Lloyds becomes first FTSE 100 firm to set ethnic diversity target

Purvai Dua

Source: @Photoshot

Raise the proportion of BAME staff to 8 per cent of senior management

Britain’s biggest lender Lloyds Bank announced today that it plans to raise the proportion of staff from black, Asian or minority ethnic (BAME) backgrounds to 8 per cent of senior management.

The high street lender, which owns Halifax and Scottish Widows, estimates that 8.3 per cent of its 75,000 staff and 5.6 per cent of its 7,500 senior managers currently come from a BAME background.

The group also plans to increase the proportion of non-white staff to 10 per cent of its total workforce by 2020.

Fiona Cannon, the bank’s director of responsible business and inclusion, said: “We recognise that companies with diverse management teams perform better and have made a public commitment to create a truly inclusive workforce. It is our ambition to better reflect the customers and communities which we serve.”

The bank will set the targets as part of its new three-year ‘Helping Britain Prosper’ business strategy. This is the first of its kind target to be set by a FTSE 100 company.

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