UK Women in Finance Charter

Annual Update 2018


Supporting the progression of women into senior roles is a key strategic priority for Morgan Stanley’s senior leadership worldwide. The correlation between gender-balanced teams and improved decision-making, innovation and performance aligns with our core values of leading with exceptional ideas, putting clients first, and doing the right thing.


“We are proud that Morgan Stanley International was an early signatory of the HM Treasury Women in Finance Charter in 2016. Proactively increasing female representation in senior management roles and nurturing the future pipeline is a key strategic priority for our global leadership team. Tone from the top in cascading accountability to drive change divisionally is vital, combined with increased transparency of metrics and aspirational targets. The approach and mind-set of managers is equally important. We continue to invest in manager training at all levels, helping them hone their skills in giving feedback and proactive career development planning.”

Clare Woodman
CEO of Morgan Stanley International and Head of EMEA

“Significant effort has been put into strengthening the pipeline of promotion/recruitment candidates. Robust leadership programmes, proactive succession and career development planning and gender balanced short-lists have been instrumental. We have made good progress in 2018 on our Charter targets. We continue to be focused on improving this positive trajectory, whilst reiterating that sustainable change takes time.”

Jakob Horder, Head of Fixed Income EMEA & Becci McKinley-Rowe Head of UK Equity Sales Co-Chairs of the EMEA Diversity Action Council (DAC)

Charter Targets Progress

On signing the Charter, in September 2016 we committed to two numerical targets :-

  • Increase overall EMEA female officer representation (Vice-Presidents, Executive Directors and Managing Directors) by 2.5% by end of January 2019 to 26.5%. We are making very good progress against this target.
  • Increase overall EMEA female full-time and summer analyst hiring by 5% by 2019. We have achieved this ahead of schedule, increasing 2018 female full-time analyst hiring by 6% YOY.

To further increase UK female representation in senior management roles, we have now set a new over-arching female senior management target to achieve at least 30% by January 2023. We define senior management as Operating Committee members and their next two layers of reporting lines (direct/co-direct reports & UK based officers only).

We have set supporting internal divisional targets to help us maintain focus on the pipeline and improve female recruiting and retention metrics.

2018 Progress Highlights

  • Doubled the female representation on the MSI/MSIP Boards with two Executive Board Director additions from 18% to 36%.
  • One of two core investment banks in the Times UK Top 50 Employers for Women 2018 in association with Business in the Community.
  • Invested heavily in manager training, helping them improve their inclusive leadership skills, provide feedback and plan proactive career development.
  • Sixth year of our global Return to Work programme, now extended to Glasgow and Budapest in 2019.
  • Continued investment in our 3 high potential Womens’ Leadership programmes.
  • Hosted our inaugural global Women Managing Directors conference in September 2018. More than 350 women across the globe convened for two days with sessions focusing on the firm’s business & strategy, industry & geopolitical insights and accelerating women into leadership.

EMEA Diversity and Inclusion Governance and Strategy

Our EMEA Diversity Action Council (DAC) provides thought leadership and acts as a catalyst to drive forward the overall EMEA diversity strategy in partnership with our Human Resources, Diversity and Inclusion and Talent teams.

Additionally, each Managing Director member is held accountable by their Division/Region Head for ensuring that rigor and creative thinking are incorporated into their respective divisional diversity practices.

Regular meetings are held with Division/Region Heads, their Chief Operating Officers and Diversity Action Council members to review divisional progress on metrics, the diverse talent pipeline and specific diversity initiatives. Accountability is underscored by quarterly discussions with the European Operating Committee.