Gender, finance and boards

The Government has announced that there are now over 800,000 employees in the UK are now covered by the Women in Finance Charter, with 30 new companies signing up to the plan.

Vitality, Skipton Building Society, and Commerzbank AG are amongst the firms signed up to the Charter, taking the total number of businesses signed up to over 330.

The announcement marks the launch of the second Women in Finance Charter Annual Review, which shows that female representation in senior management at firms who have signed up to the charter is rising, with 86 per cent of signatories having either increased or maintained the proportion of women in the top jobs. The Review also shows that the Charter is holding firms to their promise, with 87 per cent of signatories on track or already have met their targets.

However, at the same time, the Investment Association (IA) has written to 69 FTSE 350 companies, questioning the lack of gender diversity on their boards.

The letter was sent to companies where there are none or only one woman on the board, including Dominos Pizza, Stobart Group, and Rank Group, as well as a large number of financial services companies and other funds. The letter follows the announcement in February that IVIS, the IA’s voter information service, would name and shame such companies.

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