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Investment giants urged to do more to support LGBTI staff

Investment giants urged to do more to support LGBTI staff

Global investment management firms need to create more inclusive workplaces for LGBTI employees, according to a new report by industry body.

‘Bringing our Whole Selves to Work’ was published by the UK’s Investment Association in conjunction with LGBTI executive network OUTStanding.

Square mile: Investment managers need to catch up.

The report proposes 12 practical solutions for investment management firms to implement in order to support people coming out and being out at work.

These include demonstrating during the recruitment and induction process that the firm is welcoming of LGBTI employees. It offers examples such as using LGBTI symbols on corporate branding, and highlighting the existence of LGBTI networks in the workplace.

The report also advises firms to consider intersectionality, so that all aspects of the LGBTI agenda are valued equally.

Bring you best: IA report into asset managament sector.

Another step includes encouraging heterosexual and cisgender colleagues to participate in LGBTI networks and events to show them they have allies in the organisation.

IA members manage £6.9tln in assets, globally

The IA represents around 240 UK asset management which manage some £6.9 trillion of assets and employ 93,500 people across the UK.

One of the key suggestions of the report is for companies to ensure firms with foreign offices are aware of local laws and social attitudes towards LGBTI people.

It says companies need to consider how to support and protect employees around the globe, especially those who have to work or travel to countries where being LGBTI is still illegal.

‘I am passionate about helping the industry demonstrate to existing employees and potential new recruits that it is an LGBT+ friendly place to work’, said Chris Cummings, Chief Executive of the Investment Association.

‘This report, based on experiences of LGBT+ people across our membership, will debunk certain myths about LGBT+ employees and help organisations ensure they have the right framework in place to ensure they are welcoming places to come out and be out.’

The report was timed to coincide with London’s Pride march, which takes place on Saturday. The IA also changed its logo to the rainbow flag on all social media, email signatures and on its website in support of Pride month.

Showing its colours: IA changes logo to support Pride.

The traditionally conservative financial services sector has lagged behind other industries in providing support for LGBTI issues.

‘Everyone should feel able to bring their whole selves to work’ Cummings said. ‘Whilst legislation over the last decade has rightly given LGBT+ colleagues the rights and protections others can enjoy, culture and preconceptions don’t always follow changes to the law.

‘It’s crucial that we constantly look at how we can be more supportive of LGBT+ colleagues in our industry, and this report sets out some practical steps we can all take today to ensure that everyone feels comfortable being themselves at work.’

See also:

Gay men ‘significantly’ less likely to reach top manager positions