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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 Paving the Way Campaign
Paving the Way is our dedicated campaign to help address the “pipeline” issue, encouraging a more diverse range of talent to apply for positions at Man Group and across the investment industry more broadly. We believe it is our responsibility to address factors which lead to a lack of diversity in our workforce; this campaign represents our firm-wide commitment to do so robustly and vocally, and is well aligned with our longstanding charitable focus on promoting literacy and numeracy at a grassroots level.
We hope these efforts will not only attract more diverse candidates, but support them into senior positions and front-office roles. Under the banner of Paving the Way, we focus on a number of internal and external initiatives, partnerships and programmes that help us to attract and develop talent from more diverse backgrounds and encourage diversity and inclusion.
At Man Group, we want everyone to know what we stand for, which is an absolute and unequivocal commitment to inclusiveness. We want to be upstanding, rather than bystanders, in the drive to build a more diverse and representative investment industry. It’s a team effort that requires commitment and collaboration. I’m proud of what we’ve achieved so far, but I know there is still work to be done and I’m convinced that this firm and our industry will be better in the long-term because of the steps we are taking today.
Our Diversity & Inclusion Initiatives
Man Group is committed to diversity and inclusion, and has introduced a number of initiatives in recent years. 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 across our firm and industry.
We seek to attract and elevate the best people, and foster an 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 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.
We are committed to paving the way for potential future candidates in the investment industry. 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. Our 'next generation' efforts focus on those in full time education, from school age to university.
King’s College London Mathematics School
We are a charitable supporter of King’s College London Mathematics School ('King's Maths School'), a specialist state-funded school for gifted mathematicians aged 16-19 that is run in partnership with King's College London. The school brings high quality mathematics education to students who have a particular aptitude and enthusiasm for the subject, and it offers a genuine access route for students who come from backgrounds that are often underrepresented in mathematical sciences.
Man Group's charitable contributions support four areas of activity to help advance the education of the school’s students: 1) developing a network between new mathematics schools across the UK; 2) helping the school continue to attract highly qualified, outstanding teachers and staff; 3) establishing an alumni programme to benefit existing and future cohorts; and 4) building new partnerships and improve external relations within the academic community and industry. We have also facilitated an engagement programme between our colleagues and the students at King's Maths School, which includes bespoke internship and work experience programmes; access to the firm’s events, including machine learning and technology seminars; as well as a speaker programme led by Man Group employees.
North Carolina Agricultural and Technical University
Through Man Numeric, we have established a partnership with North Carolina Agricultural and Technical University (NC A&T), a predominately African American university located in Greensboro, North Carolina. Our two-pronged approach to this partnership will include career awareness, helping students to learn more about the investment management industry, and a hackathon event that will challenge the students to utilise their technical and collaborative skills. Other potential initiatives are opportunities for hiring interns and graduates and mentoring of students by Man Group staff.
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 for a diverse pipeline of young people from low income communities.
#100BlackInterns
We are a founding member of the #100BlackInterns initiative, which seeks to address the underrepresentation of Black talent in British financial services. Through this programme, we commit to providing talented Black students a unique entry point into Man Group’s investment management internship programme. We are also a part of #10000BlackInterns and have committed to offering at least one internship within our Infrastructure teams to a Black candidate, starting in the summer of 2022.
Girls Who Invest
Man Group, through Man Numeric, sponsors Girls Who Invest (GWI) and works with them 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.
Codman Academy
Man Numeric partners with the Codman Academy, a charter school known for fostering diversity. Billed as ‘CodeMan Academy’, Man Numeric hosts students one evening a week for ten weeks to teach them about how mathematics, coding and statistics are applied in the real world, and particularly in the realm of finance. The lessons include activities such as an introduction to basic coding logic through a tic-tac-toe simulation, using statistics to identify the NBA’s best basketball player and the first steps to writing a video game character.
Girls Are INvestors (GAIN)
GAIN seeks to inspire young women in school and university to explore careers in investment through a programme of talks from female role models from the industry and access to helpful resources. We have partnered to support their existing work and also participate in their newly-launched internship programme for young women.
