Wednesday 28 July 2021 12:00 pm

City Corporation urges firms to support its socio-economic diversity task force

The City of London Corporation is calling on financial and professional services firms to encourage their networks and employees to support its socio-economic diversity task force.

At a virtual meeting, City Corporation policy chair Catherine McGuinness asked individuals and organisations to get involved by being informed and using their influence to raise awareness of the need for greater inclusivity, namely by collecting data on their workforce’s socio-economic diversity.

The attendees of the meeting included representatives from the Financial Conduct Authority, the Prudential Regulation Authority and the Bank of England, who discussed the task force’s findings so far.

McGuinness highlighted the need to refocus on social mobility as all sectors recover from the pandemic.

“There is real momentum for change, and I hope that we can seize this through the work of the taskforce, through our industry consultation, the development of a peer network, and our productivity analysis, to build that all-important business case,” she said.

HM Treasury and the Department for Business, Energy and Industrial Strategy commissioned the City Corporation to establish the independent task force in November 2020. It aims to boost diversity and inclusion in the UK financial and professional service industry.