AAT has beaten the ICAEW to become the first accountancy body to sign up to the government’s women in finance charter, as the Treasury announces almost half of UK financial services staff are now covered by the pledge for signatory firms to work together to help build greater gender balance
On the first anniversary of the charter, the Treasury said 122 firms, employing over half a million people in the UK, have now signed up.
The latest signatories include retail banks such as CYBG, payment firms such as VocaLink, global banks such as the Royal Bank of Canada, insurers like Ageas UK, and other firms including Pinsent Masons law firm and NS&I, while Bank of America Merrill Lynch is the latest firm with headquarters in the US to make the commitment.
Financial firms pledge to commit to four industry actions to build the female talent pipeline for leadership positions. Since the charter launched, 77 financial services firms have committed to have at least 30% women in senior roles by 2021 and 23 firms have committed to a 50/50 gender split in senior roles by 2021. New signatories will announce their targets in June.
Olivia Hill, chief HR officer at AAT, said: ‘We are proud to be the first accountancy body to have signed the women in finance charter. AAT has been at the very heart of encouraging gender diversity across the accountancy and finance profession and through signing, we are demonstrating our ongoing commitment to this important cause.’
With women comprising over two thirds of AAT’s 140,000 members worldwide, the organisation has been a leading voice in calling for the promotion of gender equality in business. In October 2016, AAT held a roundtable event to discuss how employers and employees could collectively tackle the gender pay gap, from which a white paper was produced.
Baroness Neville-Rolfe, commercial secretary to the Treasury, said: ‘The women in finance charter offers the chance to increase diversity of thought and for the financial services sector to better reflect the society it serves. This is why I encourage firms across the UK to step up and sign the charter.’
On 29 June the Treasury, in partnership with GrowthBusiness.co.uk, What Investment magazine and Virgin Money, will launch the inaugural women in finance awards at The Savoy in London. The awards will celebrate the individuals and organisations who are leading change by driving the gender diversity agenda in financial services.
The ICAEW is currently reviewing the charter.
How employers and employees can tackle the gender pay gap: a white paper from AAT is here.
The women in finance charter is here.
