Diversity and culture in UK Financial Services

This chapter looks at gender diversity and how this interacts with culture within financial services in the UK. Taking a broad perspective on diversity, the chapter looks beyond the board and across the entire workforce. It demonstrates that, although the gender balance within the industry has changed and has in some senses improved, the problem has not gone away – only shifted. The relationship between diversity and corporate culture is also considered, taking into account the unique reputation of the financial services industry as being particularly masculine in nature. In-place and proposed regulatory initiatives that seek to change the diversity of financial services are critically analysed for their potential impact. The possibility of detrimental side effects of a regulatory focus on process and data is raised, and a greater focus on fostering the diversity-supporting aspects of corporate culture is called for.