LONDON (Reuters) – Britain’s finance ministry wants more ambitious diversity targets at financial firms as the pace of hiring women to top jobs is too slow, a review said on Tuesday.
A Women in Finance charter was launched in 2016 by the finance ministry in a bid to improve diversity in the financial sector where just 14% of executive committee members were women in 2015.
More than 370 firms with over 900,000 employees in total have signed up to the charter and commit themselves to voluntary diversity targets.
A review by New Financial think tank of 187 of the firms found that only a third have met or exceeded their own targets.
Women make up 32% of senior management on average, still short of the 33% minimum target the finance ministry would like to see for all signatories, the review said.
“I am determined to see the financial services sector