The UK government’s recently published Sexism in the City report revealed the shocking and wide-ranging extent of challenges women still face in financial services. The conclusions of the report are unacceptable in 2024 — or any year — but are sadly unsurprising. For too long organisations have overlooked meaningful action to address cultural issues that determine the levels of gender parity in business leadership positions and have failed to provide where women might benefit from alternative support structures to achieve their career potential.
The glaring irony, of course, is that women make up half of the workforce and research from London Business School, SQW and the Financial Reporting Council has shown that firms embracing diversity in the boardroom see increased profits. Despite making strides in recent years, women remain a powerful, untapped source of business potential, and the financial services sector should be working to embrace the business potential of their female executives.
