Bank CEOs who don't hire more women face pay cuts

Finance bosses have agreed to hire more female executives -- or face cuts to their pay.

The U.K. biggest banks and insurers -- as well as some leading U.S. banks and investment firms -- have signed up to a British government initiative designed to bring more women into top positions.

Among other commitments, they agreed to link the bonuses of their senior executive teams to the appointment of women to leadership positions.

The companies include big U.K. banks like Barclays (BCLYF) and HSBC (HSBC), as well as Deutsche Bank (DB), Morgan Stanley (MS) and BlackRock (BLK).

Together, the 72 firms employ over 500,000 people across the U.K.

Around 60% of the financial services industry's 2 million employees are women. But they occupy only 25% of middle management positions and 19% of senior level positions.

To me, this sounds like the men and women gender equality... CNN seems to have more to say on this ...see more here

Source: CNN