Date
17 October 2017
Women in Singapore are nearly twice as well represented at the top level of businesses as their counterparts in Hong Kong are. Photo: www.diversityaction.sg
Women in Singapore are nearly twice as well represented at the top level of businesses as their counterparts in Hong Kong are. Photo: www.diversityaction.sg

Financial services sector slow in unleashing woman power

Women make up only one-fifth of boards and 16 percent of executive committees in financial services worldwide, global management consultancy Oliver Wyman says in its report “Women in Financial Services”.

This is only a slight improvement in both categories since the report was last published in 2014.

The firm says that at the present rate of progress it will not be until 2048 when women will make up 30 percent of executive committees in the financial services industry worldwide.

That is the threshold at which research suggests a minority’s voice begins to be heard.

Women have the highest representation on executive committees in Norway and Sweden, and Japan and South Korea have room for the greatest improvement.

The report includes an analysis of 381 financial services organizations in 32 countries, a survey of 850 financial services professionals around the world and interviews with more than 100 senior female and male leaders.

In Asia, the percentage of executive committee members in financial services who are women runs from 31 percent in Thailand to 2 percent in Japan.

1) Thailand 31 percent

2) Singapore 23 percent

3) Hong Kong 13 percent

4) India 11 percent

5) China 8 percent

6) South Korea 4 percent

7) Japan 2 percent

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RA/FL

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