Women occupy almost a third of top posts at Central Bank of Malta

10th January 2020

‘Small steps forward indeed but not insignificant,’ says Governor Mario Vella

A press release issued by the Central Bank of Malta on Thursday said that almost a third of its top posts are currently occupied by women.

“The Central Bank of Malta has made modest – but significant – progress when it comes to gender balance at the top levels of its executive structure, but Governor Mario Vella has stressed that there is considerably more to be done.”

In 2008, there were no female members of staff among the 31 employees in the top grades – comprising senior executives, heads and chief officers. Things started to change by 2013, at which point there were six out of 38 at the Central Bank’s top posts.

Presently, in January 2020, 12 out of 46 top positions are occupied by women.

“Small steps forward indeed but not insignificant: a clear sign of progress is shown by the fact that if we take the key role of heads, whereas there was only one female head in 2014, there are now six,” Dr Vella said during a recent speech.

The gender distribution of staff below the senior executive grade is predictably more equitable, with 50.7 per cent of all staff in these grades being women as at 2019, compared to 44.3 per cent in 2008.

At the most senior levels, no female has ever occupied the post of either Deputy Governor or Governor, although two of the four current Board directors are women.

The fact that the President of the European Central Bank - Christine Lagarde - is a woman was described by Dr Vella as being "hugely significant".

The Central Bank has a number of family-friendly measures in place, such as: reduced hours; child-friendly measures in the form of subsidies for care; flexitime; teleworking and pay equality.

*A previous version of this article erroneously described the Central Bank of Malta as a company. 

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Women occupy almost a third of top posts at Central Bank of Malta