Charity which aims to take over from Presidents Club on track for £1m

11 Oct 2018 News

The charity which set out to replace funding for those that missed out following the Presidents Club scandal has said it is on track to raise £1m by the end of the year.

The Diversity Project aims to see equality of opportunity across the investment and savings industry, and set up its fundraising appeal Diverse City to raise money for charities that were previously funded by the President’s Club.

The President’s Club was at the centre of a scandal earlier this year after an undercover investigation by the Financial Times revealed the harassment of female hostesses at its all-male black tie fundraising dinners. 

The Diversity Project said it is working on a series of five events across the UK designed to raise around £2m in two years, 2018 and 2019, to “support charities who have been affected by the revelations following The President’s Club dinner and also provide more resources for initiatives such as work experience and mentoring which can help boost diversity and inclusion in the profession”.

Dame Helena Morrissey, head of personal investing at Legal & General, established the Diversity Project Charity. She has told the Financial Times that it has raised over £500,000 so far and is on track to raise £1m by the end of the year.

It is holding five events in 2018, including four gala dinners. The last event, the Lord Mayor’s Appeal at the Guildhall, is taking place at the end of the month.

Charities who will receive money from the Diverse City events include Great Ormond Street Hospital, Centrepoint, The Prince’s Trust and Samaritans.

Supporters include M&G Investments, Legal & General and Virgin Money.

The Diversity Project Charity was registered with the Charity Commission as a charitable incorporated organisation in August of this year.

 

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