International Women's Day 2025

International Women's Day (IWD) on March 8 celebrates the social, economic, cultural, and political achievements of women.

This year's IWD campaign theme - Accelerate Action - focuses on "the importance of taking swift and decisive steps to achieve gender equality". It calls for "increased momentum and urgency in addressing the systemic barriers and biases". But, how is the finance and accounting sector performing in the face of this urgent call?

UK government statistics

The government-backed annual FTSE Women Leaders Review reported that in the 100 biggest listed companies, the proportion of women in the boardroom was 44.7% (up on 2023). The report is co-sponsored by the Lloyds Banking Group.

The Guardian (Feb 25) quoted Chancellor Rachel Reeves as saying:

"The UK is leading the charge for gender equality in boardrooms,
but we cannot rest on our laurels..."

Women in Banking & Finance is a UK membership network that has championed women in financial services for over 40 years. Their community held a series of event leading up to IWD celebrating, inspiring, and taking action towards greater gender equity in financial services.

G7 countries

France leads the G7 countries for women in the boardroom, with the UK in second place.

Progress in France has been accelerated due to the 2021 Rixain law, which set a mandatory quota of 40% of women on boards by 2029.

One step forward, two steps back

Deloitte US recently ended its diversity, equity and inclusion (DEI) programme and banking giant Goldman Sachs have followed suit, dropping their formal board diversity policy "as a result of legal developments related to board diversity requirements".

These events follow President Trump's reversal of DEI measures since entering office, in a crackdown on federal agencies and government contractors. Trump reportedly has the US attorney general's office looking into how he might also restrict DEI within the private sector.

US "Most Powerful Women in Finance" list

It's not all doom and gloom though. In 2024 women were heading up some of the largest US financial institutions according to the latest list of 25 highly successful women.

The top positions held by female professionals include CEO of asset and wealth management at JPMorgan Chase, chair and CEO of Fidelity Investments, president and CEO of Franklin Templeton, head of global credit finance and head of global acquisition finance at Goldman Sachs, chief institutional client officer at TIAA, and president and chief investment officer at Russell Investments.

The Global Ethical Finance Initiative (GEFI)

However, according to GEFI there remain 115 economies where laws prevent women from running a business in the same way as men, and 167 countries that have laws restricting women's economic opportunity.

Amnesty International

In direct response to the "patriarchal crusade" of President Trump and other world leaders against women Amnesty International's Secretary General, Agnès Callamard, has stated on their website that:

"The significance of International Women's Day 2025 cannot be overstated.
It is no longer a case of addressing unfinished business on the gender justice
front, but one of bracing ourselves to resist active regression and a mounting
assault on our rights."