8  Joint Council for Qualifications, 2017 GCSE and A-Level results, available at: https://www.jcq.org.uk/examinationresults/gcses/2017/gcse-full-course-results-summer-2017/gcse-full-course-results-summer-2017. 9 HE student enrolments by subject of study 2016/17 available at: https://www.hesa.ac.uk/data-and-analysis/students/table-9. 4  All speeches are available online at www.bankofengland.co.uk/news/speeches  4  Once the right people are through the door they need to be developed and the culture needs to be supportive. For the Bank that means identifying a pipeline of future leaders with a diverse and broad set of experiences and pushing them in order to prepare themselves for bigger roles. Last year for internal appointments, the Bank introduced pooled (or co-ordinated) recruitment for senior appointments. Governors and Executive Directors come together to assess the roles available with the candidates that have applied to try and find the best fit for each team, and for the institution as a whole. This allows us to take a birds-eye view of diversity, rather than appointing in isolation, which risks reinforcing homogeneity in our senior appointments. Pooling our appointments makes everyone realise how their decision impacts the diversity of the whole organisation and helps to highlight the characteristics and skills that may be missing or overrepresented in the senior leadership. And it provides real time feedback if someone’s career is being held back by gaps in their experience or training. Pooled recruitment catalyses the creation of essential development plans that prepare colleagues for future roles. Since its inception, over half of the 15 promotions to Head of Division level between May 2018 and February 2019 using this pooled recruitment were women.

7 See: https://www.bankofengland.co.uk/education/econome. 3  All speeches are available online at www.bankofengland.co.uk/news/speeches  3  That being said, an economics education is certainly not a prerequisite to a career in the Bank. The Bank offers on the job training for all ages to entice diverse talent. Our Future Capability programme is aimed at pupils keen to get their careers started after leaving school. Almost 90% of our 2018 Future Capability intake were from a state school and over half were female. Historically, one impediment to improving diversity in central banking has been the lack of diversity among economics graduates. Just under a third of students studying economics to A-level and undergraduate level in British Universities are female.8,9 To enable the Bank to hire from a broader set of disciplines and train them as economists and technical specialists we have introduced an in-house Central Banking Qualification (CBQ), in which graduate hires can earn a Masters Degree in Central Banking. This means that only half of our graduates study economics, with the remainder plucked from the sciences, business and the humanities. In recent years, our graduates have come from 40 different universities, a six-fold increase in the past decade. In the Bank’s September 2019 intake, we expect that almost half – 46% – of graduates will be female. This is the most diverse outcome since we began recording the diversity of graduate intakes. Last year, the Bank won the TARGETjobs 'Most Popular Graduate Recruiter in Banking, Insurance and Financial Services’ for the second year running.