Women in Finance Charter Reaches 300 Signatories
The UK’s Women in Finance Charter has just reached 300 signatories with companies joining the register including JP Morgan, Equifax, and MT Finance.
The Charter is a pledge for firms to work together to help build greater gender balance in financial services and according to HM Treasury, which now covers over 760,000 financial services employees in the UK. Industries involved include those in investment banking, mortgages, consumer credit and insurance.
Terms of The Charter
Commits firms to supporting the progression of women into senior roles in the financial services sector by focusing on the executive pipeline and the mid-tier level;
Recognises the diversity of the sector and that firms will have different starting points – each firm should, therefore, set its own targets and implement the right strategy for their organisation;
Requires firms to publicly report on progress to deliver against these internal targets to support the transparency and accountability needed to drive change.
The Charter was started in 2015, following the review of Jayne-Anne Gadhia, the CEO of Virgin Money, to investigate the representation of women in senior managerial roles in financial services in the UK. The findings showed that women made up only 14% of Executive Committees and the Charter is designed to encourage firms to promote women to more senior roles and generate a gender equality. The Charter was officially launched in March 2016.
The Charter includes the idea of creating an organisation culture to harness gender equality. This includes having one member of a senior executive team who is responsible and accountable for gender diversity and inclusion.
HM Treasury welcomes interest from all firms of any type and size to sign up to the Charter, and join our next cohort of signatories. Interested companies can send us an email to firstname.lastname@example.org more information on the Charter. To sign the Charter and formally commit to implement these recommendations, please visit the website and complete the online form.
Other well-known companies to sign up to the Charter include Sesame Bankhall Group, Investec Wealth and Investment, Metro Bank, Sainsbury’s Bank, Bank of Ireland and Ipswich Building Society.