Financial Conduct Authority (FCA) chief executive Nikhil Rathi has assured advisers that the regulator cares about improving diversity within the sector and argued that doing so would achieve better customer outcomes.
Speaking at the HM Treasury Women in Finance Charter Annual Review Launch 2021 this morning (17 March), Rathi (pictured) said there is a "strong business case for diversity" and "no shortage of wider issues to address". "Fewer than one in 10 management roles in financial services are held by black, Asian or minority ethnic people." Referring to the government's Parker Review, Rathi said there were just 80 directors of colour in the FTSE250, making up 5% of the total. "And where there are directors of colour they tend to be concentrated in a small number of firms and few hold the po...
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