Gender
At Close Brothers, we recognise that gender identity is broader than male and female and, although the government regulations do not require us to report in this way, we want to affirm that we welcome colleagues of all gender identities.
Gender Pay Gap Reports
Women in Finance Charter
At the outset of our Women in Finance Charter commitments, we set an initial target of achieving 30% female representation among senior managers by 31 July 2020. This milestone was successfully met and subsequently extended to a more ambitious target of 36% by 31 July 2025. However, as of July 2025, female representation at the senior manager level stood at 29%, falling short of our revised goal.
At the time of setting these targets, our definition of “senior manager” referred to managers of managers. Over time, it became evident that this definition required refinement to better align with industry standards and external reporting frameworks. We also sought to more accurately reflect the seniority and influence of the roles included.
In 2025 we adopted a revised definition of senior management as the Executive Committee ("ExCo") and ExCo minus one, (excluding Executive Assistants). Under this new framework, we have set a refreshed target of 40–45% female and 15-17% ethnic minority representation by 31 July 2027.
To support this ambition, we have launched a refreshed action plan, informed by detailed internal data analysis and external advisory input. This complements the ongoing implementation of our three-year Diversity and Inclusion Strategy, which continues to drive progress across multiple dimensions of inclusion.
While we did not meet our FY25 target, the combination of our revised definition, strategic actions, and long-term diversity and inclusion commitments positions us strongly to make meaningful and sustainable progress toward gender balance at senior levels.
Gender Balance Network
The Gender Balance Network was set up in 2021. Its mission is to identify and challenge imbalances to improve gender equality at every level across the organisation.
The Network focuses on three pillars to ‘ACT’:
- Advocate: Being the voice of gender equity at Close Brothers, by supporting the review of representation targets post 2025, contributing to gender pay gap reporting and initiatives addressing the gaps, and facilitating submissions for awards.
- Champion: Promoting an inclusive environment by increasing male allyship and enhancing engagement across networks internally and externally.
- Thrive: Taking proactive measures to support progression for all genders by helping the business identify and address barriers to progression, enhancing recruitment processes and reviewing internal policies.
The Network is a member of Gender Networks, a networking forum connecting volunteer leads from over 100 companies to share challenges, opportunities and peer support.
The Network is also spearheading our company’s partnership with charities such as Smart Works, who are dedicated to empowering women to reach their full potential, secure employment and change the trajectory of their lives.
30% Club
We partner with the 30% Club, an organisation focused on improving gender balance at senior level by providing cross-business mentoring for our talented women and other under-represented groups. Through the Mission Gender Equity and Mission Include programmes, hundreds of colleagues have volunteered as mentors and mentees.
Menoforum
Menoforum is our employee working group focusing on policy, education and cultural changes to make our workplace accommodating and welcoming to people experiencing the menopause. We have partnered with Henpicked, making it easier to get everyone talking about the menopause at work.
In 2025 we achieved the Menopause Friendly Employer accreditation, as well as previously winning the Award for Most Open Culture at the 2024 Menopause Friendly Employer Awards.
Ethnicity
In April 2020 we became signatories to the Race at Work Charter to help direct our actions around race equity and ensure that we have representation of ethnic minorities across all levels of the organisation.
Our current ethnic diversity monitoring data is at 85% completion for the Group and we are continuing to work on initiatives to make progress on this.
Cultural Heritage Network
The Cultural Heritage Network aims to improve cultural awareness and understanding so that, regardless of background, all colleagues feel a sense of belonging and are empowered to be allies to each other. Some examples include celebrations around Black History Month, Diwali and Ramadan. The Network also supports initiatives to increase ethnic minority representation at all levels and senior management in particular.
Professional Women of Colour is a working group sitting at the intersection of gender and ethnicity, and it creates learning opportunities and peer-to-peer support for ethnic minority women in the workplace.
LGBTQ+
At Close Brothers we are passionate about fairness and equality, and we’re committed to building an inclusive environment that enables all of our colleagues, including those who identify as LGBTQ+ to thrive.
