Skip to content 
Search

Latest Stories

Working from home ‘hampers diversity and inclusion efforts’

The Financial Conduct Authority and the Bank of England last week set out proposals for the mandatory reporting of data on diversity and inclusion to improve representation

Working from home ‘hampers diversity and inclusion efforts’

LAYOFFS, working from home and misguided tips on how to get ahead are hindering moves by financial firms on inclusion and diversity, British industry executives said last Wednesday (27).

The Financial Conduct Authority and the Bank of England last week set out proposals for the mandatory reporting of data on diversity and inclusion to improve representation.


Mitra Janes, global head of diversity and inclusion for investment banking at HSBC, said the shift to working from home that began during the Covid-19 pandemic had led to fewer ad hoc in-person interactions between people of different backgrounds and ethnicity that helped challenge stereotypes and biases.

Speaking at a City & Financial industry conference in London, Janes added that some black and other ethnic minority staff have felt more comfortable working from home, as they did not need to watch out for “microagressions”, referring to verbal or behavioural slights.

Since the pandemic, banks, insurers and asset managers mhave adopted a range of differing policies on specifying the minimum number of days that employees should spend back in the office environment.

“People are individuals, and myou need to understand who people are on an individual basis, and it’s so much easier when you meet them face to face,” said Dale Headley, director for corporate sustainability at Fidelity International, adding that his organisation supports a hybrid working from home model.

“For younger persons, there is tremendous importance to networking in the office. You don’t learn unless you are in there and seeing the managers.”

Diversity and inclusion efforts often fail when markets get tough and financial firms begin laying people off as it was sometimes unclear how they were selected, which highlighted the importance of networking, Headley said.

Janes added that junior staff and people from under-represented groups were sometimes told to find something in common with their boss, such as golf or wine tasting, to help get pay rises and promotions, but this was the wrong approach.

“Stop trying to fix the people and start fixing your processes,” she said, adding that firms needed to drill down into the “lived experience” of under-represented people to avoid employee surveys being skewed by the view of the majority

More For You

UK business district
The Canary Wharf business district including global financial institutions in London.
Getty Images

Bond yields ease following Starmer’s support for Reeves

THE COST of UK government borrowing fell on Thursday, partially reversing the rise seen after Chancellor Rachel Reeves became emotional during Prime Minister’s Questions.

The yield on 10-year government bonds dropped to 4.55 per cent, down from 4.61 per cent the previous day. The pound also recovered slightly to $1.3668 (around £1.00), though it did not regain all its earlier losses.

Keep ReadingShow less
modi-trump-getty
Modi shakes hands with Trump before a meeting at Hyderabad House in New Delhi on February 25, 2020. (Photo: Getty Images)
Getty Images

Indian exporters watch closely as Trump says trade deal with India likely

THE US could reach a trade deal with India that would help American companies compete more easily in the Indian market and reduce tariff rates, President Donald Trump said on Tuesday. However, he cast doubt on a similar deal with Japan.

Speaking to reporters on Air Force One, Trump said he believed India was ready to lower trade barriers, potentially paving the way for an agreement that would avoid the 26 per cent tariff rate he had announced on April 2 and paused until July 9.

Keep ReadingShow less
Kolhapuri sandal sales surge in India post Prada controversy

Customers shop for 'Kolhapuri' sandals, an Indian ethnic footwear, at a store in New Delhi, India, June 27, 2025. REUTERS/Adnan Abidi

Kolhapuri sandal sales surge in India post Prada controversy

INDIAN footwear sellers and artisans are tapping into nationalist pride stoked by the Prada 'sandal scandal' in a bid to boost sales of ethnic slippers with history dating back to the 12th century, raising hopes of reviving a struggling craft.

Sales are surging over the past week for the 'Kolhapuri' sandals that have garnered global attention after Prada sparked a controversy by showcasing similar designs in Milan, without initially crediting the footwear's origins.

Keep ReadingShow less
UK business district
The Canary Wharf business district including global financial institutions in London.
Getty Images

Economy grew 0.7 per cent in Q1 2025, fastest in a year

THE UK economy expanded at its fastest pace in a year during the first quarter of 2025, driven by a rise in home purchases ahead of a tax deadline and higher manufacturing output before the introduction of new US import tariffs.

Gross domestic product rose by 0.7 per cent in the January-to-March period, the Office for National Statistics (ONS) said, confirming its earlier estimate. This was the strongest quarterly growth since the first quarter of 2024.

Keep ReadingShow less
modi-trump-getty
Trump shakes hands with Modi during a joint press conference at Hyderabad House in New Delhi on February 25, 2020. (Photo: Getty Images)
Getty Images

Key issues in India, US trade talks

TRADE talks between India and the US have hit a roadblock over disagreements on duties for auto components, steel and farm goods, Indian government sources said to Reuters, dashing hopes of reaching an interim deal ahead of president Donald Trump's July 9 deadline to impose reciprocal tariffs.

Here are the key issues at play:

Keep ReadingShow less