The Investment Association signed the Women in Finance Charter in February 2017. The Women in Finance Charter is sponsored by HM Treasury and is a pledge for gender balance across financial services.
The senior management team at the IA currently comprises 62.5% female to 37.5% male ratio. The IA aims to ensure this figure does not drop below 40% female representation over the next five years. The IA will publicly report annually on progress to deliver against this target.
Chris Cummings, CEO, is accountable for gender diversity and inclusion at the IA.
When the Investment Association signed up to the Women in Finance Charter in February 2017, its senior management team comprised of 46% women (7 men and 6 women). The organisation has grown by approximately 30% since then (from 63 to 83 employees at 19 September 2018). Line management responsibility has been distributed further across the business with this growth and the senior management team now comprises 62.5% women (15 women and 9 men), which is representative of a workforce which is 61.4% women.
We believe we are on track to meet our Charter target by our deadline.
The Investment Association (IA), the trade body that champions UK asset managers, is committed to creating a diverse and inclusive UK investment and savings industry at all levels. This starts with ensuring that we follow these principles in our own business.
Gender pay gap reporting obligations came into force in 2017 requiring UK companies with 250 or more employees to report their gender pay gap for salaries and bonuses. This requirement is aimed at encouraging the UK’s larger employers to actively work to reduce the pay gap in their workforce, which is often due to an imbalance in gender diversity across the organisation and particularly in the most senior jobs.
We know that this is important. As investors in UK listed companies, we see first-hand that more diverse organisations are often more effective ones. And as the trade body that represents the asset management industry, we consider it the right thing to do to voluntarily publish our own gender pay gap when many of our members need to do so.
Although the IA is significantly smaller than organisations which are required to publish this information (with 69 employees as at 5 April 2018) we firmly believe that greater transparency is an important step in helping to drive change and increase gender diversity.
Please see IA's GPG data and report here.
The Investment Association is the trade body that represents UK investment managers. Our 200 members collectively manage over £7.7 trillion on behalf of clients in the UK and around the world. We promote UK investment management, which is the largest industry of its kind in Europe and the second largest in the world.History of the IA
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