Progress Together has launched a new sector‑wide campaign, Making the Invisible Visible, aimed at identifying and addressing the class‑based barriers that continue to shape progression and productivity across UK financial services.
The initiative, unveiled at the House of Lords last night, follows research showing that socio‑economic background still influences perceptions of leadership and career potential.
Recent findings indicate investors view privately educated CEOs as a “safer bet”, despite no evidence of stronger performance. Progress Together’s own analysis, covering more than 210,000 employees, shows high‑performing staff from lower socio‑economic backgrounds progress more slowly into senior roles despite equivalent job performance.
Sophie Hulm, chief executive of Progress Together, said the campaign is designed to help firms confront barriers that “too often remain unseen, unspoken and unmeasured”.
Alderman Vincent Keaveny CBE, Chair of Progress Together and former Lord Mayor of the City of London, said widening progression pathways had become “fundamentally an economic issue as much as a social one”.
Sheree Howard, executive director at the Financial Conduct Authority, said inclusive progression supports stronger governance and decision‑making as firms undergo rapid technological and workforce change.
Senior leaders from Aon, St. James’s Place and others also backed the initiative.
Jane Kielty, UK CEO of Aon, said firms that create visible pathways for people from different backgrounds are “more likely to retain high performers and strengthen leadership teams”.
Justin Onuekwusi, chief investment officer at St. James’s Place, said representation “strengthens aspiration, trust and performance across the sector”.
Baroness Mary Goudie said too much talent remains “unseen, unheard or underestimated because of background rather than ability”.
Progress Together was formed in 2022 in response to a government-backed taskforce, commissioned by HM Treasury and BEIS and is dedicated to progression and retention within financial services for people of all backgrounds.
Its latest 12‑month campaign will combine sector research, leadership storytelling, employee perspectives, policy engagement and practical employer action. It will also examine how AI adoption and workforce transformation are reshaping future leadership pipelines. Progress Together is inviting firms and employees to contribute evidence, insights and examples of effective practice.
Major organisations engaged in the launch activity include the FCA, Bank of England, Aon, AXA, Goldman Sachs, Morgan Stanley, Bloomberg, HSBC UK, NatWest, Deutsche Bank, Santander, Mastercard, Mizuho, Fidelity International and Standard Chartered.
Rhotic Media, publisher of Capital Pioneer, was recently recognised with a King’s Award for Enterprise for its work promoting opportunity across financial services.
