Morningstar’s Fabio Peyer’s journey from Swiss countryside to LGBTQ+ Index pioneer

In conversation with myGwork, Fabio Peyer, director of indexes marketing Europe at Morningstar, discussed the integral role he played in establishing the first LGBTQ+ Index. He explains the importance of this commitment, how they address the multiple dimensions of diversity, and what it means for the future of DEI at Morningstar and beyond.

Could you tell us about your background and career journey leading up to your current position at Morningstar?

My career has been shaped by my professional ambitions and personal commitment to advancing inclusivity, particularly within the financial services sector. I am originally from Switzerland, a country with deep roots in the financial services sector. I joined Morningstar in 2017 as Marketing Manager, responsible for the company’s brand across the German, Swiss and Austrian markets. My hard work was recognised, leading to new opportunities including building the demand generation strategy for the business across the EMEA region. I also led and supported initiatives focused on building a more inclusive workforce. I was determined to excel in my career while driving positive change.

Tell us a bit about your childhood – where did you grow up; did you have any hobbies?

I grew up in the Swiss countryside with my mother and two younger brothers. I was a quiet child but always diligent, dreaming of becoming a teacher. Despite my dislike for football, my mother insisted I play, hoping I might become a famous footballer. Looking back, I can see that football taught me valuable lessons about teamwork and persistence. At school, I faced some bullying, and while I tried ignoring it, I can’t hide the fact it hurt. However, I believe these experiences can make a person stronger.

Can you share your personal journey with the LGBTQ+ community?

Leaving home at 18 to move to a big Swiss city for my first job was a significant change. For the first time, I felt accepted for who I am. I made new friends who embraced my personality, and this newfound acceptance gave me the confidence to come out at work.

Relocating to London from Switzerland sometime later was a pivotal moment.

The transition introduced me to a diverse and dynamic culture. Since then, I have been actively involved in various diversity, equity and inclusion programmes, including Global ERG lead for OUT@Morningstar, an initiative aimed at breaking down barriers and contributing to a culture where colleagues feel empowered to bring their authentic selves to work.

While I have been fortunate to avoid discrimination at work, I recognise this isn’t the case for everyone. I am proud to be part of our beautiful community, but I appreciate there is still much work to be done before everyone feels truly accepted.

What has been a standout moment in your career so far?

I believe this standout moment just happened. A year ago, when I began thinking about topics for my MBA thesis, I was keen to combine my passion for DEI with my role on the indexes team at Morningstar. Through extensive research on socially focused investment opportunities, I discovered a significant gap. While a few market indexes focus on aspects like gender equality and ethnicity, there wasn’t a single index aligned with the values of the LGBTQ community. As I delved deeper into this topic, I developed strong arguments for why Morningstar should commit to building the first LGBTQ index.

The case was compelling; our community is no longer niche, especially with Gen-Z driving much of the change. Recent studies show that 16% of Gen-Z no longer identify as heterosexual, and 6% as not cis-gender. This growing community is also shifting financial assets toward the LGBTQ+ community, referred by some as ‘pink-money’. When I presented the case to leadership, I received immediate commitment for Morningstar to build such an index. I am proud to say that it launched during Pride month this year: the Morningstar Developed Markets LGBTQ+ Leaders Index.

How does Morningstar strive for inclusivity and provide an open space for LGBTQ+ employees?

DEI is a key priority at Morningstar, and we recently demonstrated this commitment by hiring our first-ever Global Head of DEI. The LGBTQ+ community, along with all minority groups at Morningstar, is given a strong voice within the organisation. Out@Morningstar, the employee-resource-group for the LGBTQ+ community, is one of the most established and largest in the company. Along with great leadership support and a powerful ERG leadership globally, we build powerful partnerships with organisations like myGwork, LGBT Great, and the Human Rights Campaign to expand our reach and strengthen the voice of our community.

Throughout your career, have you noticed any developments in attitudes towards the importance of diversity and inclusion?

Throughout my career, I’ve seen significant positive shifts in attitudes towards diversity and inclusion. Once treated as checkbox exercise, it is now recognised as both ethical standards and a driver of innovation. Morningstar’s LGBTQ index is a perfect example of how D&I can inform a company’s product strategy. Companies are increasingly addressing multiple dimensions of diversity, extending beyond just gender and ethnicity.

While progress varies across industries and challenges remain, I’m encouraged by more education, open dialogue and proactive leadership at all levels. The most notable change is the shift from viewing D&I as compliance issues to embracing them as core values that enhance our work and expand our market reach.

What immediate improvements would you like to see being made for LGBTQ+ equality in the future – both in the workplace, and wider society?

In the workplace, we need to move beyond surface-level inclusion efforts that can veer into pink-washing – the superficial support of LGBTQ+ rights. One goal of the Morningstar LGBTQ index is to identify and promote companies with truly inclusive cultures, encouraging them to advance their DEI efforts The index serves as a guide for companies on their equity journeys.

Comprehensive policies protecting LGBTQ+ employees are essential, including non-discrimination clauses, inclusive healthcare, and support for transitioning employees. Representation in leadership is also crucial for diverse perspectives in decision-making, enabling initiatives such as the Morningstar LGBTQ+ Index.

In society, the most pressing issue is the protection and advancement of transgender rights amid a concerning backlash and erosion of trans rights in many areas, such as access to healthcare. Stronger legal protections for trans individuals, better access to gender-affirming care, and education to combat misinformation and prejudice are vital.

Addressing the intersectionality of LGBTQ+ issues with race, gender, class, and disability is crucial to ensuring progress benefits everyone, not just the privileged. It’s important to consider the whole person not just single aspects of diversity.

Is there anything we haven’t discussed already that you would like to include?

As I reflect on my journey, I am filled with a sense of purpose and hope for the future. The LGBTQ Index wasn’t just a professional project; it was a personal mission. I envisioned a world where financial empowerment and our community’s values could intertwine, and I’m truly grateful that Morningstar embraced this vision through my advocacy.

This index is more than just a benchmark; it’s a tool that I believe will empower our community to make informed financial decisions that align with our principles. Our community, with its significant economic influence and growing visibility, deserves investment options that reflect our values.

I am proud to have played a part in making this a reality, but I know this is just the beginning. I hope it serves as a steppingstone toward a more inclusive financial future, and that through informed financial decisions, we can drive positive change – not just for our community, but for society.

Morningstar is a proud partner of myGwork, the LGBTQ+ business community. Find out more about LGBTQ+-friendly job opportunities at Morningstar.