Women in financial sector: Breaking the glass ceiling
The reasons behind the rise of women leaders in the Indian financial sector and what other sectors can learn from BFSI
Women hold only 14 per cent of the board seats at S&P Composite 1500 Index companies, according to Ernst & Young. Women in Asia occupy just 1.1 per cent of CEO, CFO, country head and related positions, according to a 2012 Catalyst study
Historically, finance and investment banking have been seen as male bastions. The occasional handbag or the saree did make an appearance once in a blue moon with only a few making it to the top of the financial pyramid across the world. However, a decade into the 21st century, their corporate power and influence is low although women represent half or more of the workforce in many countries. So when US President Barack Obama nominated Janet Yellen as the chairman of the US Federal Reserve, it created shockwaves as she would be the first female leader in its 100-year history. In India, the first woman to become a deputy governor was Kishori J. Udeshi and that was in 2003. The country’s apex bank is yet to see a female RBI governor. In a country where boys are prized over girls and where many women quit work after marriage and child birth, there has been a surprising rise of women leaders across financial institutions. The country’s top three banks in the country – S...
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