UK financial services scene to get new D&I awards

The awards will shine a spotlight on firms that are making the space more diverse and inclusive

PIMFA, the UK trade association for firms in the wealth management, investment services, and financial advice industry is launching an awards ceremony to celebrate organisations that are embracing D&I.

‘The PIMFA Diversity & Inclusion Awards’ will shine a spotlight on financial services firms of various sizes that are “actively working towards promoting greater diversity and inclusion” within the sector.

Entries will be judged by a group of “industry peers” and diversity and inclusion “experts” from PIMFA’s partner charities, these include Richard Wilson, Chief Executive of UK-based financial services firm, Interactive Investor, and Matt Cameron, Global Managing Director at LGBT Great, a membership organisation for fostering D&I in the financial services world, among a host of others.

There will be eight awards categories including six awards for firms and two for individuals, these include Inclusive Talent Management (small firm: one – 50 employees), Inclusive Talent Management (small/medium firm: 51 – 200 employees), Inclusive Talent Management (medium-firm: 201 – 500 employees), Inclusive Talent Management (large firm: 501+ employees), Best D&I Initiative, Best Approach to Wellbeing as well as The Overall D&I Champion and Rising Talent awards for individual winners.

The announcement follows calls for greater D&I in the financial services sector in order to create more equitable workplaces and to better serve the needs of diverse customers; in a speech earlier this year, the Financial Conduct Authority’s Chief Executive, Nikhil Rathi said the regulator needed to focus more on diversity and inclusion in the sector which could become a regulatory matter if things don’t improve.

Liz Field, Chief Executive of PIMFA said: “PIMFA knows that there are firms of all sizes, at different stages, who are doing really great work towards creating a more diverse and inclusive workforce – but that many remain hidden or unrecognised. We want to recognise these firms and celebrate the value and importance of having a more diverse and inclusive profession and the difference it can make for clients, staff, and organisations alike.

“Firms both large and small will have examples of initiatives they are working on to bring about change and make their own businesses, and our industry more broadly, more inclusive and diverse whether that is in schools’ initiatives, or through recruitment practices.

“There is also a wide variety of exceptionally talented individuals coming up through the ranks in our industry, who are helping their organisations provide support to diverse communities and clients or developing and leading innovation.

“We think it is appropriate to celebrate those people, and those organisations that are working hard to ensure our industry better represents the wider society it aims to serve, and perhaps learn a little from those that are already making progress towards a more diverse and inclusive workforce along the way.”

‘The PIMFA Diversity & Inclusion Awards’ will take place on 20 October 2021 in London and online. Entries are open until 17 August 2021. The winners will be announced on 20 October 2021. To submit an entry, click here.
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