We signed the Women in Finance Charter in 2017, setting ourselves an ambition of 30% Women in Senior Management. In 2020, we increased this to 40%, demonstrating our strong desire to drive change within our business and our industry more broadly.
Our target for meeting this goal was 2023, and despite significant attention on this topic over recent years, we acknowledge that we did not meet our 2023 targets on gender representation made in 2020. Targets are an important driver for change, and we are committed to maintaining the momentum that we have built here.
In 2023, we undertook a significant data analysis exercise to assess our position, review any blockers, and identify meaningful actions we can take to improve our position. Taking into account retention and recruitment considerations, we have extended our deadline of 40% women in senior leadership to 2033, and introduced an interim target for 2026 to ensure that we remain on track.
We have taken a similar approach with the introduction of a target for ethnic minority background in senior management of 30% by 2033, with an interim target of 22% by 2026 in line with the Parker Review.
As at June 2024, which is our annual reporting date for the Women in Finance Charter, women made up 26% of our Senior Management. This population includes Jupiter’s Strategy and Management Committee and their direct reports.
| 2026 Target | Actual 30 June 2024 | Actual 30 June 2023 | Actual 30 June 2022 | |
|---|---|---|---|---|
| % of women in Senior Management | >40% | 26% | 22% | 29% |
| % of women on the Jupiter Board | >30% | 29% | 29% | 30% |
| % of women employees | >40% | 38% | 37% | 37% |
Looking forward, we know that we have work to do, and we don’t expect progress to happen quickly given the challenges we face with senior recruitment, particularly into Investment roles. We know that to genuinely change the makeup of our business we need to invest in, nurture and retain our home-grown talent, and we’re constantly looking at ways we can better support women to thrive at Jupiter at all stages of their career.
In 2024, some of our initiatives have included:
- Conducting a qualitative review into the experiences of diverse talent at Jupiter
- Supporting a further two of our female analysts through the Diversity Project’s Pathway programme (one of whom has now been promoted to Investment Manager)
- Increasing the scrutiny on gender balances recruitment into senior roles, with the involvement of our CEO and HR Director in overseeing gender balanced shortlists at CV shortlist and interview stage
Next year, we will be working through the recommended actions from our report into diverse talent, which include enhancing line management training, introducing sponsorship, and assessing our promotions process.