December 16, 2020

Below is an excerpt from a firmwide communication I shared which started us towards the HBK initiative regarding Diversity, Inclusion and Equality. In the days since, we have engaged Mary Bennett, a national consultant, to assist HBK in this journey. To date, interviews of team members have been conducted and summarized, a steering committee selected, and we are now developing a multi-year plan for making meaningful progress at our firm.

"In the past weeks and months, our country has faced what seems to be a series of unrelated challenges to what we consider n01mal. Some challenges are unwelcome and benefit no one, like the COVID outbreak; others are a call to action. In the case of the death of George Floyd, we see where one individual's life was unnecessarily taken and how it rang a bell that has been rung many times but never seems to be heard well enough.

How could we as a firm say that we recognize that social and racial injustice does not have a place in this country, which was founded on individual freedom? We answer the question by saying that these injustices are not welcome here, that we aspire to be part of the solution, not part of the problem-and that we all commit to doing better at understanding and acknowledging the issues and being open to discussion and communication that can bring about change.

The challenges of racism and discrimination are daunting. But our American spirit drives us to accept this challenge and defeat this unwelcome truth. We must do better. I have no right to speak on your behalf or tell you how to feel; that is the beauty of our freedom, that you have the right to make your own choices. I only ask that you pause and think about how you would feel if you were not treated with respect and dignity?"

Please let me know if anything else is needed. Thank you for your assistance.

Respectfully,

Christopher M. Allegretti
Managing Principal, CEO