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The proportion of women in senior management roles across charter signatories rose from 33% to 35% in 2022, according to the Women in Finance charter.
Nearly three-quarters of the charter’s signatories increased female representation in senior management, while 6% maintained the same levels as in 2021.
Over half of the signatories are aiming to achieve a target of at least 40%, which the top quarter of firms have achieved for the first time since the charter began in 2016.
The Government launched the charter alongside think tank New Financial to encourage gender balance in the financial services sector.
The charter now has over 400 signatories, covering more than a million employees in the finance sector.
Signatories of the charter must monitor their progress against self-created targets for women in senior management and make annual reports to the Treasury.
Baroness Penn, Treasury Lords minister, said: “This report should serve as a marker of strong progress but also a reminder that we shouldn’t be complacent. I want to ensure that the charter continues to be a tool for keeping the sector competitive, innovative, and productive.”
