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MPs may reject future Bank appointments over diversity concerns

Lawmakers may not approve appointments to the Bank of England in the future over concerns about the lack of diversity at the institution.

While the Treasury select committee approved two male appointments at the Bank this week, it expressed concerns again about the absence of women in senior positions.

This means the committee could decide not to agree an appointment to any Bank policy boards if it felt inadequate effort had been made to find a diverse candidate.

Although the committee cannot force the Treasury which makes Bank appointments to change course, any public disagreement could be embarrassing.

Committee chairwoman and MP Nicky Morgan says the sluggish progress on gender balance at the senior manager level was “disappointing”.

The culture and lack of diversity in the financial services industry has been a theme for the committee.

In mid-June it published a report that said an “alpha-male” culture in financial services continues to put women off seeking top jobs.

The report also criticised a lack of clear criteria when awarding bonuses, to combat the perception that men will argue more forcefully so will receive higher performance-related payments.

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