LONDON and NEW YORK, December 14, 2020 – Standard Chartered Bank has released its targets for ethnic representation in its UK and US senior leadership teams.
Diversity and inclusion are embedded in the Bank’s values and are an inherent part of its brand and culture. Standard Chartered believes that its staff should reflect the diverse markets in which it operates.
Today, the Bank has 129 nationalities within its workforce. Thirty one percent of the Board are of African and Asian nationalities and its Global Management Team comprises members from a variety of markets including India, US, UK, Singapore and Germany. Seventy one percent of all the Bank’s market CEOs are of African, Asian or Middle Eastern heritage.
In a joint statement, Tracy Clarke, Regional CEO Europe and Americas, and Torry Berntsen, CEO and Head of Corporate and Institutional Banking, Americas, who replaces Tracy as Regional CEO, Europe and Americas, from 1 January 2021, said: “We believe that diversity is a competitive advantage and that companies should be accountable for ethnic representation and equality for all team members. This is about being transparent and living up to our valued behaviours of doing the right thing and never settle.
“Having a workforce whose nationality and ethnicity are broadly representative of our markets and client base mean we can understand and support our colleagues and our clients better. It also helps us make fair decisions, remain open and transparent, and make sure that hiring decisions are always made based on a candidate’s skills suitability for the job. Setting these goals will help us to track and drive progress.”
Here are just a few of the initiatives currently progressing at the Bank in the Europe and Americas region:
- Launched targeted development programmes such as, mentoring, reciprocal mentoring, coaching and sponsorship.
- The Bank has committed to the 10,000 Black Interns campaign, enabling more opportunities for Black students in the UK.
- Signed up to Business in the Community’s Race at Work Charter, an initiative in partnership with the UK government, designed to improve outcomes for Black, Asian and minority ethnic (BAME) employees in the UK.
- Partnered with Leadership Enterprise for a Diverse America (LEDA) to support its mission of building a diverse talent pipeline for the next generation of leaders by helping exceptional US students from under-resourced backgrounds gain access to higher education and professional development.
- Establishing partnerships with a number of racially diverse schools and colleges in the US.
- The Bank leverages Futuremakers to work with the East London Business Alliance (ELBA) to support the Parity Project, a programme to support young Black men who disproportionately struggle with unemployment or underemployment.
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About Standard Chartered
We are a leading international banking group, with a presence in 60 of the world’s most dynamic markets and serving clients in a further 85. Our purpose is to drive commerce and prosperity through our unique diversity, and our heritage and values are expressed in our brand promise, Here for good.
Standard Chartered PLC is listed on the London and Hong Kong Stock Exchanges.