Diversity in finance: special focus

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Euromoney closely follows how financial institutions are supporting diversity within the industry. How are banks addressing pay equity and upward mobility across gender, race and sexual orientation – among both employees and clients? What are the challenges and how can they be overcome? Here is a selection of the latest news and opinion.

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ADDITIONAL SECTIONS

NEWS AND OPINION

Pay equity: Closing the gap
November 2017
Banks face lawsuits over pay inequity as regulators now take diversity into their own hands.

Diversity and inclusion: Thomson Reuters reveals Q3 bank rankings for D&I
November 2017

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The top three banks globally for diversity and inclusion (D&I) are Bank of Montreal, BNP Paribas and Barclays, according to data from Thomson Reuters.

CSR and diversity: It’s time for banks to get naked
July 2017
Greater transparency on CSR would save banks from duplicated efforts while learning from each other.

CSR: Inclusion key to bank diversity efforts
July 2017
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While an increasing number of studies point to diversity having a positive impact on business performance, it needs to be coupled with inclusion if financial services companies want to see cultural and societal change.

Are impact investments the new hedge funds?
April 2017
To keep the spirit of impact investing, it is worth opening up the terminology to be more inclusive of a myriad of strategies.

India: It’s a woman’s world
April 2017
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If this was supposed to be the century of the woman, no one thought to tell the international banking community. One country alone has closed the gender gap, and it happens to be Asia’s fastest-growing large economy. Step forward India, where the top ranks of finance are filled with high-flying women.

Latin America: Lenders warming up to Brazilian banks
March 2017
"Women tend to be less aggressive [in seeking financing terms] and more responsible – the sustainability of woman-owned enterprises is better."

UBS rethinks gender-lens investing
March 2017
Americas wealth management division partners with specialist investment fund to back tech companies with women at the helm.

The long road to gender equality
February 2017
The finance industry continues to struggle with the disconnect between talk and action on diversity. Is it time for the activists to shake things up?

Private Banking Survey 2017: Wealth leaders face a tough balancing act
February 2017

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one banker says there is an opportunity in hiring female advisers: "As an increasing number of women are seeking advice around financial decisions, we need to hire more female advisers to respond."

Private banking: Smarter, faster ways of giving
February 2017

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Steven Werlin works with Fonkoze in Haiti, a charity that seeks to help the poorest women in communities become self-sufficient…

CSR: SRI assets hit $8.72 trillion
December 2016
More than 70% of women consider social or environmental impact as important to investment decisions, compared with just 49% of men. 

CSR: The alpha female effect
December 2016

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Gender lens investing is on the rise, and with good reason. Not only do companies perform better with greater female representation on their boards, but a multi trillion-dollar wealth transfer to women and millennials means greater investment focus on social issues like diversity.

CSR: Can bank hiring help close the socioeconomic divide?
October 2016

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As political tensions around income inequality rise, so too does pressure on banks to hire employees from more varied backgrounds. While some have been early adopters of diversity, there is much still to do.

CSR: The unbanked – mind the gender gap
September 2016
Unbanked women an opportunity for banks; inclusion boosts economic growth.

How financial inclusion will change the face of banking
September 2016 

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In many regions, the unbanked, particularly unbanked women, complain that they do not feel comfortable entering a bank, that the ID requirements are too onerous to start a bank account, or that bank branches are simply too far away.

Sex discrimination and the City
July 2016
Sex discrimination is still rife in the City, but new gender pay reporting rules threaten to expose the gender pay gap at investment banks and compel them to bring real equality to the trading floor.

FX: Fired currency traders fight back
April 2016

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Ex-Citi trader Carly McWilliams’ employment tribunal win will spur on other fired currency traders waiting for their day in court and encourage more women to bring unfair dismissal claims, say legal experts. The banks’ argument that a handful of rogue traders acting behind senior managers’ backs were to blame for the currency rigging scandal is contested.

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Fintech 2016: Global Invest Her teaches women entrepreneurs to play the funding game
April 2016
As evidence emerges that start-ups led by women make more money for venture capitalists than those led by men, a new platform aims to help women entrepreneurs get funded.

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FX: Battle of the sexes
December 2015
Leading women in FX talk about breaking the glass ceiling as the latest scandals reinforce the macho stereotype of the industry. Could the rise of electronic trading influence gender dynamics?


AWARDS


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World's best bank for diversity and inclusion 2017: Lloyds Banking Group
July 2017
From challenging views on diversity in advertising to increasing productivity through homeworking initiatives, Lloyds is changing the way the corporations and society tackle D&I.


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World's best bank for diversity 2016: Bank of America Merrill Lynch
July 2016
In gender diversity, the bank is unrivalled. Some 52% of its global workforce are women, and representation by women on the executive board is 38% – more than double that of the average board among other Fortune 500 companies.


FRONT END

Gender inequality – Diversity: the alternative view
February 2017

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In a month that saw hundreds of thousands of women worldwide unite in disgust at the proposed policies of new US president Donald Trump, one Chinese investor has provided a shocking example of how pervasive a problem gender inequality still is in the financial markets.

Even Leibovitz can’t make banks look good
June 2016

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Star photographer Annie Leibovitz was in Singapore recently, promoting a new exhibition commissioned by UBS.

Shorting anti-LGBT rights
May 2016 
Credit Suisse equity analysts in April revealed that a proprietary benchmark basket of 270 companies with progressive pro-lesbian, gay, bisexual and transgender polices (LGBT), outperformed the MSCI All Country World Index by 3% a year over the last six years.

Diversity double fault for BNP Paribas?
April 2016
BNP Paribas takes the issue of diversity in the workplace very seriously. A quick glance at its website tells you as much. So it must have prompted some embarrassment when…

Corporate social responsibility: Pinked off
November 2015

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The work being done by banks globally in the corporate and social responsibility sectors continues to impress. But must there be so much pink?