Thursday November 27, 2014

Cultural obstacles still block women from Wall Street CEO posts

A “clubby atmosphere” amongst Wall Street executives is often cited as a hindrance keeping females out of the C-suite.

Fox Business declares that cultural issues continue to be among the greatest hindrances keeping females out of the C-suite on Wall Street. Gayle Mattson, who runs the board and CEO practice at executive-search firm DHR International, states, “These are businesses that have been resistant for women to take part in them anyway. The vestiges of those cultures are still intact in some of these companies.” In addition, there remains a “clubby atmosphere” on Wall Street, which has likely hurt some rising women execs. The 2011 Catalyst census showed that even though women comprise 40.5 percent of all employees in the securities, investment banking, and commodities sector, they account for only 17.7 percent of the executive officers. “Out of the 38 female CEOs in the Fortune 1000,” Fox Business adds, “just one is from a financial company — Beth Mooney, 56, of KeyCorp.”

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