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For the first time ever, over 400 firms covering one million
employees are now signed up to the Women in Finance Charter
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By doing so, firms pledge to support the progression of women
into senior roles in financial services, set internal targets
to improve diversity and publicly report on progress
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78% of signed-up firms are meeting or are on track to meet
their targets, up 5% on last year
By signing up to the Charter, firms pledge to support the
progression of women into senior roles in financial services by
setting targets to improve diversity and publicly report on their
progress.
The Charter, established in 2016, reflects the government’s
aspiration to enhance gender equality at all levels across
financial services firms, in recognition that a balanced
workforce is good for businesses good for customers – and is
increasingly attractive to investors.
The annual review published today (23rd June) found that 78% of
firms are already meeting or are on track to meet their targets
to see more women in the boardroom – up 5% on last year - and
almost half of firms have committed to have 40% of their
boardroom made up of women.
Economic Secretary to the Treasury, said:
Diverse representation and gender equality in the financial
services sector is good for business, good for investors and
reduces barriers to growth and enterprise.
I welcome this year’s progress, but settings targets is just one
part of the process – I am today calling on firms double-down on
their to commitments and continue to deliver greater
gender-equality in the workplace.
Women in Finance Champion, Amanda Blanc said:
I am concerned to see progress stagnating. Frankly, up to now
there has been too much tinkering at the edges and not enough
fundamental change. Be in no doubt, major change in this area is
tough – but it’s crucial we get it right. There are some glimmers
of hope with more ambitious targets being set and met. But for
the sake of women, companies and society, we’ve got to work
quicker and harder.
The average level of female representation in senior management
within the industry has remained flat at 33% in 2021 compared to
2022. Two-thirds of signatories either increased or maintained
their proportion of women in senior management.
While progress has been made, there is more work to be done to
ensure greater representation of women in senior roles in
financial services.
Now that the Charter is in its sixth year, the government will
continue working with industry to achieve meaningful progress to
create a world-leading financial services industry which
champions diversity, innovation and reduces barriers to growth
and enterprise.
Further information
- The Women in Finance Charter is a voluntary commitment,
ensuring firms set out clear targets to see greater
representation of women in boardrooms.
- The Annual Review, published here, assesses progress among
signatories to date, and how firms are delivering against their
targets.
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Women in Finance
Charter
