62% of financial firms have supported female career progression

Research conducted by think-tank New Financial has found that over two-thirds of finance firms believed that signing up to the charter will lead to permanent and sustainable change in gender diversity at senior levels.

Stephen Barclay, economic secretary, said: “For too long many women in finance have been underpaid, underrepresented and undervalued compared to men and it’s great to see the Treasury’s Women in Finance Charter making a tangible difference in the banking sector.

“Firms are waking up to the fact that promoting more women into senior roles is not only the right thing to do, but will also improve their overall business performance.

“Diversity of thought at the top is crucial in keeping the financial sector at the cutting edge.”

Over two-thirds of signatories have either used, or plan to use, the charter as a blueprint to improve the representation of other diversity characteristics in their firms, such as ethnicity and sexual orientation.

More than a quarter of the signatory firms who have published their diversity targets are committed to a 50/50 gender split in senior roles.