The Association of British Insurers (ABI), has backed a campaign which offers paid work experience to 10,000 black graduate interns in various British industries in a bid to improve workplace diversity.
According to the Financial Times, ABI is among some of the many UK bodies to encourage employers to participate.
The “10,000 black interns programme” which launched Tuesday 27 October was created by Dawid Konotey-Ahulu, co-founder of pensions advisory group Redington, Jonathan Sorrell, president of asset manager Capstone Investment Advisors, Michael Barrington-Hibbert, founder of recruiter Barrington Hibbert Associates and Wol Kolade, managing partner of private equity firm Livingbridge.
Recognised UK insurance groups including Zurich and advisory firms such as PwC have already signed up to the campaign which hopes to place 2,000 black interns in companies in the UK annually over the next five years.
It follows the Parker Review report published this February which found 37% of FTSE 100 companies surveyed did not have any ethnic minority representation on their boards.
At the time, Sir John Parker, chairman of the Parker Review Committee, said: “Although progress has been made to increase the representation of ethnic minorities on FTSE boards in the UK, there is still much more work to be done to reap the undeniable benefits that diverse leadership provides.
“Ethnic diversity needs to be given the same level of board room focus that finally led to increasing female representation on boards, which has seen real progress in recent years.”