Britain's finance watchdog is leading the way on diversity
The finance watchdog on Tuesday pledged to make sure that 45% of its senior leadership team are women by 2020, and 50% by 2025. The FCA also wants 8% of its senior leadership team to be black, Asian, or minority ethnic (BAME) by 2020 and 13% by 2025. These targets reflect the social makeup of the UK, based on Office of National Statistics figures.
39% of the FCA's senior leadership team are currently women, while 3% of the team identify as BAME.
The targets come after the FCA signed the "Women in Finance Charter" in June, a government-led initiative to promote gender diversity.
FCA CEO Andrew Bailey says in an emailed statement on Tuesday:
"Every day we make judgments and decisions that impact almost everyone in the UK so it's vital that our people reflect the society that we serve. I am proud of the FCA's work to date on diversity. Setting targets for the FCA Senior Leadership Team to be representative of the female and BAME UK populations is a logical next step.
"I believe that we are nothing without our people, and a workplace which combines talented people and diverse backgrounds is the best sort. Encouraging diverse attitudes and opinions in our daily work makes us a stronger and more effective regulator."