Nikhil Rathi Getty Images
Six times more men than women applied to replace Andrew Bailey as the head of the Financial Conduct Authority
Britain’s finance watchdog has been a vocal proponent of diversity and inclusion among the thousands of firms it regulates. But when it comes to the candidates for the top job, it is still stuck in the past.
Six times more men (43) than women applied to replace Andrew Bailey as the head of the Financial Conduct Authority, according to figures obtained by Financial News through a freedom of information request.
The regulator, which advertised the role in February, received only seven applications from women and no applications from candidates who identified as “Black, African, Caribbean, Black British” or belonging to “mixed/multiple ethnic groups”, the FOI figures showed. The FCA received 59 applications in total but provided data for only 50 applicants as nine applicants “opted out of the diversity questionnaire”.
Nikhil Rathi, the current chief executive of the London Stock Exchange who is of British-Asian background, was chosen as the regulator’s CEO last month. He begins his new role in October. It is unclear what caused the lack of gender and ethnic diversity among the pool of candidates. Some campaigners and recruitment experts blamed this on the FCA’s “officious” job description which may have discouraged competent candidates to apply for what is one of the finance sector’s most influential roles.
Read full article here: https://www.fnlondon.com/articles/only-seven-women-applied-for-fca-chief-executive-role-20200713
An article by fnlondon.com