We believe in the benefits of a diverse workforce and are proud of our inclusive culture.
This is our fourth year of publishing our gender pay gap data. We are taking it one step further this year and are pleased to provide our first ever publication of our ethnicity pay gap. Only a handful of other firms operating in the Wealth/Asset/Investment Management sector have voluntarily published their ethnicity pay gap data, so we are pleased to be one of the first to do so and we encourage other businesses to do the same in the coming years.
We recognise that there is a lot more we could be doing as a business to promote and encourage diversity; we also recognise the need to be both pragmatic and aspirational in our approach to doing so. With our employee-led committee, #included, focusing on our diversity and inclusion initiatives, we continue to take further positive steps in the right direction.
Providing transparency on our gender and ethnicity pay gap is something we feel very strongly about. When the legislation came into force in 2017, requiring companies with over 250 employees to publish their gender pay gap report, we were not required to publish due to our headcount, but did so voluntarily. However, due to the growth of our business, we are now required to do so. We have also chosen to voluntarily publish our ethnicity pay gap and will continue to do so going forwards.
We remain transparent with our stakeholders (our clients, staff, parent company LGT Group, and society) about our current gender and ethnicity pay gap position and what we are doing to address this. We welcome you to read our closing conclusions of our reports to review the success of our diversity and inclusion strategies thus far which reinforce our aims and continue to attract, develop and retain the best and brightest from all walks of life.
"Our pay gap exists as fewer females hold senior positions within the firm, which is reflective of the financial services industry in general. However, I am confident that we pay our male and female colleagues equally for equivalent work and this remains a priority for our Remuneration Sub-Committee to review on an annual basis. We believe that diversity and inclusion makes business sense on all levels and want to be known for our positive and inclusive culture."
Ben Snee, CEO LGT Wealth Management