The Armed Forces Covenant was signed by the Bank of England, pledging that those who serve or who have served in the armed forces, and their families, are treated fairly.
The agreement formalises the Bank's commitment to supporting the Armed Forces community and recognises the contribution to the country that serving military personal, veterans and their families have made and continue to make.
The covenant was signed by Andrew Bailey, the Governor of the Bank of England, and General Sir Patrick Sanders, Commander United Kingdom Strategic Command, on behalf of Defence.
General Sir Patrick Sanders said:
Through deep historical military roots, it is abundantly clear that in signing the Armed Forces Covenant, the Bank of England understand and recognise the value of supporting the Armed Forces community.
The Bank recognise the importance of our nation's defence and those that form it.
Andrew Bailey, the Governor of the Bank of England said:
I am proud that today the Bank of England has entered into the Armed Forces Covenant. We recognise the value serving personnel, reservists, veterans and military families bring to the Bank. By signing the Covenant, we hope to demonstrate our appreciation of their contributions and how we hope to support them in the future.
As the UK's central Bank and financial leaders in the city the covenant was also signed by The Lord Mayor, William Russell. The Lord Mayor of the City of London is the head of the City of London Corporation, the governing body of the Square Mile dedicated to a vibrant and thriving City, supporting a diverse and sustainable London within a globally-successful UK. The Lord Mayor is also President of the City of London Reserve Forces' and Cadets' Association, so only fitting that he should also pledge alongside the Bank.
The Bank of England is not just our friendly neighbour at Mansion House, it is the pre-eminent institution in the Square Mile - and throwing its weight behind the Armed Forces Covenant is a significant step. The City of London Corporation signed the AFC back in 2013 and personally too, as President of the Reserve Forces & Cadets Association in the City, I feel a strong affinity with reservists for both their days jobs in financial institutions and their parallel careers in uniform. City reservists help to maintain this historic and global centre, our modern financial markets and the defence of all the things which business needs to go about its day safely. The Square Mile is one the UK's greatest strengths, for which we are recognised around the world, and so are our Armed Forces.
Alderman William Russell, the Lord Mayor of the City of London.
By becoming a forces friendly employer and choosing to partner with defence by signing the Armed Forces Covenant (AFC) an organisation demonstrates its intention to support the Armed Forces community and provides the signatory with the opportunity to be recognised by the Employer Recognition Scheme (ERS) award. An ERS award shows that the recipient is delivering tangible support for the Armed Forces community. The Ministry of Defence (MOD), as the representative of HM Government, welcomes these commitments and is grateful for the support being pledged and provided.
To date nearly 8,000 organisations have signed the Armed Forces Covenant including businesses and charities nationwide since its introduction 2011.
