Rise in Female Representation in Irish Financial Services Sector

By: GWL Team | Thursday, 11 July 2024

A new data has been found from the initiative that states an increase in the proportion of women who are working in financial services sector’s senior management levels. There’s over 40 percent increase in Women in Finance Charter signatory firms across Ireland.

As per the charter, female representation on boards have increased to 39 percent among original signatories that comprises of 65,000 employees across 91 firms. This increase was noticed in the initial months of 2024 which is up from 33 percent of 2022.

The figure increased to 37 percent, considering the executive committees, from 2022’s third. These original firms have a quarter of female CEOs that shows an increase from 2022’s 4 percentage points.

Neale Richmond, Minister of State for Finance said, “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. With 91 firms now signatory to the Charter, representing over 65,000, or 50% of all employees in the financial services sector, good progress has been made. However, there is still much more work to be done.”

Women representation increased from 37 percent to 41 percent at senior management level across charter signatories as a whole whereas a rise from 30 percent to 35 percent on executive committee level.

Wells Fargo Bank International CEO and Women in Finance Charter steering group’s Chair, Fiona Gallagher stated, “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. 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.”