There are professions historically linked to one gender and others, on the contrary, are not. Almost everyone thinks of men when talking about footballers and women when it comes to flight attendants. Try entering these professions into the internet image search engine you have closest at hand and judge the results for yourself.
I must say, however, that the financial sector, so identified throughout history with the figure of the traditional banker —think of Mr. Banks from Mary Poppins— has undergone a complete turnaround regarding gender equality. Today, numerous women head private and public institutions, whether national, European, or international, in regulatory bodies and regulated entities, with the same dedication, diligence, and integrity as their male predecessors. Join me as we review them, because there are quite a few.
It is worth starting at the national public level, highlighting Nadia Calviño, Minister for Economic Affairs and Digital Transformation and Third Vice-President of the Government; Margarita Delgado, Deputy Governor of the Bank of Spain; Montserrat Martínez, Vice-President of the CNMV; and Paula Conthe, Chairperson of the Fund for Orderly Bank Restructuring (FROB). But some might think it is not all about political decisions. In the private sphere, two of the country’s most important banks are managed by women; although they hardly need an introduction: María Dolores Dancausa, CEO of Bankinter, and Ana Botín, Executive Chair of Banco Santander and recently appointed President of the European Banking Federation. A position that, by the way, had never been held by a woman before.
Traveling to Europe, the female presence extends to key institutions within the Banking Union. We find the French Christine Lagarde as President of the European Central Bank, Elke König in the position of Chair of the Single Resolution Board, Ursula von der Leyen as President of the European Commission, and Mairead McGuinness as Commissioner for Financial Stability, Financial Services, and Capital Markets Union.
All these women lead institutions linked in one way or another to the financial sector and take on a very demanding level of responsibility in their roles. Among these responsibilities, let us not forget, are precisely those associated with gender equality and the establishment of appropriate policies and procedures to achieve this goal in their respective organizations. It is to their credit that they were among the first to arrive and clear the path. It is their duty, however, to eliminate possible existing barriers to ensure that the highest levels of organizations, of whatever nature, have sufficient and appropriate representation of women. Not by decree, but to take advantage of the enormous talent possessed by qualified professionals.
This group of leaders is also a benchmark for women working in the sector and an inspiration for future generations. They can be key when many others make one decision or another in their professional careers. Seeing that it is possible, that other women have achieved it, encourages you to keep going, not to abandon your career, and to fight for the professional goals you always dreamed of.
The fact that some women have reached the highest levels of responsibility in the sector cannot make us believe that our duties are finished. There is still a long way to go in terms of gender equality. Great progress has been made in the financial sector, both in the share of women in bank workforces and in management positions, especially in recent years. But in Spanish companies as a whole, much work remains; we must continue working to make female talent visible: from encouraging girls to pursue science, technology, engineering, and mathematics (STEM) careers, to programs such as mentoring or promotion schemes that actively include female talent within companies. Even more so after the economic consequences of the pandemic, which have especially affected working women. In the banking sector, a pioneer in addressing diversity issues, we must continue on this path and achieve the effective implementation of these policies. As a spearhead in the development of a more egalitarian society, we have the responsibility to serve as an example for other companies and expand our principles among our clients, suppliers, investors, shareholders, and other stakeholders.
Let us value the position of women in the financial sector. This is the momentum.
Carmen Rizo, Public Policy Advisor at the Spanish Banking Association (AEB)
