As part of our Women in Finance Charter commitments:
Since singing up to the Women in Finance Charter, both Virgin Money and CYBG have worked hard to make progress against our targets, which reflects the commitment we have to build strong female representation at all levels within our organisation. This year, as we come together to form a new and exciting Virgin Money, we have taken this opportunity to learn from each other while also reviewing our WIFC targets and definition of senior management to better reflect our newly combined senior management team.
Going forward, our newly combined company target for 2020 will be 40% females in senior management positions with our longer-term aspiration for gender balance of 40-45% by 2022. Along with a review of our combined target, we have amended our definition of senior leadership to better reflect the newly combined structure.
As of August 2019, as a combined group we had 36% female representation within senior management.
Over the last 12 months, we have been making good progress towards our target, not only to drive actions that improve diversity, but that also create a truly inclusive culture. To do this we have:
2016 Empowering Productivity Report
This Report and its recommendations are about fairness, equality and inclusion for men and women. More women than men start out in Financial Services but, as they progress, the majority fall out, especially at middle management level. This leaves almost all of the top jobs in the hands of men.
Achieving a balanced workforce at all levels in Financial Services will undoubtedly improve culture, behaviour, outcomes, profitability and productivity.
Nearly 3,500 people – men and women – contributed to this Report through a variety of channels and I am delighted to be able to make their views heard in this way.
"Only 50% of women, compared to 70% of men believe they have an equal opportunity to advance regardless of their personal characteristics or circumstances."
"New Financial's sample of 200 firms active in UK Financial Services showed an average of 23% female representation on Boards, but only 14% on Executive Committees."
"We're all used to having bosses that are men, pilots that are men, train drivers that are men. We're all used to having secretaries that are women. We need to have role models for ourselves but we also need to have role models for our children."
You can find more information about Broadminded at www.broadminded.org
Views from across the UK Financial Services sector