More organisations have signed up to the Women in Finance Charter

300 organisations have now committed to the HM Treasury’s Women in Finance Charter.

Introduction

On 20 November 2018, a further 33 firms signed up to the Women in Finance Charter, pledging to promote gender diversity, taking the total number of signatories to 300.

The first annual review of the Women in Finance Charter was in March 2018 and showed 85% of signatories then had either met targets, or were on track to meet them.

New signatories from November 2018 (gender diversity targets to be published in January 2019):

  • American Express
  • BDO LLP
  • Berry & Oak
  • British Friendly Society
  • Bullionblock Ltd
  • Carrington Investment Consultants Limited
  • CNA Hardy
  • Darcey Quigley & Co Ltd
  • DST Financial Services International Ltd
  • Earth Capital Partners 
  • FTI Consulting LLP 
  • Graphite Partners 
  • Hastings Direct 
  • IRESS Limited 
  • JM Finn & Co 
  • Longhurst Limited 
  • LV=General Insurance
  • Mint Bridging Ltd
  • Muzinich & Co Limited 
  • Nacional Financiera SNC London Branch 
  • Pantheon Ventures (UK) LLP 
  • Pensions and Lifetime Savings Association (PLSA) 
  • Refinitiv 
  • Societe Generale 
  • Sustainable Technology Investors Ltd 
  • Target Group Ltd 
  • The Cumberland Building Society 
  • The National Farmers Union Mutual Insurance Society Limited
  • Tullow Oil Plc
  • Ummah Ventures Limited (Moneemint)
  • Venture Founders 
  • Veritas Commercial Services
  • Willis Owen Limited

The commitments of the signatories given are available on this pdf here.

The Charter

The Charter follows the Gadhia report in March 2016 “Empowering Productivity: Harnessing the Talents of Women in Financial Services” (as summary of the report is available here).

The Charter is “a pledge for gender balance across financial services” being a commitment by HM Treasury and signatory firms to work together to build a more balanced and fair industry.

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, and
  • requires firms to publicly report on progress to deliver against these internal targets to support the transparency and accountability needed to drive change.

By signing the charter, an organisation pledges to promote gender diversity by:

  • having one member of the 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 their website, and
  • having an intention to ensure the pay of the senior executive team is linked to delivery against these internal targets on gender diversity.

For a summary of the current and proposed diversity reporting obligations in the UK, please see our elexica article “Taking stock: UK Diversity reporting - metrics and proposed changes”. 

This document (and any information accessed through links in this document) is provided for information purposes only and does not constitute legal advice. Professional legal advice should be obtained before taking or refraining from any action as a result of the contents of this document.