Diversity in business up for discussion at successful panel event

Morton Fraser LLP and the Institute and Faculty of Actuaries (IFoA) co-hosted a joint panel event last week (14th April) entitled “Leading by Example: Diversity in Business”.

Around 60 delegates attended the event at Morton Fraser’s Edinburgh office, which was heavily oversubscribed and held as part of Morton Fraser’s Business Women’s Network and the IFoA’s work on promoting diversity.

Covering a breadth of issues relating to diversity of all kinds in business, the event encouraged women to act as supportive role models for other women and take courage from their own abilities while recognising competence in others.

Chaired by Linda Urquhart OBE, Morton Fraser chairman, the panel also included Lady Susan Rice CBE, chair of Scottish Water and Business Stream, Fiona Morrison, president of the IFoA and a partner in Lane Clark & Peacock LLP and Tanya Castell, Chair of Changing the Chemistry, a charity promoting diversity of thought in the board room.

“Diversity in business is an important issue for both Morton Fraser and the IFoA,” said Linda Urquhart. “We both wanted to create an interactive platform where issues such as how diversity can help individuals and businesses succeed, the benefit of role models and the issue of unconscious bias could be discussed. In joining forces to host this event, Morton Fraser and the IFoA brought together a panel of leading business women to share their thoughts and best practice. We were delighted with the extremely high interest in the event and wish to thank those who attended as well as our expert panellists on the night,” Urquhart said.

Lady Susan Rice said: "There's so much analysis, target-setting and wishful thinking around the issue of diversity and specifically women’s place in positions of power and influence. It all helps, but I think there may be nothing more helpful than the chance for women to hear from other women directly, openly, honestly, about how they do it. It’s one matter to agree things should change.  It's quite another to help women begin to see themselves there. Congratulations to IFoA and Morton Fraser for creating just that space."

Fiona Morrison said: “There is a crucial role for professional bodies, such as the Institute and Faculty of Actuaries, to promote diversity as part of our duty to act in the public interest.  An increasing percentage of IFoA students are women, thirty eight percent at last count. We hope that the growing number of female students will convert into increasing the number of qualified female members in the years to come, and that they will work their way up the corporate ladder.  Most companies consider profitability a main priority.  With such strong research in existence showing the clear benefits of having more diverse teams at senior management levels, the IFoA hopes that progress continues to be made on all types of diversity, including gender diversity.”

Tanya Castell said: “Having been recently appointed Chair of the IFoA’s innovative new Quality Assurance Scheme sub-committee, I am delighted to have the opportunity to participate in this event and provide suggestions on practical steps people can take.”

Ends

Notes to Editors

About Morton Fraser

• Morton Fraser operates throughout the UK from offices in Edinburgh and Glasgow, employing over 270 people.
• The firm offers commercial and private client legal services to businesses, the public sector, families and individuals
• Morton Fraser clients include BAA (now Heathrow Airport Holdings), Diageo, Royal Mail Group, The Ministry of Defence, Transport Scotland, Tesco and Scottish Canals.
• www.morton-fraser.com

About the Institute and Faculty of Actuaries

The Institute and Faculty of Actuaries (IFoA) is a royal chartered, not-for-profit, professional body. Research undertaken by the IFoA is not commercial.  As a learned society, research helps us to fulfil our royal charter requirements to further actuarial science and serve the public interest. 

Actuaries provide commercial, financial and prudential advice on the management of a business’s assets and liabilities, especially where long term management and planning are critical to the success of any business venture. They also advise individuals, and advise on social and public interest issues.

Members of the IFoA have a statutory role in the supervision of pension funds and life insurance companies. They also have a statutory role to provide actuarial opinions for managing agents at Lloyd’s.

Members are governed by the Institute and Faculty of Actuaries. A rigorous examination system is supported by a programme of continuing professional development and a professional code of conduct supports high standards reflecting the significant role of actuaries in society.

www.actuaries.org.uk