It was revealed during the annual review of the HM Treasury Women in Finance Charter that the scheme can now boast of having 800,000 financial services employees representing 330 signatories.
A year ago, in March 2017, this number stood at 500,000 and 122, respectively.
The review was hosted by the City of London Corporation and employed a variety of high-profile speakers, including the UK government’s women in finance champion Dame Jayne-Anne Gadhia, HM Treasury director of financial services Gwyneth Nurse, and city minister John Glen MP.
The report shows that 45 per cent of signatories have met or exceeded their targets, while 42 per cent more are set to do so within the required reporting period.
Glen enthused over these figures in his opening speech, but added, however, that financial services retains the feel of “a boys’ club”, going on to iterate the importance of men in driving the agenda.
It must be noted that these figures concern the 123 signatories who signed the charter before September 2017 and who provided a report in September 2018.
The report also shows that, in order for meet their representation targets, 2,500 women would have to join the ranks of senior management across the 123 signatories – a 12 per cent increase – which the charter describes as being “achievable”.
Gloomier news was that 46 per cent of signatories had not published an online update by the required deadline, and that just 29 per cent of those who did met all of the reporting criteria.
In total, there are 17 UK banks, seven building societies, and two mortgage industry-focused fintech companies signed up to the charter.
Gadhia, in her closing remarks, described the outcomes of the review as “thrilling”, before adding that, “the charter isn’t about accelerating women necessarily; it is about treating everybody equally and succeeding together.”
Also in attendance was Brightstar director of people development Clare Jupp, whose company is one of the 45 per cent to have hit its targets. She comments: “I was delighted to attend this prestigious event.
“We continue to work tirelessly to drive change within our own organisation and across the sector and I am passionate about the intentions of the charter and achieving its aims.
“As both Glen and Anne alluded to, an inclusive workforce is better for business and customers. Therefore, I urge organisations from across the sector to make the pledge and sign the charter.”