UK advantage as Trump deplatforms diversity equity and inclusion initiatives

The chief executive of the London Stock Exchange, Dame Julia Hoggett, has suggested that President Trump’s recent executive order banning Diversity, Equity, and Inclusion (DEI) initiatives could provide London with an advantage in attracting global companies for their stock listings. This development comes as the US takes a significant step to restrict DEI practices in the public and private sectors, which the White House has described as “forced illegal and immoral discrimination.”

Speaking after winning the prestigious Veuve Clicquot Bold Woman Award, Hoggett explained that the absence of a DEI-positive environment in the US may prompt companies to re-evaluate where they list their shares. She noted that jurisdictions like London, which maintain a globally inclusive culture, might appear more attractive to businesses seeking to align with such values. She remarked, “We follow the rules and laws of every country we operate in, but we also set our own culture. Companies looking for jurisdictions matching their principles may find London to be an appealing choice.”

Dame Julia received the Bold Woman Award for her leadership as chief executive of the London Stock Exchange and head of the UK’s Capital Markets Industry Taskforce. Under her leadership, the taskforce has successfully advocated for changes in stock market rules to make the market more appealing to entrepreneurs. As part of these efforts, she has also called for investors to allow higher remuneration for executives of British firms to remain competitive globally.

Hoggett took inspiration from her mother, Lady Hale, former president of the UK Supreme Court, who paved her own path in public service. Hoggett attributed some of her success and resilience to observing her mother’s career in the public spotlight. She explained that her mother taught her the importance of separating personal and professional identities, a lesson reflected in her approach to carrying out her responsibilities. Hoggett shared, “I take what I do seriously, but I don’t take myself more seriously than necessary. It’s crucial to separate the role from the person.”

America’s new DEI policies could catalyse a shift in the minds of business leaders, with London standing to gain from this. In light of evolving global attitudes towards corporate values and culture, London’s proactive stance on inclusion may serve as a powerful differentiator for the financial hub. As both political and economic landscapes shift, Hoggett’s vision for the London Stock Exchange reinforces its significance as a global platform for business innovation.

The award ceremony also recognised sustainability entrepreneur Insiya Jafferjee, who received the Bold Future Award for her pioneering work at Shellworks. The business, which she co-founded in 2019, develops sustainable packaging solutions that replace petroleum plastic with the biodegradable material Vivomer, reducing environmental waste. Her work highlights the growing importance of sustainability in shaping modern business practices, further outlining the relevance of London’s forward-thinking culture.