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PLSA signs up to Treasury’s gender diversity initiative

The Pensions and Lifetime Savings Association has announced it is one of 33 new signatories that has signed up to HM Treasury’s Women in Finance Charter today.

This has pushed up the number of firms that have joined the initiative to improve gender diversity within financial services to 300.

These range from global banks to credit unions, the largest insurance companies to the smallest fintech start-ups – with headquarters in the UK, USA, Europe and Asia.

The big hitters among the latest entrants include American Express, LV=General Insurance and Societe Generale.

The only adviser firm on the list is Boston Spa based Berry & Oak.

In summer 2015 the government asked Virgin Money chief executive Jayne-Anne Gadhia to lead a review into the representation of women in senior managerial roles in financial services.

It found that in 2015, women made up only 14 per cent of executive committees in financial services.

In response to the recommendations in that review, HM Treasury launched the Women in Finance Charter.

PLSA chief executive Julian Mund says: “Pension schemes have long made it clear that they expect diverse boards at the companies they invest in as this is key to firms’ long term success.

“What is right for companies, must also be right for pension funds.  At the PLSA, we have a responsibility to ensure that women are represented fully across the wider pensions sector and becoming a charter signatory shows our continued commitment to this issue.”

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