Pension fund boards and executive committees across Europe have shown the strongest female representation in the capital markets sector, according to a report by New Financial.
The think tank study, Counting every woman 2016: gender diversity in the capital markets, showed boards on pension funds across Europe had 30% female representation and 27% on executive committees.
This is above the average female representation across all sectors of 23% on boards and 16% on executive committees.
The report measured gender diversity on boards and executive committee across 220 companies in 11 different sectors in the capital markets. This included banks, pension funds, asset managers, private equity, hedge funds, stocks exchanges, law firms and trade bodies.
It found pension funds took the majority of positions on the top 20 board and executive committee league tables in terms of female representation.
European asset managers were slightly ahead of the overall industry average, with women comprising 26% of board members and 15% of executive committee members.
Female representation on UK-based financial institutions still lagged behind France and Sweden when compared to last year's report. This was despite an increase of female on UK boards between 2014 and 2015 from 16% to 24% and from 13% to 14% on UK executive committees.
Executive committees of financial services organisations across Europe still lagged behind boards with on average 16% of executive committee members being female.
Female board membership had increased by 3% over the past year, while female executive committee membership had grown by only 1%.
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