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Sexism was pervasive in finance, says Virgin Money boss | Sexism was pervasive in finance, says Virgin Money boss |
(about 1 hour later) | |
Virgin Money boss Jayne-Anne Gadhia has told MPs that sexism was "pervasive" in the "very male culture" of finance. | Virgin Money boss Jayne-Anne Gadhia has told MPs that sexism was "pervasive" in the "very male culture" of finance. |
Ms Gadhia spoke of one example from her time at Royal Bank of Scotland when a senior woman was very upset because she was "expected to sleep with her boss". | |
She was speaking to MPs as part of their inquiry into women in finance. | She was speaking to MPs as part of their inquiry into women in finance. |
Ms Gadhia, who was at RBS from 2001 to 2007, added that the industry had improved at dealing with sexism in the workplace. | |
Parliament's Treasury Committee is looking at the barriers for women in financial services and the value of greater gender balance. | Parliament's Treasury Committee is looking at the barriers for women in financial services and the value of greater gender balance. |
It comes as the allegations against Hollywood producer Harvey Weinstein have shone a spotlight on sexual harassment in industries worldwide. | It comes as the allegations against Hollywood producer Harvey Weinstein have shone a spotlight on sexual harassment in industries worldwide. |
Women and men have been sharing their stories across social media using the hashtag "me too" to show the magnitude of the problem. | Women and men have been sharing their stories across social media using the hashtag "me too" to show the magnitude of the problem. |
'Pervading sexism' | 'Pervading sexism' |
Ms Gadhia, who is a government champion for women in finance, told the Treasury Committee there had been a "very male culture" at RBS which was "win-lose". | |
"Undoubtedly there was a pervading sexism where I remember a very senior woman being very upset one day telling me that she was expected to sleep with her boss," she said. | |
"That sort of thing of course means that there are issues for women in progressing through financial services," she said. | |
She also spoke of an experience from her own career, when she was rebuffed from a promotion in 1994 at the insurer Norwich Union, now Aviva. | She also spoke of an experience from her own career, when she was rebuffed from a promotion in 1994 at the insurer Norwich Union, now Aviva. |
"I was told by a very senior person at Norwich Union then, you have not got the characteristics necessary to lead a sales force," she told MPs. | "I was told by a very senior person at Norwich Union then, you have not got the characteristics necessary to lead a sales force," she told MPs. |
"And I said, what's that? He said the two things you're missing are a thick skin and a load of bull." | "And I said, what's that? He said the two things you're missing are a thick skin and a load of bull." |
While Ms Gadhia did not consider the remark to be sexist at the time, she said: "There was a definite alpha-maleness about that which I've never forgotten." | |
'Powerful' | |
In a government review last year, Ms Gadhia recommended that financial services firms should aim for greater equality in pay and to publish progress reports on diversity targets. | |
More than 140 financial firms - including RBS and Aviva - have signed the Women in Finance charter that came out of her review. | |
She told MPs on Tuesday that the industry had improved, and picked out two key areas which she said were "powerful". | |
Women are keener to talk about their own experiences, and men are backing efforts for more equality, she said. | |
She added that closing the gap between men and women would help to make UK businesses more productive. | |
RBS and Aviva have been approached for comment. |