Top of Mind – July edition

Protiviti, for the third consecutive year, has sponsored 'The Hidden Truth' report from WB Directors. This report highlights the state of gender representation in boardrooms. While progress has been significant over the past decade thanks to initiatives like the FTSE Women Leaders Review, female representation is far from equal, especially in listed firms outside of the FTSE 350. It reveals that just 12.7% of key roles—like Chair, SID, CEO, and CFO—are held by women, with merely 0.7% being women of color. This underrepresentation underscores the need for boards to champion equity.
 

Why it matters: More than 15 years after the great financial crisis, the financial industry’s culture and conduct remain very much in the headlines. Has nothing changed?

Big picture: A lot has indeed changed, though bad actors still manage to prevail at times. Maintaining good culture and conduct relies on the collective efforts and responses of financial institutions, regulators, and customers.

Call to action: We itemize a list of steps for senior management and boards of directors to establish and sustain a strong culture and ethical conduct within their institutions.