The Future Can Be Female: Starting the Finance CEO Pipeline Earlier
March 15, 2021 by Jane Carten
When I walk into a room and see a crowd full of white men over the age of 40, I know I’m in the right place. Lack of diversity in the asset management industry is a fact that is palpable.
Earlier this fall, when Jane Fraser was announced as the next CEO of Citigroup, there was much celebration for the first woman to head a Wall Street bank. One Fortune headline promised a tell-all about how Fraser “broke banking’s highest glass ceiling.” An article in the Financial Times stated that there was an “amorphous sense of tribal pride, a collective ‘we did it.’”
But given Citi’s recent regulatory troubles — resulting in a $400 million fine for “unsafe and unsound banking practices” — Fraser’s promotion may appear, to the cynical, like just another example of an extremely capable woman being appointed to a glass cliff. It’s been well documented that women and minorities are more likely to be promoted to “top leadership roles when an organization is in crisis.”
Click HERE to read the full story via ThinkAdvisor
