CFA Institute has launched the UK edition of its voluntary diversity, equity and inclusion (DEI) code for the investment profession (DEI Code).
The initiative is tailored to aid investment organisations in the UK, irrespective of their size, to amplify their commitment towards DEI.
After the introduction of the DEI Code in the US and Canada, the UK edition acknowledges the varying interpretations and importance of DEI across different markets. CFA Institute has set a precedent by becoming the first signatory to this UK version of the DEI Code, emphasising its dedication to the cause.
Firms that become signatories of the DEI Code commit to six metrics-driven principles. These principles are focused on widening the scope of diverse talent, refining investment outcomes, creating conducive working environments and heralding a wave of positive transformation for future generations.
The principles highlight the enhancement of the diverse talent pipeline and the design and maintenance of inclusive hiring practices, said the CFA Institute, stressing the importance of creating an equitable environment for promotion and retention, thereby reducing potential barriers to career progression.
A significant emphasis is also laid on leadership roles to proactively promote DEI and continually improve its outcomes in the investment sector. Furthermore, the DEI Code encourages firms to utilise their influence to promote measurable DEI results. It mandates the periodic measurement and reporting of DEI metrics to senior stakeholders and the CFA Institute.
Sarah Maynard, ASIP, global senior head, external diversity, equity & inclusion, CFA Institute, said, “The UK DEI Code has been designed so organisations can frame complex behavioural issues as they build on their efforts to address DEI challenges in the investment industry. It incorporates UK variations in demographics, culture and societal norms and offers a structure that supports employers, DEI leaders and HR professionals in building impactful and measurable DEI strategies.”
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