A balanced and diverse workforce is good for business, helping create fairer and more inclusive working environments which boost creativity and productivity, ultimately better serving everyone from customers to shareholders. Recognising this, UK Finance, the body that represents around 300 of the leading firms providing finance, banking, markets and payments-related services in or from the UK, is signing up to the HM Treasury Women in Finance Charter.
The Women in Finance Charter is a commitment by HM Treasury and signatory firms to work together to build a more balanced and fair financial services industry. The Charter was a recommendation following a review by Virgin Money’s CEO – and UK Finance Board member leading on diversity – Jayne-Anne Gadhia into harnessing the talents of women in finance, with a focus on fairness, equality and inclusion.
Stephen Jones, Chief Executive of UK Finance said, “The Women in Finance Charter is an important part of the initiatives and support across the financial services industry for the advancement of women in senior management positions. UK Finance is proud to commit to the Charter and we have set ourselves the target of achieving 40 per cent female representation within senior management over three years, and aspire to achieve gender parity over the medium term.”
The core Charter pledges for promoting gender diversity comprise:
- Having one member of our senior executive team who is responsible and accountable for gender diversity and inclusion;
- Setting internal targets for gender diversity in our senior management;
- Publishing progress annually against these targets in reports on our website;
- Having an intention to ensure the pay of the senior executive team is linked to delivery against these internal targets on gender diversity.
Following discussion within our Board, we have set ourselves the target of achieving 40% female representation within senior management over three years, and aspire to achieve gender parity over the medium term.
We aim to attract outstanding and diverse talent to operate in a collegiate and collaborative environment. We see our commitment under the Women in Finance Charter as symbolic of the balanced and inclusive working environment needed to succeed in financial services.
We see our commitment to the Charter as emblematic of the support within financial services for the advancement of women in senior management positions and, more generally, policies intended to deliver a more equal, inclusive and diverse workplace.
In addition to putting in place policies that will meet and support our core pledges we will further promote the adoption of the Charter across the financial services industry.