July 2019 • Topic: Driving diversity • by Olivia Seddon-Daines & Yasmine Chinwala
The HM Treasury Women in Finance Charter was launched in March 2016 and now has over 350 signatories covering 800,000 employees across the sector. Our latest report is based on a survey of 136 firms that have signed up and assesses the concrete impact the Charter is having on how they approach diversity, the benefits they are realising – and the challenges they face in meeting their Charter commitments.
The UK government launched the HM Treasury Women in Finance Charter in March 2016 to encourage the financial services industry to improve gender balance in senior management. The Charter now has over 350 signatories covering 800,000 employees across the sector.
The number of signatories illustrates how seriously the sector is taking the Charter. But what impact has joining the Charter had on signatory companies? What benefits are they realising and what challenges do they face in meeting their Charter commitments? New Financial surveyed Charter signatories in April 2019 to answer these questions.
The highlights of the survey include:
HM Treasury invited all Charter signatories to participate in the survey in April 2019. We received responses from 136 firms.
We are very grateful to all the signatories that took part in the survey. We would also like to thank our institutional members for their support, and particularly Virgin Money, now owned by CYBG, and City of London Corporation for funding this research.
New Financial believes that diversity in its broadest sense is not only an essential part of running a sustainable business but a fundamental part of addressing cultural change in capital markets. We provided data to Jayne-Anne Gadhia’s government-backed review of senior women in financial services, Empowering Productivity, and we are working with HM Treasury to conduct an annual review of the HMT Women in Finance Charter to monitor the progress of charter signatories.
As part of our aim to move the diversity debate forward, we host a series of seminars and workshops on different aspects of diversity, and we publish surveys and research. If you have any feedback on this report or are interested in taking part in our events programme, please contact Yasmine Chinwala on firstname.lastname@example.org