Ladies make up almost a 3rd of monetary service agency boards, report says By Reuters

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© Reuters. FILE PHOTO: A woman casts a shadow as she walks on a footpath past a cafe on a sunny winter day in central Sydney, Australia, July 25, 2017. REUTERS / David Gray / file photo

From Simon Jessop

LONDON (Reuters) – The proportion of women on the boards of 200 of the UK’s leading financial firms has risen to nearly a third in the five years since the government launched an initiative to improve the gender balance in the industry, a report said Monday.

Since the introduction of the HM Treasury Women in Finance Charter in March 2016, the proportion of women on corporate boards has risen from 23% to 32%, the think tank New Financial said in a review of the charter’s effects.

The percentage of women on executive committees has increased from 14% to 22%, she added. Based on the current rate of change, women would have equal representation in boardrooms in 2029 and in management bodies in 2033.

“While women’s representation is a step in the right direction, there is still a long way to go,” said Yasmine Chinwala, partner at New Financial and co-author of the report.

“If the industry is to maintain the pace of change for the next half decade, it will have to face tougher challenges.”

This includes the need to build a pipeline of female talent, ensure responsibility is taken across the company, and develop more women in revenue-generating roles.

“In the next five years we need to move from talking to action, from isolation to collaboration and from a close perception of gender diversity to include women from all walks of life and every part of society,” said Amanda Blanc, CEO of a UK insurer Aviva (LON :).

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