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July 13, 2006 at 07:21 PM
Women and minorities held about 53% of management-level jobs at U.S. financial services companies in 2004, up from 48% in 1993.
Researchers at the U.S. Government Accountability Office have published those figures in a report on trends in management-level diversity and diversity initiatives in the financial services industry.
The researchers prepared the report at the request of the U.S. House Financial Services Committee.
One figure shows that white men held about 46% of managerial jobs at insurance companies in 2004. That compares with a share of 44% at banks and other credit institutions; 52% at investment trusts, investment companies and holding companies; and more than 57% at security and commodity brokerage firms.
Insurers ranked last in terms of employment of minority men as managers. Only 5.4% of insurance company managers were minority men in 2004, GAO researchers write in their report.
Insurers ranked in the middle in terms of employment of minority women as managers: 7.5% of insurance company managers were minority women. Minority women held more than 10% of the management posts at banks and other credit institutions but fewer than 6.5% of the management posts at investment companies, investment trusts, security and commodity brokerage firms.
