Hire Female Financial Services Executives

Banking Is the One Sector Where EU Law Requires a Gender Target and a Supervisor's View of the Person

In most industries, gender balance on the board is a matter of national quota law, investor pressure or company policy. In European banking it is written into the prudential rulebook itself. The Capital Requirements Directive requires institutions to adopt a policy promoting diversity on the management body, and requires nomination committees to set a target for the under-represented gender and a plan for meeting it. The same directive requires every member of that management body to pass a fit and proper assessment by the supervisor.

So a bank appointing a woman to its executive board has to satisfy two tests at once: the appointment has to move the institution towards its own published target, and the candidate's file has to stand up to supervisory scrutiny. From 2026 the second test has become stricter. CRD VI brings the chief financial officer and the heads of internal control functions into the suitability regime and, for large institutions in member states that assess after appointment, requires the application to reach the supervisor at least 30 working days before the person takes up the role.

Financial services leadership in 2026: the facts that shape a search

Women hold 12% of CEO positions at EU banks and investment firms, and 45.87% of institutions have no women among their executive directors (European Banking Authority, April 2026, data as at 31 December 2024, covering 704 credit institutions and 163 investment firms).
The gap is in the executive function, not the board. Women hold 32.48% of non-executive positions but 21.78% of executive director positions, and 13.51% of chairs (EBA, April 2026).
The target is a legal requirement, but a third of institutions have not set one. Only 67.24% of institutions have a policy that includes gender representation targets: 72.59% of credit institutions and 44.17% of investment firms (EBA, April 2026).
More roles now need a supervisor's assessment. CRD VI, Directive (EU) 2024/1619, applies from 11 January 2026 and extends suitability requirements to the CFO and the heads of risk, compliance and internal audit. National transposition is still incomplete.

Female Executive Search searches for women in board, executive and key function roles across banking, investment firms and insurance, from executive and supervisory board seats to CFO, chief risk officer, compliance and internal audit leadership. We work on a milestone-based fee and back every placement with a six-month replacement guarantee.

Explore the profiles of financial services executives from our network below, or tell us what the role requires and we will come back with a shortlist.

Susie, General Secretary, UK

Over 30 years’ financial services experience in multiple jurisdictions, approved by Regulators in Gibraltar, UK and Malta • Set up Maltese operation in response to Brexit including obtaining license from MFSA and transfer of portfolio to new operation • Relations with regulators in Ireland and Italy to establish and maintain regulated branches and operations • Key stakeholder on multiple regulatory change projects including FCA licensing, GDPR, IDD, Brexit and Consumer Duty.

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What the Rules Actually Require: Diversity Targets, Fit and Proper, and CRD VI

The gender target is part of banking law

Article 88(2) of the Capital Requirements Directive, Directive 2013/36/EU, requires the nomination committee to decide on a target for the representation of the under-represented gender in the management body and to prepare a policy on how to increase that number to meet the target. The target, the policy and its implementation must be disclosed publicly under the Capital Requirements Regulation. Separately, the directive requires institutions to put in place a policy promoting diversity on the management body when recruiting its members.

For a search, the consequence is that a board appointment at a bank is measured against a number the bank has already published. Listed banks are also covered by Directive (EU) 2022/2381 on women on boards and by any national quota law that applies to them, but the CRD target reaches further: it applies to unlisted institutions too, and to the management body as a whole, executive members included.

Every member must pass a fit and proper assessment

Members of a bank's management body must at all times be of sufficiently good repute and possess sufficient knowledge, skills and experience to perform their duties, and the supervisor assesses whether they do. For significant institutions in the euro area, that assessment is carried out by the European Central Bank. For other institutions it is carried out by the national supervisor. Some member states require approval before the person takes office; others assess after appointment.

The assessment looks at the individual's record, not at the institution's intentions. A candidate who would move the bank towards its gender target still has to arrive with a documented history that shows the experience the role requires. That is the reason a narrow pipeline is so hard to fix quickly: an institution cannot appoint on potential and argue the case afterwards.

CRD VI makes the assessment earlier and wider

Directive (EU) 2024/1619, known as CRD VI, had to be transposed by 10 January 2026 and applies from 11 January 2026. Two changes matter most for hiring. First, in member states that assess after appointment, large institutions must now submit the suitability application for new members of the management body in its management function, and for the chair of the supervisory function, at least 30 working days before the person takes up the position. Second, key function holders come into scope: the chief financial officer and the heads of risk management, compliance and internal audit must meet suitability requirements at all times, and in large institutions the supervisor can prevent them from taking up the role.

