Christopher Johnson is the President of Global Financial Services at Pitney Bowes, where he manages the financing and lending businesses, as well as the consumer and merchant payments and risk management functions across the company. Christopher also holds leadership responsibility for Pitney Bowes Bank, a state chartered industrial loan company.
Diversity in a predominately white industry like finance continues to be important. Now is the time to make changes to ensure inclusion in the future. Main Street is going to be hit the hardest in the post-pandemic world as interest rates increase and buyers demand doesn’t meet pre-COVID levels. If you’re a small business owner or entrepreneur having a hard time getting a loan from your bank, there are alternative routes to financing your business.
Hear Christopher discuss the important trends he sees in the small business lending space , particularly for diverse people. And take advantage of his advice for someone looking to follow in his footsteps.
America has a long history of racial segregation and systemic racism that made it difficult for ethnic minorities to achieve financial and economic stability. Well-researched academic studies have found that “even after decades of growing diversity…most Americans still live in racially segregated neighborhoods.”
A study conducted by the University of Minnesota found that 64% of the urban city population are people of color while only 34% are white. Take a look at the graph below:
College loans, credit cards, mortgages—they all add up to a lack of disposable income, and worse yet, with the possible social security shortfall predicted by the year 2034, no extra funds to put away for retirement, so today’s high school students run the risk of not having enough money to live on through their golden years. Even worse, they may find it difficult to support themselves and their eventual families. It is difficult to predict what will happen to our economy, but if today’s high school graduates learn to arm themselves financially, they can live a comfortable life with a soft monetary cushion.
Kellie Wise is a Principal at Edward Jones, responsible for field-based Inclusion and Diversity. Kellie promotes the programs and policies that create financial advisor and branch team inclusion in the field including: Race, Ethnicity, Gender & Orientation