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Asset managers have 'gone backwards' on gender

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Asset managers have 'gone backwards' on gender

The UK’s asset management industry has ‘gone backwards’ on gender representation, says the City grandee who last year co-led a government review into women in business.

Speaking to the Telegraph, GlaxoSmithKline chair Sir Philip Hampton said that the sector needed to boost its efforts to attract more women after seeing earlier progress go into reverse.

‘It should be one of the most gender neutral industries you can think of – it’s about analysis and judgment. But it’s overwhelmingly male,’ he said.

‘It should be a sector where women feel comfortable and it isn’t. It’s one of those sectors that has gone backwards.’

He added that a failure to address the industry’s own issues was reducing asset manager’s own attempts to ensure greater diversity at board level among companies they hold.

UK firms which employ more than 250 staff will have to publically disclose their gender pay disparities by April this year. The finance sector is expected to be one if the poorest performing.

 

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