Policy paper

11:07:16: Quotes from Women in Finance Charter signatories

Updated 12 December 2016

1. Aberdeen Asset Management

Aberdeen Asset Management said:

Diversity is a subject very close to our hearts at Aberdeen, both as an employer and as an investor. As a “buy and hold” fund manager, we know that the best companies draw on the widest pool of talent. So it is important for us that the businesses in which we invest don’t limit themselves, in either the way they recruit, or how they develop their people. This applies to our own business too.

We are committed to building and sustaining a diverse and inclusive workplace. As a global organisation with customers spanning a multitude of countries, cultures and professions, we view diversity as a valuable business asset. Our aim is to ensure that we provide our clients and wider stakeholders with the diversity of thought and creativity necessary to build long term value.

2. Affinity Capital

CEO and Director of Affinity Capital, Emma Davidson said:

If we look back at the greatest partnerships through time, we see diversity of gender, diversity of skill, outlook, views, perspective, experiences. Pushing for gender equality in the financial services industry is in the global interests of future prosperity and growth.

3. Aldermore Group plc

Phillip Monks, Chief Executive Officer at Aldermore said:

We’re pleased to announce our involvement with the HMT Women in Finance charter – an aspiration from the government to see gender balance across the financial services industry. We have a commitment across the Bank to support the progression of women into senior roles and to recognise the need for further diversity within this sector.

As part of our association, we pledge to have at least one member of our senior executive team accountable for gender diversity within the Bank and to set internal targets to ensure there is diversity within our senior management team. We’re continuously looking for ways we can support workplace balance within the Bank and we’re looking forward to working with HM Treasury on this project.

4. Association of British Insurers (ABI)

Huw Evans, ABI Director General said:

Improving our sector’s diversity and inclusion is vital to our future success, not a ‘nice to have’. To meet the fast-changing and increasingly complex needs of our customers, we need to have the most effective possible workforce at all levels to deliver.

The ABI has an important role to play in both helping develop the next generation of industry leaders and in demonstrating best practice ourselves as an employer. Our signing the Women in Finance Charter is a further demonstration of that commitment.

5. Bacs Payment Schemes Limited

Anne Pieckielon, Director of Product and Strategy at Bacs, said:

We are proud to be the first payments organisation to sign up to the Charter. At Bacs, we believe that a balanced workforce is good for business – it is good for customers, for profitability, and for workplace culture. Tackling the gender gap in all its forms is an issue that lies close to our hearts and we welcome the introduction of the Women in Finance Charter; women currently make up just under half of our work force, and we are committed to improving that still further, adopting policies and procedures that support gender equality.

Inequality has no place in 21st century business, and we encourage others in our industry and beyond to follow our lead, and sign up to this important initiative.

6. Barclays Bank Plc

Lynne Atkin, HR Director, Barclays UK and Barclaycard, said:

Barclays is proud to support the launch of the Women in Finance Charter, and will continue to play a leading role in supporting greater progress for senior women in our industry.

Every part of our business is contributing to this agenda, we’ve supported the Davies commission and set out own targets for senior female representation at Managing Director.

7. BNY Mellon

Susan Revell, General Counsel and Chief Controls Officer, EMEA of BNY Mellon said,:

The commercial, social and economic case for gender equality and broader inclusion is widely understood. Concerted efforts from many stakeholders are needed to tackle the progression of female executives in financial services and ensure we not only attract more talented female professionals to our industry, but that they stay in our industry and maximise their exposure, stretch and development opportunities to reach full potential. Only then will we achieve meaningful and sustainable change.

This is why we are proud to sign the Women in Financial Services Charter today. We have seen significant progress, but more can and should be done. BNY Mellon intends to continue advancing this important social and business issue.

8. British Bankers’ Association

Anthony Browne, Chief Executive of the BBA, said:

Banks are committed to ensuring the best people can rise to the top in the industry, regardless of their gender or background.

Significant strides have been made to improve female representation in recent years, but more needs to be done to help talented women reach the top of the corporate ladder, especially when it comes to senior executive positions.

The BBA is supporting the Women in Finance Charter to help ensure the days of the old boys club are numbered.

