Annual Update 2024
Increasing the representation of women in senior roles is a strategic priority for MUFG's EMEA Executive Team, with strengthening a culture of collaboration, belonging and excellence being one of the four pillars of our EMEA corporate strategy.
The commitment we have made in becoming a signatory of the Women in Finance Charter in 2017 remains a strategic imperative for MUFG, with progress against our targets governed by our EMEA Culture and EMEA Diversity, Equity and Inclusion Committees.
2024 Progress Update
Our aim has been to increase the proportion of women at senior management level to 25% by 2025, and we are delighted to have achieved this target one year early. We define senior management as all Managing Directors and Directors across our EMEA business. As of 30 June 2024, the proportion of women in this population is 25.6% which represents an annual increase of 2.9%.
Our new goal is to achieve 30% representation of women at senior management level by June 2027.
Key 2024 highlights include:
- Women represent 68% of our 2023 EMEA Analyst Programme, and 43% of our 2022 Programme
- Female representation on our EMEA Board has reached 40%, up from 20% in 2021
- Women make up 20% of our Executive Committee, an increase from 11% in 2022
- We have launched Bright Futures: Empowering Women the MUFG Way, a global leadership programme to invest in the organic development of our female talent pipeline in Banking and Markets. In addition, we have invested in the second year of Women in Tech programme to support the development and retention of female talent in EMEA Technology roles
- A new group has formed which focuses on providing a network and support to women in front office roles
EMEA Diversity, Equity & Inclusion Strategy and Governance
We recognise that having a comprehensive DEI strategy and programme that is supported by a robust governance framework is instrumental in enabling sustainable growth for our business.
Our DEI vision is to continue to build an inclusive, equitable and diverse workplace that reflects our society, where everyone feels they can succeed and be their authentic best. We have three strategic priorities:
- Increase diverse representation by attracting, developing and retaining diverse talent so we can better reflect the world in which we live
- DEI Learning, Development and Career Pathing to increase opportunities for personal growth and the achievement of career ambitions
- Build an inclusive culture where difference and individualism is valued as a strength and where every employee is able to be their authentic self at work
Developing a strong internal female talent pipeline is a critical component of our DEI Strategy, and is central to us achieving our Women in Finance Charter target. As part of Advancing DEI Learning, Development and Career Pathing pillar, we are focused on enhancing our internal talent pipeline. We use data to inform our strategies and actions plans, with gender diversity forming an important component of our Talent, Promotion and Development processes.
We are also focused on holding our senior leaders accountable. Our EMEA leadership objective is cascaded to all members of our EMEA Management Committee, and includes key DEI metrics including our Women in Finance Charter targets and improving our Gender Pay Gap. This objective forms a part of the performance scorecard for our senior executive team and is linked to executive compensation. To extend this further, our mandatory manager objective ensures that all managers are now evaluated on their performance as managers, considering factors including diversity, equity and inclusion.
There is more work to be done to ensure we meet and exceed our targets. Having set our new gender target over the next three years, we continue to focus on building a truly inclusive culture and ensuring an effective governance framework and robust accountability measures.