“If you build it, they will come”, isn’t just a quote froman 80s classic, it’s a mindset that employers should take to heart. If youcreate the right environment, the audiences, customers, employees or othersthat you want to attract will come to you. It’s an idea that The FutureLaboratory, the setting for our annual summer social has taken to heart,creating a bee-friendly haven, complete with plants and flowers to attractnature’s hardworking pollinators. So how can the City learn from this andcreate the right environments to attract, retain and celebrate our ownunderappreciated workers bees – the women in the industry?

Interestingly, the bees were in an angry swarm when we met,a state that perhaps reflects the current climate in the City noted Bev Shah.An angry swarm is gathering because despite numerous conversations, therhetoric around diversity isn’t really changing.

What would our speakers – Wendy Appleton, Head of Sales – UKWholesale and Retail for Pictet Asset Management, Jeannie Dumas, Head ofCorporate Communications and Shareholder Relations for Hermes, and JackieMills, Director of International Marketing for Eaton Vance make of thisassertion as they took the stage, or in reality the winding plant-filledstaircase to address the crowds?

All three women had followed varied and unusual paths into andupwards in the City. Wendy began as a financial adviser, and an on-the-roadconsultant before taking the professional examinations. Jeannie’s path includedworking in the American political arena before she moved into communicationsand Jackie initially was pursuing a career as a translator.

The speakers offered mixed and candid opinions on diversityin the City. While there was some optimism around increased gender pay gapreporting, the rise of diversity officers and the fact that there are morewomen in senior positions than ever, there was a general consensus and concernabout whether many diversity initiatives were more about lip service and boxticking that actually bringing about real and meaningful change. As Jackie putit, more work needs to be done to ensure that firms and individuals alike arebeing authentic in terms of how they are embracing diversity and inclusion.

Take positive discrimination for example. Speakers expressedconcerns about how this could damage meritocracy, and the importance ofopportunities being given to underrepresented groups because they are the best,and not simply because of diversity quotas. Importantly, this was not how individualswanted to progress or be seen to. However, with the City so skewed in terms ofrepresentation, was it not necessary to ever so slightly ‘rig the game’ as Bevput it, to make things right?

So, what could organisations do to try and address the lackof representation in the industry? Encouragingly all speakers spoke positivelyabout the various mentoring, internship and training programmes that theirfirms have implemented, with a number of these programmes focusing specificallyon young people from diverse and disadvantaged backgrounds. It was widelyagreed that one way to bring more diversity to the industry is by exposing theasset and investment management industry to people who would normally neverhave known much about it. The onus with this is firmly with our industryleaders who need to take the reins in supporting and promoting theseinitiatives that expose the industry to a more diverse talent pool.

Before it was time to enjoy networking alongside thedelicious street food that was waiting to be served, each speaker was asked togive a piece of advice to their younger self. Don’t settle, demand that payrise and the treatment you deserve thought Jeannie. Work hard, and embrace yourstrengths and differences was Jackie’s stance. As for Wendy? “Drink less andexercise more!”

While the event was a huge success, there certainly wasn’tany time to rest on laurels. The following day, the City Hive management teamwere off to the Portfolio Adviser awards where Bev and Mandy had judged thefirst ever ‘Best Diversity Initiative’ award. Congratulations to LGT Vestra whotook the Platinum prize and Brooks Macdonald who scooped the gold.

City Hive would like to thank our summer event sponsorsEaton Vance, Hermes and Pictet Asset Management. It takes a huge amount ofcourage to support an event like this and we are grateful for the ongoingcommitment to a more balanced industry.