9. Capital Credit Union

Marlene Shiels, CEO of Capital Credit Union, said:

Capital Credit Union has signed the Charter because we believe gender diversity, particularly in senior managers, makes good business sense. Creating the right culture for women to succeed is a no brainer – you get loyal, multi-tasking, smart women who will go above and beyond when you provide the right environment for them to thrive.

10. Chartered Insurance Institute

CEO of the CII, Sian Fisher said:

The CII’s commitment to enhancing women’s opportunities in the insurance profession is at the forefront of our efforts. A diverse workforce is the key to a customer focused and well balanced profession. Yet it could be argued we are lagging behind others in making a gender balanced workforce a priority. This attitude needs to change; we need to be doing more to take action. The HM’s Treasury’s Charter is a positive step towards achieving a gender balanced workforce and I encourage other employers in the profession to follow suit and pledge.

11. Cicero Group

Judith Becker, Executive Director of Cicero Group, said:

Cicero Group is very proud to be a signatory of this charter from the start and we look forward to setting ambitious targets for the company and working towards achieving them going forward.

12. Circle

Circle said:

Circle is breaking boundaries in the finance sector, exploring ways in which technology can be used to change the way we view, and use money. As a young fast-growing FinTech company, innovation is vital but so too is our passion for people. We want the right people for the job, whatever their gender.

Approximately 60% of people working in financial services are women across 20 global markets, however this figure sadly falls dramatically to 19% when looking at senior level positions. The team at Circle are proud to champion gender equality in the financial workplace, and are committed to ensuring that women are appropriately represented. We are delighted to participate in the UK government’s ‘Women in Finance’ Charter to help drive awareness and showcase both the importance and advantages of women occupying senior managerial roles in the financial service.

13. Collinson Insurance Services Limited

Managing Director of Collinson, David Evans said:

We know that the success of our business is dependent on making the very best use of the skills and expertise of all of our people. We are committed to ensuring that we support and develop women into senior roles in our business and are proud to support this initiative.

14. Columbia Threadneedle Investments

Mark Burgess, Chief Investment Officer EMEA and Global Head of Equities at Columbia Threadneedle Investments, said:

The Charter is an excellent initiative that will drive meaningful, positive change in our financial services industry. We firmly believe diversity is key to our ability to deliver better outcomes for our customers, by avoiding group-think and ensuring we bring a rich mix of talent and perspectives to bear for the benefit of our business and our clients.

15. Credit Suisse

Noreen Doyle Chair, Credit Suisse International and Credit Suisse Securities (Europe) Limited Vice Chair and Lead Independent Director, Credit Suisse Group, said:

Credit Suisse welcomes the recommendations of the Women in Finance Charter and is pleased to pledge support for creating greater gender balance across the financial services industry. Our experience in developing a diversity and inclusion practice at Credit Suisse has shown us that challenges are still faced by our industry; we believe this Charter will encourage long-term changes that are imperative to our collective future success.

16. Deutsche Bank

Garth Ritchie, Head of Global Markets and UK Chief Executive Officer at Deutsche Bank, said:

We strongly support the business case for gender diversity. Our leaders at all levels are expected to foster an inclusive and respectful work environment, where all employees can be themselves and succeed based on merit.

17. Direct Line Group

Paul Geddes, CEO, Direct Line Group said:

Direct Line Group is a firm believer that having a diverse organisation is intrinsically linked to greater productivity and performance, increased innovation as well as better customer understanding. However, we also recognise that further engagement and action is needed across financial services if we are truly going to change the status quo. The Women Finance Charter is a great mechanism to move diversity and inclusion up the boardroom agenda and we are very proud to be working alongside Government and the wider sector to drive this initiative forward.

18. E2W Limited

Tina Freed, Co-founder of E2W said:

As the go to place for women to manage their financial services careers and for financial institutions wishing to claim the Gender Dividend, E2W are delighted to support the charter and to have helped HM Treasury to launch it.

Increasing the representation of women in all stages of their careers is at the heart of the E2W business model and the Charter. There are many compelling reasons for addressing these issues and supporting women in their financial services careers:- it’s good for the economy, it’s good for society, it’s good for business outcomes, but most of all it’s the right thing to do. We are proud of our track record of enabling financial institutions to foster gender diversity across their business and we are proud to enable talented women to secure challenging roles in the sector.

