Mon, Dec 23 2024

"Fintech leaders need to be vocal advocates for diversity and inclusion," says PPRO CEO.

June 29, 2024
3 Min Reads

The main activities of Pride Month are scheduled to conclude this weekend in London. Pride encompasses much more than rainbows, marches, and celebrations. It is about the real-world process of LGBTQIA+ identities becoming accepted and included, even in the financial industry.

We had a conversation with PPRO CEO Motie Bring on his experiences as a homosexual man in the finance industry in honor of Pride Passing once more.
"When I came out at the age of seventeen, it was difficult for me to accept who I was and deal with my fear of being rejected by the people I cared about." I made the decision to never enter the closet again after that. Bring told us, "I approach everything I do with this transparency and honesty, and my job is no exception.

"Being gay is not who or what I am, but is a part of what has made me the person I am today," he said, acknowledging that his sexual identity had presented some challenges in his career that had strengthened his commitment to advancing an honest DE&I agenda. "I believe that wearing my true identity on my sleeve has helped me in many ways with confidence, being a CEO and leader," he continued. Being self-assured in my judgments for the firm and my team is crucial for a leader, especially while developing and extending an organization during challenging economic times.

Bring commented, "It's great to see some of the initiatives that the very big organizations are driving in the banking and fintech sectors," in reference to the advancements achieved for LGBTQIA+ individuals in the fintech space. While it is great to see so many more members of the community in prominent and senior positions, there are still far too few LGBTQIA+ CEOs.

"I admire the work that Julia Hoggett has done over the years in financial services, triumphing both women and LGBTQIA+ members, in an impressive career that saw her take on the CEO role at the London Stock Exchange," Bring said in response to a question about important leaders in the LGBTQIA+ community.

However, as Bring pointed out, "QueerIA+ members continue to face many challenges and discrimination in many countries around the world, both in and out of work." Fintech is a global sector.

Bring argued that despite significant advancements for the LGBTQIA+ group in the workplace, acceptance remains elusive, saying that "many have experienced some form of unfair treatment, including hiring discrimination, harassment, and some have even been fired due to their sexuality." Not unexpectedly, this has the potential to make people feel alone and exposed at work.

"In London, 75% of LGBTQ+ startup founders in the UK hide their gender identity or sexual orientation from investors, and 50% of employees choose to return to the closet when they begin their careers," he continued. There's still a long way to go. LGBTQIA+ people's visibility in the financial services industry is still a major problem, and without honest discussions, these difficulties could never be resolved.

"Whether a small, medium, or large enterprise, you need to begin by becoming accountable to the people you have hired into your workforce," Bring said in reference to ways the area might be improved.

Everyone has prejudices, and if you accept that these prejudices might show themselves in a variety of ways, you can gradually alter the company's culture. It is imperative that the leadership actively supports these initiatives rather than just endorsing them. In order to effectively promote diversity and inclusion, fintech executives must lead by example and show that they are committed to the DEI principles from the top down.

Bring finished, saying that a committed and innovative staff is all that is needed to integrate DEI into your company culture rather than large financial resources. You must be a real ally of the community by being present and supporting the many projects that comprise your DEI agenda.

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