How serious is corporate America about pushing diversity in the boardroom? A recent majority staff report by the U.S. House Financial Services Committee criticized financial service companies — especially large banks — for lack of diversity not only in the ranks, but especially at the board level.
In fact, the committee staff found that women accounted for only 29% of senior executives across big banks and financial service companies while minorities were only 19%. That number dropped dramatically in the boardroom, where directors were 80% white and 70% male.
The report noted in its findings that diversity in leadership enhances competitiveness, improves innovation and as a study by two Federal Reserve economists found, increases performance and profits. But the report also shows diversity in the upper ranks has a long way to go.
In the gallery above are 12 firms that have the highest percentage of board directors who are women, according to diversity data gathered by the committee on 44 big banks. We also show the minority director percentage (when available) as well as institutional asset size at the end of 2018.
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