Magazine article American Banker

Women in Banking: Byrne's Leadership Index; All-Male Shortlists Banned; Peetz on Social Finance

Magazine article American Banker

Women in Banking: Byrne's Leadership Index; All-Male Shortlists Banned; Peetz on Social Finance

Article excerpt

Byline: Tanaya Macheel

The Social Pressure is On: Barclays vice chairman of investment banking Barbara Byrne recently rang the opening bell at the NYSE to launch the Women in Leadership Index, which is comprised of 85 companies that have female CEOs or boards that are at least 25% female. The idea is to create social pressure on companies to be more inclusive and supporting of women in the workplace and at the executive level, she said. Byrne, repeatedly one of American Banker's Most Powerful Women in Finance, said she'd also like to see more women in the government sector who have finance-related senior leadership positions. "Things are moving in the right direction, but it does at times seem to be slower. But every time you get a Janet Yellen or ... Christine Lagarde, who's obviously performing brilliantly in her position, people see the professional. They don't see the woman. And that's the way it should be."

New Recruiting Rules: Lloyds Banking Group has banned all-male shortlists for assistant vice-president level candidates and higher, requiring at least a third of those listed to be women. "No shortlist of candidates will be progressed until this objective is received without exception," the bank said in an email to recruitment firm Resource Solutions. The new standard follows earlier promises from Lloyds to give 40% of its top 8,000 jobs to women by 2020. It intends to be at 31% by the end of this year, although one employment lawyer said this hardly addresses the gender imbalance in the industry. "If I flip this on its head, they are still saying that two-thirds of candidates can be men -- it's not even a 50/50 requirement," she said.

The Power of Porat: Wall Street vet and ex-Morgan Stanley exec Ruth Porat, who left to run Google as CFO, now has that same title at Alphabet, the newly created holding company for Google's many businesses. As CFO of Alphabet she'll oversee capital allocation for each business and compensation for each of their CEOs. Porat ranked third on American Banker's Most Powerful Women in Finance list last year.

Role Call

Wells Fargo has hired Allianz veteran Jasmine Jirele to head its trust operations team and oversee the roughly person retirement division. At Allianz she was senior vice president of enterprise operations for its North American life insurance group.

Cornerstone Bank in York, Neb., has tapped Kris Holoch to succeed her father Kelly Holthus as the bank's chief executive. Holoch previously served as executive vice president and on the board.

Wintrust Financial in Rosemont, Ill., has named Kathleen Boege general counsel. Boege will replace Lisa Pattis, who will leave next month to join Next Chapter Holdings as president. Next Chapter manages the investments of the Pattis family and the Pattis Family Foundation. Boege joins Wintrust from a railroad freight car manufacturing company.

Central Pacific Financial in Honolulu has appointed Anna Hu, currently a senior vice president and credit administration division manager, to step into the interim role of chief credit officer. She will take over the credit-related responsibilities of the departing chief risk officer, who just announced his resignation. …

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