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Despite significant progress, key areas still require attention, particularly equipping women with future-ready skills, supporting mid-career professionals, and strengthening male allyship.
Women in Hong Kong’s financial sector are making strides in breaking the glass ceiling, with 45% now holding senior leadership positions and 37% serving as board directors, marking double-digit increases since 2018.
These findings came from a joint report by the Women Chief Executives Hong Kong (WCE HK), KPMG, and The Women’s Foundation (TWF).
Titled Tipping the Scale – Hong Kong’s Leading Role in Advancing Gender Leadership Opportunities in Financial Services, the report surveyed over 530 financial services professionals. Among female respondents with international experiences, Hong Kong ranked first among global financial centres for visible societal acceptance of women in leadership, citing strong societal infrastructure as a key enabler for career continuity.
Key highlights:
- 70% of women felt encouraged to lead, while only 15% reported gender bias from male colleagues.
- 76% cited Hong Kong’s safety as a key factor supporting career progression, which is a foundation for the psychological safety needed to speak up, take risks, and lead.
Policy and organisational momentum is accelerating change
The report noted that the Hong Kong Exchanges and Clearing Limited (HKEX) diversity framework has been a major catalyst, mandating elimination of single-gender boards by 2025 and annual gender reporting at senior leadership and workforce levels. These reforms position Hong Kong as a strong contender in gender disclosure and board diversity.
Internally, companies are also driving change:
- 76% of women saw visible female leadership as the most influential workplace enabler for career progression.
- 72% agreed that female role models in leadership are becoming increasingly common.
Future-proofing women to close the gap
Despite progress, the report flagged several important areas for continued advancement.
Emerging technologies, such as artificial intelligence (AI), machine learning, advanced data analytics, and virtual assets, are reshaping the financial services industry globally. Women must be well equipped and encouraged to participate in these fields to sustain leadership momentum.
Another key challenge is supporting returnees and mid-career women. A pronounced mid-career dip persists:
- 77% of entry-level women in Hong Kong’s financial services industry felt supported to pursue leadership opportunities.
- Just two-thirds felt so at the senior level (68%).
- Only 59% of mid-career women felt similarly encouraged to take on leadership roles.
To support them better, solutions could include:
- Normalising and championing flexibility for caregivers of all genders.
- Regularly evaluating leave policies such as parental and carer’s leave, as well as supplemental support services like mental health support, to ensure they meet the diverse needs of employees.
- Implementing structured re-entry programmes for career returnees.
Male allyship to empower female leadership
Male allyship remains critical. Focus groups revealed men often perceive gender diversity is “solved” due to the current high visibility of female promotions. Effective allyship requires intentional culture shifts that move beyond symbolic gestures, such as:
- Creating safe spaces for open dialogue on gender issues.
- Supporting men being active parents and caregivers.
- Enabling women to advance in their careers without gender stigma.
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