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

70% of mid-sized businesses on track to incorporate...

October 19, 2023

Socium raises $5M to become leading HR solution...

November 23, 2024

Ronn Torossian on Driving Consumer Loyalty During the...

October 21, 2022

FCA issues warning to banks over ‘greenwashing’ in...

June 30, 2023

Labour will use state bank to fund female-led...

March 11, 2024

Amazon to cut hundreds of staff at Prime...

January 11, 2024

Ministers urge RMT union to halt rail strikes...

December 2, 2022

Asda’s grocery market share slips as Chairman Lord...

August 14, 2024

How to Boost Your Productivity: Lessons from Business...

September 23, 2024

UK Chancellor champions British excellence in tech at...

January 18, 2024

    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

    • Trump ally stands firm against ‘big, beautiful bill’ despite pressure: ‘It’ll completely backfire’

      June 8, 2025
    • Rubio condemns assassination attempt on Colombian presidential candidate Miguel Uribe

      June 8, 2025
    • Obama WH physician says Biden doc should have performed cognitive test

      June 8, 2025
    • Trump warns of ‘serious consequences’ if Elon Musk funds Democrats

      June 7, 2025
    • Musk jokes about reconsidering stance on Big Beautiful Bill after Schiff’s praise

      June 7, 2025
    • Musk deletes explosive posts about Trump and Epstein files

      June 7, 2025

    Categories

    • Business (8,152)
    • Investing (2,019)
    • Politics (15,571)
    • Stocks (3,136)
    • 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