Lloyds: 40pc of our top managers will be women in 2020

Tim Wallace
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LLOYDS will hire 600 more female managers over the next six years, the bank’s chief will promise in a speech tomorrow.

Antonio Horta Osorio will commit to ensuring 40 per cent of senior staff are female by 2020.

Currently 28 per cent of the bank’s 5,000 senior staff are female, equating to 1,400 employees.

The increase to 40 per cent will take that up to 2,000, an increase of 600. The pledge covers several bands of seniority, and the bank wants at least 25 per cent of managers at each of those levels to be female, ensuring widespread coverage from the target.

At the moment 60 per cent of the bank’s overall workforce is female.

The chief executive of the state-backed bank will also set out a range of lending targets.

He plans to give mortgages to 80,000 first-time buyers in 2014, maintaining the rate of lending in 2013 – by the end of the third quarter of last year the bank had given 60,000 of the loans.

And the bank also aims to increase net lending to small firms by £1bn this year.

Horta Osorio will say: “The reputational impact of the financial crisis upon the banking industry’s stature has been immense. Rebuilding a sound reputation founded on the highest standards of responsible behaviour is key to the industry’s long term success.

“But words alone are not enough to change public perception and regain trust.

We must be able to provide meaningful commitments and allow ourselves to be independently measured against those.”