They are increasingly in the financial market
Increasing the presence of women is a challenge in the financial market. But a growing group of banks and wealth managers have more women in executive positions. Diversity helps.
The Exame article, "They are increasingly in the financial market," quoted Russell Reynolds Associates Consultant Fernando Machado on changing company culture. A translated excerpt of the article is below.
D&I is a challenge to all sectors, but especially so in financial services. The financial services market is an environment known, still today, for its truculence and male-dominated mindset portrayed in films such as The Wolf of Wall Street, with expressions like bull market and bear market that represent the highs and lows of the stock market.
Research from the US-based executive recruitment firm Russell Reynolds Associates includes 339 executives from financial services in more than 20 countries, including Brazil, and shows that only half of them believes their leaders recognize diversity polices. In more advanced markets, like governamental, NGO and culture, the proportion reaches 87%. Financial Services really struggles with the recognition and reward of inclusive leaders.
However, when looking at managing positions, there is a long way to go, according to Gender 3000 Research by Credit Suisse. Globally in financial services, women occupy only 20% of these positions. In Brazil, in all segments, this number falls to 8%. To have women in companies' leadership roles is, therefore, doubly important because the fostering of a diverse culture must come from inclusive leadership. “It’s the most effective way to make a culture change,” says Fernando Machado, Consultant at Russell Reynolds.
To read the full article in its original Portuguese, click here.