MPs pressure City firms over gender diversity

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Town firms including giants Goldman Sachs and JP Morgan have been buzzed on to sign a gender diversity pledge which was first published in 2016.

Funds committee chair Nicky Morgan has written to 33 financial assignments firms who have yet to sign up.

She has asked the companies to confirm to the committee by Friday if they script to join the initiative, or explain why they have decided not to do so.

Many of the firms verbalized they support the initiative to promote women.

The charter, which was proclaimed by the Treasury, commits firms to promoting women to senior positions, to be limpid about achieving diversity targets, and to have at least one executive in instruction of diversity.

«The progress of the Women in Finance Charter is to be welcomed. The aim, however, should be to see all firms in the financial sector sign up to the charter and make a concerted stab to improve their gender diversity, particularly in senior roles,» Mrs Morgan mean in a letter.

«Huge multinationals including Goldman Sachs, JP Morgan and UBS are yet to join up up to the charter, and if they don’t intend to do so, the Treasury committee wants them to palliate why.»

Diversity pledge

The BBC understands Goldman Sachs intends to sign up.

The bank give the word delivered it was «committed to promoting diversity and inclusion at all levels of the firm».

«It is critical that we trainee and retain a diverse group of people who bring a broad range of experiences, abilities and perspectives to our organisation.

«Our participation in the Women in Finance Charter is one element of this broader commitment,» a Goldman Sachs spokesperson replied.

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JP Morgan said it supported the charter’s goals of the qualify and it was considering signing up. «We are in discussions and making good progress,» a spokesperson for the fast said.

UBS said it supported the charter in principle and had taken a number of steps to inspire gender equality in the firm.

«For global firms, any charter focused on one state brings limitations and adds complexity,» a UBS spokesperson said.

«Nevertheless, we are looking at signing the UK charter and remain extremely committed to supporting gender similitude.»

Other firms said they were in the process of signing up, comprising BNP Paribas, Metro Bank, and NFU Mutual.

Bupa said it was looking at the compact «with a view to becoming a signatory».

More than 160 companies with assorted than 600,000 employees in the financial services industry had signed up to the hire by November.

About 50% of the industry’s workforce is currently covered by the right — including pledges from firms including Standard Chartered, Trust Suisse, Morgan Stanley International and Deutsche Bank.

The Treasury voted it was «working hard» to get more firms to sign up to the charter.

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