The Financial Conduct Authority (FCA) has released statistics that show the percentage of women in its senior leadership team has declined from 39 per cent in 2016 to 36 per cent in 2017.

In addition only two per cent of the FCA’s senior leadership team identify as black, Asian and ethnic minority

The FCA has set a target of 45 per cent of its top leaders identifying as female by 2020, and 50 per cent by 2025.

The average woman at the FCA is paid 19 percent less than the average man because of the relative lack of women in higher paying senior roles.

FCA executive diversity committee chair, Christopher Woolard said, “We are obviously disappointed” with the results.