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Finance

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Contents 01 Editor’s

Contents 01 Editor’s Letter 02 Where in the World Is the Best Place to Be a Woman in Finance? 04 Q&A 08 Gender Pay Gap 10 Maternity/Paternity Leave 12 Boardroom Diversity 14 Central Banks 16 Women & Funds 17 Commentary by Helena Morrissey

Editor’s Letter: Cracks in the Ceiling RESEARCH IS BACKING up what many of us might have already assumed: more women often lead to better results. In our look for the best place to be a woman in finance, we find that diversity has become not just an option but a necessity, especially as most of the world is far from reaching gender parity. It is true that some countries are making strides. Take Poland, where its comparatively narrow 7 percent gender wage gap could close within the next decade. Yet there are others that are struggling to make a dent: Korea still has a whopping 36 percent gender pay divide. Nordic countries continue to come out on top in the pursuit of gender equality. Norway has the highest percentage of females on its boards at 39.7 percent, compared with 18.5 percent globally. While Europe is progressing farther than most other regions with its share of female board members, women in the U.S. have gained a much larger percentage of executive positions. Women are ascending the ranks of finance even in places like Saudi Arabia, a country where the female unemployment rate is more than 34 percent. Just this year, two women have taken top finance positions. In February, NCB Capital Co. Chief Executive Officer Sarah Al Suhaimi was named the first woman to chair Saudi Arabia’s stock exchange Tadawul. Soon after her appointment, Saudi Arabia’s Samba Financial Group announced Rania Mahmoud Nashar as CEO. Surprisingly, it’s central banks in Southeast Asia that are coming out on top for women in managing roles. And Singapore and Portugal have some of the highest percentages of women as mutual fund managers at 30 and 28 percent. In this special Bloomberg report, we also hear from women in finance from around the world on how they have broken through barriers, where they stand on boardroom quotas and what they’ve done to rise to the top of a male-dominated industry. When will the gender pay gap close? Can there be such a thing as too much maternity leave? We tackle these questions and more. Alison Ciaccio Bloomberg Reports Bloomberg Reports Managing Editor Paul Smith Editors Ainslie Chandler Alison Ciaccio Ayesha Javed Dana Pardini Siobhan Wagner Creative Director Robert Vargas Art Director Pekka Aalto Contributing Art Directors Ian Maready Chris Yerkes Marketing & Partnership Director Courtney Martens cmartens3@bloomberg.net +1-212-617-2447 Advertising Lucy Rosen lrosen23@bloomberg.net +1-212-617-6759 Reprints & Permissions Lori Husted lori.husted@theygsgroup.com +1-717-505-9701 x2204 To contact the editor responsible Alison Ciaccio aciacco1@bloomberg.net +1-212-617-2345 Produced by Bloomberg Briefs On the Bloomberg terminal at BRIEF Take your free trial of Bloomberg Brief newsletters today The newsletters pull together reporting, insight and analysis of over 45 senior editorial staff and dedicated economists to help you stay informed and ready for your daily business needs. To set up your free trial Visit bloombergbriefs.com or call us at +1-212-617-9030. Ask about our group subscription savings. © 2017 Bloomberg LP. All rights reserved. This newsletter and its contents may not be forwarded or redistributed without the prior consent of Bloomberg. Please contact our reprints group listed above for more information. 1

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