Female executives in financial services are increasing
The number of female executives in financial services has risen by over a quarter, according to research by Bloomberg.
The 2017 Bloomberg Financial Services Gender Equality Index (BFGEI) showed that there were 25.2% more women filling executive roles in the financial sector between 2014 and 2015 than in the previous fiscal year.
Participating companies, including Barclays, Mastercard, Citigroup and Deutsche Bank, also demonstrated a 24.2% increase in female membership on their boards.
Peter T. Grauer, Bloomberg Chairman and Founding Chairman of the U.S. 30% Club said: "We are encouraged by the significant expansion of this year’s index, and by the leadership each of our member firms has demonstrated.
"Their commitments to building diverse and inclusive work environments are setting new standards around the globe and raising awareness around the challenges all of our organisations face."
The 30% Club was founded to help grow leadership and governance qualities on boards through gender balance and diversity.
BFGEI 2017 Key Findings
- Nine out of 52 firms surveyed track repayment rates by gender.
- 73% are required to consider a gender diverse selection of candidates for management roles.
- 83% offer or sponsor financial education programs for women in their communities.
- Three in four of the included businesses have 'return to work' initiatives for female employees.
The BFGEI was launched in 2016 and collects data from 52 financial sector firms in 17 different countries. Members of the BFGEI commit to a social survey that identifies gender-specific policies, products and support networks within their businesses.
Angela Sun, Head of Strategy and Corporate Development at Bloomberg, said: “Companies are increasingly focused on managing operational risks, including the attraction and retention of employees.
"The BFGEI brings greater transparency to the practices and policies crucial to managing those risks and attracting investor capital.”
In a move towards improving gender equality in the financial services, EY and PwC were among 72 UK firms who signed the Women in Finance charter last July, committing to gender diversity targets in the remuneration packages of their executive teams.