Unity Network
Our LGBTQ+ Network brings together those who identify as LGBTQ+ and allies from across the Group. Our Pride celebrations are very popular every year, as are our LGBTQ+ History Month educational sessions and internal and external events.
Stonewall
We partner with Stonewall who have delivered specialist training on LGBTQ+ topics, such as transgender inclusion, and review our people policies to ensure they are inclusive to all. Our transgender policy was launched in 2024 in collaboration with the Unity Network and Stonewall.
Disability, Neurodiversity and Wellbeing
We recognise the importance of addressing the needs of all our colleagues and making our workplace accessible for all.
Wellbeing Network
Our Wellbeing Network focuses on supporting colleagues with disabilities and long-term conditions of all kinds, whether a physical, neurodivergent, a mental health condition or long-term illness. It drives forward our commitment to action and works to normalise conversations about accessiblity and wellbeing, in order to create an environment of understanding, inclusion and safety where our colleagues can grow and flourish. Notable achievements include training sessions for all colleagues and managers on neurodiversity awareness, and engagement campaigns for World Mental Health Day, UK Disability Pride and History Months.
Disability Confident Scheme
We are a Disability Confident Committed (Level 2) Employer in the Disability Confident Employer Scheme.
Veterans
Our pledge to the Armed Forces Covenant
As signatories to the Armed Forces Covenant, Close Brothers recognise the contribution that Service personnel, both regular and reservist, veterans and military families make to our organisation, our community and to the country.
In 2025, we were pleased to be awarded the Defence Employer Recognition Scheme Silver Award.
Veterans Network
Our Veterans Network's mission is to support the veteran community, showing appreciation for those who have served or are currently serving whilst making positive impact for Close Brothers through a diverse and inclusive culture. The Network leads our annual Remembrance Day event as well as educational activities for those involved in the hiring process. Members of the Network and colleagues fundraise for veterans charities in the UK every year.
Gender At Close Brothers, we recognise that gender identity is broader than male and female and, although the government regulations do not require us to report in this way, we want to affirm that we welcome colleagues of all gender identities.
Gender Pay Gap Reports
Women in Finance Charter
At the outset of our Women in Finance Charter commitments, we set an initial target of achieving 30% female representation among senior managers by 31 July 2020. This milestone was successfully met and subsequently extended to a more ambitious target of 36% by 31 July 2025. However, as of July 2025, female representation at the senior manager level stood at 29%, falling short of our revised goal.
At the time of setting these targets, our definition of “senior manager” referred to managers of managers. Over time, it became evident that this definition required refinement to better align with industry standards and external reporting frameworks. We also sought to more accurately reflect the seniority and influence of the roles included.
In 2025 we adopted a revised definition of senior management as the Executive Committee ("ExCo") and ExCo minus one, (excluding Executive Assistants). Under this new framework, we have set a refreshed target of 40–45% female and 15-17% ethnic minority representation by 31 July 2027.
To support this ambition, we have launched a refreshed action plan, informed by detailed internal data analysis and external advisory input. This complements the ongoing implementation of our three-year Diversity and Inclusion Strategy, which continues to drive progress across multiple dimensions of inclusion.
While we did not meet our FY25 target, the combination of our revised definition, strategic actions, and long-term diversity and inclusion commitments positions us strongly to make meaningful and sustainable progress toward gender balance at senior levels.
Gender Balance Network
The Gender Balance Network was set up in 2021. Its mission is to identify and challenge imbalances to improve gender equality at every level across the organisation.
The Network focuses on three pillars to ‘ACT’:
- Advocate: Being the voice of gender equity at Close Brothers, by supporting the review of representation targets post 2025, contributing to gender pay gap reporting and initiatives addressing the gaps, and facilitating submissions for awards.
- Champion: Promoting an inclusive environment by increasing male allyship and enhancing engagement across networks internally and externally.
