New Data Shows Increase in Female Representation Among CEOs to 26%. The proportion of women in senior management roles within the financial services sector has risen to over 40% among firms that are part of Ireland’s Women in Finance Charter, according to new data from the initiative.
The charter, encompassing 65,000 employees across 91 firms, revealed that among the original signatories, female representation on boards increased to 39% at the beginning of 2024, up from 33% in early 2022. Representation on executive committees rose to 37%, up from 33% in 2022. Additionally, the proportion of female CEOs among these original firms grew by four percentage points since 2022, reaching 25%.
Overall, among all charter signatories, female representation at senior management levels increased from 37% to 41%, and at the executive committee level, it grew from 30% to 35%. Female representation among CEOs rose from 22% to 26%, and on boards, it grew from 35% to 39%.
The charter also noted progress beyond the highest ranks. Firms that joined the charter in 2023 saw female representation at junior management levels increase from 43% at the start of 2023 to 52% at the start of 2024.
“We are seeing real progress in the financial service sector becoming more diverse, and the latest report on the Women in Finance Charter is a testament to this,” said Minister of State for Finance, Neale Richmond. “With 91 organizations already signing on to the Charter, representing over 65,000 employees, or 50% of all employees in the financial services sector, significant progress has been made. However, there is a lot more work to be done.”
Mr. Richmond emphasized the importance of more firms joining the Charter to build upon the existing progress.
“The statistics included in this latest report on the Women in Finance Charter show that tangible progress is being made in making the financial services industry more diverse,” said Fiona Gallagher, CEO of Wells Fargo Bank International and Chair of the Women in Finance Charter steering group. “Increased participation of women at all levels within the industry makes good business sense, and the work done by the signatory firms thus far has to be commended.”
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