Ignoring Women Costs $700 Billion a Year

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.

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