Government appoints Virgin Money CEO as Women in Finance Champion

The government has appointed Jayne-Anne Gadhia, CEO of Virgin Money, as the official Women in Finance Champion to promote the benefits of a diverse workforce across the UK financial services sector.

Related topics:  Finance News
Rozi Jones
8th November 2016
Jayne-Anne Gadhia Virgin Money
"I want to see a diverse sector run by talented women as well as men, to help secure Britain’s place as a globally competitive economy."

It is estimated that equalising the role of men and women in the labour market could increase GDP by 10% by 2030.

New signatories to the Women in Finance Charter include major financial services firms such as Canadian Imperial Bank of Commerce, Jupiter Asset Management, Zurich Insurance, Allied Irish Bank UK, State Street, and the Financial Ombudsman Service.

The 22 new firms on the Charter employ over 20,000 people in the UK, bringing the total number of charter signatories to 93.

In a statement, the government said it would like to see more FinTech firms, payments companies and investment banks sign up to the charter and hopes Jayne-Anne will play a key role in making this happen.

Earlier this year, in a review commissioned by the Treasury, Jayne-Anne Gadhia found that in UK financial services female representation is currently around 23% on boards, but only 14% on executive committees.

The Chancellor of the Exchequer, Philip Hammond, said: "It is great news that almost 100 firms have signed the Women in Finance Charter and are now dedicating themselves to tackling gender inequality.

"But there is still further to go. The UK leads the world in financial services, but it can be even better. I want to see a diverse sector run by talented women as well as men, to help secure Britain’s place as a globally competitive economy. The business case is obvious, and the best firms already get this."

Jayne-Anne Gadhia added: "I am delighted to be appointed the government’s Women in Finance Champion. We need to continue to manage the flow of female talent to leadership positions in financial services so that it properly reflects the diversity of our society.

"It is fantastic that 93 firms have now signed up to the Women in Finance Charter. Such widespread support of the charter will make a genuine difference to gender diversity and help to create a fair and balanced financial services sector.

"It is important to keep the momentum going and recognise the strong link between greater gender balance and improved productivity and performance."

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