France’s best six Asset managers join hands to increase women executive management teams

France’s best known six Asset managers have joined hands to encourage large companies in France to have at least 30% of their executive management teams made up of women by 2025.

La Banque Postale Asset Management, Amundi, Axa Investment Managers, Sycomore Asset Management, as well as Natixis Investment Managers’ affiliates Mirova and Ostrum Asset Management have created the thirty percent France Investor Group.

They aim to improve gender diversity within the SBF 120 index’s executive management teams.

The Group of six asset managers explained in a statement

“As investors, we want to encourage the sustainable growth of the companies in which we invest, and we are convinced that this can come from a better representation of women in executive management teams.”

The objective of this group is to cooperate with a community of investors around the issue of gender diversity, and generate open discussions with SBF120 companies.

They will also club with companies, heads of human resources, including CEO’S and member of the boards, on the issue of diversity within the management teams.

The thirty percent club is looking to develop a better understanding of how the criteria of gender diversity are considered in the recruitment and promotion process at all levels of the corporate hierarchy

The thirty percent group will ensure that companies have set clear goals relating to gender diversity and an action plan has been deployed to achieve them.

The members in the group will use their voting rights during general meetings to encourage companies to take concrete action plan.

Marie Fromaget, Patrick Haustant and Molly Minton, Members of France Investor group said

“Our strategy will continue to evolve over time and we hope that the SBF 120 companies will respond positively to our requests for dialogue so that we can best support them in this transition.”