ECB to Scrutinize Gender Diversity When Banks Name Top Officials

The European Central Bank will seek to ensure lenders respect national frameworks and their own rules on gender diversity when naming top officials in an industry that’s still dominated by men.

Women only account for a quarter of top management at European banks and a third of their boards, said Andrea Enria, who leads the ECB’s supervisory board. Many European banks lack diversity policies and those that do have them “still have a long way to go in terms of implementing them fully,” he said.

Enria said that most bank boards don’t offer strong enough oversight, which “has hampered the quality of debate” regarding decisions taken by executives in the pandemic. The ECB will also encourage lenders to consider expertise related to climate change as it upgrades its guidance on the appointment of board members, he said in a speech on Friday.

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