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Tesco Bank signs up to the Women in Finance Charter

Martin Greenland | 16:57 Wednesday 15th November 2017

Tesco Bank has become one of the latest financial services firms to sign up to the Women in Finance Charter.

The bank has joined 25 other companies which have recently committed to the initiative, including the Bank of England and Deloitte.

As of 10th November, the charter now covers more than 600,000 employees.

Other new signatories include Payment Systems Regulator, RSA Group, Allianz Insurance, UK Finance, the Association for Financial Markets in Europe, Old Mutual Wealth and Funding Circle.

In total, 120 financial services firms have committed to having at least 30% of senior roles filled by women by 2021.

Of those companies, 40 have committed to a 50/50 gender split in senior roles by 2021.

Stephen Barclay, economic secretary to the Treasury, said: “This is another excellent group of signatories to the Women in Finance Charter.

“Their actions – alongside those of the other signatories – have the potential to make the UK's pre-eminent financial services sector more representative and more inclusive.

“I'm keen to see even more firms follow their example and make a positive, public commitment to improve gender balance in our financial services.”

To coincide with this announcement, Virgin Money – in collaboration with HM Treasury – has created a Women in Finance app to support companies that want to sign the charter and address gender imbalance in their organisation.

Jayne-Anne Gadhia, CEO of Virgin Money and the government's Women in Finance Champion, added: “To drive change, the Women in Finance company signatories have collaborated to share best practice on these 10 positive actions, which are now freely available through the Women in Finance app which is launched today [10th November].

“I believe this innovation will help drive improved gender balance throughout the financial services industry.”

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