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Female Bankers in India Earn Chances to Rule
The New York Times ^ | 27.1.2010 | HEATHER TIMMONS

Posted on 02/17/2010 1:01:53 AM PST by cold start

MUMBAI — In New York and London, women remain scarce among top bankers despite decades of struggle to climb the corporate ladder. But in India’s relatively young financial industry, women not only are some of the top deal makers, they are often running the show.

HSBC, JPMorgan Chase, Royal Bank of Scotland, UBS and Fidelity International in India are run by women. So is the country’s second-biggest bank, Icici Bank, and its third-largest, Axis Bank. Women head investment banking operations at Kotak Mahindra and JPMorgan Chase and the equities division of Icici. Half of the deputy governors at the Reserve Bank of India are women.

In a country where parents in some areas still prize boys over girls; where overall female literacy rates are poor; and Sania Mirza, a top tennis player, said this month that she would quit playing after marriage, the banking industry’s wealth of women in management may seem surprising. But women in the industry, many of whom have also worked in London and New York, say India provided the right combination of supportive, mostly male, managers and a diverse work environment that did not require them to be “one of the boys” to succeed.

This “isn’t a golf-playing, beer-drinking homogeneous culture,” said Naina Lal Kidwai, group managing director and country head of HSBC in India and a former head of Morgan Stanley’s investment bank in India. Male bankers and managers run the gamut from devoutly religious to devoted family men to late-night socialites.

Women “could join the workplace on their own terms,” Ms. Kidwai said. “You still have to network, you still have to work hard, but that made it easier.”

That means India is without an old Wall Street staple: Women who feel they must act like the stereotypical male banker to advance................

(Excerpt) Read more at nytimes.com ...


TOPICS: News/Current Events
KEYWORDS: bankers; india

1 posted on 02/17/2010 1:01:53 AM PST by cold start
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To: cold start

I think that culture may have something to do with it. Women in India, I believe, handle the family finances.


2 posted on 02/17/2010 1:04:17 AM PST by SatinDoll (NO Foreign Nationals as our President!!)
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To: SatinDoll

You’re probably right. Speaking of Indian culture and Indian women, who handles the suttee these days?


3 posted on 02/17/2010 3:53:41 AM PST by Spike Knotts
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To: Spike Knotts
Same ones who handled the Witch Trials and subsequent burnings, I guess:


4 posted on 02/17/2010 6:52:38 AM PST by James C. Bennett
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