Banks Scramble to Sign Up to City Gender Equality Charter after Presidents Club Scandal

City firms are scrambling to sign up to a government-backed gender equality charter after calls from Virgin Money chief Jayne-Anne Gadhia to “get on board” in the wake of the Presidents Club dinner scandal.

Ms Gadhia told The Sunday Telegraph it was “about time” that banks not signed up to the Government’s Women in Finance Charter did so.

The charter has 166 signatories and commits firms to increasing the number of women in top jobs. But notable firms missing from the roll call currently include Goldman Sachs, JP Morgan, UBS and Metro Bank.

However, The Sunday Telegraph has learned Goldman Sachs is planning to sign up, along with Metro Bank.

JP Morgan said it was considering adding its name. UBS declined to comment but is understood to support the document in principle.

The charter was launched last November and requires pledges to raising the proportion of women in senior roles from 35pc to 40pc by 2020, and longer term to a 50-50 gender balance.

Goldman Sachs declined to comment. It had previously said it was supportive of the initiative but claimed it was “challenging for us to make a regional commitment”.

Ms Gadhia, one of Britain’s most powerful businesswomen, said that she was “properly shocked” by reports in the Financial Times of harassment of several women working at a men-only charity dinner attended by senior politicians and business bosses earlier this month.

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Source: The Telegraph, Retrieved 28 January 2018, http://www.telegraph.co.uk/business/2018/01/27/banks-scramble-sign-city-gender-equality-charter-presidents/

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