Almost half of the UK’s financial services staff are now covered by the Women in Finance Charter, aiming to tackle gender inequality in financial services.
Another 33 firms have signed up to the government’s charter, covering an extra 33,000 employees. The latest signatories include CYBG, Bank of America Merrill Lynch, Royal Bank of Canada, VocaLink and NS&I.
The news comes on the first anniversary of the charter, with 122 firms, employing over half a million people in the UK and covering almost 50 per cent of the financial services sector, now signed up.
The Women in Finance Charter, launched a year ago today, asks financial firms to commit to four industry actions to build the female talent pipeline for leadership positions. The Charter’s innovative approach has been an unprecedented success with some of the UK’s biggest and most well established firms signing up.
Since the Charter launched, 77 financial services firms have committed to have at least 30 per cent women in senior roles by 2021 and 23 firms have committed to a 50/50 gender split in senior roles by 2021.
Speaking about the achievements, Baroness Neville-Rolfe, the Commercial Secretary, said, “I know how difficult it can be for a woman to get the recognition she deserves and achieve her potential.”
“And in financial services particularly, women progress too slowly or they leave the sector completely.”
“We have made a strong start – the first anniversary of the Women in Finance Charter sees 122 firms seizing the competitive advantage by tackling sex inequality head on.”
“But this is just the beginning.”
“The financial industry is famed for its ability to identify opportunities to improve productivity.”
“The Women in Finance Charter is one of those opportunities.”
“It offers the chance to increase diversity of thought and for the financial services sector to better reflect the society it serves.”
“This is why I encourage firms across the UK to step up and sign the Charter.”
Jayne-Anne Gadhia, CEO of Virgin Money and the government’s Women in Finance Champion said, “I am delighted with the strong and ongoing momentum of the Women in Finance Charter.”
“A truly diverse financial services sector will drive productivity and underpin the UK’s position as a strong and competitive economy.”
“There is still further to go and I urge more businesses to commit to the charter so that they can play their part in building an economy that works for everyone.”