Treasury Committee launches inquiry into Women in Finance

The Committee hopes to identify barriers to women entering and progressing in the financial services industry and examine the value to firms of having greater gender balance across all job grades and functions.

The Committee will also scrutinise the role of Government and financial regulators in acting as role models for good gender diversity practices.

The first evidence session of this inquiry will be on Tuesday 24 October with Jayne-Anne Gadhia, the Chief Executive of Virgin Money and Government Women in Finance Champion.

Commenting on the launch of the inquiry, Nicky Morgan, Chair of the Treasury Committee, said: “More women than men are employed in the financial services sector, but female representation at senior levels has been historically low.

“Gender diversity across job grades and functions delivers benefits to firms, society and the wider economy.

“As part of this inquiry, the Committee will scrutinise the progress of the Treasury and firms against the Women in Finance Charter.”

According to research conducted by think tank New Financial in July, 62% of firms who signed up to the Charter have taken specific action to support female career progression including succession planning, examining hiring practices and unconscious bias training.

Over a quarter of the signatory firms who have published their diversity targets are committed to a 50/50 gender split in senior roles, and have set a date to achieve that target.