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Pimfa launches diversity and inclusion awards

Pimfa launches diversity and inclusion awards

Pimfa has launched its first industry awards to recognise firms of all sizes which are actively promoting greater diversity and inclusion within the industry.

Entries for the awards can be submitted from today (20 May) and will remain open until August 17. 

In partnership with Worksmart and Coutts, entries for the awards will be judged by a group of industry peers alongside experts in diversity and inclusion from charities that Pimfa partner with. 

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Key names include Richard Wilson, CEO of Interactive Investor, Peter Moores, CEO of Raymond James, Andrew Croft, CEO of St. James’s Place Wealth Management, Jennifer Mathias, chief finance officer at Rathbones, Theresa Heaton, head of change at Brown Shipley, Matt Cameron, global managing director at LGBT Great and City Hive CEO & Founder Bev Shah, among others.

Liz Field, CEO of Pimfa, said: “Pimfa knows that there are firms of all sizes, at different stages, who are doing really great work towards creating a more diverse and inclusive workforce - but that many remain hidden or unrecognised.

"We want to recognise these firms and celebrate the value and importance of having a more diverse and inclusive profession and the difference it can make for clients, staff and organisations alike.

“Firms both large and small will have examples of initiatives they are working on to bring about change and make their own businesses, and our industry more broadly, more inclusive and diverse whether that is in schools' initiatives, or through recruitment practices.”

The awards come at a time when the Financial Conduct Authority’s chief executive Nikhil Rathi has outlined the regulator’s intention to focus on diversity and inclusion within financial services.

Last year the City watchdog also said it is to probe remuneration policies and diversity at the largest firms it regulates in the wake of the coronavirus pandemic.  

Field added: “There is also a wide variety of exceptionally talented individuals coming up through the ranks in our industry, who are helping their organisations provide support to diverse communities and clients or developing and leading innovation.

“We think it is appropriate to celebrate those people, and those organisations, that are working hard to ensure our industry better represents the wider society it aims to serve, and perhaps learn a little from those that are already making progress towards a more diverse and inclusive workforce along the way.”

The PIMFA Diversity & Inclusion Awards will include the following awards categories:

  • (Firm) Inclusive Talent Management (small firm: one – 50 employees)
  • Firm) Inclusive Talent Management (small/medium firm: 51 – 200 employees)
  • (Firm) Inclusive Talent Management (medium firm: 201 – 500 employees)
  • (Firm) Inclusive Talent Management (large firm: 501+ employees)
  • (Individual) Rising Talent
  • (Firm) Best D&I Initiative
  • (Firm) Best Approach to Wellbeing
  • (Individual) The Overall D&I Champion

Winners will be announced at the Pimfa Diversity & Inclusion Awards on October 20, 2021 in London and also online. 

These latest awards follow the ongoing push in recent years to increase diversity and inclusion in the financial services industry.

Earlier this year, the Chartered Insurance Institute also announced it is introducing a diversity and inclusion requirement to its adviser apprenticeship scheme.

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