We need advocacy in the workplace

confidently say it hasn’t contributed to making this sector a better place.

But rather than moaning, I wanted to walk the talk and begin a series dedicated to addressing misrepresentation: The Advocate Series.

Do

e need greater advocacy in the workplace. We need to learn to advocate for ourselves and for others. We must acknowledge that advocating for yourself in the workplace isn’t only selfpromotion but necessary in raising awareness of your own capabilities- and therefore other people’s perception of you.

Back in late 2021, Catherine Mann of the Bank of England was quoted on many media channels to have said that women who choose to work from home were putting themselves at a disadvantage in the workplace. What annoyed me about the statement was the sensationalist, but not unusual, press coverage that took no responsibility or care to address the real facts behind that statement, or what we should be doing about it. Catherine had said

Wthat to progress in the workplace you need to be seen, to be heard, recognised and given the just credit you’re entitled to in the office. The media reports failed us. The media reports suggested women made a “choice” to work from home and subsequently hold themselves back.

The Pandemic revealed to us that it is in fact women who take on the brunt of the workload at home, be that parenting or caregiving- and hence for many, working from home is a need. The onus needs to be put on managers to upskill themselves and fairly recognise the work they do, no matter where that work is done. The press’ reaction to Catherine’s statement also dampened efforts to attract more women to the financial sector. It is an industry in need of greater diversity to address the imbalances that will hinder innovation and growth. Whilst we can’t quantify the damage of this media aggrandisement, I can

This series is for all people and all genders. It will feature examples of how you can advocate for yourself and how you can advocate for others in your workplace. The messages come from a select group of industry experts who I believe are truly committed to inclusion, regardless of race, ethnicity, age, gender, neurodiversity, and social standing. This series will begin with the tri-factor of recognition, money and promotion. In all my work, and across my conversations with people who have been unfairly overlooked, these are the three areas I hear about most. The financial technology industry is working incredibly hard to embed greater inclusion- but often the efforts are misplaced. We have a long way to go but I’m beginning The Advocate Series to catalyse this journey. The Advocate Series will walk the talk through evidence, examples and case studies so we can all do better.

The Advocate Series: Coming April 2023

Matt Hayward-Ryan Vice-President of Sales Volopa

Did you know that in 2022, 38% of the world’s foreign exchange market turnover was traded in London? In fact, London is the largest foreign exchange hub in the world averaging around US$7 trillion per day in trading in 2022!

This puts the UK and London at the very centre of global currency exchange trading and is one of the major reasons London is often referred to as the “financial capital of the world”.

Why London?

Although China created the first paper money in the world dating back around 1400 years ago, the British pound sterling is the world’s oldest currency that is still in use today. And, in case you’ve ever wondered, the British pound sterling is named as such given traditionally, one British pound (£)

Five top traded currencies

carried the same value as one pound of sterling silver. However, while the pound sterling certainly bears the longest tradition as a currency, it is for very different reasons that London is the largest FX hub in the world.

Location London boasts a significant geographical advantage over the other FX superpowers; it is the only major FX hub whose trading hours cross over with the US and Asian FX hubs, meaning it is open

Turnover in USDbn and share of all trades

Source: BIS 2022 Triennial Survey currency exchange, FinTechs who specialise in these core activities may utilise superior technology to offer greater functionality and more effective business transactions, complete with competitive exchange rates.

Trading the cable Interestingly, when the first electronic GBP/USD exchanges were traded between London and New York, these were transmitted via the transatlantic-cable; hence, the industry refers to GBP/USD trades as a “cable”.