Race & Ethnicity
In financial services, the data that is available on race and ethnicity illustrates the multifaceted challenges both in terms of representation and inclusion.
According to research from the Diversity Project, which includes representatives from Bruin on the steering committee, less than 3% of investment managers are black, and the Bank of England recently revealed that the turnover rate of declared BAME colleagues is higher than that of the Bank as a whole.
Analysis also shows that elite universities - such as the Russell Group which are the most commonly requested academic criteria for role requirements in financial services - do not have proportionate BAME representation. This highlights that as well as transparent approaches to progression, criteria for diverse recruitment and talent pipelining need to be better implemented, which remove the potential for unconscious or implicit bias.