Women’s progress too slow: report

More than one-third of Financial Post 500 firms don’t have even one female corporate officer
By Shannon Klie
|Canadian HR Reporter|Last Updated: 05/04/2007

Since initiating its Advancement of Women strategy in 2003, Scotiabank’s profits have increased significantly. The representation of women in the most senior roles rose from 26.7 per cent in 2003 to 36.8 per cent in 2006 and the bank’s return on equity jumped from 16.6 per cent to 22.1 per cent, said Sylvia Chrominska, executive vice-president of HR at the Toronto-based bank.

While Chrominska can’t say for certain that having more women in executive positions directly caused the bank’s profits to increase, the fact both things happened simultaneously indicates there’s a connection.

This connection is supported by research conducted by Catalyst, a New York City-based research and advisory organization that advocates for women. A 2004 study,