Mitesh Sheth, outgoing CEO for independent investment consultant Redington, has been awarded an MBE in the Queen’s New Year Honours lists for services to diversity and inclusion within the financial services sector.
Sheth stepped back from his role as Redington CEO at the end of 2021 after eight years at the firm.
During his five years as CEO, Sheth prompted major diversity and inclusion change and growth at the company. It includes a growth in employee numbers from 80 to over 200, and a firm-wide mission to help 100 million people become financially secure.
Under Sheth’s leadership, Redington reduced its gender pay gap. The firm has a current mean gender pay gap of 4.9% and a bonus pay gap of 3.5% which is lower than the industry average pay gap of 30%, according to PWC.
Over the past year, the firm has also aligned its default client investment advice with the Paris Agreement goals which includes helping clients transition to net zero by 2050 and offsetting historic carbon emissions.
Alongside his role at Redington, Sheth holds various diversity and inclusion positions as an advisory board member for the Diversity Project and member of the CEO sponsor group for the gender workstream, an LGBT Great #50for50ally, and an executive sponsor of the Race & Ethnicity workstream.
“I feel blessed to have been recognised for this important work we have been doing over the past few years. It has been a big collaborative effort and it needs to be as there is still a very long way to go,” said Sheth.
He added that the pandemic has further increased inequalities in society, which requires “less talk and more action”.
“As leaders we have a responsibility and opportunity to change ourselves, our teams, our organisations and over time the world. We must begin with empathy and compassion for our fellow human beings, create a safe space to talk and learn openly, be agile in failing fast and sharing lessons to build bridges for all those that are being left behind,” he said.
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