© Reuters. FILE PHOTO: The city’s financial district high-rise buildings disappear in clouds as the spread of the coronavirus disease (COVID-19) continues during an extended lockdown and a demand by the German government for more home office possibilities in Frankfu
LONDON (Reuters) – The percentage of women appointed to board-level roles at large financial services firms in the European Union fell last year, making it harder for the sector to meet the bloc’s looming diversity target, a survey from consultants EY showed on Monday.
The European Financial Services Boardroom Monitor showed that 44% of all appointments last year were of women, down from 51% in 2022, with 31% of listed European financial services firms still reporting under 40% female representation on their boards.
Under EU “Women on Boards” rules, companies will have to meet a minimum 40% female target for non-executive boards, or 33% for all board members, by June 2026.
“The 40% level of female representation at board level is a minimum to build from, not a level to work towards,” said Omar Ali, managing partner for EMEIA financial services at EY.
Across European financial services boardrooms, female directors still remain significantly less likely than their male counterparts to have the experience of c-suite roles, such as CEO or CFO, or hold a senior board position, EY said.
