The European Financial Services Boardroom Monitor showed that 44% of all appointments last year were of women, down from 51% in 2022, with 31% of listed European financial services firms still reporting under 40% female representation on their boards.
Under EU "Women on Boards" rules, companies will have to meet a minimum 40% female target for non-executive boards, or 33% for all board members, by June 2026.
"The 40% level of female representation at board level is a minimum to build from, not a level to work towards," said Omar Ali, managing partner for EMEIA financial services at EY.
Across European financial services boardrooms, female directors still remain significantly less likely than their male counterparts to have the experience of c-suite roles, such as CEO or CFO, or hold a senior board position, EY said.
(Reporting by Huw Jones; Editing by Susan Fenton)
