Women in Finance

Marsh McLennan welcomes people from all walks of life and is committed to accelerating the advancement of women.

Our 2021 Report

At Marsh and Guy Carpenter, collaboration is the soul of our enterprise. The diversity of our people is a fundamental pillar of our culture and, we believe passionately, that it is integral to our success. We believe that diverse backgrounds and experiences foster greater innovation and achievement – not only for the firm, but also for our individual colleagues and clients, and the communities we work in. 

Marsh and Guy Carpenter are proud to be a signatory of the Women in Finance Charter. As part of our commitment to the Charter, our goals are:

  • To achieve at least 25% female representation in our senior management population by 31st December 2023.
  • To achieve a year on year 50/50 gender split in our early careers population, including our graduate and apprentices programmes.  
  • To ensure recruitment searches for senior roles Senior Vice President grade and above – incorporate gender diverse candidate populations.
  • To link the achievement of diversity and inclusion targets to the overall business strategy and personal goals of our Executive Committee. These targets are to be assessed and measured as part of the year-end performance and compensation review.

We have seen an increase of 2.5% in our senior female representation during 2021, resulting in 23.3% of our senior management population now being female. This shows significant progress towards our 2023 target.

We continue to strive to make greater progress towards achieving our goals and our key achievements to date include: 

  • Our recruitment strategy and early careers intake are focused on ensuring the diversity of our talent reflects the broader population and clients we work with. In January 2021, 55% of our Marsh and Guy Carpenter graduate programmes were female and we introduced a summer internship programme focusing on those from a more socially diverse background. In September 2021, Marsh hired a further 65 graduates with 58% being female.
  •  We are continuing to focus on developing a future female leadership pipeline to build on the progress we have made including:
    • Undertaking a full review of our Marsh UK Emerging Female Vice President Talent colleague pipeline and their development plans
    • Identified female talent globally and put robust career development plans in place to support their ongoing development and achievement of their career aspirations at Guy Carpenter.
    • We have accelerated our partnership with the ISC to expand our specific high performing female talent development programmes.
    • Our Marsh UK female representation nomination is 70% for the MMC 2021 Global Diversity Leadership Programme, which focuses on developing female, black, Asian and minority ethnic (BAME), and lesbian, gay, bisexual, transgender (LGBT) talent.
    • Female representation on the current cohort of Guy Carpenter’s Global Leading For Impact Programme was 65%.
  • Our Gender focused Colleague Resource Groups (CRGs), whose mission is to support the advancement women’s careers by creating a gender inclusive workplace, where gender is not a barrier to fulfilling career or personal aims, continue to play a hugely impactful role in the organisation through various initiatives including:
    • Colleague Support: Provided a number of professional development and awareness raising events across the year.
    • New Joiner support: CRG engagement at all our ‘Welcome to Marsh’ induction roundtables.
    • Education & Awareness: Virtual Film Club launched promoting inspirational female role models and stories as well as regular Female Real Role Model Lunch & Learn sessions.
    • Client Event: Annual event focusing this year on ‘Beyond Lockdown – a time for positive change in workplace gender equality’.
    • Community Charity: Marsh Community Fund award to The Girls Network as well as supporting the mentoring programme,
    • Community engagement: #MotherWorks photography exhibition which celebrated the contributions and achievements of working mothers from diverse backgrounds and all walks of life,
    • Partnerships: Contributing members to a number of external networks in the financial services industry.
    • Culture: Rolled out a series of unconscious bias and courageous bystander training to all UK Guy Carpenter based colleagues with Leading Inclusively training scheduled for all Marsh UK People Managers this year to support a more diverse and inclusive business and culture.
    • Town Halls: A series of panel discussions across all regions globally dedicated to advancing the conversation around Diversity & Inclusion and enabling colleagues to share their personal experiences.

 

Chris Lay, CEO of Marsh UK & Ireland, and James Boyce, CEO of Global Specialties, Guy Carpenter, are our senior executive team members responsible and accountable for gender diversity and inclusion within our organisation. However, the full executive teams of both Marsh and Guy Carpenter have made specific commitments to advance our work across all areas of our diverse communities.

We are committed to accelerating the advancement of women, both inside and outside our firm.

We are making good progress as we continue to support greater gender parity across our organisation, yet recognise there is much work still to be done. As such, our mission is to ensure all our colleagues reach their own full potential and build a culture of mutual respect, dignity and diversity that benefits our colleagues, clients and communities, and helps drive wider industry change.