Banks given until Friday to detail commitments to Women in Finance Charter
Conservative MP and Treasury Select Committee chairwoman Nicky Morgan has written the following letter to 33 financial services firms:
"The Treasury Select Committee launched an inquiry into Women in Finance on 19 October 2017. As well as exploring the barriers women entering and progressing their careers often face in the financial services industry, the inquiry also considers the success of the HMT's Women in Finance Charter in securing signatories and improving financial firms' recruitment and other practices.
"The Women in Finance Charter has so far achieved 162 signatories as of November 2017. Estimates by HM Treasury suggest that these signatories represent over 600,000 employees in the industry, which is around half of the employees in the financial services sector. This progress is to be welcomed. However, the aim must be to see all firms in the financial sector sign up to the Charter and to make a real effort to improve their gender diversity, particularly in senior roles.
"The Committee understands that your firm has yet to sign the Women in Finance Charter. I would be grateful if you could write to the Committee by 16 February 2018, setting out whether you will sign the Charter with the next cohort of signatories and if not, the reasons why you are not signing up to this initiative.
"This letter and your response may be placed in the public domain."
Mrs Morgan's letter was sent to the following financial services firms:
- AIG Europe
- JP Morgan Asset Management
- Aspen Insurance UK Ltd
- Liberty Mutual Insurance Europe
- BNP Paribas
- British Arab Commercial Bank
- Metro Bank
- NFU Mutual
- Chubb European Group
- Close Brothers
- QBE Insurance
- Coventry Building Society
- UBS Asset Management
- Currency Cloud
- Vanguard Asset Management
- Wellington Management International
- Etoro UK
- WorldRemit Ltd
- XL Catlin UK
- Goldman Sachs Asset Management International
- Zopa Ltd
- Invesco Perpetual