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Driving diversity

Diversity in its broadest form is an essential part of building a more sustainable business – and of changing culture and rebuilding trust in capital markets.

Report: HM Treasury Women in Finance Charter Annual Review

March 2019 • Driving diversityby by Olivia Seddon-Daines, Jennifer Barrow and Yasmine Chinwala

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 330 signatories covering 800,000 employees across the sector.

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Sam Friedman book launch – The Class Ceiling: Why it Pays to be Privileged

March 2019 • Event • Driving diversityby New Financial

We are excited to be hosting Sam Friedman, an Associate Professor in Sociology at the London School of Economics, to talk about his latest research and new book demonstrating the existence of a powerful class pay gap, as well as exploring the complex barriers to career progression for those from less privileged backgrounds. https://www.classceiling.org/  

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Diversity and culture in pay

March 2019 • Event • Driving diversityby New Financial

Pay is the ultimate incentive for financial services. How are companies bringing diversity and culture criteria into how staff get paid? We know that the linking gender diversity targets to pay is the most controversial of the four principles of the HM Treasury Women in Finance Charter, so how are the mechanisms for incorporating these […]

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Diversity and Risk

March 2019 • Event • Driving diversityby New Financial

Diversity is increasingly mentioned as a means to reduce or mitigate risk – risks such as access to potential talent; incremental competitive advantages in winning new business; minimising legal, cultural, behavioural and reputational risk; and applying cognitive diversity to improve financial performance and minimise financial risk. But what does that mean in practice? This breakfast […]

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Unconscious Bias training – making a greater impact

March 2019 • Event • Driving diversityby New Financial

Rolling out unconscious bias training is a top three (if not the top) action point according to our research on the Women in Finance Charter and Gender Pay Gap reporting. But how effective are unconscious bias training programmes?  Recent reports from Harvard Business Review and Government Equalities Office reports questioning their impact. This breakfast is […]

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Report: Diversity & culture

January 2019 • Driving diversityby Olivia Seddon-Daines, Yasmine Chinwala & Jennifer Barrow

While culture and diversity have both moved up the agenda of the financial services industry, most firms treat them as distinct issues with discrete initiatives and separate reporting lines. Our analysis finds diversity and culture are closely interconnected and that a more holistic approach to both would yield better – and faster – results. Diversity and Culture analyses the differences and similarities in how companies approach diversity and culture and why it matters.

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HM Treasury Women in Finance Charter – Annual Review launch event

January 2019 • Event • Driving diversityby New Financial

HM Treasury in collaboration with New Financial present the launch event of the second Annual Review of the HM Treasury Women in Finance Charter, hosted by the City of London Corporation. This is an opportunity to gain insight into the progress of Charter signatories, celebrate successes, discuss best practice around the principles of the Charter, […]

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Diversity & Culture breakfast

December 2018 • Event • Driving diversityby New Financial

While culture and diversity have moved up the agenda of the financial services industry for similar reasons, most firms treat them as distinct issues with discrete initiatives and separate reporting lines. Our analysis finds diversity and culture are closely interconnected and that a more holistic approach to both would yield better – and faster – […]

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Report: diversity in portfolio management

September 2018 • Driving diversityby Olivia Seddon-Daines & Yasmine Chinwala

There is broad consensus that diverse voices enhance investment performance by increasing diversity of thought, which improves decision-making and investment idea generation while guarding against groupthink. But the industry has a long road ahead to cultivate the diverse workforce that can bring all these benefits. This report identifies the practical barriers to diversity in portfolio management, analyses what individual firms are doing to address these challenges – and highlights how the industry can work together to accelerate change.

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New Financial event series with Wendy Garcia, Chief Diversity Officer, New York City Comptroller

September 2018 • Event • Driving diversityby New Financial

We interviewed Wendy for our groundbreaking 2017 research, Diversity from an Investor’s Perspective, and are very excited to be hosting her for an event series with New Financial members. Wendy is fiercely passionate about the importance of diversity to everyday business, economic development and wider society, and has a broad view of the diversity agenda […]

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Diversity from a Regulator’s Perspective – breakfast with Julia Hoggett

August 2018 • Event • Driving diversityby New Financial

At this breakfast with Julia Hoggett, director of market oversight at the Financial Conduct Authority, we will discuss why and how diversity is being incorporated into regulatory discussions. Julia joined the FCA from Bank of America Merrill Lynch where she was managing director, responsible for a range of debt capital markets products including European Commercial […]

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Breakfast launch of Diversity in Portfolio Management research, in collaboration with the Diversity Project

August 2018 • Event • Driving diversityby New Financial

Our latest research looks at the asset management sector, and specifically portfolio managers, to better understand the barriers to progression for women and people of diverse backgrounds and offer a menu of ideas from asset management companies to tackle those barriers, in order to encourage a shift in thinking from lowest common denominator to best-in-class […]

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Report: Understanding the gender pay gap in banking and finance

July 2018 • Ecommerce reports • Driving diversityby William Wright

Our unique analysis of the gender pay gap data at nearly 400 firms from across the financial services industry highlights the wide range in the pay gap, bonus gap, and levels of female representation in different sectors of the banking and finance industry – and sets a benchmark to measure future progress.

