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August 9, 2019

Tech knowledge gap among financial services FTSE100 CEOs

With widespread disruption from new and emerging technologies facing companies, the financial services sector is still lacking in CEOs with a background in technology, according to analysis by recruitment firm, Robert Half UK. 

None of the CEOs leading the FTSE100’s financial services companies has a background in technology. In contrast, the proportion of CEOs with a background in technology across all sectors has increased by 27% over the past year, as the impact of digitisation is felt across multiple industries and sectors. 

The survey highlights the importance of traditional skillsets that dominate financial services, with 100% of CEOs in the sector possessing a financial background. This compares to 52% of CEOs across all sectors. Beyond this, a low proportion of CEOs have experience across multiple sectors; only 4% of CEOs have a background in marketing and advertising, while 9% have a retail and hospitality background.

The survey also revealed the need for greater diversity within financial services. Out of the current financial services companies in the FTSE 100, there are no female CEOs, and more than a third (35%) are Oxbridge educated, compared to one in five (18%) across all sectors.

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