Women in Finance Charter
A pledge for gender balance across financial services
In June 2018, UniCredit joined the UK HM Treasury Women in Finance Charter to give its full support to help improving gender diversity in the financial services sector in the UK and worldwide. Joining this initiative is part of UniCredit's Group-wide Diversity Action Plan (launched in 2017) that follows a number of decisive actions already taken by the Bank to reach a more balanced gender distribution at all organisation levels through specific initiatives related to: recruitment and talent professional development, remuneration, work-life balance, education.
About Women in Finance Charter
The Charter is a commitment by the UK's HM Treasury and signatory firms to work together to build a more balanced and fair industry. Firms that sign up to this Charter are pledging to be the best businesses in the sector. The charter engages financial services firms to support the progression of women in senior roles, signing the declaration and committing to 4 topics.
By signing the Charter UniCredit is committed to:
Senior executive accountable for gender diversity
Have one member of our Senior executive team who is responsible and accountable for gender diversity and inclusion.
Gender diversity targets in senior management
Set up a target of 20% (+/-1%) women in the Senior Leadership roles (Executive Vice Presidents and above) by 2022.
Senior executive pay linked to gender diversity targets
Variable remuneration for Senior Leadership roles is based on a subset of financial and non-financial KPIs link to the priorities and annual strategies of the Group/Division. Among non-financial measures, since 2017 a mandatory KPI on "People" is cascaded to all Senior roles, including targets on gender pay gap/balance and on gender diversity initiatives in general. From 2019, to support the 2022 commitment of women % in senior management roles, specific targets will be cascaded to selected Top Management roles.
Publish progress annually against these targets
In terms of keeping track of progress, UniCredit monitors female representation in the Bank's workforce in the context of organisational hierarchy twice a year at the Group level through the Gender Balance Dashboard. As part of joining the Charter it is committed to also monitor the progress against the Diversity and Inclusion targets and to publishing them externally.
Furthermore, details on the structure of UniCredit's workforce are published annually in the Group Integrated Report.
UniCredit accepts that further progress is needed with respect to diversity and gender balance and additional targets have been set up, both at Group level and locally, such as: increasing the number of women in promotion process in leadership roles, monitoring also the short lists distribution and providing equal opportunities to women in the recruitment process.
Over the years, UniCredit has been consistently investing into the development of our leaders (in all the geographies where we are present) with an ambition to raise their career aspirations, empower them with the skills and know-hows to aim at and achieve more.
We involve our employees in various leadership programs and specific individual development initiatives, targeting at an equal representation of female and male in the programs with an idea to provide them with an equal base for growing into the higher roles in the organisation.