At current progress, female representation at executive committee level is set to hit 30% in 2048 at financial firms.
That is according to the latest Women in Financial Services report from Oliver Wyman, reporting little change since the previous such report in 2014.
Female executives are more likely to leave a financial services employer at mid-career in than any other industry, the new study found.
On boards today, women have the highest representation in Norway and Sweden, while Japan and South Korea are almost entirely male dominated.
“The low representation of women on executive committees in particular is a problem,” said Ted Moynihan, managing partner of financial services at Oliver Wyman.
In Germany and Switzerland, asset management and risk functions within organisations were cited as problem areas, while China’s Fintech sector and millennial women in the US were seen as leading the charge.
Equality of pay, as well as issues of corporate leadership style, were cited as challenges.
“An organization’s key business and strategic decisions are made by its Executive Committee and they are also highly visible, both internally and externally, making them effective as role models and sponsors – and driving business success,” Moynihan said.
The report included an analysis of 381 financial services organisations in 32 countries, a survey of 850 financial services professionals around the world and interviews of more than 100 senior female and male leaders.