Disability Confident Committed
Man Group has joined the UK Government’s Department for Work & Pensions as a Disability Confident Committed employer, which seeks to ensure that disabled people have opportunities to fulfil their potential in the workplace. This scheme will further our understanding of disability and provide opportunities to those with disabilities in the investment industry.
Speakers4Schools
Several members of our Senior Executive Committee and our Board of Directors work with Speakers4Schools by offering their insights, experiences and expertise to help state schools, colleges and academies inspire their students and broaden their horizons. Wherever possible, we follow the speeches made in schools with Man Group office visits to see our workplace in action and to hear from more of our employees. Speakers4Schools also works to encourage students at schools in social mobility ‘cold spots’ to apply to our Insights Days and Programmes.
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.
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 in our industry.
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.
The Partnership
Man Group engages with The Partnership, Inc., in Boston. The Partnership works with organisations to build racially and ethnically diverse leadership pipelines in a myriad of ways, including through its job board, consulting services and range of Leadership Development Programs.
Our Diversity & Inclusion Report
Man Group’s Diversity & Inclusion Reports detail our commitment to support diversity, inclusion and equality within our business and industry, covering the breadth of our initiatives, partnerships and programmes.
Our report for 2020, published in March 2021, provides an insight into the activity that Drive and our collaborative group of employee networks have spearheaded through the course of an unprecedented year, as well as our gender pay gap statistics.
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.
Our gender pay gap figures for 2020 continue to demonstrate the ‘diversity gap’ evident in our organisation and more widely across our industry, highlighting the lower representation of women in higher paid, senior positions and in front office investment management roles. Although we have seen an increase in female representation in senior management roles, we remain focused on addressing the disparity in gender distribution within our business. We are committed to ensuring there is not a gender imbalance when it comes to compensation for similar roles and, alongside our ongoing diversity initiatives, we have a compensation monitoring process in place, which reviews pay across the firm globally to ensure that it is fair and proportionate.
In recent years, we have been pleased to see a positive trajectory in relation to gender diversity. We have seen the proportion of women in senior management roles rising from 20% in 2017 to 25% in 2020, as well as an 11% increase in female representation on our Executive Committee between 2018 and 2020. Since the launch of our Returner Programme in 2016, we have taken on 12 returners, hired nine into full-time positions and have another three women currently on the programme spread across our business.
Although we are encouraged by the progress so far, we are aware that fostering a truly diverse and inclusive business takes time. Through the work of our employee networks and diversity initiatives, we are actively seeking to address the issue of underrepresentation within our firm and our industry, not only of women but also across the spectrum of minority groups, and are confident that, over time, we will see a narrowing trend in our pay gap figures as our initiatives effect change.
Women in Finance Charter
We have been a signatory to the Women in Finance Charter since 2018. Signatories to the Charter pledge to promote gender diversity, including setting internal targets and reporting publicly on progress.
Upon signing the Charter, we set a target of 25% female representation in senior management roles by December 2020. We have seen a positive trajectory in the proportion of women in senior management roles increase from 16% in 2016 to 20% at the end of 2019. As of September 2020, we are pleased to report that we have achieved our target of 25%. Attaining this target is well-aligned with our efforts and initiatives to support and develop women within the firm, and we will now target 27.5% female representation in senior management roles by the end of 2022, and 30% by the end of 2024.
Race at Work Charter
The events of 2020 again underscored the significant structural inequalities that exist for Black and other ethnic minority communities on both sides of the Atlantic. As ever, we remain committed to, and focused on, increasing diversity in all its forms within our firm and industry, and have specifically sought to increase opportunities for Black and ethnic minority employees through a range of targeted initiatives.
We are proud to be a signatory to the UK’s Race at Work Charter. As a signatory, we are committed to taking practical steps to ensure our workplace is tackling barriers that Black and minority groups face in recruitment and progression, and that we foster a more inclusive environment for all our people. We commit to following the Charter’s five calls to action, which aim to ensure that ethnic minority employees are represented at all levels in an organisation.
Our commitment to equality and inclusiveness is integral to our culture and success, and we continue in our drive and commitment to building a diverse and representative firm.