EU watchdog to crack down on banks who failed to implement policy on boardroom diversity

The European Banking Authority said data collected at the end of 2021 showed that women account for only 18% of executive and 28% of non-executive directors

The European Union’s banking watchdog said on Tuesday it will crack down on the 28 per cent of banks it found to have failed to implement a mandatory policy on boardroom diversity.

Women earned on average 9.5 per cent less than male executive directors, and 6 per cent less than male non-executive directors. “We will take action here and look at what national supervisors are doing,” Bernd Rummel, senior policy expert at the EBA, where women make up 60 per cent of the directors. Nearly half of the banks sampled had no female executive director, even though firms with gender diversity have a higher-than-average return on equity of 7.9 per cent, compared with 5.3 per cent for those with only male executive directors, the EBA said.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

globeandmail /  🏆 5. in CA

Philippines Latest News, Philippines Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Calgary Airport Authority names Chris Dinsdale new president and CEOOn Monday, the authority announced Dinsdale will replace outgoing president and CEO Bob Sartor, who announced his departure in March of 2022
Read more »

Chris Dinsdale named new Calgary Airport Authority CEOOn Monday, the authority announced Dinsdale will replace outgoing president and CEO Bob Sartor, who announced his departure in March of 2022
Read more »

Private mortgage risk flagged by regulators amid growth in shadow bankingCanadians are taking on riskier mortgage loans and holding them for longer. Find out more.
Read more »

Private mortgage risk flagged by regulators amid growth in shadow bankingCanadians are taking on riskier mortgage loans and holding them for longer. Find out more.
Read more »

Private mortgage risk flagged by regulators amid growth in shadow bankingCanadians are taking on riskier mortgage loans and holding them for longer. Find out more.
Read more »

Private mortgage risk flagged by regulators amid growth in shadow bankingPrivate mortgage risk flagged by regulators amid growth in shadow banking via financialpost
Read more »