The PhD Project Announces Fidelity Investments®' Support to Inspire a New Generation of Diverse Leaders

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MONTVALE, NJ — The PhD Project, an award-winning program designed to inspire a new generation of diverse business leaders by creating a support network for minority business school faculty, today announced Fidelity Investments®' commitment to workforce diversity by joining its roster of sponsors. Fidelity will join some of America's largest and like-minded corporations, foundations and academic organizations as co-sponsor of The PhD Project.

The PhD Project was created in 1994 to address the severe under-representation of African-Americans, Hispanic-Americans and Native Americans in management by diversifying the frontlines of the business school classroom. The expansive network of supporters, sponsors and universities helps diverse individuals attain their business PhD and be in a position to mentor the next generation of leaders. The PhD Project believes a diverse faculty encourages more minorities to pursue business degrees, thereby increasing the pool of minority applicants for positions in today’s multicultural corporate environment.

"We believe diversity is an imperative for any business looking to survive and thrive in today’s changing corporate landscape," said Amy Philbrook, head of diversity and inclusion at Fidelity Investments. "That is why Fidelity supports and shares in The PhD Project's mission to increase the diversity of business school faculty positioned to encourage and mentor tomorrow’s leaders."

"It is encouraging to see corporations like Fidelity support diversity in education," said Bernard J. Milano, President of the KPMG Foundation, the founder and lead sponsor of the program. "Their commitment to diversifying b-school faculty will help carry on the momentum of The PhD Project, which has more than quadrupled the number of minority business professors in its 23 years."

When The PhD Project was created, there were only 294 doctorally qualified African-American, Hispanic American or Native American business professors in all U.S. business schools. Today, there are 1,429 minority business professors. Further, 270 minorities are currently enrolled in doctoral programs, and will take a place at the front of the classroom over the next few years. The PhD Project provides direct access to these individuals, so companies providing funding at or above a certain level can connect with participants and their students to share information about careers, scholarships and other educational initiatives.

The PhD Project has received ongoing support, along with Fidelity Investments, from its sponsoring companies, participating universities and organizations, and supply alliance members. Its founding organizations in addition to the KPMG Foundation, are the Graduate Management Admission Council, Citi Foundation, AACSB International. Other leading corporations, foundations and associations funding it include: 298 Participating Universities, AICPA Foundation, DiversityInc, Dixon Hughes Goodman LLP, American Marketing Association, Rockwell Collins, John Deere Foundation, CIGNA, California State University System, Lincoln Financial Group, Academy of Management, American Accounting Association, City University of New York System, Aerotek, NASBA, OCWEN Financial Corporation, Thrivent Financial and American Express Foundation.

For more information on The PhD Project, visit: http://www.phdproject.org or contact Lisa King at 646-234-5080 or lisak@mediaimpact.biz. Visit us on Facebook at http://www.facebook.com/thephdproject; Follow us on Twitter at www.twitter.com/ThePhDProject.

About Fidelity Investments

Fidelity's mission is to inspire better futures and deliver better outcomes for the customers and businesses we serve. With assets under administration of $6.8 trillion, including managed assets of $2.4 trillion as of December 31, 2017, we focus on meeting the unique needs of a diverse set of customers: helping more than 26 million people invest their own life savings, 23,000 businesses manage employee benefit programs, as well as providing more than 12,500 financial advisory firms with investment and technology solutions to invest their own clients' money. Privately held for 70 years, Fidelity employs more than 40,000 associates who are focused on the long-term success of our customers. For more information about Fidelity Investments, visit https://www.fidelity.com/about.

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