Financial Services Diversity Initiative


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Financial Services Diversity Initiative


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Financial Services Industry


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During a hearing in 2004 on the financial services industry, congressional members and witnesses expressed concern about the industry's lack of workforce diversity, particularly in key management-level positions. Witnesses stated that financial services firms (e.g., banks and securities firms) had not made sufficient progress in recruiting and promoting minority and women candidates for management-level positions. Concerns were also raised about the ability of minority-owned businesses to raise capital (i.e., debt or equity capital). GAO was asked to provide an overview on the status of diversity in the financial services industry. This report discusses (1) what available data show regarding diversity at the management level in the financial services industry from 1993 through 2004, (2) the types of initiatives that financial firms and related organizations have taken to promote workforce diversity and the challenges involved, and (3) the ability of minority- and women-owned businesses to obtain access to capital in financial markets and initiatives financial institutions have taken to make capital available to these businesses. GAO makes no recommendations







Diversity in the Financial Services Sector


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The Diversity Project


Book Description

Diversity is not only our social obligation. It is a business imperative. In early 2016, a group of leaders in the investment and savings profession met and concluded that future success for their clients, members, employers and shareholders requires a diverse and inclusive culture and that the sector was lagging behind others in reflecting our society. That led to the creation of The Diversity Project: a cross-company initiative whose purpose is to champion and accelerate progress towards a more inclusive culture. They believed they had an extraordinary opportunity to press the reset button in the industry: to recruit, nurture and retain the first truly diverse generation of investment and savings professionals. This book recounts the progress made to date, discusses the progress that still needs to be made and sets out practical ways to achieve it. The Diversity Project is a practical guide for business leaders, managers and employees who want to: - Understand the different aspects of diversity and inclusion - Develop strategies to help build a more inclusive work culture - Support colleagues to navigate the challenges of the workplace - Structure HR process and policies to support all types of employees - Build a truly successful business harnessing the power of diverse thinking Steve Butler is a Chartered Manager and Fellow of the Chartered Management Institute. In his current blended role of business leadership & management, academic researcher and industry diversity campaigner, he is a regular writer and speaker on intergenerational working, retirement and older worker business management issues. As an active member of the Diversity Project, he is committed to commitment, building a truly incisive workplace. 100% of the Author's proceeds from this book will be donated to the Diversity Project Charity.