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, Equity & Inclusion Initiatives
Man Group is committed to diversity, equity 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, equity 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, equity 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, neurodiversity 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.
NextTrend Articles
The NextTrend series is a collection of thought pieces that explore the latest industry trends and are written by Man Group's NextGen members. The initiative gives professionals at the firm the opportunity to research and report on a subject that sits outside of their day-to-day job. NextTrend is run by NextGen – one of Man Group’s Drive workstreams, which is focused on providing the next generation’s perspective.
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.
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 internship programme for young women.
#10000BlackInterns
We are a founding member of the #10000BlackInterns initiative, previously known as the #100BlackInterns initiative, which seeks to address the underrepresentation of Black talent in British financial services. Through this programme, we have committed to providing Black students across the UK with a unique opportunity into Man Group’s investment management and infrastructure internship programmes. We are proud to have interns from the programme that have progressed on to our graduate programmes.
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.
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.
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.
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.
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 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, equity and inclusion.
Our Diversity, Equity & Inclusion Report
Man Group’s Diversity, Equity & Inclusion Reports detail our commitment to support diversity, equity and inclusion within our business and industry, covering the breadth of our initiatives, partnerships and programmes.
Our report for 2023, published in March 2024, provides an insight into the activity that Drive and our collaborative group of employee networks have spearheaded, as well as our gender pay gap statistics.
Gender Pay Statistics
While current UK gender pay gap legislation focuses on the binary categories of men and women, we at Man Group acknowledge and welcome all gender identities. We encourage employees to self-declare their preferred pronouns as part of our commitment to fostering diversity in all its forms.
Our DEI efforts seek to improve and promote all forms of diversity at all levels. The gender pay gap has shown modest progress in our 2023 figures, with a slight reduction in the median hourly pay disparity and an increase in the representation of women in the lower and lower-middle pay quartiles. This progress stems from broader actions to address the pipeline of future leaders and improve workforce diversity. However, the mean hourly pay gap has unfortunately widened since the previous year.
We recognise that a ‘diversity gap’ still persists, particularly due to the underrepresentation of women in senior, higherpaid positions, especially in front office investment roles. This challenge is prevalent across the investment management industry, and we are resolute in addressing it through various initiatives, many of which are featured in this report.
We are committed to developing female talent and supporting them into more senior, front-office positions and, as such, anticipate changes in our statistics as we strive to closing the gender pay gap. Our efforts include coaching and mentoring high-performing women, particularly those on the path to senior management. We have implemented numerous initiatives, partnerships, and programmes to attract and develop women from diverse backgrounds, fostering diversity, equity, and inclusion across the firm and industry.
Our commitment is evident through our accomplishments, such as maintaining gender balance on our Board since 2020 and achieving 31% female representation in senior management as of December 2023, in line with our Women in Finance Charter pledge. While these are a step in the right direction, we acknowledge, though, that more efforts are required to eliminate the gender pay gap, a goal that calls for cultivating diversity within our workforce at every level and within every department.
Women in Finance Charter
Man Group has been a signatory to the Women in Finance Charter since 2018, pledging to promote gender diversity, including setting targets and reporting publicly on progress. Since signing the charter, we are pleased to have seen a positive trajectory in the proportion of women in senior management roles, which we define as Executive Committee members and their direct reports (excluding assistants). In 2018, 22% (up from 16% in 2016) of our senior managers were female, and we met our initial target of 25% female representation in senior management roles by December 2020. Subsequent targets were set for 27.5% by the end of 2022 and 30% by 2024. In 2022, we achieved 30% female representation on our Executive Committee but as of December 2022, had 26% (slightly down from the 27% reached in 2021) female representation in senior management roles more broadly. Following Luke Ellis retiring, and Robyn Grew being appointed CEO in 2023, our Executive Committees were restructured to be more streamlined. As at December 2023, we stand at 31% female representation in senior management roles. We have therefore met our 2024 target of 30% a year early. To ensure we keep challenging ourselves, we have set a new target of 32.5% of women in senior management roles by the end of 2024.
We remain focused on our initiatives to support and develop women at all levels across Man Group, to ensure that they are able to reach their full potential and progress to senior roles.
Race at Work Charter
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.
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.
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