19. Ecclesiastical Insurance

Mark Hews, Group Chief Executive, Ecclesiastical, said:

Signing up to the charter makes complete sense for our business. It reflects Ecclesiastical’s strong values and continuing commitment to equality and fairness. It also helps us to challenge our own position and drive our future commitments. We’re pleased to be one of the first to sign up and would encourage all parts of the financial services sector to follow suit. Initiatives like this help to ensure our industry can continue to be an attractive, challenging, fulfilling and dynamic place to work regardless of your gender, race, religion or background.

20. EY

Tara Kengla, Partner, EMEIA Financial Services, EY said:

As a signatory to the charter, we join arms with other organisations to help build a more balanced industry for the future. United in purpose, the charter brings focus, direction and accountability to help drive real change across financial services. We welcome the opportunity to share our own best practice and to learn from others to accelerate gender equity.

Organisations that live and breathe diversity and inclusion know the positive impact it has on business performance; it delivers competitive advantage. Creating an inclusive environment where everyone can achieve their potential remains firmly front and centre of our business strategy.

21. Handelsbanken

Bernie Charles, Head of UK HR, Handelsbanken

Working with gender equality, diversity and an inclusive corporate culture is a fundamental part of our values. As a decentralised bank built on strong local relationships, it is both responsible and good business sense to reflect as closely as possible the communities we serve.

22. Henderson

Andrew Formica, CEO of Henderson said:

As a global company, we know that a diverse workplace leads to a stronger business for employees, clients and investors alike. The Women in Finance Charter is a step in helping to support the progression of women in senior leadership, alongside the steps Henderson is already taking to improve the gender balance and diversity in our business and industry.

23. Hermes investment Management

Saker Nusseibeh, Chief Executive, Hermes investment Management, said:

I find it absurd that while senior executives may have sympathy with the social case for achieving a greater mix within their businesses, few see it as a necessity for achieving the right balance of growth and risk management. The truth is that companies should be nurturing and growing their pipeline of talent, and with women making up 50 per cent of this possible pool, to ignore them is value destructive.

Evidence shows that corporate boards and ExCos consisting of suitably experienced men and women can better guide businesses. Moreover, women and men approach business differently and their collaboration can lead to greater conversant decisions and judicious risk management. Responsibility is ingrained in our DNA at Hermes, and we are proud to sign the Women in Finance Charter, supporting a balanced and equitably diverse workforce as well as the progression of women into senior role senior roles in financial services.

24. Financial Conduct Authority

FCA Chief Executive, Andrew Bailey, said:

We are proud to have signed the Women in Finance Charter. We have a strong gender profile and believe that a diverse workforce makes us a better regulator and a great place to work. Signing the Charter shows our commitment to equality in the workplace. This specific initiative is about gender but we are committed to diversity and inclusion more generally, which is at the heart of everything we do.

25. ionStar

ionStar said:

ionStar is delighted to support the Women in Finance Charter. Promoting gender diversity not only makes good business sense but is also the right thing to do. As a firm we support compliance professionals who have stepped out of the City, for whatever reason, helping them strike the right work-life balance and creating role models for the next generation. The Women in Finance Charter is an important initiative highlighting the benefits of a balanced workforce.

26. Isban UK

Andrew Pearson, CEO of Isban said:

Isban UK is delighted to be one of the first signatories of the HM Treasury Women in Finance charter. We believe it will help us to attract, retain and achieve the full potential of women in our financial technology sector. Focussing on the equalisation of gender pay and the promotion of inclusion and diversity will improve the success of our organisation - it is fundamental to us being Simple, Personal and Fair.

27. Landbay

John Goodall, CEO & Co-Founder, Landbay:

At Landbay we are still in the early stages of our growth and so it is vital that we take the right steps as we develop our company culture. With this in mind, we whole heartedly commit to gender equality to maintain equal opportunities for women throughout their careers at Landbay and beyond. We commit to taking an open, rational and honest approach to recruitment and promotion to ensure that we hire and retain the best people for the job.

28. Leeds Building Society

Peter Hill, Chief Executive Officer at Leeds Building Society said:

We are proud of our highly engaged colleagues and are committed to achieving an inclusive and diverse workforce for the benefit of current and future members.

Nigel Wilson, Group CEO, Legal and General said:

50/50 by 2020 is our ambitious aspiration that drives our progress towards truly diverse leadership teams across our business. We will continue to use our influence both internally and externally and we are delighted to demonstrate our commitment to the Women in Finance Charter as part of this.

