UK Finance Makes “Great Strides” in Female Representation

HM Treasury’s 2022 Women in Finance Charter report has revealed that average senior female representation across signatories increased to 35% last year, up from 33% in 2021. Of the 235 assessed signatories, 77% have either increased (71%) or maintained (6%) their proportion of women in senior management, the report said, adding that half of those assessed have set a target to increase their firm’s representation of women to at least 40%. HM Treasury noted that, for the first time since the Charter’s creation in 2016, the top quarter of firms (52) have already achieved at least 40% representation in senior management, representing “great strides” in progress. “A 2% improvement is encouraging, but we have to move beyond that and soon if we are going to make lasting change,” said Amanda Blanc, Group CEO at Aviva and Women in Finance Champion. “The signs are good, and what is hugely encouraging is to see leaders being held accountable for the levels of diversity in their business and that data is finally being allowed to flex its muscles on this issue.” The Women in Finance Charter was launched to encourage the financial services industry to improve gender balance in senior management. It currently has more than 400 signatories, including HSBC, Aegon Asset Management, and Schroders.  

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