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The Chair of the Treasury Committee, has written to over 30 firms in the financial services industry that are yet to sign up to the Women in Finance Charter.
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.
In the letter, Nicky Morgan asks if the firms will be signing the Charter, and if not, their reasons for not doing so.
She said: “The progress of the Women in Finance Charter is to be welcomed. The aim, however, must be to see all firms in the financial sector sign up to the Charter and make a concerted effort to improve their gender diversity, particularly in senior roles.
“As the Charter states, a balanced workforce is good for customers, profitability and workplace culture.
“Huge multi-nationals including Goldman Sachs, JP Morgan and UBS are yet to sign up to the Charter, and if they don’t intend to do so, the Treasury Committee wants them to explain why.”