Women’s representation in Luxembourg finance rises gradually, WiF Charter report shows

Women now represent roughly one third of senior leadership roles among organisations participating in Luxembourg’s Women in Finance (WiF) Charter, according to the 2025 WiF Charter Progress Report. The report highlights gradual progress across the sector, while noting that gender balance at the most senior levels remains a challenge.

Based on data collected from 85 signatory organisations employing nearly 31,000 people – around 42% of Luxembourg’s financial sector workforce – women account for 47.1% of the total workforce across participating firms. However, leadership representation remains uneven.

At executive level, women’s representation in ExCo and C-suite roles increased from 29.9% in 2024 to 32.4% in 2025, reflecting incremental progress in senior leadership pipelines. Representation in senior management rose slightly to 31.1%, while middle and junior management reached 39.6%.

However, the report also highlights setbacks. Women’s representation on boards declined from 29.8% to 28.5%, moving further away from the average target of 34.4% set by signatory institutions. Overall, men remain roughly twice as likely as women to hold top leadership positions within participating firms.

Beyond representation, structural patterns persist across the workforce. More than seven in ten part-time roles are held by women, reflecting broader labour-market dynamics that can influence career progression and leadership pathways.

At the same time, organisations are increasingly implementing initiatives to support gender balance. According to the report, signatories are introducing measures such as flexible working policies, gender pay gap monitoring, mentorship programmes, leadership development initiatives and more inclusive recruitment practices.

Overall, the report suggests that Luxembourg’s financial sector is making steady but gradual progress. While commitments and targets are expanding across the industry, the next challenge will be translating these initiatives into stronger representation of women at the very top of financial institutions.

The full report can be found here.