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At Man Group, we believe in diversity because it is the right thing to do, because it makes us a better place to work and it makes us a better business.
Our diversity & inclusion initiatives
Man Group is committed to diversity and inclusion, and has introduced a number of initiatives in recent years. We continue to research new and innovative ways to improve diversity at the firm. We focus on external and internal initiatives, partnerships and programmes that help us to attract and develop talent from more diverse backgrounds and to encourage diversity and inclusion.
We seek to attract and retain the best people, and foster a meritocratic environment, where everyone has the opportunity and support to reach their full potential.
Drive
Drive is our global internal diversity and inclusion network, run by our employees and sponsored by the senior management team. Drive is designed to inform, support and inspire our people. The network’s mission is to advance Man Group’s efforts in promoting inclusion and valuing diversity in all its forms, including gender, sexual orientation, ethnicity and disability. Its activities include events, training, resources and peer engagement across the firm. We also conduct diversity training at the senior management level. We believe that through creating a collaborative, supportive environment, where diversity is celebrated and individuals are empowered to achieve their potential, we can ultimately deliver the best solutions for our clients.
Women in Finance Charter
Man Group is committed to making progress on gender diversity and is a signatory to the Women in Finance Charter, a pledge for gender balance across financial services. Signatories pledge to promote gender diversity, including setting internal targets and reporting publicly on progress.
We have introduced a target of at least 25% female representation in senior management roles by December 2020. We are pleased to report a positive trajectory in relation to gender diversity at the firm, having seen an increase in the proportion of women in senior management roles from 16% in 2016 to 20% in 2017, and we are committed to continual improvement in this area in the years ahead. We feel that our current target is challenging yet achievable over the next two years, and are focused on meeting or exceeding this level.
We place great importance on the development of women at all levels of Man Group, to ensure that they are able to reach their full potential and to progress to senior roles. Introducing this target is therefore well-aligned with our efforts and initiatives to support and develop women within the firm.
The Man Charitable Trust
The Man Charitable Trust creates opportunities for positive change by giving grants to charitable organisations that promote literacy and numeracy. The Trust also provides opportunities for Man Group’s employees to invest their time and expertise in charitable activities and support the causes that are important to them.
Our long term recruitment strategy is focused on paving the way for potential future candidates for the financial services and technology industries; our efforts here focus on those in full time education, from school age to university. There is evidence that certain groups self-select away from qualifications in subjects that may more naturally lead to a career in finance and/or technology.
NSPCC Number Day
Sponsored by Man AHL through The Man Charitable Trust, the NSPCC’s annual Number Day is the largest nationwide numeracy event for children and young people in the UK. The initiative provides teachers with a wide range of fun, curriculum-focused activities which have been designed to promote enthusiastic attitudes towards numeracy, while encouraging schools to raise funds for the NSPCC.
European Girls’ Mathematical Olympiad
We are proud to sponsor the UK team at the European Girls’ Mathematical Olympiad, an annual international mathematics competition. The team is selected by the UK Mathematics Trust, a charity established in 1996 to advance the education of young people in mathematics.
The Young Women’s Leadership Network
Man Group’s employees in New York participate in various volunteering programmes with the Young Women’s Leadership Network (YWLN), which aims to nurture the intellectual curiosity and creativity of young women by supporting its network of all-girl schools in order to maximise academic achievement, social-emotional wellbeing, and post-secondary success.
Our recruitment efforts focus on reaching and attracting a diverse group of candidates. In addition to inclusive hiring practices, we engage in partnerships and programmes that provide access to and opportunities for under-represented groups.
Apprenticeship programme
We run an apprenticeship programme in partnership with City Gateway, a London focused charity that works to transform the lives of children and young people impacted by social and economic disadvantage and exclusion. The apprenticeship offers candidates valuable work experience, which helps them develop their careers, and a number of apprentices have gone on to take up full time roles at Man Group.
Sponsors for Educational Opportunity (SEO) London
We partner with SEO London, an organisation which works with talented students from ethnic minority groups and disadvantaged backgrounds for career success. Through our partnership, young people supported by SEO London are able to access a range of opportunities across Man Group’s talent programmes.
