New research by the FCA has highlighted that the number of women holding senior leadership positions in the sector is largely indistinguishable from nearly 15 years ago.

There are a number of nuances that need to be accounted for. For instance, women found in senior leadership positions are more often in non-executive posts than key decision-making roles.

Gender diversity gains also vary across different sub-sectors. Investment management firms have made the most progress, seeing women make up 26% of senior management roles, while brokerages actually saw a decrease from 2005-2019.

While this could be put down to the fact that fewer women pursue careers in financial services, evidence such as this illustrates that female social mobility for those who do work in the sector is very low, despite gender diversity being a popular topic.

More conscious efforts should be made by not only hiring managers, but also internal and external search firms to actively consider their diversity impact throughout the recruitment process.