HMT Women in Finance Charter - Why Signing Matters
Virgin Money's recent survey of women in the UK's financial market revealed that only 50% of women, compared to 70% of men, believe they have an equal opportunity to advance regardless of their personal characteristics or circumstances. New Financial's sample of 200 firms active in UK Financial Services showed an average of 23% female representation on Boards, but only 14% on Executive Committees. While these statistics are compelling, they are not surprising to anyone who has worked in the UK's financial services sector, where women are present within the mid-tiers, but remain largely absent in more senior positions.
Whilst it is critical to avoid 'box-ticking' or positive discrimination within the hiring and promotions process, it is the responsibility of the UK's financial services sector to actively seek the cause of this disparity and create an internal structure that supports the encoragement of talented individuals, regardless of gender or other personal differentiating factors. It was deemed that firms big and small require a set of standards and company-wide objectives to support the healthy integration of women within senior roles. Subsequently, the HMT requested the financial services sector to sign to the Women in Finance Charter, which to date has gathered 122 signatures and associated committments to support internal diversification.
As Zerado's CEO and COO roles are filled by women with significant backgrounds in the financial services space, this is a cause we greatly endorse and would strongly encourage others to sign up to. We will be co-hosting a breakfast on the 5th of July 2017 in partnership with Virgin Money, for exisitng and potential Fintech signatories to discuss the charter itself, how it can be best structured to serve smaller organisations, and how the importance of this message can be best communicated to the broader fintech community. If you represent a fintech company and would like to attend this breakfast or discuss your engagement with the Charter, please message firstname.lastname@example.org.
Zerado's committment to the Charter: Continued balance of over 40% senior leadership roles held by women from 2017 - 2020