More Women Rise to Senior Roles in HK Finance Sector: New Report

• At present, a higher number of women are placed into senior positions in financial institutions in Hong Kong
• This is due to regulatory change and corporate activity addressing gender diversity
• Women hold 45% of senior roles of CEO, managing director, or senior executive

Hong Kong's financial sector has seen a significant increase in recent years of women in senior jobs and board directorships, with this increase being underpinned by regulatory reforms and corporate-led initiatives to increase gender diversity, a survey published on Tuesday found.

The report, co-published by the Women Chief Executive Network, KPMG, and The Women's Foundation, concluded that women currently occupy 45 percent of senior leadership positions – including CEO, managing director, and senior executives – in banks, asset managers, insurance companies, and fintech companies. This is up 11 percent points from 34 percent in 2018.

Also, 37 percent of directors of boards in Hong Kong's financial industry are female, up 16 points from 21 percent in 2018.

The results rely on employment information from 24 member firms of the Women Chief Executive Network and a July-April survey of 532 finance professionals.

The network comprises 60 female executives who serve in top financial institutions like UBS, Standard Chartered, and Citigroup.

Some of the well-known members are Amy Lo Choi-wan (UBS), Mary Huen Wai-yi (Standard Chartered), Aveline San Pau-len (Citi), and Bonnie Chan Yiting (HKEX).

Respondents placed Hong Kong at the top among global financial centres as far as social acceptance is concerned for women progressing to senior levels.

Nearly 76 percent of them also mentioned the city's safety as a pivotal factor facilitating women's career growth.

UBS Global Wealth Management Asia Chairman Amy Lo explained that Hong Kong's entrepreneurial culture and openness facilitate diversity naturally, allowing women to lead with authenticity and confidence.

To further emphasize women's leadership in business, the first Women Chief Executives Summit 2025 will be held on November 3, preceding the Global Financial Leaders' Investment Summit hosted by the Hong Kong Monetary Authority, which will have 300 banking leaders from around the world.

Regulatory reforms have been a key driver of this advancement. New HKEX guidelines encouraging board gender diversity have had a substantial effect in cutting the number of listed companies with no female directors.

Yet, the report also outlined persisting challenges. While 77 percent of women in finance at the entry-level feel supported in seeking leadership positions, that percentage falls to 59 percent among mid-career workers.

The report indicates companies can build support further with improved parental leave policies and mental health programs.

The document also observes that the use of AI and digital tools in the financial industry creates new avenues for women to develop and grow their careers.