FCA: Workplace racism faced by black people 'subtle and insidious'

Under 1% of investment managers are black

Jenna Brown
clock • 3 min read

There is a lack of black people across senior role in financial services and there is a “strong business case” for improving diversity, the Financial Conduct Authority (FCA) has said.

FCA executive director, consumers and competition Sheldon Mills, speaking today (22 April), outlined why black inclusion mattered to the watchdog and said black people today faced "subtle and insidious" racism in the workplace. Speaking at the New Financial Accelerating Black Inclusion research launch, he said: "The lack of black people in senior roles is something we see across the financial services industry." Only 10 of 297 (3.4%) of chairs, chief executives or finance chiefs have ethnic minority backgrounds in FTSE100 firms, according to research. "None of these are black, for ...

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