Annual Update 2023
Increasing the representation of women in senior roles is a strategic priority for MUFG's EMEA Executive Team, with fostering a culture of collaboration, inclusivity, diversity, empowerment and high performance forming one of the four pillars of our EMEA 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.
2023 Progress Update
Our aim is to increase the proportion of women at senior management level to 25% by 2025, and we believe we are on track to achieve this outcome. We define senior management as all Managing Directors and Directors across our EMEA business. As of 30 June 2023, the proportion of women in this population is 22.7%, which represents an annual increase of 2.3%.
Other key 2023 progress highlights include:
- Female representation on our EMEA Board has continued to increase to 40% in 2023, up from 33% in 2022 and 20% in 2021.
- Female representation on our Executive Committee increased to 20% (2023) from 11% (2022).
- Women represent 42% of our 2023 EMEA Analyst Programme, and 52% of our 2022 Programme.
- Delivered “Recruiting Diversely" training to HR Recruiters, Business Partners and COE partners to ensure effective and inclusive processes are in place, and to mitigate bias. This complements our “Managing Diverse Teams" training delivered to all managers as part of our “Manage For Excellence" programme.
- Diverse Talent Programmes: We have launched a Women in Tech programme to support female talent EMEA wide in Technology role; and a global Talent Sponsorship Programme to partner up senior Diverse Talent with executive sponsors globally. Our Senior Women's Forum has been shortlisted in the Women in Finance Awards by DiversityQ for the Outstanding Diversity Network of the Year Category.
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:
- 1.Increase diverse representation by attracting, developing and retaining diverse talent so we can better reflect the world in which we live
- 2.DEI Learning, Development and Career Pathing to increase opportunities for personal growth and the achievement of career ambitions
- 3.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 this, and is central to us achieving our Women in Finance Charter target. Advancing DEI Learning, Development and Career Pathing is one pillar of our recently launched DEI strategy. As part of this pillar, we are intently focused on enhancing our internal talent pipeline. We use data to inform our strategies and actions plans, with 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 ensures that all managers are now evaluated on their performance as managers, considering factors including diversity, equity and inclusion.
There is continuous work to be done to ensure we remain on track to meet our targets. As we embark on our revised DEI strategy, the next twelve months will see us focused on how we increase diverse representation, advance DEI learning, development and career pathing and on building a truly inclusive culture whilst ensuring an effective governance framework and continued effectiveness of our accountability measures.