A new report shows how Europe´s financial industry has made significant progress in boosting women´s representation on boards.
The report by London-based think-tank New Financial indicates women are now in a majority at some firms in terms of their representation on boards.
Overall, the study found that women accounted for 26% of boards by the end of 2016 compared with 20% two years earlier. Meanwhile, the proportion of women in executive roles rose from 15% to 18% over the period.
Women in the majority
New Financial claimed that women were holding more than half of board positions at the UK´s Pensions Regulator, certain Swedish pension funds and French group Societe Generale.
The think-tank also said that all segments of Europe’s financial services industry had raised women´s presence on boards and at a senior level over the past couple of years.
Standard Chartered and Lloyds´s of London ranked well in terms of the proportion of senior executive roles occupied by women, with 43% and 44% respectively.
At the same time, the research showed there had been more progress in increasing representation at the board level than at the broader executive level.
According to New Financial, the increased representation at the board level had also been made with the help of quotas.
Those interviewed in the survey also said that many women were still cutting their careers short because of factors such as poor work/life balance and a dearth of support for families.
In terms of sectors, banks came top at the board level, where around a third of positions were occupied by women. However, just 13% of senior executive positions were attributed to women within the sector.
Regulators and trade bodies fared relatively well, with women accounting for some 30% of senior executive roles in this area. Meanwhile, hedge funds and private equity firms achieved the lowest ranking on this measure, with just 9% and 10% respectively.
As part of its research, New Financial surveyed some 240 entities across 12 separate financial services subsectors.