Bright Network
Man Group works with Bright Network, a career network that helps us identify the brightest students from all backgrounds, who may be suitable for career opportunities at Man Group. Bright Network places particular emphasis on ensuring diversity within their cohort as part of their mission to help the smartest students get ahead in their careers.
Returner programme
Man Group operates a Returner programme, in partnership with Woman Returners, with the aim of tapping into the predominantly female talent pool of professionals seeking to return to work following a career break. We are confident that, with the right support, more highly-qualified women will return to work and progress to or take up senior roles.
Maria joined Man GLG through the Returner Programme after a three and a half year career break. To read about her experience on the programme, please click here.
If you would like to express your interest in Man Group’s Returner programme, please contact us.
Girls Who Invest
Man Group, through Man Numeric, works with Girls Who Invest (GWI) to identify summer interns for our research team in Boston. The women participating in the GWI program are highly skilled university students who are not all from traditional finance or business backgrounds, and are given intensive training in these subjects by GWI before being placed in internships with asset management firms. Man Numeric has also worked with GWI to integrate quant-specific training into their curriculum and had members of their research team present in GWI’s intensive training sessions.
Our Paving the Way campaign
We are launching Paving the Way in 2018, our campaign to promote and improve diversity at Man Group. The campaign is designed to address the ‘lack of pipeline’ challenge, referring to the diversity of the pool of available candidates across all groups that may consider themselves to be in a minority or atypical profiles for our industry. We hope our campaign will enhance diversity across the firm over time, especially in senior and front office roles, and also support diversity within the financial services and technology industries more broadly.
Paving the Way encompasses Man Group’s initiatives focused on long- and short-term recruitment, as well as retention through enabling internal progression. The campaign additionally emphasises our enhanced focus on these issues, including research into new and innovative ways to foster better diversity. We have already seen some positive results from the efforts we have made in this area and we hope we can continue to drive positive change through our Paving the Way campaign.
It is our responsibility to ensure we are engaging in activities that drive real diversity and inclusion, and everyone has a role to play. Our goal is that lack of diversity becomes an irrelevant issue for the next generation, that they no longer need to talk about. We have a long way to go, but we will do everything we can to make a positive difference at Man Group, paving the way not just for gender diversity, but for everyone who considers themselves to be different. This won’t change overnight, but this is our time to act, to make a difference and to hold ourselves and the industry accountable.
Gender pay statistics
Man Group welcomes the requirement for employers in the UK to calculate and publish their gender pay gap, a measure designed to show the difference between the average earnings of men and women across an organisation.
The firm makes extensive efforts to ensure that men and women performing similar roles are paid the same. The gender pay gap figures reported by Man Group demonstrate the ‘diversity gap’ across our organisation and our industry, and we are aware that we need to make progress in this area. In particular, these figures highlight the lower representation of women in front office investment management roles and at senior levels within Man Group, which are typically the higher paid positions. For front office investment management roles, the variable performance-related bonus is highly correlated with fund performance and the delivery of results for clients. Our bonus pay gap therefore also reflects the lower female representation in this area.
We recognise that in order to attract and retain the best talent we must take further action, through the initiatives articulated in this report, to drive better gender diversity, particularly in senior and front office roles.
We are pleased to report a positive trajectory in relation to gender diversity at the firm, including an increase in the proportion of women in senior management roles, rising from 16% in 2016 to 20% in 2017. We have hired three female returners into permanent roles since the launch of our returner programme in 2016 and we had a 66% female intake for our 2017 graduate programmes across investment management, finance and operations.
We recognise that there is further to go and that it is our responsibility to address these issues. In 2018, Man Group is launching Paving the Way, a dedicated campaign to drive pipeline diversity and pave the way for under-represented groups across the firm and the financial and technology industries more broadly. We believe it is our responsibility to address factors which lead to a lack of diversity in our workforce, and this campaign represents a firm wide commitment to do so robustly and vocally.