Exclusive Exclusive: Only 8 Percent Female Executives in German Banks, Study Finds

Just 8 percent of all executives at Germany’s top 100 banks are female, according to a study by the German Institute for Economic Research, which Handelsblatt has obtained before its official release on Wednesday. That means that only 30 women made it to the top of German financial institutes, while 364 men hold executive positions there. In the insurance industry, the number is only slightly higher at 9 percent female executives. On the non-executive supervisory board of financial firms, the ratio of women is traditionally higher. But here, too, banks and insurances “are far from a balanced gender ratio,” as authors Elke Holst and Anja Kirsch wrote in the report. The share of female supervisory board members stands at 21 percent at banks, and 19 percent at insurers. In both banks and insurance firms, the study found an overall increase of just 1 percent in the share of women in executive positions, compared to last year, and a 3-percent rise in non-executive supervisory jobs. “In no other industry was the gender pay gap greater in 2014 than in the financial sector; it stood at 31 percent,” according to the study.   Read the full story in Wednesday’s Handelsblatt Global Edition at 12:00 Central European Time.