Our People

Our People

Liontrust’s assets are our people. We are proud of the people who work at the company and we are investing in their training, qualifications and development as part of our strategy to retain talented fund managers, partners and employees. We are seeking greater diversity across the company as we believe this enhances the performance of businesses and leads to better decision making.

Staff engagement and development

Our aim is to have a stable and engaged workforce, and our average number of years’ service is greater than 5 years across the business and rises with seniority.

Annual report 2018 - Average years service

We engage with our staff at regular intervals, encourage active Liontrust equity participation and promote ownership, accountability and responsibility for their contribution to Liontrust’s success.

Our staff successfully transitioned to working remotely during Covid-19, equipped with the required technology to perform their duties productively and safely. Staff were actively engaged through regular company updates from the executive committee, and were encouraged to take time off work through a holiday allowance bonus scheme. Staff with additional demands, such as dealing with the challenges of home-schooling, were given due consideration and flexibility.

In 2020, Liontrust completed the acquisition of the Architas UK Investment Business which accounts for around 20% of the workforce. While we faced the challenge of integrating our new employees during lockdown, we believe our strong culture and values aided the process.

Liontrust undertook its’ inaugural workforce engagement survey in 2019, due to the Covid-19 pandemic we decided not to undertake this survey in 2020. However, the intention is to carry out an engagement survey by the end of 2021. Liontrust conducted regular Pulse surveys throughout the year to monitor the concerns and well-being of our staff. 

Liontrust’s Workforce Advisory Committee met regularly during the year. The purpose of this Committee is to advise the Management Committee and the Board on issues relating to the workforce, ensuring all colleagues have the skills, motivation and opportunity to develop and grow. This Committee has representatives from across the business including two members of the Management Committee. 

Liontrust aims to address the needs and aspirations of all staff through greater diversity and inclusion, work-life balance and health and well-being policies and initiatives.

We are committed to providing our talented staff with opportunities to develop their capabilities. We make substantial and sustainable investments in the development of our people, and regularly review the relevance and outcomes of this training.

In addition to our learning management system to enhance our internal training, we also encourage all our staff to take business relevant qualifications and offer support packages. Our investment professionals are required to achieve standards above the regulatory minimum with a particular focus on the Chartered Financial Analyst qualifications for investment staff.

Liontrust recognises the importance of an appropriate worklife balance, both to the health and welfare of employees and to the business. The recent move to working from home and all the associated challenges of home schooling has increased our focus on supporting employees and overcoming the challenge of maintaining our culture with additional training and communication initiatives.

Liontrust maintains a code of ethics that all staff must adhere to and has adopted the CFAI Asset Manager Code, a voluntary code of conduct to help asset managers practice ethical principles that put client interests first.

We have continued to embed our succession planning framework for directors and key executives; systematically identifying and reviewing potential successors and focusing on providing them with appropriate managerial and leadership training.

Equal Opportunities, Diversity and Inclusion

Liontrust believes that its people should be appointed to their roles based on skills, merit and performance and makes all appointments within the guidelines of its equal opportunities policy. We are committed to greater diversity, including gender, and the benefits that this will bring to the business.

We are an equal opportunities employer and it is our policy to ensure that all job applicants and employees are treated fairly and on merit regardless of their race, gender, marital status, age, disability, religious belief or sexual orientation. The Group reviewed and updated our diversity policy and Senior Management and the Board continue to believe that greater diversity will enhance the performance of the business.

During 2021, we establish the Diversity and Inclusion Committee chaired by our COO/CFO which will provide feedback and recommendations to the Management Committees, Nomination Committee and the Board itself. The purpose of the Committee will look at the challenges and opportunities around the following topics:

  • Preventing and eliminating discrimination, including unconscious bias.
  • Raising awareness of the importance and benefits of diversity enhancing our Culture and innovation.
  • Ensuring policies and procedures promote diversity across the company.
  • Increasing awareness through training, mentoring and coaching.
  • Highlighting changes required to promote diversity.
  • Attracting people from diverse backgrounds to join Liontrust and the asset management industry in general.

The Committee will meet monthly as we work to make progress across this important area. This will form part of overall diversity strategy.

