Enabling growth and enhancing competitiveness: Annual report and accounts 2022-23

Over the past year, the wider social and economic context within which our industry operates has remained fraught. On the back of the Covid-19 pandemic, the economic fallout of Russia’s war in Ukraine and a protracted period of domestic political instability, the macroeconomic backdrop has been challenging and the consequences have impacted people up and down the country.

Throughout this period, our industry has continued to play its role to support customers, enable the wider economy and drive economic growth.

We have been very much focused on delivering against our strategy to achieve strong outcomes for our members focusing on our five key priorities:

  • Trust and reputation
  • Long-term competitiveness
  • International
  • Regions and nations
  • Green finance and sustainability

Our recent member survey showed that we continue to make good progress, with near record high ratings from members on our effectiveness at building relationships with policymakers, officials and regulators and providing a voice for the UK-based financial and related professionals services industry. We also achieved record ratings for the alignment of our objectives and activities with members and the range of products and services available through membership. 

You can read more about our outcomes and performance over the last year in our annual report. You can also find out more about about outcomes across our strategic priorities by following the links in the boxes below.

We have continued to exceed our targets for the Women in Finance Charter, with our latest report (running to the year ending March 31, 2023) showing that 67% of our senior leadership team (SLT) were female – our target is to achieve at least a 40:60 female:male ratio across our SLT. This is a 12% increase in female representation on our SLT against the previous year.

As part of our signatory to the Race at Work Charter, we continue to monitor and report ethnicity data from our colleagues. Of the 43 employees included in our latest data capture, as reported in our FY2022-23 annual report, the majority, 67%, are from a white background (up 6% year-on-year), 9% are from a ‘Black’ or ‘Asian’ background (down 11%) and 12% identified as ‘mixed-Asian’, ‘mixed-Black’, mixed-White’ or ‘other’. This data continues to be used as an ongoing baseline and informs HR objectives for the coming financial year. Enhancing our ethnic diversity remains an important focus, including through more inclusive recruitment strategies. We will also continue to expand our supply chain to include more ethnically diverse-led enterprise owners. 

Source: TheCityUK member survey 2023,
run independently by Kantar

Read more about our work on each of our strategic priorities below:

Trust and reputation

Building industry trust and reputation underpins everything that we do, and we have continued to bring members together with policymakers and senior stakeholders. Read more…

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Long-term competitiveness

Ensuring the long-term competitiveness of the UK as a world leading international finance centre has been a core pillar of our work. Read more…

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We have continued to deliver on our ambitious international strategy, securing key outcomes for members. Read more…

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Regions and nations

Promoting the role and contribution of the industry across the regions and nations of the UK has remained a key part of our agenda. Read more…

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Green finance and sustainability

The industry’s role in enabling the net-zero transition has remained a key priority and we have taken significant work forward in this area. Read more…

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Download the full Annual Report And Accounts 2022 23

Find out more about our work across the previous year.

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