EXECUTIVE ROLES STILL OUT OF REACH FOR MANY WOMEN IN BANKING

Study Shows Small Climb for Female CFOs, But Little Progress Elsewhere

Roseville, Minn. (10/2/07) – Although three out of four bankers are women, they still represent fewer than one in five banking executives, according to Financial Women International, the longest-standing association devoted to the advancement of women in the banking and financial services industry.

Released this week, the FWI Foundation’s 2007 Women at the Top™ study shows little change from 2006 in the number of women in executive-level positions at the nation’s largest commercial banks. The association has sponsored the study nearly every year since 2000 as part of its mission to develop leaders and accelerate careers for financial services professionals.

The 2007 study found that women hold just 16.1 percent of executive positions at the nation’s 100 largest nationally chartered commercial banks, a slight decline from 17.9 percent in 2006. Nine percent have female CEOs, an increase from less than 5 percent a year ago.

At the nation’s 100 largest state-chartered commercial banks, women hold 13.5 percent of executive positions, compared with 14.7 percent in 2006. Three percent have female CEOs, up slightly from less than 1 percent in 2006.

Women are making modest strides in attaining the position of chief financial officer: 18.3 percent of state-chartered banks had female CFOs in 2007, up from 10.4 percent in 2006.

Still, the results show that more than one-third (37.3 percent) of nationally-chartered banks and one-half (52.3 percent) of state-chartered banks have no female executives.

All of the results, based on 2006 data, represent responses from 67 nationally-chartered banks and 65 state-chartered banks. The data is tabulated for the FWI Foundation by William Carey College in Hattiesburg, Miss.

“The study’s findings continually reinforce the need to provide women with training and opportunities to develop their leadership potential,” said FWI President Regina Barr, CEO of the management consulting firm Red Ladder Inc. in Inver Grove Heights, Minn.

 “As more seasoned managers begin to retire in the banking industry, the need for well-qualified leaders will be greater than ever,” Barr added. “The industry must begin identifying women for those roles and investing in their future by cultivating that talent.”

To gain insight into the industry’s future staffing needs, the FWI Foundation developed a new study this past year. The Leadership Gap™ study found that more than half of bankers (60 percent) expect to tap a wider talent pool for leaders, including women and minorities, to fill leadership shortages caused by baby boomers’ retirement.

“FWI can help women focus on career strategy,” said FWI Foundation Chair Cindy Haas, senior vice president of private banking at Anchor Bank in Eagan, Minn. “We offer a supportive environment to build the skills sets and experience needed for career advancement.”

FWI recently developed the Professional Fitness™ Leadership Development Series, with three new seminars designed to help women develop critical competencies for leadership. They include Initiative and Risk Taking, Problem Solving and Decision Making, and Delivering High Quality Results.

For more information about Financial Women International, please visit www.fwi.org or call toll-free 866-236-2007.

Financial Women International and its Foundation are dedicated to developing leaders, accelerating careers, and generating results for professionals in the banking and financial services industry. Membership is comprised of financial executives representing all 50 states, Canada, and Russia.