U.K.-based asset manager Man Group PLC aims to increase the number of women in senior management roles to 25% by December 2020 and 33% over the medium term.

The company reported an increase in female representation in senior roles to 22% in 2018, up from 16% in 2016.

"It is very easy to pay lip service to diversity. However, to see real change, we need to take action across the industry," Man Group Chief Administrative Officer Robyn Grew said.