Women in Finance Criticize City of London's ‘Tokenistic’ Diversity Efforts

Testimonies from 40 women across banking, insurance, and asset management in Britain describe diversity and inclusion initiatives as often “tokenistic,” and lacking the “teeth” to make a change in an industry where misogynistic attitudes linger.

The summary of a private roundtable held in November 2023 with lawmakers was released on Wednesday ahead of the final session of a Parliamentary inquiry into the extent of sexism in the City of London. Leaders from the Financial Conduct Authority and the Bank of England’s Prudential Regulation Authority spoke on the issues and the regulators’ proposals to boost diversity and inclusion within firms.