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Diversity of thought – breakfast with Simon Fillery

June 2018 • Event • Driving diversityby New Financial

At our latest event in New Financial’s breakfast series we will be trying to broaden our understanding of cognitive diversity, including Q&A with Simon Fillery, head of inclusion at the Bank of England, as our guest speaker. The Bank has undertaken an internal project to work out what diversity of thought means to the Bank, […]

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Men as allies – diversity breakfast

June 2018 • Event • Driving diversityby New Financial

With an ever-increasing focus on the diversity agenda, what are financial services firms doing to bring their incumbent population (which for most will be predominantly white men) along with them on the road to improving diversity? How can firms work on communicating with their staff so they don’t feel alienated and de-prioritised? This breakfast will […]

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Q&A with Dr Sam Friedman, associate professor in sociology at the London School of Economics

May 2018 • Event • Driving diversityby New Financial

This breakfast event will focus on discussing the benefits and challenges of collecting and analysing social mobility indicators. We are very pleased to have Dr Sam Friedman, associate professor in sociology at the London School of Economics, as our guest speaker. Sam’s research contributed to the UK Government’s consultation to develop a set of measures […]

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Report: HM Treasury Women in Finance Charter Annual Review

March 2018 • Driving diversityby Yasmine Chinwala & Olivia Seddon-Daines

The UK government launched the HM Treasury Women in Finance Charter in March 2016 to encourage the financial industry to improve gender balance in senior management. This report is the first annual review of signatories to monitor their progress against their Charter commitments over the past year. And while they are off to an encouraging start – 85% have either met their targets or are on track to meet them – progress has so far been slow.

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The first year of pay gap reporting – breakfast with Sam Smethers, Fawcett Society

February 2018 • Event • Driving diversityby New Financial

By April 2018, companies in the UK with 250 or more employees had to publish certain information regarding the pay gap between male and female employees. For many firms, the reporting process has been challenging, and the results have sometimes been confusing (particularly given the occasional misunderstanding in the media of what the gender pay gap […]

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Setting targets to improve diversity in asset management – breakfast with Jackie Turpin, Joseph Rowntree Charitable Trust

February 2018 • Event • Driving diversityby New Financial

Our recent research report on ‘Diversity from an Investor’s Perspective’ showed how some of the most progressive pensions funds and asset owners are putting pressure on their asset managers to improve diversity. At this breakfast Jackie Turpin, head of finance at the Joseph Rowntree Charitable Trust, will discuss what the Trust has been doing in […]

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Report: Diversity from an Investor’s Perspective

October 2017 • Ecommerce reports • Driving diversityby Olivia Seddon-Daines & Yasmine Chinwala

Diversity is firmly on the corporate agenda. New Financial’s latest report  looks for the first time at what asset owners (such as pension funds, insurers and sovereign wealth funds) are doing on the diversity front. We analysed 100 asset owners globally with combined assets of $8 trillion to find out why and how they are approaching diversity – and how this affects asset managers.

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Creating a culture of challenge – breakfast with Alison Cottrell, Banking Standards Board

October 2017 • Event • Driving diversityby New Financial

Diversity of thought and a willingness to challenge group think are essential aspects of diversity, particularly in financial services. This year, the Banking Standards Board published the findings of its annual assessment exercise conducted with 22 member firms and generating 28,000 responses.  One-third of those surveyed said that people in their organisation become defensive when their views […]

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HM Treasury Women in Finance Charter: Signatories Survey 2017

July 2017 • Driving diversityby Yasmine Chinwala

HM Treasury’s Women in Finance Charter launched in March 2016 and now has more than 140 signatories. Our latest report is based on a survey of more than 80 firms that have signed up and assesses the concrete impact of the Charter is having on how they approach diversity, the benefits they are experiencing – and the challenges they face in meeting their Charter commitments.

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Counting Every Woman 2017: making progress on gender diversity in the capital markets

June 2017 • Driving diversityby Yasmine Chinwala

The debate around gender diversity at the most senior levels in the corporate world has shot up the agenda in recent years – but for all the talk, how much progress has been made in the financial services sector? New Financial’s latest research on female representation on boards and executive committees across European capital markets shows a significant improvement in female representation on boards and excos – and the numbers are heading in the right direction across the industry.

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The benefits and challenges of neurodiversity – dinner with Ray Coyle, Auticon

May 2017 • Event • Driving diversityby New Financial

At this dinner on neurodiversity, Ray Coyle, UK chief executive of Auticon will discuss the benefits and challenges of working with staff on the autism spectrum. Auticon specialises in placing IT and compliance consultants who are autistic. Ray will share his views on the benefits of neurodiversity, the common misconceptions about working with autistic colleagues, and offer […]

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Diversity breakfast: creating a culture of self-reporting – with Simon Fillery, Bank of England

March 2017 • Event • Driving diversityby New Financial

The Bank of England has been working hard to encourage staff to share information on diversity characteristics, including sexuality, disability, gender, ethnicity, carer status and religion. According to the Bank’s 2016 annual report, more than 80% of staff are comfortable about sharing their diversity data, LGBT disclosure has increased to 2.5% from 2%, disability disclosure […]

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Diversity & culture: the Financial Reportng Council report on corporate culture

March 2017 • Event • Driving diversityby New Financial

Upcoming breakfast event to discuss the Financial Reporting Council’s research into corporate culture. We are very pleased to have Anna Colban, one of the authors of the FRC’s report, as our guest speaker. Last year, the FRC undertook an extensive consultation to better understand how companies address culture, to encourage debate and identify good practice […]

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The challenges of diversity data disclosure – diversity breakfast with the SRA

February 2017 • Event • Driving diversityby New Financial

With initiatives such as the HMT Women in Finance Charter and New Financial’s own diversity disclosure research there is ever-growing pressure on financial services companies to disclose more data on diversity. While there are many firms who see the benefits of being open and transparent, there are many common arguments made against disclosure, such as: ‘legal says […]

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