- Thrive: Taking proactive measures to support progression for all genders by helping the business identify and address barriers to progression, enhancing recruitment processes and reviewing internal policies.
The Network is a member of Gender Networks, a networking forum connecting volunteer leads from over 100 companies to share challenges, opportunities and peer support.
The Network is also spearheading our company’s partnership with charities such as Smart Works, who are dedicated to empowering women to reach their full potential, secure employment and change the trajectory of their lives.
30% Club
We partner with the 30% Club, an organisation focused on improving gender balance at senior level by providing cross-business mentoring for our talented women and other under-represented groups. Through the Mission Gender Equity and Mission Include programmes, hundreds of colleagues have volunteered as mentors and mentees.
Menoforum
Menoforum is our employee working group focusing on policy, education and cultural changes to make our workplace accommodating and welcoming to people experiencing the menopause. We have partnered with Henpicked, making it easier to get everyone talking about the menopause at work.
In 2025 we achieved the Menopause Friendly Employer accreditation, as well as previously winning the Award for Most Open Culture at the 2024 Menopause Friendly Employer Awards.
Working Parents and Carers Ethnicity In April 2020 we became signatories to the Race at Work Charter to help direct our actions around race equity and ensure that we have representation of ethnic minorities across all levels of the organisation.
Our current ethnic diversity monitoring data is at 85% completion for the Group and we are continuing to work on initiatives to make progress on this.
Cultural Heritage Network
The Cultural Heritage Network aims to improve cultural awareness and understanding so that, regardless of background, all colleagues feel a sense of belonging and are empowered to be allies to each other. Some examples include celebrations around Black History Month, Diwali and Ramadan. The Network also supports initiatives to increase ethnic minority representation at all levels and senior management in particular.
Professional Women of Colour is a working group sitting at the intersection of gender and ethnicity, and it creates learning opportunities and peer-to-peer support for ethnic minority women in the workplace.
LGBTQ+ At Close Brothers we are passionate about fairness and equality, and we’re committed to building an inclusive environment that enables all of our colleagues, including those who identify as LGBTQ+ to thrive.
Unity Network
Our LGBTQ+ Network brings together those who identify as LGBTQ+ and allies from across the Group. Our Pride celebrations are very popular every year, as are our LGBTQ+ History Month educational sessions and internal and external events.
Stonewall
We partner with Stonewall who have delivered specialist training on LGBTQ+ topics, such as transgender inclusion, and review our people policies to ensure they are inclusive to all. Our transgender policy was launched in 2024 in collaboration with the Unity Network and Stonewall.
Disability, Neurodiversity and Wellbeing We recognise the importance of addressing the needs of all our colleagues and making our workplace accessible for all.
Wellbeing Network
Our Wellbeing Network focuses on supporting colleagues with disabilities and long-term conditions of all kinds, whether a physical, neurodivergent, a mental health condition or long-term illness. It drives forward our commitment to action and works to normalise conversations about accessiblity and wellbeing, in order to create an environment of understanding, inclusion and safety where our colleagues can grow and flourish. Notable achievements include training sessions for all colleagues and managers on neurodiversity awareness, and engagement campaigns for World Mental Health Day, UK Disability Pride and History Months.
Disability Confident Scheme
We are a Disability Confident Committed (Level 2) Employer in the Disability Confident Employer Scheme.
Social Mobility Veterans Our pledge to the Armed Forces Covenant
As signatories to the Armed Forces Covenant, Close Brothers recognise the contribution that Service personnel, both regular and reservist, veterans and military families make to our organisation, our community and to the country.
In 2025, we were pleased to be awarded the Defence Employer Recognition Scheme Silver Award.
Veterans Network
Our Veterans Network's mission is to support the veteran community, showing appreciation for those who have served or are currently serving whilst making positive impact for Close Brothers through a diverse and inclusive culture. The Network leads our annual Remembrance Day event as well as educational activities for those involved in the hiring process. Members of the Network and colleagues fundraise for veterans charities in the UK every year.
Intergenerational Inclusion
