Patricia Callan tapped into leading the push for more women in finance

Patricia Callan, Director of Financial Services Ireland, has been appointed to chair a steering group for Ireland’s Women in Finance Charter.

Treasury Secretary Seán Fleming announced his appointment to the industry-led, state-backed initiative.

It comes as research by rating agency DBRS Morningstar found that gender diversity at board level in banks is improving but lagging behind in senior positions.

In Ireland, the proportion of women directors on bank boards, at 41 per cent, is dramatically higher than the 34 per cent of management and leadership positions held by women.

Across Europe, a tiny handful of women hold the key positions of CEO and CEO.

Only at DBN from Norway are both top positions occupied by women.

Francesca McDonagh’s departure from Bank of Ireland for a new role at Credit Suisse reduces the number of women CEOs of banking groups in Europe to four from five in 2021.

Ulster Bank’s exit from the Irish market also means the loss of its CEO, Jane Howard, from a senior leadership position.

The Women in Finance Charter is one of a number of groups created to increase the proportion of women in leadership positions.

Signatories commit their organizations to taking action by promoting women in leadership and board positions to achieve a more gender balanced and inclusive work environment. Progress towards the goals is monitored and reported by ESRI, although the goals themselves are not enforceable.

In accordance with the mandate of the Charter Steering Group, the Minister appoints an Industry Chair for a two-year term.

Patricia Callan said greater gender balance leads to a larger talent pool and a greater diversity of perspectives, leadership styles, innovation and creativity in the industry.

“This means higher productivity and an even more significant contribution of financial services to the overall economy. Government support and ESRI involvement means this charter brings new weight to our collective efforts to make our industry a reflection of our customer base and broader society.” Patricia Callan tapped into leading the push for more women in finance

Fry Electronics Team

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