What if women ran Wall Street?
(31 March 2010 – Australia) The United States Secretary of Treasury, Tim Geithner, spoke at the Women in Finance Symposium last week highlighting the ‘disparities in opportunities for women in business and finance’.
In the opening of his speech Mr Geithner said he recently read an article asking what it would be like if women ran the hyper-competitive money hub of the United States.
The Secretary of Treasury pointed out that it was an excellent question.
The Symposium was held to highlight opportunities for women in finance, to create ideas for new ways to govern banks and to right the economy and financial markets.
Mr Geithner pointed out that currently only 17 percent of seats in Congress are held by women and only three percent of Fortune 500 CEOs are women.
Mr Geithner said that despite the United States Government’s efforts to create a more balanced playing field with the passing of a Federal Employees Paid Parental Leave Act, and the President signing into law the Lilly Ledbetter Fair Pay Restoration Act, improvements are still needed.
There are deep disparities in opportunities for women in business and finance, and the business community should have a strong interest in removing those disparities, he highlighted.
Catalyst, a leading organisation working to expand opportunities for women in business, found that companies with more women on their boards outperform those with the least by 66 percent.
The critical test of justice in any society is whether people face equality in the opportunities available to them, whether they have a chance to advance and excel on the basis of merit and effort and drive and dedication, Mr Geithner concluded.
The Symposium brought together many strong women in business and finance to bring attention to the issue, including government figures such as Sheila Bair and Mary Schapiro.
The Secretary of Treasury pointed out that it was an excellent question.
The Symposium was held to highlight opportunities for women in finance, to create ideas for new ways to govern banks and to right the economy and financial markets.
Mr Geithner pointed out that currently only 17 percent of seats in Congress are held by women and only three percent of Fortune 500 CEOs are women.
Mr Geithner said that despite the United States Government’s efforts to create a more balanced playing field with the passing of a Federal Employees Paid Parental Leave Act, and the President signing into law the Lilly Ledbetter Fair Pay Restoration Act, improvements are still needed.
There are deep disparities in opportunities for women in business and finance, and the business community should have a strong interest in removing those disparities, he highlighted.
Catalyst, a leading organisation working to expand opportunities for women in business, found that companies with more women on their boards outperform those with the least by 66 percent.
The critical test of justice in any society is whether people face equality in the opportunities available to them, whether they have a chance to advance and excel on the basis of merit and effort and drive and dedication, Mr Geithner concluded.
The Symposium brought together many strong women in business and finance to bring attention to the issue, including government figures such as Sheila Bair and Mary Schapiro.
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