Celebrating 19 Years in Financial Services Recruitment: A Reflection

This month marks my 19th year working in Financial Services recruitment in London. Over nearly two decades, I’ve witnessed incredible changes in the industry. One of the most significant shifts has been the growing emphasis on diversity and inclusion (D&I).

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What was once dismissed as a buzzword has become a cornerstone of many firms’ hiring and retention strategies. Yet, as much progress as we’ve made, there’s still a long way to go to achieve true equity.

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Let’s consider some key statistics:

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• In 2022, 19 women held CFO or Finance Director roles in the FTSE 100—up from just 3 in 2005. While that’s progress, the majority of appointments are still going to men
• Among Fortune 500 companies, only 12% of CFOs are women
• In the first six months of 2024, just 44 out of 163 CFOs appointed globally were women, according to Raconteur
• Within the FTSE 100, only 25% of finance directors are female—a stark reminder of the challenges that persist

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These figures highlight the systemic barriers women face in reaching the highest echelons of finance leadership. And yet, the data also demonstrates the measurable benefits of appointing female CFOs. A 2019 study by S&P Global Market revealed that within the first two years of appointing a female CFO, companies recorded a 6% increase in profits and an 8% improvement in stock performance.

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To better understand these challenges and inspire future generations, I’ve been meeting and interviewing female CFOs working in Financial Services as part of my series, Breaking Barriers: She Means Business.

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Their stories highlight resilience, strategic insight, and the crucial advice they have for aspiring finance leaders.

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The first interview will be out next week, and I am really excited to bring this series to life. This is a real passion project of mine, and I hope it will be something that inspires!

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If you are a female Senior Finance leader working in Financial Services and would like to take part in the series, please contact me: lou.corbally@goodmanmasson.com