Morgan Stanley

UK Women in Finance Charter

Annual Update 2022

 

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 value Commit to Diversity and Inclusion.

 

Clare Woodman

CEO of Morgan Stanley International and Head of EMEA

“Proactively increasing the representation of women in senior management roles and nurturing the future pipeline is a key strategic priority for our global leadership team as well as for me personally.

Our core value ‘Commit to Diversity and Inclusion’ signals the strength of our intent to drive gender equity. Whilst we still have work to do, we continue to see progress in our recruiting and retention efforts with representation at all levels increasing during the last 12 months. This has been achieved through strengthening our talent pipeline with gender-balanced shortlists, proactive career discussions, diversity progress reviews with divisional and country heads, and robust leadership development initiatives.”

Charter Targets Progress

When we signed up to the Charter we aspired to 30% women in senior leadership, which we met two years earlier than expected. We remain steadfastly committed to growing this representation and as such, we have increased our target to achieve 35% female representation in senior management by 2025.

2022 Progress Highlights

  • Female membership on our main Morgan Stanley International Board has increased from 38% (2020) to 43% (2022).
  • Female representation on our EMEA Operating Committee stood at 40%.
  • Female representation across our overall workforce increased from 35% (2018) to 38.6% (2021).
  • Female representation across our overall workforce increased from 38.6% (2021) to 39.8% (2022).
  • 43.2% of UK Officer promotions in 2022 were women, compared to 36.6% in 2021.
  • Reduced our UK Gender Pay Gap median for the Morgan Stanley UK Group from 34.3 % (2018) to 29.8% (2021).
  • Included in the Times UK Top 50 Employers for Women 2022, in association with Business in the Community.
  • We are in the eighth year of our Global Return to Work programme, giving women the opportunity to re-enter the workforce after a career break.
  • Our percentage of women on UK Summer Analyst programmes was 53% in 2022, up from 50% in 2021.
  • Sponsorship of the four-year ‘Accelerating Change Together’ programme (ACT), instituted by Women in Banking and Finance (WIBF). This research will look to further identify why women continue to be under-represented at senior levels.
  • The Firm’s Multicultural Innovation Lab expanded to EMEA in 2022 - our award-winning in-house accelerator programme for women and multicultural startups. The inaugural class is comprised of an all-female cohort of entrepreneurs.
  • Co-Parent and Caregiver leave policies enhanced to include a minimum of 16 weeks paid leave and appointed a Head of Family Advocacy for ISG, EMEA to support new and expecting parents.

EMEA Diversity and Inclusion Governance and Strategy

Our EMEA Diversity Action Council provides thought leadership and acts as a catalyst to drive forward the overall EMEA diversity strategy in partnership with Human Resources, Diversity and Inclusion and the Talent teams. It meets monthly and is chaired by Juliet Estridge, Managing Director, EMEA Head of Research.

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 and for delivering on their annual diversity and inclusion plan.

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 monthly strategic dialogue with the EMEA Operating Committee.