Transposition is uneven. The European Commission's monitoring page, last updated in August 2026, listed 12 member states as having communicated full transposition, 7 partial and 8 none, including Belgium, the Netherlands and Spain. The EBA and ESMA consulted in 2026 on revised joint guidelines on suitability, expected to apply no later than the end of 2026. The practical rule for any search in 2026 is to confirm the national rules before setting the start date.

Banking shares individual vetting with every sector where regulators vet individuals, but it is the only one of them where a gender target sits in the same rulebook.

The gap is in the executive pipeline

The European Banking Authority's April 2026 benchmarking report, covering 704 credit institutions and 163 investment firms at the end of 2024, shows where the shortfall sits. Women hold 32.48% of non-executive positions, up from 27.75% in 2021. In executive functions the figure is 21.78%. Women hold 13.51% of chairs and 12.37% of CEO positions, and 45.87% of institutions have no women executive directors at all. Investment firms lag credit institutions on representation, on diversity policies and on gender targets.

The hiring consequence is that the non-executive layer has moved, with quota laws and the CRD target both pushing on it, while the executive layer that feeds future CEOs and chairs has not. The roles that matter most are the ones CRD VI has just brought into scope: CFO, chief risk officer, head of compliance and head of internal audit. They are both the next generation of executive directors and, from 2026, roles that need their own suitability file.

Pay transparency adds a reporting test

The EBA reports that male executive directors receive 9.82% higher remuneration than their female counterparts, on a median basis and excluding the CEO. Under Directive (EU) 2023/970 on pay transparency, an employer whose reported gender pay gap in any category of workers reaches 5% and cannot be justified by objective, gender-neutral criteria must carry out a joint pay assessment with worker representatives. First reports are due in June 2027.

How Female Executive Search helps

Target-aware longlists. We start from the gender target and diversity policy you have published, so the search is built around the gap you have committed to close.
Suitability-ready candidates. We review each candidate's career history against the knowledge, skills and experience the role requires, and provide the documented history your compliance team needs for the fit and proper file. Your institution and its supervisor make the assessment.
Timeline built around the supervisor. For large institutions we plan to the 30 working day pre-notification window under CRD VI, and to the national approval route that applies where your supervisor assesses before appointment.
Key function searches. We search for CFOs, chief risk officers, heads of compliance and heads of internal audit, the roles CRD VI has brought into the suitability regime and the pipeline for future executive directors.
Cross-border reach. We draw on the CEO Worldwide network of over 28,000 vetted executives across 183 countries, including more than 5,000 vetted women executives. Where the qualifying population in one national market is small, a suitability assessment does not care which member state the experience was gained in, provided it is documented and relevant.
Shortlist in 7–10 days, transparent fee. A shortlist of qualified, interested candidates within 7 to 10 days of engagement — which leaves room inside the CRD VI pre-notification window. Our fee is 25% of gross annual salary, paid in three milestone-based instalments, and every placement carries a six-month replacement guarantee.

You may not be able to name your institution yet. A search for a new CEO, CFO or chief risk officer tells the market, your staff and your supervisor that the leadership of the institution is about to change. For a listed bank, a planned change at the top can amount to inside information under the Market Abuse Regulation, and an early leak is a disclosure problem as well as a reputational one. Our executive job posting service exists for exactly this: the role is published to our pool of vetted female executives without your institution's name attached, and your identity is disclosed to a candidate only at the point you decide to take her to interview. It is a lighter commitment than a retained mandate and a faster way to test the market, and our note on when to post a role anonymously and when to run a search sets out which of the two fits which situation.

Frequently Asked Questions

Is there a gender quota for bank boards in the EU?

There is no banking-specific quota, but there is a banking-specific target requirement. Under Article 88(2) of the Capital Requirements Directive, the nomination committee of an institution must decide on a target for the representation of the under-represented gender in the management body and prepare a policy on how to meet it, and the target and policy must be disclosed. Listed banks are also covered by Directive (EU) 2022/2381 on women on boards, which sets a 40% objective for non-executive director posts or 33% for all director posts, and by any national quota law that applies to them.

What is a fit and proper assessment?

