It looks like more women are set to take top positions in Britain’s financial firms. This is based on what John Glen’s, UK Financial Services Minister, latest statement. Back in 2016, the Finance Ministry launched a voluntary Women in Finance Charter. At the time around 300 Financial firms signed up for it. This was a big step considering that in 2015 less than 15 percent of British executive committee members were female.
According to Glen, upon reviews of the progress of those who signed up; things are running slow. The target is supposed to be met by 2020, and this does not look good. He said that he will study the progress this coming March to see how each firm is doing now, one year away from the deadline.
The charter looks to establish a gender balance at all levels of a company. Glen’s commitment is very promising as well. He says that the focus now lies in maximizing the impact. He believes that companies can reach their goals and more by using evidence to affect their initiative.
As for the companies who signed up, they are the ones who set and published the internal targets they commit to. Hence, they set their own goals, and Glen intends for them to keep it.