The repositioning of diversity, equity and inclusion in financial services

This paper provides food for thought and action for the industry as it reassesses its approach to DEI.

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New Financial members, governments and regulators, can also access our complete research archive including this report here Since the beginning of this year, the diversity, equity and inclusion landscape has changed rapidly and dramatically, driving a reframing of the name, concept and application of DEI.

New Financial convened a series of virtual events to discuss the repositioning of DEI in the face of highly vocal and high-level challenge to the very existence of the DEI agenda, predominantly from the US government and some conservative activist groups. We heard from a range of New Financial members – headquartered in different regions including the UK, Europe, Asia, US and firms with significant presence in the US – about how their organisations are responding, including changes to language, initiatives and stakeholder engagement.

In this thought paper, we are trying to capture both the challenges and opportunities presented by this creative destruction. We have pulled together different lines of thinking to help organisations frame potentially challenging internal conversations. We cover:

• Setting the scene

  What has changed and the key drivers of the repositioning of DEI

• Immediate responses

  What companies did in the early part of 2025

  
  

• Medium term impacts

  What we have started to see and expect to see

  
  

• Silver linings

  The opportunity for renewal

  
  

• The long view

  Key questions to consider in the months and years ahead

  
  

• Next steps

  Calls to action to keep moving forward

While we have more questions than we have answers at this point in time, we will continue to monitor the industry’s response and stay alert to innovation.