30. Lloyd’s of London

Quote from Inga Beale, Chief Executive, Lloyd’s:

Lloyds is proud to be a founder signatory of the HM Treasury Women in Finance Charter. Diversity should be a business imperative across the UK’s financial services industry and we must lead by example with commitment from the top. I hope that by joining many other prominent organisations in this pledge for gender balance across financial services, we will together see an accelerated and enduring culture change across the industry.

31. London Stock Exchange Group

Xavier Rolet, CEO, London Stock Exchange Group said:

At London Stock Exchange Group we understand a broad, diverse team is essential to deliver the best possible outcomes for our customers.

We are not just signing this charter to signal our ongoing commitment to equality in the work place but also to actively challenge both ourselves and others in the financial sector to keep addressing these issues.

Partnering with HM Treasury to be completely transparent in our efforts is a vital move to ensure the UK finance sector makes real progress.

32. Market Harborough Building Society

Mark Robinson, CEO Market Harborough Building Society:

Our Building Society has been built on fairness and signing the Women in Finance Charter was an easy decision. Diversity adds to our business and we are committed to that.

33. MasterCard UK and Ireland

Mark Barnett, President of MasterCard UK and Ireland said:

Championing diversity and empowering women is part of our DNA at MasterCard. The gender imbalance in the technology sector is particularly acute, with women occupying only 1 in every 4 roles in the sector, so we are proud of the achievements we have made and 40% of our workforce being female. However there is more we can do to create more women leaders at MasterCard and by signing up to the Women in Finance Charter we will continue to focus on building a gender diverse group of leaders from a wide variety of backgrounds, experiences and viewpoints.

34. MetLife UK

Dominic Grinstead, Managing Director of MetLife UK, said:

HM Treasury’s Women in Finance Charter is an important initiative and MetLife is committed to supporting the drive to enhance gender diversity in the industry as one of the first signatories.

MetLife works hard to be known as a diverse and inclusive company that attracts, develops and retains the best talent globally. With more than 69,000 employees in nearly 50 countries around the globe, creating a diverse and inclusive workforce is critical to our business.

Significant progress has been made by women in financial services but it is vital that the industry continues to highlight best practice and acknowledge success so we can support further progress on diversity and inclusion.

35. Mizuho Bank

Teiji Teramoto, Managing Executive Officer Head of EMEA, Mizuho Financial Group, Inc said:

Mizuho Financial Group recognises the value of Diversity and has a declared intent to be at the forefront of diversity and inclusion initiatives in every country in which we have a presence. We are committed to actively incorporating global best practices, eliminating possible boundaries and barriers to full participation in the workforce, and creating a work environment that encourages our staff to inspire each other to go beyond their boundaries.

In Mizuho in the UK, these initiatives include signing up to the HM Treasury “Women In Finance Charter”, a pledge for gender balance across financial services. We have adopted the commitments in the Charter and aim to improve gender diversity at senior levels and work with other organisations across the sector. We recognize the advantages of harnessing this diversity and leveraging the capabilities of a more diverse workforce by creating a truly inclusive environment, in which increased inclusion benefits not only the company, but also the economies and communities where Mizuho is represented.

36. Mizuho International

Michiel de Jong, President & CEO of Mizuho International plc said:

Mizuho International is proud to be a founding signatory to HM Treasury’s Women in Finance Charter, and strongly supports the business case for gender equality and value diversity as an integral part of our growth strategy . As a UK subsidiary of a Japanese investment bank, we look forward to playing our part in contributing positively to help drive genuine change in the financial services sector.

37. Morgan Stanley International

Robert Rooney, CEO of Morgan Stanley International and Head of Morgan Stanley EMEA said:

We are pleased to be signing the Women in Finance Charter, which is an important initiative on the road to building a more balanced financial services industry.

Strengthening female representation at the executive and mid-tier level is a strategic priority for the firm and we look forward to working with other signatories to share insights and best practice.

38. NHBC

Mike Quinton, NHBC Chief Executive said:

I am delighted to pledge NHBC’s commitment to the Women in Finance Charter.

