‘Where you come from shouldn’t dictate where you finish’: How Standard Chartered is taking on the banking industry’s class problem

Darren Ellis, the chief financial officer for Europe, Americas, Africa, and Middle East at Standard Chartered, grew up in a working-class family. Both his parents worked in challenging jobs, which instilled in him a strong belief in the value of hard work. Ellis, who played sports at a high level, faced difficulties in connecting with classmates from different backgrounds, but his own experiences taught him the importance of effort and opportunity.

He now champions the cause of socio-economic diversity within the banking industry, stating that "where you come from shouldn’t dictate where you finish."

Standard Chartered ranks 84th on Fortune's 2026 list of the best companies to work for in Europe. The bank has taken several steps to address the disparity in career progression between employees from lower and higher socio-economic backgrounds. Research by the Bridge Group and Progress Together revealed that employees from lower-income backgrounds take 16% longer to reach senior roles and only 26% of senior leaders come from working-class or non-professional backgrounds.

One of the major obstacles to career advancement for individuals from lower socio-economic backgrounds is the lack of access to information and professional networks. Ellis emphasizes the importance of disclosing one's background to increase awareness and create opportunities. Recognizing the need for data, the bank started polling its employees on their backgrounds in 2024, with disclosure rising from 24.9% to 31%. The goal is to reach 50% by 2028.

To foster a more inclusive environment, Standard Chartered has encouraged senior leaders to share their own backgrounds and experiences. Ellis himself has shared his story on the bank's intranet and blog, breaking down barriers to open discussions about socio-economic diversity. The bank also organizes quarterly listening sessions where employees discuss the challenges they face, which has helped Ellis better understand the struggles others have overcome.

One of the key initiatives launched in June 2026 is a talent progression program for high-potential employees from lower-income backgrounds. Each of the 10 participants is paired with a senior managing director as their sponsor, providing them with advocacy, visibility, and access to roles they might otherwise miss. Additionally, the bank has introduced the Spring Insights program, a three-day in-person workshop for first-year university students from underrepresented backgrounds, allowing them to gain experience in the corporate and investment bank.

In its first year, 10 students from diverse backgrounds secured summer internships at Standard Chartered.

The bank also collaborates with HSBC on a schools outreach scheme, which aims to demystify finance and showcase role models from diverse backgrounds. The partnership between HSBC and Standard Chartered goes beyond competition, as Ellis believes that working together creates more opportunities for young people. The two firms also work closely with Progress Together, an industry body founded in 2022, to further advance the cause of socio-economic mobility. Ellis is open to partnering with other organizations to achieve this common goal.