- €50,000 funding will support continued research and data gathering
- Over 72,000 employees in financial and insurance sector now represented in the Charter through 104 signatories
- Women now account for 43.4% of senior management amongst signatory firms, compared to 36.2% when firms signed up
Minister of State with responsibility for Financial Services, Credit Unions, and Insurance, Robert Troy, T.D. has today announced direct Government support for Ireland’s Women in Finance Charter through the funding of the data partner.
Ireland’s Women in Finance Charter seeks to improve female representation in financial services firms operating in Ireland. Originating under the Ireland for Finance strategy in 2022, the initiative is led by industry and supported by government. The lead organisations are: Banking & Payments Federation Ireland, Financial Services Ireland (part of Ibec), Insurance Ireland, and Irish Funds, with active participation from the Department of Finance and the Department of Enterprise, Tourism and Employment, and Enterprise Ireland.
Initially established for a three-year pilot period from 2022 to 2025, the Charter has built significant momentum. Signatories now number 104 companies, representing over half of all employees in the financial and insurance sector in Ireland.
According to the Charter’s most recent annual report, female representation at senior levels of signatory firms has improved since its inception:
- At Board level, where average female representation is 36.3% (30.3% when firms signed up)
- At Senior management (43.4%, compared to 36.2% when firms signed up)
- At CEO level (22.6%, compared to 19.4% when firms signed up)
Government funding for the data partner with the budget of up to €50,000 (inclusive of VAT) will help maintain this progress, alongside the continued leadership and contribution of industry partners to drive positive change and showcase best practice. This support is in line with Programme for Government commitments to promote gender diversity and inclusion within the financial services sector and across the public sector.
For the initial three-year pilot period the ESRI has been the data partner and centrally involved in the production of the Annual Report. As Government is now financially supporting the analytical work, a procurement process is being undertaken to secure a data partner for the coming period.
Minister Troy said:
“The financial services sector is a significant employer within the Irish economy and it is only right that female participation at all levels is adequately reflected. The Women in Finance Charter has delivered significant progress in this regard over its initial three year existence. The results are clear, with a marked change at female participation at senior levels. This includes an increase of 6% representation at board level and a 7% increase at senior management level. The collection of the industry data and its presentation in an “easy-to-read” format by the Data Partner provides accountability and transparency on progress. Government is proud to support this impactful activity. This is why we are now launching a procurement process for a data partner for the coming year to ensure that this Industry led but Government supported initiative continues to thrive.”
Chair of the Women in Finance Charter Steering Group and CEO of Wells Fargo Bank International Fiona Gallagher said:
“As a voluntary and industry led initiative, the Charter represents the strong commitment from across the financial and insurance sector to a stronger, more inclusive workforce.”
BPFI, Chief Executive, Brian Hayes said:
“The Women in Finance Charter is driving real progress towards a more inclusive financial services sector. By empowering and advancing female talent, firms are enriching leadership pipelines, improving decision-making, and driving long-term business performance. Its success shows what can be achieved when industry and government work together with a shared purpose. As part of this, BPFI is proud to champion the Charter and encourage every organisation in financial services to join us in building an inclusive sector that truly reflects the society we serve.”
Financial Services Ireland (FSI) Director, Patricia Callan said:
“Ireland’s emergence as a global financial centre has dovetailed with the country developing as an inclusive and diverse place to build a career. Initiatives like Ireland’s Women in Finance Charter have played an important role in that progress and we at Financial Services Ireland are proud to be a founding partner. We welcome Government’s continued support for the Charter and FSI remain committed to building a more diverse financial services industry in Ireland, which we will discuss in our upcoming FSI Masterclass in Gender Balance event in January.”
Insurance Ireland, CEO, Moyagh Murdock said:
“Insurance Ireland has represented the Charter in engagements with international partners, and through these strong links we know that Ireland holds a positive position in terms of what has been accomplished to date. Government support paired with the industry drive will ensure this continues.”
Irish Funds Chair, Pat Lardner said:
“With half of all employees in the financial and insurance sector now represented through our signatory companies, industry engagement with the Charter sends a clear signal to their workforce. Membership of the Charter is an accessible and powerful demonstration of their commitment to greater gender balance.”
Recognising the impact that that the Charter has made, Minister Troy also called on the international financial services sector to consider additional inclusion measures so as to ensure that the sector is fully representative of society. Over the course of 2026, Minister Troy and Department of Finance officials will work with stakeholders to capture current inclusivity activity, including best practice, and identify key gaps for further attention by the sector. Doing so, will complement wider government activity like the newly established Disability Unit within the Taoiseach’s department.
The lead organisations are: Banking & Payments Federation Ireland, Financial Services Ireland (part of Ibec), Insurance Ireland, and Irish Funds, with active participation from the Department of Finance, the Department of Enterprise, Tourism and Employment, Balance for Better Business, Enterprise Ireland and experts in the area including the 30% Club, 100 Women in Finance and 100 Women in Finance Early Career. An independent data partner, the Economic Social and Research Institute, (ESRI) was funded by industry for 2022-2025 to collect and report on data to ensure independent, credible analysis on an annual basis. A Steering Group has been established for ongoing governance of the Charter. Its core membership is drawn from the main finance industry associations and organisations working to support the advancement of women in firms, and they are supported by the public sector.
A public procurement process is underway to identify a data partner for the 2026 period.
- Ireland's Women in Finance Charter, Annual Report 2025 is available at this link.