As the UK’s leading warranty and insurance provider for new homes, achieving gender balance at all levels of our organisation is not only good for our staff, it’s good for business and for our customers too. As the Charter sets out, we are committed not only to supporting the progression of women into senior roles and developing a pipeline of talent, but also to setting internal targets and reporting on progress in this important area.

39. Nationwide

Alison Robb, Nationwide Group Director for People, Customer & Commercial said:

As a mutual Building Society, Nationwide is passionate about being guided by our values, and as a result already has twice the average senior female representation in the financial services sector (28%). We welcome the Charter as a way to build more momentum behind this agenda.

40. NEST Corporation

Helen Dean, CEO of NEST, auto enrolment pension provider said:

The Women in Finance Charter is a very important initiative and I am pleased that NEST will be playing its part in helping create a gender balance, at all levels, across financial services. The decision to sign the Charter was an easy one for NEST. That’s not to say we entered into it lightly but it felt obvious to me and the NEST leadership team that we have a responsibility to promote equality and diversity here at NEST. Not only does it create a fair working environment but it’s also good for business which in turn, is good for our members and customers.

41. Nottingham Building Society

David Marlow, Chief Executive of The Nottingham said:

At The Nottingham we are justly proud of our current position on diversity and inclusion that has been achieved over many years. Our Senior Management composition reflects our staff, customers and wider communities and, in signing the Women in Finance Charter, we pledge to continue to focus and invest in this area across our whole business.

42. Phoenix Group

Jim McConville, Group FD and Executive Sponsor of Phoenix’s Diversity and Inclusion programme said:

At Phoenix, our people are critical to the success of our business and we are committed to ensuring there are no barriers - real or perceived - preventing anyone from progressing as far as their talents, drive and ambition will allow.

43. Principality Building Society

Graeme Yorston, CEO of Principality Building Society, said:

We are delighted to sign the Women in Finance Charter. We see this as a positive step to achieving a balanced workforce and by making diversity a business issue will bring a new level of focus to drive change. A diverse workforce will not only enhance our service to our customers but also create the right culture to enable all colleagues to reach their full potential. We continue to take positive steps to ensure that women are representing our business at all levels, from clear succession plans for more senior roles to promoting careers in financial services to the next generation of talent.

44. Progressive Building Society

Darina Armstrong, Chief Executive of Progressive Building Society said:

Progressive Building Society is committed to, and fully supports, the Women in Finance Charter. We firmly believe in maintaining a healthy gender balance at all levels throughout the Society which not only offers many benefits to our Members, but also strengthens the Society’s workplace culture of diversity and inclusiveness.

45. Prudential plc

Penny James, Group Chief Risk Officer of Prudential plc, said:

We are delighted to sign the Women in Finance Charter which will complement our existing initiatives designed to increase diversity in our senior management.

46. PwC UK

Kevin Ellis, chairman and senior partner at PwC, said:

We are proud to have signed the charter and support the focus and accountability it will bring to help change the gender balance in financial organisations. We are committed to equality in the workplace and see diversity as a business imperative – it leads to better business decisions and creates an environment where everyone can reach their full potential.

47. Santander UK

Vicky Wallis, Director of HR at Santander UK said:

We’re focused on making Santander an inclusive and truly diverse employer through awareness and education, aligning our talent and diversity strategies, providing peer-to-peer networks and encouraging flexibility. Over 90% of our people believe we understand and appreciate diversity among employees. And we firmly believe this needs to be led from the top. Which is why I’m delighted that we’ve shown our commitment to diversity and inclusion by signing up to the HM Treasury’s Charter on Women in Financial Services.

48. Schroders

Peter Harrison, Group Chief Executive of Schroders said:

Diversity of thought is critical to success in modern business. At Schroders we are going a step beyond simply saying that it is important. Signing the Women in Finance charter is one action that enables us to continue to develop a more diverse organisation.

49. South Manchester Credit Union

Sheenagh Young, Manager of South Manchester Credit Union said:

Our Board of directors and staff are delighted to support the HM Treasury Women in Finance Charter. Credit unions have a strong record in gender parity. Many credit unions have a female CEO and there is growing female representation on credit union Boards of Directors.

50. Standard Chartered

Bill Winters, Group Chief Executive of Standard Chartered said:

Standard Chartered fully supports the Women in Finance Charter. Gender diversity and inclusion is fundamental to delivering on our brand promise, Here for good. We are committed to work together to ensure we have an industry where women feel included and where they can contribute their best. By building a more balanced workforce, especially at more senior levels, we are also enabling the industry to unlock innovation and better manage risk.

