In Thailand, Women rule finance because men think banking is boring

As one of four presidents at Thailand’s biggest lender, Kasikornbank Pcl, Kattiya Indaravijaya often conducts interviews for senior positions. The job candidates are impressive. And almost always, they’re women.

"I’m wondering, there’s no guy?" Kattiya, 51, said in an interview in her office along the Chao Phraya River in Bangkok.

"It’s not that they didn’t pass the screening process, they didn’t apply. Perhaps women’s interest is in banking and finance. Perhaps guys have a different passion."

In Thailand, where years of educational equality have combined with a profession that rewards math skills and merit, women comprise 31 percent of board and executive committee members in financial services -- some way short of parity but the highest proportion in the world after Norway and Sweden, according to a study last year by consulting firm Oliver Wyman.

In the U.S., the representation of women in similar positions is 20 percent. Japan is at the bottom of the list, with 2 percent.

"Men probably look for more exciting and challenging jobs than the financial industry, where work requires more patience, detail, caution and rule compliance," said Voravan Tarapoom, president of the Association of Investment Management Companies, a mutual funds trade group, and also chairman of BBL Asset Management Co.

"They may feel financial industry work is so boring."

Source: Bloomberg