At CYBG, inclusion is at the heart of our culture. It’s written into our values and into our expectations of leaders. This is because we are striving to build a workforce which reflects the diversity of our customers, helping us to better understand their needs, make more rounded solutions, build stronger relationships, and tap into new ideas and innovation. As part of our inclusion strategy, we want to build a truly inclusive culture, where every colleague and customer feels they belong. This is why we are embedding inclusion within all the key drivers of cultural change including: performance; selection; development and the diversity of our Board members.
As a Board, we are committed to delivering our inclusion strategy and although new appointments are always based on merit, careful consideration is given to the benefits of improving and complementing the diversity, skills, experience and knowledge of the Board.
CYBG and the Board’s Governance and Nomination Committee will make sure that the Board is made up of competent colleagues with the necessary balance of diversity, skills and experience required to ensure that the Board can function effectively.
As part of our commitment to our inclusion strategy, we are building strong female representation at all levels within the Group - including at Board, executive and senior management levels. We are proud to have signed up to the Women in Finance Charter, which reflects our commitment to build strong female representation at all levels within our organisation. We have set measurable objectives for achieving gender diversity, and our progress towards achieving these objectives is reported to the Board.
As at 30 September 2018, the percentage of female representation on the Board was 27% (based on three female Directors and eight male Directors) which has risen to 31% (based on four female Directors and nine male Directors) following the appointment of Geeta Gopalan and Amy Stirling on 15 October 2018 and Debbie Crosbie stepping down from the Board on 19 November 2018. It is the Board’s intention that this proportion improves even further and our target is to achieve 33% by 2020, achieved through the natural cycle of Board renewal. Notwithstanding our gender diversity target, Board composition is based on meritocracy. CYBG also has a target of 40% women in senior management roles by 2020 as part of Women in Finance Charter commitments.
It is CYBG’s intention to broaden diversity on the Board beyond gender diversity alone, to reflect the communities in which the Bank operates and serves.
The Board Composition and Renewal Policy sets out the Board’s approach to inclusion. Under the policy, the Governance and Nomination Committee is responsible for reviewing the composition of the Group’s Boards to ensure that their membership is diverse. A separate Diversity and Inclusion Policy applies to all colleagues across the Group.