It is the supervisor's assessment of whether a member of a bank's management body is of sufficiently good repute and has sufficient knowledge, skills and experience to perform the role. For significant institutions in the euro area it is carried out by the European Central Bank, and for other institutions by the national supervisor. Some member states require approval before the person takes office; others assess after appointment. The assessment concerns the individual's record, so a candidate's career history has to be documented before the application is made.

What does CRD VI change for executive appointments?

Directive (EU) 2024/1619, known as CRD VI, applies from 11 January 2026. In member states that assess after appointment, large institutions must now submit the suitability application for new members of the management body in its management function, and for the chair of the supervisory function, at least 30 working days before the person takes up the position. It also brings key function holders into scope: the chief financial officer and the heads of risk management, compliance and internal audit must meet suitability requirements at all times. National transposition was still incomplete in August 2026, so the national rules should be confirmed for each appointment.

How many women hold senior roles in European banking?

According to the European Banking Authority's report published in April 2026, using data as at 31 December 2024 for 704 credit institutions and 163 investment firms, women hold 12.37% of CEO positions, 13.51% of chairs, 21.78% of executive director positions and 32.48% of non-executive positions. 45.87% of institutions have no women among their executive directors, and only 67.24% have a policy that includes gender representation targets.

Does the UK require regulatory approval for senior financial services appointments?

Yes. Under the Senior Managers and Certification Regime, people performing senior management functions at banks, insurers and other regulated firms must be approved by the Prudential Regulation Authority or the Financial Conduct Authority before they take up the role. The regulators currently have a three-month statutory deadline to decide an application. In April 2026 the FCA and PRA confirmed a first phase of reforms, and the Government has proposed reducing the deadline to two months.

Do insurers face the same requirements as banks?

Insurers are covered by a parallel regime. Article 42 of the Solvency II Directive requires all persons who effectively run an insurance or reinsurance undertaking, or hold other key functions, to be fit and proper at all times, and the undertaking must notify the supervisor of any change in those persons together with the information needed to assess them. The CRD gender target requirement applies to banks and investment firms, not to insurers, although listed insurers are covered by the women on boards rules.

When do pay transparency rules start to affect financial services employers?

Directive (EU) 2023/970 requires the first employer gender pay gap reports in June 2027. Where the gap in any category of workers reaches 5% and cannot be justified by objective, gender-neutral criteria, the employer must carry out a joint pay assessment with worker representatives. The European Banking Authority reports that male executive directors at EU banks and investment firms receive 9.82% higher remuneration than women, on a median basis and excluding the CEO; this guide to publishing the pay range covers the recruitment side.

Can we search for a financial services executive without naming our institution?

Yes. Every role published through our executive job posting service is anonymous by default: candidates see the role, the sector, the scope and the location, but not your institution's name. Your identity is disclosed only when you decide to advance a candidate to interview. This matters where the search itself would signal a change, such as a CEO or CFO succession at a listed bank, where a planned change at the top can amount to inside information under the Market Abuse Regulation. The anonymity applies to the market, not to your supervisor: the fit and proper application is made in the usual way once you have chosen your candidate.

How does Female Executive Search work with banks, investment firms and insurers?

We start from the gender target and diversity policy the institution has published, review each candidate's career history against the knowledge, skills and experience the role requires, and supply the documented history your compliance team needs for the fit and proper file. For large institutions we plan to the CRD VI 30 working day pre-notification window, and we search for key function roles such as CFO, chief risk officer, head of compliance and head of internal audit. We work on a milestone-based fee and back every placement with a six-month replacement guarantee.

Sources: European Banking Authority, Report on the benchmarking of diversity practices and the gender pay gap (published 23 April 2026, data as at 31 December 2024); Directive 2013/36/EU (Capital Requirements Directive), Articles 88 and 91; Directive (EU) 2024/1619 (CRD VI); European Commission, CRD VI transposition monitoring (updated August 2026); EBA and ESMA, consultation on revised joint Guidelines on the assessment of suitability (EBA/CP/2026/03, February 2026); Directive (EU) 2022/2381 on improving the gender balance among directors of listed companies; Directive (EU) 2023/970 on pay transparency; Directive 2009/138/EC (Solvency II), Article 42; Bank of England, PRA and FCA statement on Senior Managers and Certification Regime reforms (22 April 2026). Last verified October 2026.