Somen women bankers rise in credit crunch

Birna Einarsdottir

Some highly qualified women are taking the lead in the credit crunch. Elin Sigfusdottir and Birna Einarsdottir are set to become chief executives of the Icelandic now nationalised banks New Landsbanki and New Glitner. According to the FT, goverment officials said “it was a signal of a new culture” and “typical that women clean up after men make a mess..”. In the UK it is Baroness Shriti Vadera to have the key responsibility as Minister of Business Enterprise and Regulatory Reform of overseeing the government new bank stakes.

With women executives moving in, it is hoped that banks will increase their focus on women entrepreneurs. At HBOS in the UK, a special division is set up to increase the financial backing of these entrepreneurs. It is aware that only 3% of VC is taken up by women. Therefor, among others it supports the Venture Capital Women’s Breakfast and has invested in the Women’s fund Trapezia II.

Also, Citibank has created a specific division for women: Women & Co. Studies are undertaken and seminars planned.