚𝐧𝐝 𝐔𝐩𝐜𝐨𝐦𝐢𝐧𝐠 𝐀𝐜𝐭𝐢𝐨𝐧𝐬

The CFA Society Cyprus recently shared its 2024 strategic achievements in the press (links below), highlighting its progress under the leadership of the new Board of Directors elected in July 2024. These objectives aim to enhance the Society’s influence within the financial sector and the broader community through the following initiatives:

𝐔𝐧𝐢𝐯𝐞𝐫𝐬𝐢𝐭𝐲 𝐚𝐧𝐝 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐂𝐨𝐥𝐥𝐚𝐛𝐨𝐫𝐚𝐭𝐢𝐨𝐧
The Society will deepen its partnerships with universities and continue promoting financial education. This includes participation in initiatives like the CFA Institute Local Research Challenge and advancing ties with academic institutions through the CFA Institute University Affiliation Program.

𝐏𝐫𝐨𝐦𝐨𝐭𝐢𝐧𝐠 𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐋𝐢𝐭𝐞𝐫𝐚𝐜𝐲
With financial literacy as a core priority, CFA Society Cyprus plans to organize workshops, seminars, and public initiatives to educate both professionals and the general public on financial planning and investment management.

𝐇𝐢𝐠𝐡𝐥𝐢𝐠𝐡𝐭𝐢𝐧𝐠 𝐏𝐫𝐨𝐟𝐞𝐬𝐬𝐢𝐨𝐧𝐚𝐥 𝐄𝐭𝐡𝐢𝐜𝐬
The Society remains committed to raising awareness about the importance of ethical standards in finance, fostering trust and professionalism within the industry.

𝐄𝐦𝐩𝐨𝐰𝐞𝐫𝐢𝐧𝐠 𝐃𝐢𝐯𝐞𝐫𝐬𝐢𝐭𝐲, 𝐄𝐪𝐮𝐢𝐭𝐲 𝐚𝐧𝐝 𝐈𝐧𝐜𝐥𝐮𝐬𝐢𝐨𝐧
Empowering Diversity, Equity, and Inclusion, fostering meaningful conversations, building connections, and driving actionable change to create a more inclusive and equitable community.

Το νέο Δ.Σ του CFA Society Cyprus: Στόχοι και Δράσεις – Boussias News

Το νέο ΔΣ του CFA Society Cyprus: Στόχοι και Δράσεις

Το νέο ΔΣ του CFA Society Cyprus: Στόχοι και Δράσεις | Stockwatch – Παράθυρο στην Οικονομία

 

Bridging the Gender Pension Gap

“Bridging the Gender Pension Gap” organized by DEI Chair and Secreatary of CFA Society Cypris, Natalie Philippou, CFA, under the auspices of the President of the House of Representatives took place at the A.G. Leventis Gallery October 22nd.  The event featured a presentation by Financial Literacy volunteer, Dr. Stella Mourouzidou Damtsa, CFA on the gender pension gap in Cyprus. A panel discussion, moderated by Natalie Philippou, CFA, featured Ms. Savia Orphanidou, Vice President of DISY and Member of the House of Representatives, Panayiotis Mavromichalis, CFA, Executive Director at LifeGoals Financial Services Limited and former President of CFA Society Cyprus, Victoria Kostic-Nola, General Manager, consultant, tech-startups angel investor / advisor and founder of VIZ Ventures and Elena Leonidou Managing Partner of AIMS International Cyprus and Head of EMEA Talent Management Services.  Event was solely sponsored by LifeGoals.

Click here to read press release.

CFA Society Cyprus interview on Protoselido

CFA Society Cyprus Vice President, Constantinos Kourouyiannis, CFA, and Financial Literacy Chair, Alexandros Clappas, CFA, were recently featured on local TV program, Protoselido. During the interview, they covered several significant topics:

  • The pressing issue of financial illiteracy in Cyprus and the general lack of public financial knowledge.
  • Financial Literacy Presentation, which has successfully reached over 3,000 students since 2018.
  • The introduction of Financial Literacy into the school curriculum and its growing significance.
  • The DEI committee’s upcoming Gender Pension Gap Insights presentation in October, supported by local Parliament.
  • Our Career-Focused Webinar Series for industry professionals, alongside other key initiatives.

Watch the full interview here.

CFA Society Cyprus President’s interview on professional development in the complex world of investments

CFA Society Cyprus President, Nikos Potamaris, CFA, speaks about professional development in the complex world of investments in an interview with InBusiness.

To read the full interview, click here.

 

CFA Society Cyprus – New Board of Directors FY2024-2025

Following CFA Society Cyprus’s Annual General Meeting on July 15th, 2024, at the offices of EIMF, the Board of Directors is as follows:

 

Nikos Potamaris, CFA – President

Constantinos Kourouyiannis, CFA – Vice President 

Natalie Philippou, CFA – Secretary and DEI Chair

Evgeny Tarakanov, CFA – Treasurer

Alexandros Clappas, CFA – Financial Literacy Chair

Andreas Spyrides, CFA – Advocacy Chair

Jan-Hofmeyr Retief, CFA – University Relations and Research Challenge Chair

 

Click here to read press release.

The CFA Institute highlights the importance of continuous professional development for investment professionals

CFA Society Cyprus Vice President, Constantinos Kourouyiannis, CFA, writes about the  importance of continuous professional development for investment professionals and outlines best practices for employers.

Constantinos Kourouyiannis, CFA also mentions the incredible opportunities for professional development offered by local Society to its members, who can acquire knowledge through eLearning courses or by volunteering in one of the four committees of the local Society; Advocacy, Research Challenge and University Relations, Financial Literacy and DEI.

Click here to read the article in English.

Click here to read the article in Greek.

Continuous training and professionalism in the financial sector

Andreas Cleanthous, President of CFA Society Cyprus, analyses the “golden rule” in the field of investments and especially for financial analysis and services professionals.

In the article, CFA Society Cyprus President mentions the local Society’s past years accomplishments, rapid growth and plans in the upcoming months.

Click here for full article.