# At Europe’s big banks, women make some gains despite Rose exit Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2023-07-31 Category: NEWS Category URL: https://financedigest.com/category/news Meta Title: Europe's Big Banks: Gender Imbalance and Female Meta Description: Despite Alison Rose's resignation from NatWest, Europe's largest banks have seen a slight improvement in gender balance in executive management teams, URL: https://financedigest.com/at-europes-big-banks-women-make-some-gains-despite-rose-exithtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/2023-07-31t060601z2lynxmpej6r0p4rtroptp4natwest-results-1736813712519-compressed.jpg) # At Europe’s big banks, women make some gains despite Rose exit By Brenna Hughes Neghaiwi and Tom Sims ZURICH (Reuters) -Alison Rose’s resignation from NatWest leaves just one woman in charge of a major western European bank, highlighting an acute gender imbalance that persists across the sector despite pledges to increase female representation. But while Rose’s departure means Europe’s 25 biggest banks by assets are still 96% male-run, an analysis by Reuters has found that broader executive management teams have become slightly more balanced since last year. Top management teams at Europe’s [largest lenders](https://www.financedigest.com/russias-largest-lender-sberbank-on-track-to-profitability-says-ceo.html "Russia’s largest lender Sberbank on track to profitability, says CEO") are now 30.6% female, data compiled by Reuters shows, up from 25.6% for the same group of banks in early 2022. Since Reuters conducted its study of gender diversity in banking leadership last year, only one other woman has joined the ranks of [chief executives – French cooperative bank](https://www.financedigest.com/naturgys-profit-rises-on-lng-gains-soothing-shareholders-by-pietro-lombardi-madrid-reuters-spanish-power-utility-naturgy-reported-on-monday-an-88-jump-in-profit-for-the-first-six-months-of.html "Naturgy’s profit rises on LNG gains, soothing shareholders By Pietro Lombardi MADRID (Reuters) – Spanish power utility Naturgy reported on Monday an 88% jump in profit for the first six months of the year, boosted by strong earnings at its liquefied natural gas (LNG) business, which could help it to win over restive investors. Earlier this month, the company said it would increase its dividend floor through 2025 while trimming expected investment, as it sought to make rewarding shareholders a priority. Pleasing them has become a focus as Naturgy considers changes that could reshape the company and after arguments over the potential appointment of a chief executive. Naturgy’s first-half net profit jumped to 1.05 billion euros (.16 billion), boosted by its liquefied natural gas (LNG) business. Shares were down 0.2% in mid-morning trading, bucking deeper declines, in particular for Spain’s blue-chip banks and utilities after a general election on Sunday produced no clear winner. Renta 4 Banco analyst Angel Perez Llamazares said Naturgy performed better than expected, adding “cash flows also beat our expectation,” and debt fell more than expected. After natural gas prices hit record levels last year, Naturgy said a fall in procurement costs this year and hedging gains had boosed profits. In the first half of the year, the company “exceeded the objectives of operating efficiency, cash generation, investment materialisation and debt reduction,” Executive Chairman and CEO Francisco Reynes said. After rival Iberdrola named a separate CEO last year, Naturgy is the only large energy company in Spain to combine the roles of executive chairman and CEO. Earlier this month, the company raised the dividend floor to 1.40 euros a share, from 1.20 euros. Operating profit (earnings before interest, tax, depreciation and amortisation) is expected to reach 5.1 billion euros, compared with a previous guidance of 4.8 billion euros. It said it was targeting net profit of 1.8 billion euros in 2025. Naturgy also relaunched its plan to split regulated infrastructure operations and liberalised energy businesses into two listed companies. The project had been suspended after the Ukraine war disrupted energy markets and analysts are still sceptical. “We believe it is unlikely that Naturgy will be able to implement its asset split in the short term and it is also unlikely that a big change in the shareholding of the company would occur,” said RBC analyst Fernando Garcia. ( = 0.8986 euros) (Reporting by Pietro Lombardi, editing by Inti Landauro and Barbara Lewis)") Credit Mutuel’s Isabelle Ferrand, appointed to the role in May. New CEO jobs at UBS and SocGen both went to men. The loss of one of European banking’s highest profile female leaders in this manner sends a worrying message to [women](https://www.financedigest.com/young-leaders-forum-paul-forkans-top-5-tips.html "Young Leaders Forum: Paul Forkan’s Top 5 Tips") looking for a seat at the top table,” Ann Francke, CEO of the Chartered Management Institute, said of Rose’s exit from NatWest. The loser in all of this is the wider economy as the data shows that increasing women’s representation in senior positions across [business](https://www.financedigest.com/two-speed-economy-in-sweden-central-bank-business-survey-shows.html "Two-speed economy in Sweden, central bank business survey shows"), politics and public life is a positive thing: diversity of thought and experience leads to innovation – and delivers better business results. Across the broader [financial services](https://www.financedigest.com/striking-the-balance-between-consistent-creative-and-compliant-content-for-financial-services-on-social.html "Striking the balance between consistent, creative, and compliant content for financial services on social ") sector, however, a recent study by EY found that hiring of women at board of directors level in Europe had actually dipped. Companies [appointed women to 44% of board](https://www.financedigest.com/impact-com-announces-appointment-of-ning-wang-to-board-of-directors.html "impact.com Announces Appointment of Ning Wang to Board of Directors") openings in the 12 months through June 2023, down from 52% during the previous year. The overall gender split has nevertheless improved to 43% female and 57% male on the boards of European [financial firms](https://www.financedigest.com/why-financial-services-firms-are-banking-on-behavioural-biometrics-to-beat-fraud.html "Why financial services firms are banking on behavioural biometrics to beat fraud"), EY found, from a 37%/63% split a year ago. (Reporting by Brenna Hughes Neghaiwi; additional reporting by Tom Sims in Frankfurt, Iain Withers in London and Jesus Aguado in Madrid; Editing by Catherine Evans) --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---