The biggest banks of Europe are not delivering on promises to hire more women in top positions; not a single woman has been appointed CEO in the past two years. The following report has been shared through an analysis.
At the same time, almost half of the CEOs of the 30 largest banks, such as Barclays, Credit Suisse, HSBC, Santander and UBS, were replacing during that period.
The findings, which came via analysis, are in line with the results of a survey by rating agency DBRS Morningstar, which established that diversity is beginning to be seen in the boardrooms but is lagging behind in executive positions.
The majority of European banks have repeatedly promised to improve gender diversity at the top. The subject is also becoming increasingly important for investors and regulators, but if a vacancy opens up at the top, ultimately, the lenders continue to choose men over women.
As per the DBRS Morningstar report mentioned that, “Action required to be taken to achieve greater gender equality in leadership roles.” It argued that a high degree of diversity in the workplace can improve employee innovation and commitment. There is also proof that companies with a high degree of gender diversity outperforms their peers financially.