The lack of women in finance is unfair to women and bad for banks, International Monetary Fund Managing Director Christine Lagarde has said.
Lagarde spoke with Yahoo Finance over the weekend at the World Economic Forum.
“There’s something wrong,” said Lagarde, who has helmed the IMF since 2011. “If you look at the composition of boards in that sector, only 20% of them are women. If you look at the CEOs of the financial sector, only 2% are women … our societies don’t look like that. And if you look at graduates from universities and business schools, it doesn’t look like 20% or 2%. It’s a lot more than that.”
Lagarde made the comments in a conversation that appeared on Yahoo Finance on Thursday at 5 p.m. EST in a special Davos episode of “Influencers with Andy Serwer,” a weekly interview series with leaders in business, politics, and entertainment.
Lagarde said the absence of women in finance harms banks because “you have to mirror your client base.
You have to include all talents and you have an unbelievable source of untapped talents.”