Northern Trust Diversity, Equity, and Inclusion Strategy Commits to Advancing Inclusive Culture
Originally published in Northern Trust's 2022 Sustainability Report
We are committed to advancing an inclusive culture in which all individuals are valued, respected, supported and can fully participate in and contribute to our success. Our focus on DEI is rooted in our core values of service, expertise and integrity. Employees from diverse backgrounds with unique leadership styles and skill sets allow us to provide superior service to clients.
DEI STRATEGY
Our DEI strategy focuses on enhancing development programs and placement and advancing culture. It is designed to develop an inclusive workplace that reflects our values and allows us to grow our business. Enhancing the DEI dialogue and taking action beyond representation is critical to sustain inclusion.
ENHANCING DEVELOPMENT PROGRAMS AND PLACEMENT
We offer our employees equitable opportunities to participate in development programs focused on various stages of their careers. One area of focus is developing female leadership to help ensure long-term equality in our leadership teams.
Women in Finance Charter (U.K.) Northern Trust is a signatory to the Women in Finance Charter. Established by the HM Treasury in the U.K., the charter aims to bring companies together to build a balanced and fair financial services industry. We take great pride in aligning ourselves with this important initiative, and believe that such efforts are vital to our industry’s success. When we signed the charter in May 2017, we had 31 percent female representation in senior management. As of September 2019, we had 35 percent female representation in senior management, meaning we achieved our representation commitment more than a year ahead of the deadline. In November 2020 we announced a renewed target of reaching 38 percent by December 2023 in the U.K. As of September 2022, we reached 37 percent.
Women in Finance Charter (Norway) In June 2022, we signed Norway’s Women in Finance Charter. As a signatory, we remain committed to fostering gender balance and inclusion in our Norway branch. To recognize this, and given the small size of the Norway branch, we have set a target of 40 percent female representation across the business, and 30 percent females in senior leadership positions.
Women in Finance Charter (Ireland) In April 2022, we signed the Irish Women in Finance Charter. This is a collaboration between industry and government under the Ireland for Finance strategy, the government's blueprint for the development of the international financial services sector. Diversity is a key theme of the strategy. We set a goal of improving female representation at senior levels from 44 to 48 percent by December 2025. As of December 2022, we reached 45 percent.
