Where are the Women on Wall Street? Cultural Obstacles Still Block CEO Posts
Originally published on Fox Business
While the glass ceiling keeping women out of the C-Suite was shattered at blue-chip technology and industrial companies many years ago, it continues to hover over the sharp-elbowed world of Wall Street.
The causes of this unseen barrier to the CEO position remain complex, but insiders point to Wall Street's reluctance to change its aggressive, hard-charging and clubby culture that can stifle rising females.
And even though a number of women have briefly flirted with the highest rungs of the financial world, the prospects do not appear strong that a major Wall Street firm will hire its first female chief executive any time soon.
“I think the cultures have to undergo a tremendous amount of more change before we're going to see a woman CEO of a major financial-services firm,” said Gayle Mattson, who runs the board and CEO practice at executive-search firm DHR International. “I just don't see it happening in the next five years.”
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