Women in Finance Charter – update on progress against British Business Bank commitments

Press release 17 October 2019

In March 2018, the British Business Bank signed up to HM Treasury’s Women in Finance Charter, and in September 2018 made a number of commitments on which it agreed to publish a yearly update.

Commitment in September 2018 Progress at September 2019
That, by 2021, 50% of our senior management – our Executive Committee – would be female (within a 10% tolerance). When we signed up to the Charter in September 2018, 33% of our Executive Committee members were female.

In September 2019, 40% of our Executive Committee members were female. This has increased over the year as we’ve welcomed new people to the team.

That we would appoint one member of our senior executive team to be responsible and accountable for gender, diversity and inclusion. Because we consider this a priority for the business, we have made this the responsibility of our Chief Executive Officer, Keith Morgan.
That we would set internal targets for gender diversity in our senior management Our aim is that by 2021 40% of our Senior Management Team (band 2-4) will be female. We plan to achieve this through recruitment, development and internal promotion.

We now aim to include a gender diverse shortlist and interviewer panel in all recruitment processes at Director and Managing Director level.

That we intended to link the pay of the senior executive team to delivery against our internal targets on gender diversity. We now have a diversity objective included in the performance appraisal process for our senior executive team.

Although outside of its commitments under the Charter, the British Business Bank can also confirm that 27% of its Board members were female at the end of September 2019.