Gender gap in the financial sector must be further tackled – comments by Sharon Bowles MEP and Olle Schmidt MEP

Today the European Parliament's Economic and Monetary Affairs Committee voted on a resolution by ALDE MEP Sharon Bowles (LibDems, UK) on gender balance in the financial services sector. The report states that gender imbalance is not adequately addressed and remains alarming, despite the European Commission's efforts and awareness among EU leaders.

ECON chairperson Sharon Bowles MEP said: "The current lack of any substantial progress to have greater gender balance on boards is unacceptable. Critical situations call for drastic measures. I fully support the Commission in taking further measures to address the gender gap regarding executive directors in the financial sector. If that means we need quotas, so be it: the time has come for action. Public bodies need to start leading by example."

Despite the growing presence of suitably qualified and experienced women in the recruitment pool, women represent only a 13.7% of members in the largest European corporate boards and only 3.2 % of chairpersons are female.

ALDE MEP Olle Schmidt MEP (Folkpartiet, Sweden) said: "It is vital that the EU sets a gender balance example. All EU institutions, bodies and agencies in the financial sector should commit to establishing and implementing gender targets and gender neutral lists of candidates. Moreover, the principles of gender balance should be introduced into the rules governing EU internal staffing procedures."

The ALDE group recently campaigned for the Council to appoint a woman to the all-male ECB executive board.

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