Financial Sector

The financial services sector encompases a wide range of institutions central to the functioning of the UK, from banks and real-estate firms to investment funds and insurance companies. The work of the sector can be, broadly speaking, split into two distinct categories: commercial and retail. 

Alongside the charity, legal, and STEM sectors, financial services is one of the core threads which run throughout the entirety of the UK, both in personal and professional spheres. There are clear opportunities for growth across the sector, with Mutual Recognition Agreements, over-the-counter derivatives, private equity and venture capital investment driving financial services forward. For this growth to be sustainable, however, there needs to be long-term planning and strong governance in place.

Our approach

Research-based. Evidence-driven.

Our services use evidence and research at their core to ensure we’re making the biggest impact.

Approved industry leaders

Inclusive Boards are corporate members of the Recruitment and Employment Confederation and our leadership programmes are ILM accredited. We’ve supported a range of organisations working to deliver on the ambitions of the sector.

Wrap-around care

We have a clear care service aimed at ensuring quality throughout the entire process, for all clients and candidates.

Diversity and inclusion experts

Diversity is at the core of who we are. We are a black-owned and black-led organisation with a diverse team, so we bring lived experience, empathy and understanding to our practice.

Our understanding of the Financial Sector

  • Our Understanding

    A changing world

    Financial services accounted for 8.3% of the UK’s total economic output in 2021, contributing £173.6 billion to the economy. One of the world’s largest international hubs for financial services, the UK holds 15% of international lending and borrowing. In addition, the UK holds £11 trillion assets under management, 44% of which are managed on behalf of international investors.

    However, the sector is not without its challenges. Cyber security remains a huge risk to financial services, one which continues to require management as the technological profile of the system evolves. Additionally, the cost of living crisis has already seen consumers increase credit card borrowing 13% which has significant implications for creditors’ risk management strategies.

  • Our Understanding

    Diversity in the sector

    Whilst there have been improvements in representation across the financial services over the past two decades, progress in many areas has stalled. Only 33% of senior management within the industry is female, the same as 2020.

    In other areas, including ethnicity and sexual orientation, the data for representation is sorely lacking. Reliable and complete data for ethnic diversity in the financial services simply does not exist. It is known, however, that fewer than 10% of management roles in financial services are held by individuals of minority ethnic background.

  • Our Understanding

    Our work in the sector

    We’re passionate about ensuring that the financial services sector is both diverse and inclusive. Our report ‘Inclusive Finance’ highlights the inequities experienced by retail customers and makes suggestions as to how to address them.

    Many of our placements have supported the financial capabilities of organisations right across the economy, including London’s Air Ambulance, Guy’s and St Thomas’ Foundation, London & Partners, and more. We’ve also supported international audit companies with board recruitment that ensures compliance with the operational separation requirements laid out by the Financial Conduct Authority.

Finance resources

All resources
Insights & Opinions

Inclusive Finance Summary Report - May 2022

At Inclusive Boards, we pride ourselves on the delivery of world-class reports that act as strong evidence-based reporting to support organisations as they develop their strategy. We collect data...

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Inclusive Boards Articles

5 CV Tips For Senior Leaders

Profile Statement: Open your CV with a short paragraph giving a clear picture of who you are, include an overview of your sector and role experience. Try including an intention...

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