Fraser Nelson Fraser Nelson

The City: a beacon of diversity

Now, what would those in the Equalities industry say to an industry so diverse that it has — in proportion — seven times as many Hindus, five times as many Indians, three times as many atheists and three times as many gays or lesbians as the rest of the country? And that this was achieved not by a positive discrimination employment strategy, but by sheer hard-headed hunt for the best talent? It would likely be hailed as an exemplar of diversity, an example of how Britain is the most tolerant country in the world. But if they happen to be bankers? Well, that’s another issue altogether.

The study from Astbury Marsden (cited in Allister Heath’s City A.M. column yesterday) sampled 1,655 City workers and the results are below. (Don’t expect to read them anywhere in the Guardian.)

This, to me, is what the City is about. It is a thing of beauty and wonder: Canary Wharf is a modern-day Babel where the most talented from all over the planet convene in the language of commerce. And the term ‘banker’ is used to cover a multitude of disciplines: the City is home to insurers, researchers, corporate lawyers, bond analysts, all of them the word’s best. The City is more diverse than Wall St, where Americans take the top jobs. The City has a Wimbledon model: we provide the turf on which the world’s best foreigners, and applaud as they walk off with the silverware. Our only concern is that the best people win. This, as a national trait, is rarer than you might expect.

And hiring Mark Carney, a foreigner, to be head of the Bank of England may surprise foreigners. But not Brits: I genuinely believe that we are the most tolerant and globalised nation on earth.

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