Workplace diversity would address skills gaps in Yorkshire, says CISI chief

Workplace diversity needs to be addressed in Yorkshire as the region prepares to become one of the fastest-growing economies in the country, according to the head of a professional body.

Speaking to The Yorkshire Post, Tracy Vegro, the Yorkshire-born chief executive of the Chartered Institute for Securities & Investment (CISI), said a diverse pipeline of talent was needed, particularly in Leeds, to keep pace with the predicted economic changes.

The Leeds economy is expected to grow quicker than the rest of Yorkshire and the Humber between 2024 and 2026, with the city also forecast to keep pace with the national rate of growth over the same period, according to EY's Regional Economic Forecast published earlier this year.

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"It’s phenomenal,” Ms Vegro said. “It’s set to be one of the fastest growing economies of the UK, so, therefore, any UK skills shortages are likely to be more pronounced here.”

Tracy Vegro, chief executive of the Chartered Institute for Securities & Investment said the organisation is working hard to improve diversity within the financial services sector. Picture: CISITracy Vegro, chief executive of the Chartered Institute for Securities & Investment said the organisation is working hard to improve diversity within the financial services sector. Picture: CISI
Tracy Vegro, chief executive of the Chartered Institute for Securities & Investment said the organisation is working hard to improve diversity within the financial services sector. Picture: CISI

Ms Vegro said she was ‘shocked’ by skills shortages in financial services.

“I’ve seen it particularly with non-executives,” she said.

She added: “People in financial services have often retired in their fifties and didn’t want to go on to join boards in a different capacity or be a trustee, so there’s a bit of a gap there.”Ms Vegro, who was born in Sheffield and grew up in Harrogate, said she believed diversity was the key to unlocking future talent.

“I think there’s a diversity problem everywhere. I genuinely think we’ve slightly gone a bit backwards. It’s all forms of diversity, including diversity of thought.”

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She added: “I still see too many women saying ‘I can’t do that, instead of I can do that. We’ve got to change that mindset.

“For all of us, the more we showcase women or people from slightly different backgrounds who are succeeding in something that people think is very traditional, the more diverse our workforces will be.”To encourage more diversity and plug some of the skills gaps within Yorkshire’s financial services industry, the CISI is hosting a Change Boot Camp at Pryzm nightclub in Leeds in October to bring university students and financial services professionals together.

It follows a similar event by the organisation in Liverpool.

Rebecca Keating, Yorkshire president of the CISI, said: “It will be a chance for us in the industry to be able to show students what our firms are doing, what sort of career paths we’ve got in the region and also allow for networking between students and people actually working in the industry.”

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Ms Vegro added: “We’re trying to target young people from different backgrounds as well as trying to show that you don’t have to come into the industry through a traditional route.”

"It’s early days but we’re really pleased to be able to do it in Leeds because the opportunities there from employers are so varied.”

The CISI is also in its second year of recruiting student ambassadors to represent the organisation to their peers.

Ms Vegro said: “All these things are a way of spotting talent.

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“The sooner you start thinking about your career, the more likely it is to take the path that you want."

She added: “We don’t want skills gaps in the economy. We want to make sure people have fulfilling and long careers.

"Having that career trajectory and a career that can be different is quite important so that’s why we’re so keen to start young.”

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