Liontrust’s current gender balance is broadly 67:33 / male:female with men predominating in more senior positions. This reflects the history of the asset management industry and is typical of the financial industry as a whole. The Board and senior management are actively seeking to address this and we have seen a 5% swing towards women in the last year. Senior management have been working to implement our aspirations and putting in place the strategies; the policy changes; and the culture changes that are required to address the gender balance and gap at Liontrust.

As at 31 March 2021, Liontrust’s total of 205 employees/ partners was broken down as follows. Our Board represent 4 Non-Executive Directors:

 
 2021  Male    Female
 Employees  106 66
 Directors
 5  2
 Members of LLPs  30  3


We ensure there is a good gender mix of candidates in all recruitment, removing all male recruitment processes, providing training to staff on diversity, reviewing our policies to remove unconscious bias and encourage diversity and offering flexible maternity, paternity and shared parental leave and flexible working policies to help support staff with children.

We have explicit gender diversity targets in the remuneration and performance targets of the executive directors to help ensure that change happens.

Liontrust’s current gender balance is broadly 70:30/male:female with men predominating in more senior positions. This reflects the history of the asset management industry and is typical of the financial industry as a whole. The Board and senior management are actively seeking to address this. Senior management have been working to implement our aspirations and putting in place the strategies; the policy changes; and the culture changes that are required to address the gender balance and gap at Liontrust.

We have explicit gender diversity targets in the remuneration and performance targets of the executive directors to help ensure that change happens.

Liontrust tracks and analyses our gender pay gap (the percentage male employees overall are paid more than female employees), and it is more than the average for the financial services sector. Although the gender pay and bonus gaps between female and male employees could be expected to gradually decline as we continue to recruit and develop senior female talent across the business both the Board and senior management are seeking to transition the business more quickly.

The McGregor-Smith review on ‘Race in the Workplace’, noted that in 2016, 14% of the working age population are from a BAME background, with this expected to increase to 21% by 2051. BAME individuals made up only 10% of the UK workforce and held only 6% of top management positions in the UK. During the year Liontrust asked staff to voluntarily disclose their ethnicity, of the 70% of staff who opted to provide this data, 23% of staff categorised themselves as non-white. We recognise this is not a complete reflection of the ethnic composition of our workforce and we will continue to encourage our staff to voluntarily disclose this information as we believe this information is important to understand our baseline, in order to measure the effectiveness of our initiatives to allow us to make positive change.

The Parker Review sets out achievable objectives and timescales to encourage greater diversity and provides practical tools to support Board members of UK companies to address the issue. The Review recommends an increase the ethnic diversity of UK Boards by proposing each FTSE 100 Board to have at least one director from an ethnic minority background by 2021 and for each FTSE 250 Board to do the same by 2024. Liontrust have one ethnic minority representative on our Board and are committed to maintaining this.

Black Lives Matter (BLM) brought ethnic diversity and inclusion into focus during the year. The BLM movement resonated with our staff, some of whom were motivated to take more positive action. Liontrust held an internal webinar to highlight awareness of these issues with discussions from some of our Black staff members as to the issues they have experienced in the workforce and society.

To achieve greater diversity, we have set up graduate and intern schemes which aim to attract more young women as well as people from diverse backgrounds, where they may not have otherwise had the opportunity to start their career in the industry. We are active members of the 30% club investor group and have included support for similar levels of diversity in our voting policies for the companies we invest in. Opportunities for training and career development are made equally available to all. Promotion within the Company is based on personal merit and the reasonable requirements of the job. In order to further develop the existing staff and as part of a wider learning strategy, Liontrust encourages coaching and mentoring opportunities. The development of a pipeline of talented and diverse employees through both the internship programme and through coaching and mentoring will be fundamental to increasing diversity

Remuneration

We maintain a remuneration approach that promotes a strong customer centric culture, as well as risk awareness and performance with a good alignment of staff, investor and shareholder interests.

Liontrust has a remuneration policy that aims to reward staff equally for doing equivalent jobs, at an identical level of performance and experience.

All staff have the opportunity to participate in a pension arrangement. Employees are encouraged to become involved in the financial performance of the group through a Share Incentive Plan. We provide health and well-being initiatives including private medical cover, annual medical examinations to all staff and a confidential advice service.

All our staff (including cleaning staff and temporary staff) receive at least the London Living rate per hour and Liontrust does not use zero-hour contracts.

For further information please refer to the ‘Responsible Employer’ section of our Sustainability Report

Back to top