Our Commitment
TP ICAP is committed to building an inclusive place to work, where everyone has an equal opportunity to succeed within our Company.
As signatories of the Women in Finance charter, we have made a public commitment to increase the representation of women in senior leadership and management roles. As of September 2023, we have exceeded our mid-way target, having achieved 24.82%, and are on track to meet our 2025 target of 25%.
2023 Highlights
- We remain committed to being a diverse board, recognising the value it brings. We continue to meet the Parker Review and Hampton Alexander representation targets. As at 31 March 2024, 40% of our Board, and 30% of executive management, is female. We are working on developing a more diverse Senior Leadership pipeline.
- The Head of Inclusion is in place and the 3-year strategy has been approved by the board. As part of this, work has been carried out during the year to raise the profile of the Group’s employee networks, operating under the name TP ICAP Accord. We also now have in place regional Inclusion action plans and regional committees, as well as a Global Inclusion Council representing all areas of the business and chaired by Phillip Price, a board member.
- In 2024 we will be introducing a more consistent methodology to categorise our workforce to better understand pipeline across the organisation.
Women In Finance Charter
At TP ICAP, we are committed to building a diverse and inclusive place to work, where everyone – regardless of their gender, educational background, ethnicity, ability, age or sexual orientation – has an equal opportunity to succeed.
The Women in Finance Charter reflects the UK government’s aspiration to see gender balance at all levels across financial services organisations. TP ICAP signed the Charter in September 2018. At that time, we had 16% senior female representation within the business. Our target was to achieve 25% senior women in the business by the year 2025, with a midway target of 20% senior women by the end of 2022. As of September 2023, we have exceeded our midway target and are on track to meet our 2025 target.
We will continue to drive progress by executing a series of measures that include:
Recruitment:
- Working with our third-party recruitment providers to improve the gender balance of short lists for advertised roles;
- Continue to provide unconscious bias training for senior hiring managers;
- Introducing early careers and intern programmes focusing on diverse candidates.
Development: Support women to reach their full potential at every level across our business through:
- Mentoring initiatives;
- Support from our D&I Advisory Board; and
- Assistance from our Networks globally.
Culture: Strengthen an inclusive environment through:
- Formalising our agile and flexible working arrangements; and
- Increasing the visibility and acceptability of options for all employees with caring and parenting responsibilities.
Gender Pay Gap
- As signatories of the Women in Finance charter, we have made a public commitment to increase the representation of women in senior leadership and management roles. As of September 2023, we have exceeded our mid-way target, having achieved 24.82%, and are on track to meet our 2025 target.
- Our gender pay gap remains material given that we have more men than women in front office broking and senior management roles. Both these roles attract higher rates of pay relative to other positions. This therefore significantly increases average male pay – in the market and at TP ICAP – creating an overall pay and bonus gap.
- Increasing the number of women in senior and front office roles across the business is therefore central to closing our Gender Pay Gap over time. To this end, we are focusing our eff orts on three core areas – recruitment, development and culture. In so doing we will build a more diverse and inclusive workforce that will help drive our sustainable growth ambitions.
