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%.
2024 Highlights
- TP ICAP is committed to being an employer of choice. Our inclusive culture attracts and retains the best talent and enables everyone to flourish. This underpins the execution of our strategy, our ability to continue to innovate and our relevance to our clients.
- We continue to make progress towards our representation targets. As at 31 March 2024, 40% of our Board and 29% of our Senior Management Team are women. 10% of our Board and 16.2% of our UK Senior Managers are from the Black, Asian or other marginalised communities.
- We are working towards our global Inclusion Strategy as well as also place regional Inclusion action plans. This is tracked through the Global Inclusion Council. representing all areas of the business and chaired by Phillip Price, a Board member.
- We have continued to increase the impact and profile of the Group’s Employee Impact Networks, operating under the name TP ICAP Accord. We have networks focussed on Gender Equity, LGBT+, Disability, Cancer and Neurodivergence network, Parent and Carers, Veterans, Wellbeing and a Multi-Cultural network. Alongside Employee Impact Networks, we also have Business Resource Groups (such as an early careers forum and sports groups) and Community clubs (such as religious groups, chess, and crochet).
- In 2024 we introduced Count Me In, a global self-identification tool, to better understand our population, and in 2025 we will be embedding a more consistent methodology to using this insight.
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 2024, 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:
- Improving the gender balance of short lists for advertised roles;
- Continuing to provide unconscious bias training for senior hiring managers;
Development: Support women to reach their full potential at every level across our business through:
- Mentoring initiatives;
- Support from our Global Inclusion Council; and
- Assistance from our Employee 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.