51. Standard Life

Keith Skeoch, Chief Executive, Standard Life said:

In signing this Charter we’re taking another important step towards our goal of creating a diverse leadership population and talent pipeline. At Standard Life we believe it’s important to have a fully diverse workforce and we have been taking positive steps to break down barriers where they exist. That’s why we’re pleased to be joining other leading organisations in supporting the Women in Finance Charter. We’re looking forward to working together to make a sustained difference.

52. Sturgeon Ventures LLP

Seonaid Mackenzie Founder and CEO of Sturgeon Ventures said:

Sturgeons is delighted to be an early adopter of the Women’s Charter to encourage more women into financial services. Our team is already more than 50% female and we recognise the economic benefits of employing women at all levels of our business.

53. The Co-operative Bank Plc

Laura Carstersen, Chair, Values and Ethics Committee, The Co-operative Bank, said:

As a bank defined by its distinctive values and ethics, grounded in its co-operative heritage, The Co-operative Bank is delighted to be one of the first signatories of the Women in Finance Charter. We are committed to further improving gender diversity at all levels of our organisation, from our high street branches to the board room. The Charter will help ensure that our entire industry plays its part, improving opportunities and progression for talented women and ensuring that talent rises to the top in the finance sector regardless of gender.

54. The Co-operative Credit Union

Chris Smith, President of The Co-operative Credit Union said:

The Co-operative Credit Union is delighted to be a signatory to the Women in Finance Charter.

We are committed to creating an inclusive and supportive workplace environment for all employees and board members to enable them to meet their full potential.

We believe that this is not only the right thing to do, but is vital for the ongoing success of a co-operative business and this can only be good for all – our members, our staff and our directors.

We hope that many firms will sign up to the Charter, as moves towards gender diversity will be a move towards progress for all.

55. The Royal Bank of Scotland

Marjorie Strachan, Head of Inclusion at RBS commented:

We’re delighted to be signing up to the Women in Finance Charter. Ensuring more women are represented at senior levels in business is an issue I feel passionately about. That’s why we have set targets to have at least 30% women in leadership roles by 2020 in every one of our franchises and we’re aiming for full gender balance in all areas of our business by 2030. Creating more diverse teams brings clear advantages to business performance and supports our ambition to become the #1 bank for service, trust and advocacy by 2020.

56. Thomson Reuters

David Craig, president, Financial & Risk at Thomson Reuters said:

We need to continue to manage the flow of talent to the top of the organisation so that it properly reflects the diversity of the society we inhabit and the customers we serve. It isn’t about meeting gender targets today – it’s about creating an environment, a culture, which attracts and retains the best people because it offers them the opportunity to succeed and to excel, it’s about an open and inclusive culture that drives better performance.

57. TSB

TSB said:

We’re delighted to see the important issue of women in finance fixed firmly on the Government’s agenda. TSB is focused on achieving a gender balanced culture for the long-term and has sought to create an inclusive culture since launching onto high streets in 2013.

We welcome the spirit of the charter and support the work HM Treasury is doing to drive greater gender balance across financial services.

58. Unum

Unum’s Human Resources Director, Liz Walker, welcomed the Charter and highlighted the ethnical and business reasons for promoting gender equality in financial services:

Unum is absolutely committed to building a more equal workforce. Signing the Charter is a great opportunity to share what we are doing and learn from other companies so we can do even more. I urge those yet to sign the Charter to do so and promote gender equality in their own companies. Fairer and more equal companies are without doubt more successful and we have a responsibility to our communities and clients to lead the way.

At Unum we will be setting additional internal targets which the Women in Leadership programme will help us meet. Presently, we feel we are doing better than average for financial services, but we are striving for further improvements still.

59. West Bromwich building society

Jonathan Westhoff, Chief Executive of the West Brom building society said:

At the West Brom we fully support the diversity agenda and are committed to initiatives designed to help accelerate our progression towards a truly diverse workforce.

Not only is increased diversification positive for those who work here, it also gives a far better reflection of the wide range of customers we serve on a daily basis. Our participation in the Women in Finance Charter complements this broader diversity ambition and is a welcome addition to our strategy.