Nicola Stewart, director at Edison Group
As Andrew Bailey says, the Bank of England has a duty to be representative of the variety of cultures and backgrounds of the people of England.
The Bank also has a duty to set a blueprint for the banking sector overall, to accelerate flexible working practices underpinning family life and mental wellbeing. These four measures would help him achieve this.
Firstly, start with change at the top, which will be eye-catching and send a signal that he means business. The Bank's four deputy governors are all white men.
He could commit to appointing two of the next holders of these roles from among women, BAME and LGBTQ+ communities.
Secondly, the Bank does have a diversity lead, Catherine Hines. She and her role should be elevated to executive director, to give her the authority to drive forward the changes needed.
Thirdly, efforts should be made to lessen the turnover of BAME employees. They make up 18% of staff but represent 23% of staff leaving the Bank, undermining this drive.
Finally, the Bank might look to institutions it polices, but which are above it on the 'Most Family-Friendly Workplaces' list. The Bank is ranked 12th, below American Express (first), Lloyds (sixth) and RBS (ninth).