Europe's biggest banks 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, according to an analysis by Bloomberg news agency.
At the same time, almost half of the CEOs of the 30 largest banks, such as Barclays, Credit Suisse, HSBC, Santander and UBS, were replaced during that period.
Bloomberg's findings 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.
Many 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.
“Action needs to be taken to achieve greater gender equality in leadership roles,” the DBRS Morningstar report noted. It argued that a high degree of diversity in the workplace can improve employee innovation and commitment. There is also evidence that companies with a high degree of gender diversity outperform their peers financially.
