Monday 19 July 2021 8:24 am

Women account for a third of financial services boards, report says

Women now make up a third of boards at 200 of the top British financial firms according to a report, as the government marks five years since it set out to improve gender balance in the male-dominated sector.

The number of females on company board has risen to 32 per cent, think tank New Financial said in a review of the HM Treasury Women in Finance Charter. The charter was launched in 2016 when females made up under a quarter of boards, at 23 per cent.

Three out of five firms either increased or maintained their proportion of women in senior management during the reporting period.

Female presence on executive boards also increased from to 22 per cent from 14 per cent, the report added.

The figures mean that if the current rate of change continues, female parity in the boardroom would be achieved in 2029, and on executive committees in 2033.

“If the industry is to maintain the pace of change in the next half decade, it will have to take on the tougher challenges,” said Yasmine Chinwala, partner at New Financial and co-author of the report.

They include building a pipeline of female talent, ensuring accountability is taken across the organisation and developing more women in revenue-generating roles.