Promoting gender diversity in Luxembourg’s financial sector: the Women in Finance (WiF) Charter

The ABBL is proud to announce the Women in Finance (WiF) Charter, a pivotal initiative launched in March 2023 to enhance gender diversity within Luxembourg’s financial sector. The WiF Charter represents a firm commitment from its founders, signatory companies, and representative entities to foster gender equality and inclusivity across all levels of financial services organisations.

As Luxembourg continues to be a leading global financial hub, it bears a unique responsibility to set a positive precedent for gender balance.

Join us in championing gender diversity and equality within Luxembourg’s financial sector!

Benefits of joining the WiF Charter

Joining the WiF Charter provides numerous benefits to companies, including:

1. Enhanced competitiveness: Research consistently shows that diverse teams are more innovative and achieve better financial results. By promoting gender diversity, organisations can gain a significant competitive edge.
2. Networking opportunities: Signatories join a community of 76 organisations committed to advancing diversity and inclusion, offering invaluable opportunities for collaboration and exchange of ideas.
3. Access to thought leadership: Members gain exclusive access to insights and updates from the Ministry of Finance Luxembourg Gender Finance Taskforce, staying informed on the latest developments in the field.
4. Best practice sharing: Participation in events allows companies to share and learn best practices in promoting gender diversity.
5. Brand image enhancement: Aligning with the WiF Charter strengthens a company’s reputation among customers, partners, and stakeholders, showcasing a commitment to gender equality.

Core pillars of the WiF Charter

The Charter outlines several key actions for signatories, known as the Charter’s Pillars:

• Promoting women’s progression at all organisational levels.
• Appointing an Accountable Executive to oversee gender diversity and inclusion.
• Setting internal targets for senior managerial positions.

Supporting transparency by annually disclosing company targets and progress

Eligibility and application process

The WiF Charter is open to all regulated financial services firms in Luxembourg, including credit institutions, investment funds, insurance companies, management companies, and more. To become a signatory, interested organisations should complete the attached form and submit their application to the LSFI team at womeninfinancecharter@lsfi.lu.

Companies can join at any time, but to be included in the 2024 WiF Charter annual report, applications must be submitted by 30th September 2024.

Infographic highlights

This infographic provides a visual overview of key statistics and information regarding gender diversity in Luxembourg’s financial sector.

It highlights that women make up 50% of the workforce in the sector, yet only 20% hold managerial roles among WiF Charter signatories.

The graphic also underscores the gender pay gap and the significant steps required to promote women’s progression at all organisational levels.

• Women in Finance Charter Luxembourg

Founding organisations

The WiF Charter was established by a coalition of prominent organisations, including the ABBL, the Association of the Luxembourg Fund Industry (ALFI), the Association of Insurance and Reinsurance Companies (ACA), the Luxembourg Capital Markets Association (LuxCMA), the Luxembourg Finance Labelling Agency (LuxFLAG), and the Luxembourg Stock Exchange (LuxSE).

Any questions?

For more information, visit the dedicated WiF Charter webpage or contact us at collin@abbl.lu.