Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Slow progress on sexism in the City as women still ‘battling’ to the top, MPs told

by October 17, 2023
October 17, 2023
Slow progress on sexism in the City as women still ‘battling’ to the top, MPs told

Limited progress has been made on tackling sexism in the City of London, with women still “battling their way to the top”, MPs have been told.

Financier Baroness Helena Morrissey told parliamentarians there were “big pockets of no improvement whatsoever” when it came to gender parity in the Square Mile.

The City doyenne stressed that culture remained a core problem, with female City workers reporting issues ranging from sexual assault to bullying and unequal pay.

Speaking to the Treasury select committee, Morrissey said the Women in Finance charter “shows some improvement” with female senior management levels now at 35 per cent.

But she added: “I’m afraid that it seems to be more a few women battling their way through to the top than the day-to-day experience of women in the City improving.

“There are big pockets of no improvements whatsoever. Still only 12 per cent of named fund managers — running an account, with their name on it — are women and that’s hardly changed in the 36 years I’ve been in the City.”

Morrissey also told MPs 20 women from the City had come forward to her scheme The Diversity Project with “experiences rang[ing] from quite aggressive sexual assault, to bullying discrimination and unequal pay… the fear factor is very real.”

Committee chairwoman Harriett Baldwin said looking at the evidence submitted to the inquiry “suggests that really the dial has barely moved since 2018”.

Mark Freed, CEO of Men for Inclusion, concurred, saying: “Not much has changed since 2018.”

He told MPs the statistics “show we’re closing the gender pay gap by about a penny a year”.

Freed said: “Over 50 per cent of firms wont reach gender parity in top quartile earnings until way after 2050. 26 per cent will never reach it — they’ve actually gone backwards.

“In corporate and investment banking the figures are pretty much the same — appalling.”

Fiona Mackenzie, CEO of The Other Half, said remote working during the Covid-19 pandemic had led to unexpected progress on the issues faced by women in the City.

Hybrid working, she said, “had huge benefits for working parents particularly women”.

She added: “Lots of women in the City are doing roles they would not have been able to fulfil because they can now work in a way that is home based sometimes and with flexibility.”

Read more:
Slow progress on sexism in the City as women still ‘battling’ to the top, MPs told

0
FacebookTwitterGoogle +Pinterest
previous post
Gove in a fresh bid to scrap green housebuilding rules calling Labour’s ‘crude, nimbyist appeal’
next post
Menthol Tobacco Ban Appears Inevitable. Expect a Healthy Black Market, More Criminal Justice Inequities

You may also like

Adam Clarke on Business Success Factors

August 17, 2022

Get on a billion wish lists this holiday...

December 7, 2022

Thames Water Proposes 56% Bill Hike Amid Financial...

April 19, 2024

Labour Warned Over Living Wage Plans

June 18, 2024

Do you worry about your employees’ use of...

July 26, 2023

Twelve engineering companies participate in pilot Academy programme...

July 18, 2023

How to Drive More Traffic with Instagram Swipe-Up...

November 27, 2024

How to Choose the Right Electric Bicycle

June 28, 2024

BMW admits ‘irregularities’ with 100 Russian car sales...

December 24, 2024

Selecting the Right Investment Manager for Your Portfolio

August 17, 2023

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • UK payrolls see biggest drop since covid as wage growth slows and job market weakens

      June 10, 2025
    • Why AI and green tech are vital to SME growth in 2025

      June 10, 2025
    • Yes, it’s great to get PR coverage – until it’s locked behind a bloody paywall

      June 10, 2025
    • We have to act now to keep AI from becoming a far-left Trojan Horse

      June 10, 2025
    • SME lending delays slashed by 80% thanks to fintech-driven back-office reform

      June 10, 2025
    • UK defence innovation strategy opens new doors for SMEs in AI and autonomous tech

      June 10, 2025

    Categories

    • Business (8,173)
    • Investing (2,021)
    • Politics (15,580)
    • Stocks (3,138)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved