Society: The door was always open, the mind was always shut.

Does society reflect the banking sector, or does the banking sector reflect society? Society has indeed changed in the past 50 years for women especially in Ireland. The marriage ban in the 50‘s is now gone, equality legislation is in place and society is more liberal than in the past. 

I interviewed Gay Liston, a former bank manager of AIB (1948-1990) on the 18th of February this year. Seeking her inside views about her experience of of women in banking. The interview was conducted via phone call. After initial discussion I asked her 

“Did you ever experience any gender inequality in the banking sector?” 

she responded with a strong

“absolutely”. 

Women in banks have not historically had the same opportunities as men, for a number of reasons diverging from deliberate male exclusion practices to the broken and often short term nature of many women’s work histories (Crompton, 1989)  Gay strengthened this argument by revealing woman in the same position as a man in the banking sector would always get paid less. 

She even experienced gender inequality from the customers, it would however have been from a very chauvinistic male client.

“Until the 70’s women were put on mainly operational jobs, no matter what skills they possessed”. 

As a manager she found it extremely aggravating seeing an average male being promoted over an intelligent woman. Although the door was always technically open to women, the mind was invariably shut. Stacey (1982) suggested that men could have been afraid of putting women in advisory roles as they were very important roles. This could reflect upon the fear of the unknown.

I asked her if the banking world suited a female’s lifestyle, initially she didn’t think too much into it, however she then recalled that often the meetings were held on a golf course, at a GAA match or even in a pub, all of which she said were only open to men. 

She concluded that there was a sense of some reform in the 80’s and hoped that it was a non-existent issue in society today. In 1980, the organisation Women in Banking was founded. The primary aim of the Group was to encourage more women to pursue a career in banking and provide a support network for those that had already begun. It is possible that through memetic isomorphism this organisation helped women in the Irish banking sector attain more opportunities. 

When we reflect back to those early days and the fact that there was a need to have a group such as Women in Banking, a group that still exists today;  we have to ask ourselves why it still exists in todays society and if it still fulfils the needs as envisaged by its founders.

Blog Introduction: Women in Banking

My blog is going to the address the topic of women in banking, it will focus on the commercial banking sector in Ireland. In doing so I would like to raise the question, is there a gender bias in the banking sector in both Ireland and abroad? In the banking sector there is a need for analysis and debate. It is a topic of much controversy, the aim of this blog is to determine whether this is a topic of substance or merely a stereotype that has reached its sell by date.

Lloyds TSB along with other commercial banks have addressed this issue by setting out a goal of gender quality in their bank by 2020. This recognises that there is a gap to fill, a bridge to build. It is a positive step in the right direction for the bank, but it does however imply that there are steps to take. Is this a generalisation of what all commercial banks should do, or is there a need for the others to do so?

The American Banker issued the top 25 women in banking, all proved to be extremely powerful and influential women in the banking sector. Further details on these women can be accessed here.

I will test the perception that there is a gender gap at managerial and executive levels in the banking sector in Ireland. To do this I will base my findings on discussions with two female bankers of at managerial levels and three female bankers at exectuive levels. Firstly, I will interview Gay Liston, a retired bank manager of AIB formally known as Munster and Leinster Bank, based in Cork from 1948 - 1990. The second general manager I will converse with will be Bridie Bourke who worked in Bank of Ireland (1970-2002). The executive level will be investigated through interviews with Margaret Sweeney, the former CEO of Post Bank, also the first female CEO in the banking sector in Ireland, Margaret Kavanagh an executive of AIB, and thirdly Carol Bolgers a former executive of Ulster Bank. These interviews will provide an inside view of what it takes to be a successful female in the banking sector and their opinion on gender inequality in the industry. 

Attracting and retaining the right people are critical elements to the success of any organisation (Yadav & Dabhade, 2014). It can be assumed that the more diverse range of employees in a bank or any other organisation gives a higher chance of optimisation for that bank or organisation. It can also lead to the development of questions. If there had been more women in the banking sector, could the financial crisis have been controlled better in Ireland or abroad? It will raise questions that may never obtain an accurate answer but ones that should be addressed to potentially prevent and control such events from reoccurring.