HM Treasury Women in Finance Charter – latest report by New Financial

Gender balance in UK financial services has leapt up the agenda since the launch of the HM Treasury Women in Finance Charter in March 2016. We worked with HMT to analyse all 71 submissions across the Charter principles. This report establishes a starting point for levels of women in senior management today, the targets signatories are aiming for, and how they are using the Charter principles to achieve those targets.

The highlights of the report are:

  • The first wave of signatories to the HM Treasury Women in Finance Charter are starting out with average female representation in senior management of 27%, and are aiming to hit 35% over the next three to five years.
  • The starting point for signatories today ranges from 10% up to 47%* for senior female representation. Half of signatories currently have between 20% and 40% of senior roles held by women, and 10 already have parity or more women than men in those roles.
  • There is a wide range in ambition amongst signatories. Targets range from 21% to 50%* with 15 firms aiming for at least 50% female senior management over the next five years.
  • There are clear differences by sector, ranging from a starting point of 23% female management at global banks and asset managers, up to 36% for professional services firms. Banks have set the most ambitious targets relative to today’s levels, aiming for an increase in senior women of more than 40% over the next five years.
  • Company size also has an impact. Medium-sized companies face the steepest climb – firms with 500 to 1000 employees aim to increase the level of women in senior management by nearly 50% on average.
  • Two-thirds of signatories have named men as their executive accountable for diversity and inclusion actions, and nearly half have named their CEO.
  • Nearly three-quarters of the first wave of signatories indicated a timeframe for their proposed target for women in senior management, with 60% aiming to reach their targets over the next three years.
  • Incorporating gender diversity targets into bonus awards or as part of a balanced scorecard approach are the most common ways of linking targets to manager’s pay, with more than 60% tying targets to bonuses and nearly half using a balanced scorecard.
  • A fifth of signatories (15 firms) have already met or exceeded their targets. For them, being a Charter signatory is a means of publicly showing their commitment to gender diversity and sharing best practice.

(*excluding firms that have already met or exceeded their targets)
If you would like to read the full report, please download the pdf here:
 

HM Treasury Women in Finance Charter Report
HM Treasury Women in Finance Charter Report

Sturgeon Ventures Compliance Consultancy 2020

Sturgeon Ventures – Compliance Consultancy of the year – UK

Leaders in Law recognised Sturgeon Ventures' expertise by awarding them their Compliance Consultancy of the Year - UK.  This award is part of its Global Awards Winners 2020 programme. (more…)

Possible Consequences of the Unauthorised use of Third Party Logos

Possible Consequences of the Unauthorised use of Third Party Logos

Sturgeon Ventures (Sturgeon) contacted Womble Bond Dickinson to discuss the possible consequences of the unauthorised use of third party logos in the advertising and promotion of a UK business or

Lawyers Worldwide Awards announced that Sturgeon Ventures have been awarded Start-up Compliance Consultancy of the year - UK.

Sturgeon Ventures awarded Start-up Compliance Consultancy of the Year – UK

Lawyers Worldwide Awards announced that Sturgeon Ventures have been awarded Start-up Compliance Consultancy of the year - UK. (more…)

FCA FSMA and Trade Marks and trading names

Company names, trading names and trade marks 

Sturgeon Ventures, after noticing an increase in the number of Financial Conduct Authority (FCA) Regulated Firms which have adopted trading and/or registered company names which are the same as those

Sturgeon Ventures signs PRI

Sturgeon now a signatory of the PRI

Sturgeon Ventures is delighted to announce that it is now a signatory to the Principles for Responsible Investment (PRI).  We are joining more than 2,000 other organisations around the world

Sturgeon’s Easter Message

The Easter egg is normally a symbol of new life, creativity, change and hope.  We think of our clients and community as part of the Sturgeon Family. (more…)

Shortlisted as one of three finalists for The Lifetime Achievement for Contribution to the Compliance Community at The Women in Compliance Awards

Shortlisted as one of three finalists for The Lifetime Achievement for Contribution to the Compliance Community at The Women in Compliance Awards

(more…)

Agile working at Sturgeon Ventures

Sturgeon Ventures share their top tips for agile working

Sturgeon Ventures have championed agile working and remote working since their inception in 1998. Over the past couple of weeks, we haven't been holding our team meetings on a Wednesday,