We're creating a more racially-balanced Refinitiv

Two weeks ago, I wrote here that it was time for business to move beyond expressions of support for people of colour and to take concrete action. I told you that Refinitiv would accelerate its plans to create a more racially-balanced workforce, and today I am outlining what we are doing to achieve that pledge.

First, Refinitiv is introducing a target that by 2024 a quarter of our executive leadership team, and those immediately reporting to them, will – as a combined group – be people of colour. Of them, we will ensure broad representation across Black, Asian, Latino and other non-white groups. To make sure we get there, we will be building on the work we are doing by bringing in outside experts to challenge and test our thinking so we make evidenced-based decisions.

We will accelerate and extend our programme to foster inclusive behaviours in our leaders – through extra coaching – so that the 1,000 most senior people at Refinitiv understand the racial context in which we operate and make more equitable decisions.

Our company is also taking a new approach to promoting talent, by sponsoring people of colour among that 1,000-strong group. We will also strengthen the pipeline of talent joining the company, with a focus on senior hires, apprenticeships for people of colour and a new approach to graduate recruitment.

We will favour suppliers committed to diversity. And across Refinitiv, we will root out bias against people of colour – whether that be in the way we hire, promote, pay or provide opportunities and greater visibility – just as we do in our work to eliminate gender disparities.

I know that these steps will make Refinitiv a fairer, happier and higher-performing company. It is a good day in our young company’s history and an appropriate one too. June 19 is ‘Juneteenth’: the day that marks the formal end of slavery in the United States, 155 years ago. Surely there is no more powerful a reminder that progress is possible, but that much progress still has to be made.