The Power of Women in Banking: Celebrating International Women’s Day 2026
International Women’s Day (IWD), a tradition upheld since 1911, marks its 115th year of celebration in 2026. The theme of this year’s IWD, Give To Gain, emphasizes the power of reciprocity and support, asserting that when women thrive, we all rise. This concept is particularly relevant in the banking sector, which has long been dominated by male leadership. However, the landscape is changing, with more women taking up leadership roles in banking and finance.
Gender Diversity for Better Business
The business case for women’s leadership, especially in banking, is robust and compelling. Gender diverse leaderships are associated with lower operating costs, greater returns on equity, and lower risk taking. However, women remain underrepresented in the upper management of companies, particularly in private equity and the venture capital sector.
As recently as the 1990s, less than 10% of all US banks had more than one woman on the board. Today, over half of US banks have three or more women on the board. The increase in female leadership demonstrates the significant strides made towards gender equality in the financial sector.
The UK: A Leader in Women Representation in Leadership
In the United Kingdom, it is reported that over 60% of FTSE350 companies are within striking distance of the 40% target for women’s representation in boardrooms. The FTSE Women Leaders Review report for 2025, shows that women now occupy 43% of roles on company boards and 35% of leadership roles in the FTSE 350 companies. These figures are a testament to the efforts made to increase gender diversity in leadership roles in the UK.
Quotas or Voluntary Progress?
There is an ongoing debate over the use of quotas to increase the number of women in leadership positions. France has adopted this method, while progress in the UK has been voluntary. Supporters of the voluntary approach argue that it allows the private sector to lead the way, with government support, without the need for overburdening regulation.
Voices from the Financial Sector
Many leaders in the financial sector emphasize that there is more to gender equality than just boardroom representation. Let’s hear from some of these leaders:
Tracy Cray, Managing Director, UK and Europe Operations, Chargebacks911 and Fi911
Tracy Cray advocates for practical change in hiring, progression and support for women in the workplace. She encourages organizations to have honest conversations about what works and what needs attention in promoting gender equality. Cray believes that real equality comes from consistent action over time.
Monica Eaton, Founder and CEO, Chargebacks911 and Fi911
Monica Eaton, sees International Women’s Day as a checkpoint for progress, emphasizing the need for clear pathways into leadership and stronger accountability. She believes that the next step towards gender equality is sustained follow-through.
Sarah Barslund Lauridsen, Chief Product Officer, Nexi Group
Sarah Barslund Lauridsen, highlights the need to address systemic barriers that limit women’s progression. She believes that real change happens fastest when it starts at the top, and when diversity is embedded into an organization’s culture, targets, and ways of working.
Ana Luisa Monteiro, CFO and Partner, Cumbuca, and former leader at XP Inc
Ana Luisa Monteiro, emphasizes the importance of women taking more risks and fighting for promotions and salary increases. She highlights the need for structural change, such as ensuring women on maternity leave continue to receive variable compensation.
Aidana Zhakupbekova, CFO, Rydoo
Aidana Zhakupbekova, stresses the need for finance leaders to create meaningful access and sponsorship that genuinely supports women’s progression. She believes that mentorship and visibility need to be backed by structural change and transparent promotion pathways.
As we celebrate International Women’s Day 2026, we acknowledge the progress made and the work still to be done. The financial sector, and indeed all industries, must continue to champion gender equality and diversity in leadership. Source: Retail Banker International
