23rd February 2018

Green Park Recruitment asks: How will Lloyds deliver on its BAME promise?

Raj Tulsiani, CEO and founder of Green Park Recruitment comments on Lloyds Banking Group’s BAME commitment and the need for the financial industry to recognise the importance of the diversity agenda.

He says: “Lloyds Banking Group has been vocal about the BAME agenda for some time and it’s good to see a UK bank recognising the need to reflect the diversity of its customer base within its leadership. The pertinent question now is how they will deliver on this promise.

"So far it appears they will focus on internal promotion, but Green Park’s research into BAME representation in the financial services industry indicates the leadership pipeline may not be sufficiently populated to hit this target.

"Therefore, a more diverse supply chain may be required. The largest financial institutions, notably Black Rock, are demonstrating clear leadership by putting pressure on organisations to address diversity.

"Investor and shareholder activism will only increase and UK banks need to act now to expand their internal and external talent pools to develop the leaders of the future.

"Otherwise they will be competing for the same limited group of candidates, which fuels high levels of group think and does very little to change the diversity and inclusion narrative into actual trust in them as institutions.”