Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Men in Finance Have `Reprehensible' Dominance

Don't Miss Out —
Follow us on:
Ratio of Women Staff & Board Members

By Simon Clark

Finance is the most lopsided industry in the MSCI World Index when it comes to appointing women as directors and promoting them to management positions, according to data compiled by Bloomberg.

The Chart of the Day shows how banks, insurers and asset managers in the index of stocks in 24 markets have a disproportionately low percentage of female board members compared with employees, 51 percent of whom are women. Finance also scores lowest in matching the percentages of women workers and managers. The materials sector, including mining companies, does best in balancing its female workforce and directors, though in that industry just 18 percent of employees are women.

It's ``reprehensible for an industry to have a high level of women employees and a low level of women in management and on the board,'' said Joe Keefe, chief executive officer of Portsmouth, New Hampshire-based Pax World Management LLC and chairman of the nonprofit Women Thrive Worldwide. ``It is evidence of failure to hire, to promote, to retain and to mentor the women.''

Women are frequently overlooked for promotion and receive less mentoring and sponsorship than male peers, according to a report last year by Mervyn Davies, former CEO of Standard Chartered Plc in London. The relatively low number of successful female role models often compounds stereotypes, according to the report, commissioned by the U.K. government.

Helena Morrissey, CEO of Newton Investment Management Ltd., in London and founder of the 30 Percent Club, which seeks to boost women's numbers on boards, called the disparity between women employees and directors ``rather patronizing.''

The chart is based on the 455 companies in the index of more than 1,600 stocks that disclose information on the number of women employees and directors. The data are part of Bloomberg's environmental, social and governance (ESG) metrics.

--With assistance from Barbara Evans in London.

Visit www.bloomberg.com/sustainability for the latest from Bloomberg News about energy, natural resources and global business.

-0- Jan/31/2012 19:58 GMT

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.