DIVERSITY makes “good business sense,” according to Victoria Saporta, executive director of prudential policy at the Bank of England.
She discussed her expertise in regulation and central banking in an editorial for Financial News.
“When I entered the Bank, for most of the next decade there were no women leaders in the executive management structure of the economics departments.”
She also mentioned seeing very few women in regulation and central services throughout her 27 years at the bank, a field that is dominated by men.
Saporta decided to apply for a job in regulation, because one of the department heads at the Bank of England (BoE) is a woman.
She claimed that those who embraced inclusion and equality were the ones who really supported her throughout her time at the bank.
“There were people around that had power (all white men) that gave me opportunities and helped me navigate the organisation,” she added.
“First, diversity helps in recruiting and retaining the best talent…How would we do this well if we recruited from smaller, non-diverse pools only?”
The executive director also listed several benefits of diversity and inclusion for the Bank’s operations.
The editorial is a follow-up to yesterday’s Treasury committee meeting, when financier Baroness Helena Morrissey informed parliamentarians that gender parity in the Square Mile (The City of London is known colloquially as the Square Mile) still exists in “big pockets of no improvement whatsoever.”
*Financial News is a weekly financial newspaper published in London.
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