{"id":9763,"date":"2014-03-30T12:49:08","date_gmt":"2014-03-30T12:49:08","guid":{"rendered":"http:\/\/4cd.e16.myftpupload.com\/?p=9763"},"modified":"2014-03-30T12:49:08","modified_gmt":"2014-03-30T12:49:08","slug":"women-leadership-couldve-averted-global-financial-crisis-imf-chief","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/2014\/03\/women-leadership-couldve-averted-global-financial-crisis-imf-chief\/","title":{"rendered":"Women leadership could’ve averted global financial crisis – IMF Chief"},"content":{"rendered":"
\"IMF<\/a>
IMF chief, Christine LaGarde<\/figcaption><\/figure>\n

The head of the International Monetary Fund (IMF) has claimed the global financial crisis may never have happened had women been in charge of the world\u2019s biggest banks.<\/p>\n

Christine Lagarde said women have \u2018different ways of taking risks\u2019 and make fewer snap decisions than men.<\/p>\n

In a US radio interview yesterday, she added that women are still hugely under-represented in finance, including the IMF, where she is the only woman in the boardroom.<\/p>\n

\n

Asked if the crash could have been avoided if Lehman Brothers \u2013 the investment bank which collapsed in 2008 sparking the financial crisis \u2013 had been run by women, she said: \u2018I do believe women have different ways of taking risks\u2009…\u2009of ruminating a bit more before they jump to conclusions.<\/p>\n

\u2018I think that as a result, particularly on the trading floor\u2009…\u2009the approach would be different.\u2019<\/p>\n

Ms Lagarde also revealed how at the beginning of her career she was told by one of France\u2019s \u2018most reputable\u2019 firms that she would never be made a partner because of her gender.<\/p>\n

She was told by the unnamed firm that she would be taken on, but should not \u2018ever expect to make partnership\u2019.<\/p>\n

When told this was \u2018because you\u2019re a woman\u2019, she declined to take the job and found work elsewhere.<\/p>\n

Speaking to\u00a0NPR<\/a>, Ms LaGarde said that when she was a \u2018baby lawyer\u2019 applying for the best firms, one told her: \u2018We\u2019ll take you any time. You can join us tomorrow and be an associate, be given great tasks and great files and great clients to work on, but don\u2019t ever expect to make partnership.\u2019<\/p>\n

She also talked about the IMF executive board, which has 24 men representing 188 countries on it.<\/p>\n

Ms Lagarde said that she was interviewed by 24 men and no women for her role at the firm because the only female director \u2013 who is soon to leave IMF and be replaced by another man \u2013 was away.<\/p>\n

\u2018I can’t do anything about it except talk about it \u2014 and complain about it when I talk about it \u2014 because those people are actually appointed by the various countries around the world that comprise the membership of the IMF,\u2019 she said.<\/div>\n

\u2018And it’s very unfortunate because, not that these men are incompetent \u2014 they’re very competent \u2014 but diversity is a richness and we’re not having the benefit of that.\u2019<\/p>\n

Ms Lagarde was speaking shortly after the release of an IMF study which found that half the women in the world are not working, and that women are overexploited in work.<\/p>\n

Ms LaGarde was speaking shortly after the release of an IMF study which found that half the women in the world are not working, and that women are overexploited in work.<\/div>\n

In the interview, she also highlighted the fact that the number of women in IMF management has doubled in the last ten years \u2013 although, she said, it is still \u2018much too low\u2019.<\/p>\n

Ms Lagarde said it was her intention to help build the number of women in middle management or upper-middle management at the firm, adding: \u2018Where I perceive my role as making a difference is when I can encourage other women.<\/p>\n

\u2018If I’m the single voice constantly in a room full of men, it’s only going to carry the organization so far.\u2019<\/p>\n

 <\/p>\n

Source:\u00a0Daily Mail, UK<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The head of the International Monetary Fund (IMF) has claimed the global financial crisis may never have happened had women been in charge of the world\u2019s biggest banks. Christine Lagarde said women have \u2018different ways of taking risks\u2019 and make fewer snap decisions than men. In a US radio interview yesterday, she added that women […]<\/p>\n","protected":false},"author":5,"featured_media":9764,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[4],"yoast_head":"\nWomen leadership could've averted global financial crisis - IMF Chief - Citi 97.3 FM - Relevant Radio. 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