MP Nicky Morgan puts pressure on firms to join Women in Finance charter

Nicky Morgan

Conservative MP Nicky Morgan has put pressure on firms to sign up to the Women in Finance charter.

Morgan wrote to over 30 finance firms, including Goldman Sachs, Invesco Perpetual and NFU Mutual, urging them to sign the charter and pledge to improve gender balance within their organisations.

In the letter, Morgan wrote, “The progress of the Women in Finance Charter is to be welcomed.”

“The aim, however, must be to see all firms in the financial sector sign up to the charter and make a concerted effort to improve their gender diversity, particularly in senior roles.”

“Huge multinationals including Goldman Sachs, JP Morgan and UBS are yet to sign up to the charter, and if they don’t intend to do so, the Treasury committee wants them to explain why.”

The Charter asks financial firms to commit to four industry actions to prepare their female talent for leadership positions.

Since the Charter launched, 120 financial services firms have committed to have at least 30 per cent women in senior roles by 2021 and of those, 40 firms have committed to a 50/50 gender split in senior roles by 2021.

In November, it was reported that over 160 firms have signed up to the Women in Finance charter, covering over 600,000 UK financial employees. The charter’s signatories include Bank of England, Deloitte, Tesco Bank, PwC, Barclays, Citi, Monzo, EY and Schroders.

Goldman Sachs have since announced that they are to sign up to the charter.

In a statement, the firm said, “We are committed to promoting diversity and inclusion at all levels of the firm.”

“It is critical that we recruit and retain a diverse group of people who bring a broad range of experiences, capabilities and perspectives to our organisation.”

“Our participation in the Women in Finance Charter is one element of this broader commitment.”

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Alison is the Digital Content Editor for WeAreTheCity. She has a BA Honours degree in Journalism and History from the University of Portsmouth. She has previously worked in the marketing sector and in a copywriting role. Alison’s other passions and hobbies include writing, blogging and travelling.

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