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Women Hold About One-Fourth of Leadership Jobs
Women still hold around one-quarter of senior-level management positions at large community banks, according to the latest "Women at the Top" study, conducted by Financial Women International.
Twenty-three percent of senior-level bank managers were women at the 40 community banks that respondedto the survey - in all, 51 women out of 224 bank leaders. The group included one CEO, three chief operating officers, two chief financial officers and 32 senior vice presidents.
In addition, at least 188 women had the title of vice president or assistant vice president.
The study found that 38 percent of respondent banks had no women in leadership positions.
"If you look at the research, companies with more women in senior management have a higher return on equity. Progressive financial institutions know this," said FWI President Melissa Curzon, president of Triumph Solutions, Inc. in Mission Viejo, Calif. "Our industry is evolving rapidly right now, and as a result more opportunities will be available to women with the right experience and education in place."
The 2008 study found that women held 27 percent of executive-level bank positions at 48 of the nation's 50 largest community banks.
Finance students at Weber State University in Ogden, Utah, led by FWI member and finance instructor Terrilyn Morgan, conducted the study. Students identified the nation's 50 largest community banks , defined as banks with less than $1 billion in assets, using Federal Reserve data. Respondent banks ranged in size from $270 million to $968 million in assets. Data was collected through online research and contact with human resources managers. Financial Women International has conducted the study regularly since 1999.
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