HSBC plans to double Black staff in senior positions by 2025
HSBC plans to double the amount of Black staff in senior roles at the bank in an attempt to tackle discrimination in the industry.
HSBC CEO Noel Quinn penned a memo to staff on the issue
In a memo seen by Reuters, HSBC chief executive Noel Quinn says Black employees have felt looked over.
The memo notes HSBC had meetings with Black staff members following the worldwide Black Lives Matter protests sparked by the killing of George Floyd.
Employees told the bank they felt it had not been strong enough or vocal enough about the issues they face.
In the memo, Quinn says HSBC will double the number of Black staff at director level by 2025. The note does not mention what proportion of the bank’s senior team are Black.
“The Black Lives Matter movement has rightly created more urgent demand for action,” Quinn says.
“I want us to be judged by the concrete, sustainable actions we take to be a more diverse and inclusive bank.”
Quinn was confirmed as HSBC CEO in March after leading the bank for seven months on an interim basis.
His memo comes amid similar pledges from other major UK banks. Earlier this month Lloyds Banking Group announced a Black representation target of 3% among its senior roles.
The bank will include candidates from a Black, Asian or minority ethnic (BAME) background for every executive director shortlist.
Lloyds employs 40 Black members of staff across its more than 7,000 strong senior management team.
