Saw this in the news today...
Bank bosses should hire more senior women if they want their bonuses, says Government-appointed report
Virgin Money boss calls for executive pay to come with a requirement to improve representation of women in top financial roles
Bank bosses should have their bonuses tied to increasing the number of senior women in their companies, according to a report commissioned by the Treasury.
As part of an effort to address the gender imbalance in the financial world, companies should also publish how many men and women they employ and appoint an executive for diversity, said the report by Jayne-Anne Gadhia, the chief executive of Virgin Money.
"It should be a wake-up call to everyone in financial services that fewer women progress to senior levels than in any other industry in the UK," said Ms Gadhia, who was asked in July to explore the issue.
"There are many views as to why that might be. Motherhood, remuneration, the 'old boys' network' are all mentioned, but only scratch the surface of an issue that has been hidden for too long."
The recommendations will be reviewed by Harriett Baldwin, the economic secretary to the Treasury, and a panel of senior businesswomen comprising Goldman Sachs partner Michelle Pinggera, HSBC executive Francesca McDonagh, Hedge Fund Standards Board chairman Dame Amelia Fawcett and JP Morgan's Stephanie Flanders. More detailed recommendations will be made next year.
The report comes a week after Lord Mervyn Davies published his final conclusion on efforts to bring more women onto the boards of large British companies. Since his first report in 2011, all FTSE 100 companies have hired at least one female director, pushing the overall representation of women directors from 12.5pc to more than 26pc.