Sexual harassment 'remains commonplace' in the City with 'little or no action' taken
A group of 40 female professionals from 30 firms met at a private Treasury Committee event in November to discuss issues surrounding sexism in the City.
At a Treasury Committee private event in November, attended by 40 female professionals from 30 firms, the attendees reported little progress had been made in terms of eradicating sexism from the industry since the committee's Women in Finance inquiry in 2018.
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In a document released by the committee today (17 January), they described the culture in the financial services sector as still an «old boys' club», where no one wants to «rock the boat». Only a small number of attendees claimed their workplace had become more inclusive in the last five years.
The professionals acknowledged a reduction in overtly sexist and misogynistic incidents in the workplace, such as «office banter», but argued that such mindsets remained prevalent, with behaviour now more «underhand and pernicious».
Initiatives aimed at improving diversity and inclusion were welcomed by the group, but they argued several of them were «tokenistic» or «box-ticking» in nature, as they lacked the «teeth» to drive genuine change.
Some women attributed the issue to diversity and inclusion not being seen as a core business priority, as it is often not accompanied by clear action plans or strategies. However, they noted conversations around D&I are «often in the right place» at a senior board level, but more work is needed at a middle management level, where there remains a lack of accountability in delivering these changes.
Consequently, they argued more men — especially white men — should appreciate the benefits of a
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