Latest news with #GenderBalanceIndex
South China Morning Post
18-04-2025
- Business
- South China Morning Post
Global financial institutions make progress in gender balance amid anti-DEI steps: report
Global financial institutions remain less than halfway towards the goal of achieving gender balance in their workforce, despite recording the biggest improvement since at least 2021 amid a backlash against diversity, equity and inclusion (DEI) initiatives in North America, according to a report. Advertisement Their average score rose to 42 this year from 37 in 2024 in the Gender Balance Index (GBI) compiled by Official Monetary and Financial Institutions Forum, a London-based platform for central banking, economic policy and public investment. The report, published in partnership with US money manager Franklin Templeton, tracks representation of women in 335 institutions including central banks, commercial banks, pension funds and sovereign wealth funds. Commercial banks led the charge, with 58 per cent of them scoring higher than in 2024, likely as a result of policies and efforts dedicated to empowering the initiatives over the past decade. Three institutions – Banco Central de Chile, Ontario Teachers' Pension Plan and Norges Bank Investment Management – achieved perfect scores of 100, the report showed. 03:00 Female athletes and executives join Angel Ng of Prudential at Women Aces in Leadership Female athletes and executives join Angel Ng of Prudential at Women Aces in Leadership While the GBI scores improved, 'the talent pipeline only shows modest gains', the report said, adding that anti-DEI moves in the US may cause contagion globally. 'Even more concerning is that this modest progress is at risk, given the political climate in 2025 and growing backlash against [DEI] efforts.'
Yahoo
16-04-2025
- Business
- Yahoo
Financial institutions' gender balance progress under threat, study shows
By Marc Jones LONDON (Reuters) -The rise in the number of women holding top jobs at leading financial institutions has slowed over the last year and further progress is under threat as the United States and other countries roll back diversity drives, a new report has shown. The annual Gender Balance Index published by the London-based OMFIF think tank on Wednesday showed the share of female leaders of central banks, commercial banks and sovereign and pension funds at an all-time high of 16%, although that was "only decimal points higher" than last year. The share acoss all senior positions was also just one percentage point higher at 32%, while the index, which measures overall gender balance, stood at 42 out of 100, "less than halfway to gender balance". Diversity efforts face a testing time as the U.S. government under Donald Trump seeks to remove diversity, equity and inclusion programmes from federal agencies and push the private sector to follow suit. "While the U.S. has been most vocal in this retreat, there is evidence of contagion on a global scale, with institutions in Asia and Europe also rolling back policies," the report said. There has nevertheless been some progress. Sovereign funds, which manage a nation's wealth, had the largest year-on-year index score improvement, taking it to 38, double where it was 2021, with progress predominantly driven by emerging economies. A record 30 women now head central banks and, as a group, the 50 commercial banks in the study also saw their largest index score increase since their inclusion in 2021. But the pipeline of female talent is thin: the overall share of women in executive C-suite roles increased to 19% from 15%, but almost half of the commercial banks in the index still have no women in their C-suite. Female CEOs remain also below 15%, with one woman CEO appointed last year against nine new men. The share of women in pension fund C-suite roles also fell to 28% from 31% the previous year. The modest progress could go into reverse, the report said, noting six of the biggest U.S. banks – Citi, Morgan Stanley, Wells Fargo, Bank of America, Goldman Sachs and JPMorgan – were all cutting their diversity, equity and inclusion programmes. "Although it is too soon to say what implications this rollback will have on gender balance, given the instability in its pipeline, it is likely that North America may not remain the highest-scoring region in the future," it said. (Additional Reporting by Simon Jessop; editing by Barbara Lewis)
Reuters
16-04-2025
- Business
- Reuters
Financial institutions' gender balance progress under threat, study shows
Summary Number of women in top banking jobs inches higher US under Donald Trump turns away from diversity Evidence of 'contagion' on a global scale LONDON, April 16 (Reuters) - The rise in the number of women holding top jobs at leading financial institutions has slowed over the last year and further progress is under threat as the United States and other countries roll back diversity drives, a new report has shown. The annual Gender Balance Index published by the London-based OMFIF think tank on Wednesday showed the share of female leaders of central banks, commercial banks and sovereign and pension funds at an all-time high of 16%, although that was "only decimal points higher" than last year. The share acoss all senior positions was also just one percentage point higher at 32%, while the index, which measures overall gender balance, stood at 42 out of 100, "less than halfway to gender balance". Diversity efforts face a testing time as the U.S. government under Donald Trump seeks to remove diversity, equity and inclusion programmes from federal agencies and push the private sector to follow suit. "While the U.S. has been most vocal in this retreat, there is evidence of contagion on a global scale, with institutions in Asia and Europe also rolling back policies," the report said. There has nevertheless been some progress. Sovereign funds, which manage a nation's wealth, had the largest year-on-year index score improvement, taking it to 38, double where it was 2021, with progress predominantly driven by emerging economies. A record 30 women now head central banks and, as a group, the 50 commercial banks in the study also saw their largest index score increase since their inclusion in 2021. But the pipeline of female talent is thin: the overall share of women in executive C-suite roles increased to 19% from 15%, but almost half of the commercial banks in the index still have no women in their C-suite. Female CEOs remain also below 15%, with one woman CEO appointed last year against nine new men. The share of women in pension fund C-suite roles also fell to 28% from 31% the previous year. The modest progress could go into reverse, the report said, noting six of the biggest U.S. banks – Citi, Morgan Stanley, Wells Fargo, Bank of America, Goldman Sachs and JPMorgan – were all cutting their diversity, equity and inclusion programmes. "Although it is too soon to say what implications this rollback will have on gender balance, given the instability in its pipeline, it is likely that North America may not remain the highest-scoring region in the future," it said.
