Watchdog: Senior UK Banker Called Official of FCA ‘Little Lady’

    Photo via Financial Times

    It has emerged that during a recent visit, a top executive at one of the largest banks in the United Kingdom called one of the regulatory officials of the City watchdog a “little lady.”

    On Thursday, the most senior female regulator at the Financial Conduct Authority, Megan Butler, said that the #MeToo movement had produced an environment where it is no longer tolerable to belittle women at work.

    She stated: “One of our female supervisors was recently referred to as ‘little lady’ by a senior leader from one of the UK’s biggest banks.

    “My hope is that we can finally leave this sort of throwaway comment in the past.”

    Approximately 13 percent of the individuals that have the approval of the FCA are women, with the finance sector considered as one of the most male-dominated industries in the world. In the sector, the average gender pay gap is 37 percent, as compared to an average in the United Kingdom of 18 percent, with some banks reporting differences of about 50 percent for wages and nearly 80 percent for bonuses.

    Earlier this year, Butler informed reporters: “[There’s an assumption] that you won’t want to do any of those trips abroad or this challenging piece of work. It’s a slightly insidious drip that happened to a lot of people, and I would observe it still happens.”

    Gender diversity was able to soar to the top of the to-do lists of the banks because of the new rules that mean the large companies in the United Kingdom are required to publish their gender pay gap figures by April. Last year, Jayne-Anne Gadhia, the boss of Virgin Money, informed MPs that sexism was still “pervasive” across the Capital.

    Last week, Lloyd Blankfein, the chief executive of Goldman Sachs, was forced to admit to employees that there was still some “significant progress to be made” in terms of diversity following its report of a 72 percent mean gap for bonuses because of the lack of women working in senior roles.