THE boss of Lloyds Banking Group will today underline his commitment to substantially increase the number of women in senior posts in his company.
Antonio Horta-Osorio is due to reaffirm the ambition that 40 per cent of the top 5,000 roles at the Edinburgh-based bank should be held by women by 2020 - up from 28 per cent currently.
Lloyds Bank was the first FTSE-100 company to set such a goal when it revealed the plan earlier this year as a part of a package of measures, including a promise to lend more to small businesses, in a bid to restore its reputation following the financial crisis.
Mr Osorio will reiterate the pledge when he addresses a reception for leading women at the House of Commons.
He is expected to argue that the goal makes sound business sense for the long term.
"My management team will tell you that I am fond of making public commitments. In my experience, it helps to focus minds and achieve results.
"There is no hiding place once you have made such a commitment public," he is due to say.
"The timeframe provides a window for us to develop a pipeline of talented individuals suitable for executive positions. We are - after all - looking to develop long term sustainable change, not a quick fix."
Mr Horta-Osorio will also tell those attending the Women to Watch reception at the House of Commons that he believes the commitment is based on meritocracy and that if other companies follow suit the move would benefit the wider economy.
He is due to say: "Ultimately, Britain will prosper if more companies recognise the benefits that diverse, meritocratic organisations can bring.
"This is a goal we should all work towards."
Last week businesses were warned that excluding women from senior jobs is not just hurting their employees' career prospects but it can also be harmful to the company's productivity.
Despite a series of efforts from firms to improve the prospects of women in the workplace, many companies treat it as a gender issue instead of a problem for the business, consultancy group Advanced Boardroom Excellence (ABE) suggested.
The Scottish Government wants further powers to deliver at least 40 per cent female representation on public boards.
In August Shona Robison, equalities secretary, wrote to the Department of Culture Media and Sports, calling for the transfer of competence for equalities legislation so that Holyrood could impose the target on public bodies.
During the referendum campaign the Deputy First Minister Nicola Sturgeon also promised that she would extend that ambition to private firms in an independent Scotland.
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