Gay rights advocacy group Stonewall praised the legal departments of JPMorgan and Transport for London (TfL) for their dedication to diversity at its Diversity Champion Seminar last month (25 July).
Both organisations were applauded for their well-structured and implemented diversity policies. The Stonewall seminar focused on the standard of supplier diversity and how this is incorporated into the procurement process.
Stonewall manager of workplace programmes Will Martin said: “JPMorgan and TfL have really pushed the envelope in terms of addressing diversity.
“Organisations have been asking for statistics on diversity policies for some time, but these companies are requesting evidence of how the policies are working and how they’re being applied to the organisation.” JPMorgan, which is embarking on its law firm panel review process later this year, will be requesting detailed information on firms’ diversity policies in its request for proposals.
Managing director and associate general counsel at JPMorgan Tim Hailes said: “This is going to be Europe-wide. I’m not aware of this being done before and it will be interesting to see the response.
“We won’t be penalising firms for not having this information immediately to hand, but we will not look favourably on those that don’t want to address diversity and implement their own policy.”
Hailes added that, while firms in some jurisdictions may not have implemented diversity policies, the aim is to get these firms to understand their importance.
Last month (30 July) The Lawyer reported on TfL’s decision to incorporate quarterly reviews on diversity with panel firms into its latest review.