RBC has confirmed its participation in the Women in Finance Charter across its businesses in the British Isles.

Royal Bank of Canada has pledged to promote gender equality across its workforce as well as the wider financial services industry after signing the Women in Finance Charter.

The aim of the Charter, published a year ago by the UK government, is to support the progression of women to senior roles and recognise the importance of gender equality across financial services organisations.

“Diversity and inclusion for innovation and growth is one of RBC’s core values, and this sits at the heart of our culture and our approach to client service,” said Harry Samuel, chairman of RBC’s European executive committee.

“Ensuring an inclusive workplace is vital to the continued success of our business, and the RBC leadership team is fully committed to supporting an environment where all our employees have the opportunity to thrive in their careers, regardless of gender, ethnicity, sexual orientation, disability or age,” Samuel said.

By signing the Charter, financial services firms commit to implementing the following:

1. Have one member of the senior executive team who is responsible and accountable for gender and diversity and inclusion;
2. Set internal targets for gender diversity within senior management;
3. Publish progress reports yearly against those targets; and
4. Intend to ensure that senior executive team pay is linked to delivery against those internal targets on gender diversity.

According to a global report by Oliver Wyman last June, it will take another 30 years for executive committees in the financial services sector to reach 30 per cent female representation at the current rate of progress.