FCA admits slow career progression for black individuals to senior level

'More work to do' to achieve targets

The Financial Conduct Authority has recently achieved parity between male and female representation within its senior leadership team, although the regulator has admitted that its data showed slower career progression for Black individuals within its own ranks.

While the regulator is two years ahead of its Women in Finance Charter 2025 target date, Therese Chambers, joint executive director of enforcement and market oversight at the FCA, noted that the regulator is aware of a lack of black leaders in senior roles throughout financial services. As of 31 March 2023, 13.8% of the FCA's own senior leadership team was from a minority ethnic background. Chambers detailed that the regulator has "more work to do" to achieve its 20% target. 10,000 Black Interns: It is about culture rather than diversity She added that the FCA is taking action to m...