Alison Rose's resignation from NatWest leaves just one woman in charge of a major western European bank, highlighting an acute gender imbalance that persists across the sector despite pledges to increase female representation.
"The loss of one of European banking's highest profile female leaders in this manner sends a worrying message to women looking for a seat at the top table," Ann Francke, CEO of the Chartered Management Institute, said of Rose's exit from NatWest.
"The loser in all of this is the wider economy as the data shows that increasing women's representation in senior positions across business, politics and public life is a positive thing: diversity of thought and experience leads to innovation - and delivers better business results."Across the broader financial services sector, however, a recent study by EY found that hiring of women at board of directors level in Europe had actually dipped.
Companies appointed women to 44% of board openings in the 12 months through June 2023, down from 52% during the previous year. The overall gender split has nevertheless improved to 43% female and 57% male on the boards of European financial firms, EY found, from a 37%/63% split a year ago. Reporting by Brenna Hughes Neghaiwi; additional reporting by Tom Sims in Frankfurt, Iain Withers in London and Jesus Aguado in Madrid; Editing by Catherine EvansCovers German finance with a focus on big banks, insurance companies, regulation and financial crime, previous experience at the Wall Street Journal and New York Times in Europe and Asia.
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