Breaking Boundaries Jennifer Thomas on building real diversity and inclusion at LSEG

Jennifer Thomas, Global Head of Equity, Diversity & Inclusion at the London Stock Exchange Group (LSEG), has spent a significant portion of her career pioneering initiatives for more inclusive workplaces. A black woman and a former communications specialist, Thomas brings a personal and professional commitment to EDI that runs deep. Her journey into this vital space, and her thoughts on its future, offer valuable insights for organisations looking to move beyond superficial gestures and embed genuine change into their culture.

The Personal Crusade That Sparked a Career
For Thomas, her passion for D&I is not simply an academic interest or professional obligation. It is a deeply personal crusade born from her own experiences as a black woman navigating the world. "I'm a woman. I'm a black woman. And so my starting point has always just been life and my representation," she reflects. "It's not just about how you show up in a workplace; it's about how representation turns up for me as an individual." This recognition of the importance of representation - both personal and professional - has shaped her approach to D&I throughout her career. "It starts with inclusion. How do I feel included? Not just in my working environment, but all through childhood," she continues. "That's the foundation of everything."

Her entry into the corporate world was not just about climbing the ladder, but about ensuring that others, particularly those from underrepresented communities, were not only seen but heard. "In my communications role, I saw an opportunity to have an impact - either by sharing positive experiences or preventing challenging ones. Over time, I brought D&I into my work, and as I advanced, I found myself at senior leadership tables where I could directly influence the agenda." Her approach to D&I is informed by both personal experience and professional expertise. "It's been a slow burn throughout my career, but it's been meaningful," Thomas adds.

From Communications to EDI Leadership
When Thomas joined LSEG, she came on board as head of communications for the company's data and analytics business. As she integrated into the organisation, her interest in its culture quickly led her to explore opportunities to influence the company's D&I strategies. Initially, this involved supporting communications around D&I, but two years into her role, an opportunity arose to take on the role full-time.

Reflecting on her decision, Thomas notes that her transition was a natural progression. "It was a fantastic opportunity to leverage both my communications background and the D&I experience I had accumulated over the years," she says. "Having been inside the organisation for a while, I knew its ethos, its challenges, and its goals. I could bring a unique perspective."

LSEG is a vast global organization with employees in multiple regions, and Thomas admits that, while the challenges of implementing D&I initiatives on such a scale are considerable, they are not insurmountable. "The foundational principles remain the same, whether you're in a start-up or a global institution. The goal is to foster a diverse workforce and ensure that everyone feels included - whether it's a company of four or 40,000," she says.

However, the scale of the company does present some unique challenges. "The differences come in the resources and investment you can allocate, as well as how quickly you can move," she explains. "In a smaller organisation, things can feel more agile. You're starting from scratch, which has its own set of advantages. In a large, well-established organisation, changing entrenched systems and structures is more challenging."

The Importance of Culture in EDI
Thomas is a firm believer in the idea that any sustainable D&I strategy must start with culture. "Culture is the bedrock," she says. "Whether you're a start-up or a large company, you need to have conversations about the kind of culture you want to create. What kind of environment do you want to foster, and how does that align with your business offerings?" This is where many organisations fail, she believes. "You can't instruct culture. You can describe it, define it, and frame it, but it has to grow and evolve organically. When you get the culture right, it becomes part of the way people operate."

This culture becomes the lens through which all decisions, including those around D&I, should be made. "I think a lot of organisations made the mistake of treating D&I as an add-on, something that sits in the 'people function,' or it's assigned to someone to manage," Thomas says. "That's the wrong approach. It has to live and breathe within the culture of the organization."

For Thomas, ensuring that EDI is woven into the fabric of an organisation's culture is the key to long-term success. She stresses that the danger of a 'tick-box' approach to diversity is not just that it can feel superficial, but that it ultimately fails to produce lasting change. "You can't just have a list of initiatives that check off a few boxes. That's not a strategy. It's a tactic," she warns. "A strategy gives you the framework to make the changes that will endure, no matter how large or small your organisation is."

Shifting the Narrative: From Burden to Opportunity
As D&I has become more mainstream topics in the business world, there's a growing tension for organisations that feel forced to take action under external pressure. "Is it more challenging now?" Thomas ponders. "It depends on how you frame it. It's easy to think of D&I as another burden for organisations to bear. But I see it as an opportunity."

The key, she argues, is for leaders to frame it not as a task to be completed but as an integral part of business strategy. "I think you have to look at it through the lens of talent strategy, culture, and risk management," she suggests. "How do you attract the best talent? How do you retain it? How do you ensure your organisation is fit for the future, ready to respond to the needs of clients, investors, and employees?"

By reframing D&I as an opportunity for innovation, growth, and improved business performance, leaders can avoid the pitfalls of treating it as a checkbox. "If you're a founder, investors want you to be thinking about these things from the outset," Thomas continues. "It's not a matter of if, but how. It's about embedding D&I into your business strategy from day zero. That way, when the pressure mounts, you're not playing catch-up."

Mistakes to Avoid: The Dangers of the 'Tick-Box' Mentality
Thomas highlights several common mistakes that organisations make when implementing EDI initiatives. The most prominent of these is falling into the trap of focusing solely on short-term, surface-level tactics. "You can't just put a couple of diverse people on your leadership team and call it a day. It's about creating a culture where diversity isn't an add-on, but a living, breathing part of the organisation." The danger, Thomas says, is that too many organisations view EDI as a "compliance" issue, a box to tick to avoid criticism or meet regulatory requirements. "But if you don't attach a clear business strategy to it, you won't see sustainable results. The work isn't done once you've ticked the diversity box," she stresses. This is why it's essential for leaders to take ownership of EDI as part of their broader strategy. "EDI isn't just about emotion, although of course, emotion plays a role. It's about how diversity and inclusion connect to your business outcomes. You wouldn't build any other part of your business with just a few tactics. So why treat EDI any differently?"

The Future of EDI: Embedding Change for the Long Haul

Looking toward the future, Thomas sees significant opportunities for organisations that embrace EDI not as a trend, but as an evolving cultural norm. "There's no going back," she asserts. "Talent, both current and future, will expect to work for organizations that make them feel accepted, celebrated, and empowered to be their authentic selves."
She predicts that, as remote work and hybrid models continue to evolve, culture will remain an even more vital piece of the business puzzle. "COVID accelerated this shift, but I don't think it's going anywhere. Culture will always be key, and organisations that embrace that will be the ones that thrive."

In her view, the ultimate goal should be for EDI to be fully embedded into the organization's DNA. "I don't want to have a job forever as an EDI professional," she jokes. "I want to see a world where organisations don't need a 'department' for diversity - they just live and breathe it."

For business leaders, the message is clear: EDI is not a passing trend. It's an integral part of future-proofing your organisation, and the sooner you embed it into your culture, the better. Thomas offers a powerful vision for the future of D&I: one where it is not treated as a separate entity but integrated into the very fabric of a company's culture and strategy. Through careful, thoughtful leadership, businesses can harness the power of diversity not just as a moral imperative, but as a driver of innovation, talent, and long-term success.