HSBC sets target of 50/50 management team by 2020

Senior Exec Woman on boardHSBC UK has set a target to appoint a 50/50 management team by 2020, through the appointment of more women into the bank’s senior roles.

The lending provider has set it plans to have half of its 5,500 senior roles occupied by women in the UK.

According to HSBC less than a third of the bank’s senior management roles are currently held by females.

António Simões, chief executive of HSBC Bank, said: “We have the opportunity to build a different type of bank through the creation of HSBC UK, which is more responsive to customer needs and fully reflects the diversity of society.”

“It’s completely unacceptable that in 2015, women are still significantly under represented at a senior management level across the financial services industry.”

HSBC will be creating a new head office in Birmingham for its retail division, which will be finished by 2019. The lender plans to have half the 550 senior roles in the new Birmingham office filled by women by 2020.

According to a report by the British Bankers’ Association 21% of senior manager roles at FTSE100 banks are held by women. This figure is 22% across all FTSE100 companies.

The Association said that banks should face “internal consequences” for failing to have diverse teams and that the “pinstripes and braces” reputation currently held by the industry should be ended.

Lloyds Banking Group set a target last year for 40% of its senior roles to be occupied by women by 2020.

Royal Bank of Scotland set a target of 30% females in its top three leadership levels by 2020.

Barclays is aiming for 26% of women in its senior roles by 2018.

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