Financial Services: Pay

HM Treasury written question – answered on 23rd December 2015.

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Photo of Lord Taylor of Warwick Lord Taylor of Warwick Non-affiliated

To ask Her Majesty’s Government what assessment they have made of the case for financial services executives being paid according to the number of women in senior roles.

Photo of Lord O'Neill of Gatley Lord O'Neill of Gatley The Commercial Secretary to the Treasury

The Government has asked Jayne-Anne Gadhia, CEO of Virgin Money, to lead a review into the representation of women in senior managerial roles in the financial services industry. One of Jayne-Anne Gadhia’s potential recommendations is to link variable pay for the Executive Team to reaching internal targets set by the organisation on the representation of women at a senior level.

The government welcomes Jayne-Anne Gadhia’s work to date and will consider the final recommendations when the review reports next year.

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