On Breakingviews – Hong Kong bank showcases the XX factor, says KatrinaHamlin:
Chief Secretary for Administration Carrie Lam Cheng Yuet-ngor stands beside other officials during a news conference to announce the new team of principal officials appointed in Hong Kong June 28, 2012, ahead of the 15th anniversary of the territory's transfer from British rule to China on July 1. REUTERS/Tyrone Siu
Efforts to achieve a better balance in the working world, especially at the highest levels, have been a slog. Female representation in boardrooms is ticking up, but slowly. Roughly one in five directors across the Fortune 1000 were women last year. And only around 5 percent of CEOs of S&P 500 and FTSE 100 constituents have two X chromosomes.
Louisa Cheang became CEO in 2017, following Rose Lee and Margaret Leung, who served in the role from 2012 and 2009, respectively. The 86-year-old bank credits pragmatism more than any specific policy. Senior leaders argue that an efficient meritocracy doesn’t discriminate, and promoting the most talented individuals is good for business.
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