Female leadership rising across financial services

• In 2025, the average proportion of women on boards of signatory firms increased by 2.1 percentage points year-over-year to 38.4%
• The average proportion of women at executive committee level increased by 3.2 percentage points to 34%
• Internal appointments to managerial positions were more gender balanced (51% female share) than external appointments (44%).

Newly released data from Ireland’s Women in Finance Charter show that female leadership rates are improving across financial services among Charter signatories. 

The findings are part of the Charter’s Annual Report 2026, which is compiled by the ESRI and financed by the Government of Ireland/Department of Finance. The latest report reveals that female representation in the boardroom, executive committee, senior and middle management levels is trending upwards. 

Ireland’s Women in Finance Charter is a joint industry-government initiative launched in 2022. Part of the government’s Ireland for Finance Strategy, the Charter seeks to improve female representation in financial services and on latest count has 104 signatory firms. Banking &  Payments Federation of Ireland (BPFI), Insurance Ireland, Financial Services Ireland (FSI) and Irish Funds are founding members and alongside Brokers Ireland and Enterprise Ireland, provide operational and communications support for the Charter’s signatories. 

In total, 99 firms contributed to the 2026 annual report, representing more than 71,000 employees, with women making up ~51% of those workers.

The report also asked firms to identify barriers they face in improving female representation at their respective companies. 

Supporting the career development of existing employees was identified as crucial for increasing female representation. Internal appointments to managerial positions were more gender balanced (51% female share) than external appointments (44%). Additionally, the actions ranked as most effective by firms were: female career development/ leadership training; sponsorship and mentoring; as well as seeking better gender balance in succession planning.

The gender pay gap remains high, however, with a 16% average wage differential between male and female employees at the firms surveyed in the report. 

Among five signatory firms interviewed additionally for the study, childcare infrastructure, both availability and cost, was identified as a significant barrier to female advancement in their sector. 

The report was officially launched on July 13 at the Central Bank of Ireland by EU Commissioner for Democracy, Justice, the Rule of Law and Consumer Protection, Michael McGrath and Minister of State for Finance with responsibility for Financial Services, Credit Unions and Insurance, Robert Troy TD. 

Minister Troy said: “I welcome the findings of the 2026 annual report, which showcases continued progress in female representation in financial services. Launched as part of the Ireland for Finance strategy and since the start of this year supported by new direct funding by Government, the Women in Finance Charter is a strong example of effective public-private collaboration. I encourage firms that are not yet members to join and contribute to improving female representation in the sector. The work of the Charter is also important to firms who are looking at their wider diversity and inclusion initiatives, and I see real opportunity in using this as a benchmark to look at areas like disability, non-Irish employees, and neurodivergence.

I would also like to congratulate Cathy on her appointment and look forward to working with her during the course of her term.”

Commissioner McGrath said: “Transparency and fairness are fundamental tenets of EU activity, nowhere more evident than in the area of gender representation. Significant progress has been made in advancing greater equality. Initiatives such as the Gender Pay Transparency Directive, the Women on Boards Directive, and the Work-Life Balance Directive provide a strong framework for continued progress. I am proud to be part of today’s event celebrating Ireland’s contribution and its demonstrated impact in advancing these principles.”

Speaking ahead of the launch, the Tánaiste and Minister for Finance Simon Harris TD highlighted: “Access to childcare is identified in the report as a significant barrier to career progression. Expanding access to affordable, high-quality childcare remains a key Government priority, and I am committed to supporting meaningful progress in this area. Further work on promoting inclusive workplace practices alongside engagement with wider challenges and opportunities facing the financial services sector such as artificial intelligence, will continue to be a focus within the new Ireland for Finance strategy which is due to be launched later this year.”

The report launch coincides with the introduction of the new Chair of the Women in Finance Charter Steering Group for 2026-2028, Cathy Bryce, Managing Director of Capital Markets, AIB. Cathy, who succeeds Fiona Gallagher of Wells Fargo, outlined that:

“The publication of this report today is an important moment, but we recognise that the sustained effort of both industry and Government is vital throughout the year to deliver on these ambitions. I look forward to working with signatories, industry and the public sector to drive further success in the months ahead.”

The use of artificial intelligence is a major development in the workplace and one that is also having an impact on female representation, as Dr Helen Russell, Research Professor at the ESRI and co-author of the report explained: "Artificial Intelligence was highlighted as a key change in the industry that has the potential to disrupt current patterns. It is particularly important to ensure those on career breaks, maternity leave, returning to the workforce, or entering the workforce are not left behind by the current pace of change. Access to training in new technologies will be important to prevent skill gaps."

On the issue of the gender pay gap and potential remedies, Eva Slevin, Research Assistant at the ESRI and co-author of the report added: "Having declined in 2024, the gender pay and bonus gaps stalled among signatory firms over the last year — and have even widened on some measures. Gender pay gap reporting is now a requirement for all firms above 50 employees. This is an important tool for change to highlight where gaps are greatest, and to allow firms to benchmark their performance.  The Pay Transparency Directive, when it is fully implemented in Ireland, will help people to make informed job decisions and will strengthen employee bargaining power in hiring and promotion discussions."