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.
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 […]
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 […]
Setting targets to improve diversity in asset management – breakfast with Jackie Turpin, Joseph Rowntree Charitable Trust
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 […]
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.
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 […]
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.
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.
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 […]
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 […]
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 […]
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 […]
The financial services industry has the widest gender pay gap of any sector in the UK and many firms are concerned that the number they have to publish next year won’t look pretty . This breakfast discussion with Sam Smethers, chief executive of The Fawcett Society, will explore what drives the gender pay gap in financial […]
The HM Treasury Women in Finance Charter, launched in March this year, is a call to action for better gender diversity in financial services. New Financial’s latest report, produced in collaboration with HM Treasury, analyses the submissions from the first wave of Charter signatories to establish the starting point for levels of women in senior management today, the targets signatories are aiming for – and how they plan to achieve them.
Gender balance in UK financial services has leapt up the agenda since the government asked Jayne-Anne Gadhia, chief executive of Virgin Money, to lead a review of women in senior management, and launched the HM Treasury Women in Finance Charter in March 2016. The first 71 firms to sign the Charter made their submissions both […]
Here is a selection of recent academic papers and speeches on pay and diversity that we have read, sifted and translated so that you don’t have to. This selection includes research on why the problem with executive pay could be worse than you think; a history of executive pay since the 1930s; how stock awards reduce systemic risk in banking; the limitations of ‘say on pay’; how social networks between analysts and fund managers affect their investment decisions (and why female board members in Singapore play golf); and why the financial services industry needs to address diversity.
The Gadhia Review and HM Treasury’s Women in Finance Charter have pushed gender diversity in the financial services industry back up the agenda. The latest workshop in our diversity breakfast series will focus on how some of the principles outlined in Jayne-Anne Gadhia’s report can be applied to to other areas of diversity beyond gender. Simon Fillery, […]
Gender balance in UK financial services has leapt up the agenda since the government asked Jayne-Anne Gadhia, chief executive of Virgin Money, to lead a review of women in senior management, and launched HM Treasury’s Women in Finance Charter. New Financial’s latest report looks at the context of the Gadhia Review and the Charter and discusses how the industry can engage with these initiatives as an important stepping stone towards permanent, sustainable change.
Due to overwhelming demand we are re-running this diversity breakfast to discuss implementing the recommendations of the Gadhia review into women in financial services, and what it means to be a Women in Finance charter signatory. It will include discussion of the following themes: Signing the charter – How have the Gadhia recommendations been received […]
This latest event in our diversity breakfast series is to discuss implementing the recommendations of the Gadhia review into women in financial services, and what it means to be a Women in Finance charter signatory. It will include discussion of the following themes: Signing the charter – How have the Gadhia recommendations been received in […]
New Financial’s data on UK financial services commissioned for the Gadhia review shows the industry has a long way to go to improve gender diversity.
When it comes to gender diversity, we all know that the capital markets industry is starting from a low base. But the latest report by New Financial on female representation on boards and executive committees at 220 organisations across 11 sectors in European capital markets shows that the numbers are beginning to move in the right direction.
This workshop will focus on the second annual study published by New Financial of gender diversity at a senior level in the European capital markets industry: Counting Every Woman 2015. This year the research covers diversity on boards and executive committees on boards and executive committees at more than 200 organisations across 11 different sectors of […]
In summer 2015, the UK government commissioned Jayne-Anne Gadhia, chief executive of Virgin Money, to conduct a review of gender diversity in financial services (full details of the review can be found here). In November, she presented her initial three proposals: – Setting and disclosing targets for diversity – Setting a strategic plan for improving […]
Diversity disclosure is an important statement of intent – a recognition that the capital markets industry is starting from a difficult position on diversity but wants to change, and is capable of change. It could be an important step towards improving diversity in European capital markets, which in turn could play an important role in driving […]
Diversity disclosure is an opportunity for the European capital markets industry to get ahead of regulation, signal that it is serious about cultural change and inform the debate with facts rather than anecdotal evidence. The latest report from New Financial analyses what the biggest companies and organisations across the financial markets tell us about their approach to diversity on more than 50 criteria.
The last workshop in New Financial’s diversity breakfast series looks at the issue of inclusion and how market participants need to ensure they have the right balance between ‘diversity’ and ‘inclusion’. The discussion will focus on: – What is ‘inclusion’ and why is it important? – How does inclusion fit with diversity? – What are […]
Addressing diversity in the capital markets could be an important way for the industry to show that it is willing to embrace change and take steps to improve its culture – before it is forced to do so by regulators.
The European capital markets industry risks losing its competitive edge if it doesn’t embrace the importance of gender diversity. The latest report from New Financial takes a snapshot of female representation on boards and executive committees at 220 organisations across 11 sectors in the financial markets – with some predictably depressing results.
In the wake of the financial crisis, more and more senior women in finance seem to have decided that the trade-offs that used to make sense are no longer worth it. This could reverse a lot of the progress in gender diversity that the industry has made over the past few years.