Women in Senior Management

Women in Senior Management

Women in Senior Management

Financial services bosses hold ‘speed mentoring event’ to advise women on how to reach senior management level

As part of the Government’s Women in Finance Charter initiative, 40 senior managers from the financial services industry met 40 aspiring young women, all starting out on careers in the industry, at an innovative ‘speed mentoring’ convention at the London Stock Exchange in December. The managers gave advice to the ambitious young women on how best to advance their career in a series of short face-to-face one-to-one sessions.

The managers who took part in the event are all from firms who have signed up to the Charter, and included representatives from Credit Suisse, Deutsche Bank and HSBC.

At the present time, only 23% of directors and just 14% of holders of executive positions in the finance industry are women. However, signatories to the Charter are committed to setting targets for the percentage of the senior management team that are women, and to linking the remuneration of the senior management team to the progress made towards these targets. One of the goals of the Charter is to increase the proportion of women in senior roles by 40% over the next five years.

93 firms that collectively employ 20,000 people between them have signed up to the Charter.

Jayne-Anne Gadhia, Chief Executive of Virgin Money, has been appointed by the Government to lead the Women in Finance initiative and she said of the event:

“It is important that the next generation of women working in finance have the opportunity to break the glass ceiling and get to the top.

“Achieving a balanced workforce at all levels in financial services will undoubtedly improve culture, profitability and productivity and I am delighted to see so many positive role models here today to mentor and encourage women just starting out with their careers.”

Simon Kirby MP, Economic Secretary to the Treasury, said:

“It is fantastic that so many senior leaders in financial services have given up their time to take part in our speed mentoring event.

“Today proves these firms are not just paying lip service to the Women in Finance Charter but are living its values and actively working to help the next generation to climb the ranks.”

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