Representatives from finance firms across the City of London said more work was needed to tackle gaping gender disparities in the industry, even after companies have made gains in the past five years.

Trade groups representing hedge funds, banks and insurers presented figures on Wednesday to lawmakers investigating sexism in finance which showed they’d largely made progress on representation of women in their industries. Within hedge funds, for example, the share of women has risen from 19% in 2019 to 27% this year.