|Women are making their presence known in the banking industry, which was once almost entirely dominated by men.|
Many women pursuing banking careers have reached powerful positions. Bank of America, JPMorgan Chase, Citigroup, East West Bank, Wells Fargo, TD Banknorth, U.S. Bancorp, Sterling Savings Bank, and Wachovia all have women in their upper echelons of management.
U.S. Banker also recognizes “Top Banking Teams.” The 2006 awards in this category went to U.S. Bancorp, Wells Fargo, and Citigroup. Based on factors like financial performance of the company, percentage of female corporate officers and management committee members, number of senior women executives in the company, financial performance of women executives in leading business units and functional areas, and analysts’ feedback on women positioned for growth, these awards acknowledge the roles and contributions of women in the banking industry.
The women who comprised the winning teams at the three banks represented all functions of the banking industry, demonstrating that women are excelling in banking careers in all functional areas, including commercial real estate, commercial banking, consumer banking, wealth management, corporate banking, and payments. Women working for banks also head business support units, including finance, human resources, risk, legal, operations, technology, and credit divisions.
Banks are “the best places to work,” according to Fortune as well as many working mothers. While discrimination still exists, the height of the glass ceiling has risen, providing women opportunities to rise further in their banking careers. Advancement is possible even for women who start out working as tellers since banks provide on-the-job training. Management training programs offer chances for women to prove their worth and chart their growth.