❝ The male-dominated finance industry is missing out on more than $700 billion a year in revenue by failing to listen to or tailor products for women, according to management consultancy Oliver Wyman.
“Women are arguably the single largest under-served group of customers in financial services,” Jessica Clempner, the report’s lead author, said…“Firms are leaving money on the table by not listening to and understanding their women customers.”
❝ The problems are compounded by lack of women in senior management in the finance industry. Just 20% of finance executives globally are women, up from 16% in 2016, the report said. The industry continues to grapple with many of the same challenges as it has in the past, including the mid-career gap that holds many women back, it said.
NSS. Every few years some “open-minded” analysts roll out a report like this one. Gets a couple hours coverage on a Bloomberg afternoon show. Vanishes. Financial industry in America is about as self-aware as a clam.