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Diversity at the European
Central Bank
ISWE Conference: Diversity, Economics
and Society
Philip R. Lane
Member of the Executive BoardDublin, 4 September 2026 0
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Outline
1 ECB overview
2 The gender promotion gap: evidence from central banking 1
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Diversity and inclusion (D&I) at the ECB 2
PUBLIC STATEMENT, SINCE 2010
“Diversity is a key contributor to our success. As a European Union institution, the ECB aspires to be an organisation in
which diversity is welcomed and appreciated in all its facets for the richness that it offers.”
The facets of diversity include, but are not limited to:
Gender Nationality Religion Ethnic origin Age Cultural
background
Sexual
orientation Disability
Gender is the diversity facet we measure and target most closely, as it cuts
across a broad cross-section of the society we serve. At the same time, our
approach remains all -encompassing, embracing multiple dimensions of
diversity, intersectionality, respect and belonging.
“We should mirror the society we serve.”
- ECB President Christine Lagarde, May 2020
Sources: ECB public statement on diversity; Lagarde quote: ECB press release, 14 May 2020. Last accessed: 27 August 2026.
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D&I at the ECB: key milestones 3
2010 2013-16 2017-18 2019 2020-22 2023-26
Public statement
ECB makes a public
commitment to diversity
First gender strategy
Targets for management
by 2019
First D&I networks
D&I in the business
D&I enters the ECB
business strategy
First D&I ambassadors
Executive sponsors
Evidence-based
approach
First EDGE certification,
Level 1 (Assess)
First D&I survey
ECB research on the
gender promotion gap
Second gender
strategy
Targets up to 2026
ESCB & SSM Equality,
diversity and inclusion
charter
First ECB Scholarship for
Women
D&I strategic intent
Implementation and
thematic focus
Gender Strategy Action Plan
Gender scorecards,
dashboards and KPIs
Second EDGE certification,
Level 2 (Move)
D&I in practice:
Women in Leadership training
Gender Talks series
Diversity months: ethnicity,
disability
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Where we stand: progress by salary band cluster since 2010 4
The share of women has risen in every salary band cluster since 2010, with the strongest gain in senior management.
Strongest gain in senior management
The largest rise since 2010 has been in
senior management: +32 pp
Critical mass reached
A critical mass of 33% has been reached
in every salary band cluster
Focus
On the internal talent pipeline for the
bands leading up to managerial and team
lead roles
Sources: internal ECB data, not published; shares by salary band cluster refer to permanent staff, staff with fixed-term contracts and Graduate Programme participants.
52.6%
38.8%
22.1%
14.4%
9.8%
51.9%
42.2%
32.7% 30.1% 31.2%
53.5%
43.7%
36.8% 34.1%
41.8%
0%
10%
20%
30%
40%
50%
60%
Analysts (E/F) Experts (F/G-G) (Team) leads (H) All management (I-L) Senior management (K-L)
End-2010 End-2019 Aug-26
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Measures supporting the D&I strategy 5
ATTRACTING TALENT
Targeted outreach (e.g. career
fairs)
ECB Scholarship for Women
Programme
Inclusive language in job
advertisements
RECRUITING DEVELOPING CAREERS WORKING ARRANGEMENTS
ACCOUNTABILITY
Gender scorecards, dashboards and key performance indicators
(KPIs) to enhance transparency, access to data and
accountability for Human Resources (HR), managers and
decision-makers
Our process is based on equality and merit. The measures widen access to that process.
Flexible working hours
Part-time
Teleworking and childcare
support
Comprehensive leave policy
(parental leave for co-parents,
special leave for parents and
carers)
ADDITIONAL MEASURES
• Mandatory D&I t raining for newcomers
• Enhancing building accessibility
• E- learning on disability confidence
• Diversity Month in May (2024: Race and Ethnicity, 2025: Disability
confidence)
• Gender Talk Series
• Think Again Campaign
• Inclusion Programme
Bias-aware recruitment,
supported by unconscious bias
training
Campaigns extended where
women are under a third of
applicants
Equal merit clause
ECB Mentoring Programme
Inclusive leadership training
Women in Leadership training
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Who drives our D&I work 6
D&I is mandated by the Executive Board and executed by HR, but delivered across the organisation and beyond.
INSIDE THE ECB
Executive D&I sponsors
D&I team in HR
65 D&I ambassadors
D&I Forum
Six employee-led networks and staff representatives
Business areas across the ECB
Communications, Administration, Banking Supervision, Procurement
BEYOND THE ECB
Human Resources Committee
Heads of HR of all national central banks and national competent
authorities
ESCB and SSM D&I Network
G7 Central Bank Diversity and Inclusion Heads of
HR and EDI Annual Conference
Conference on Diversity, Equity and Inclusion in
Economics, Finance and Central Banking
Other cross-institutional exchanges
Annual Meeting in Lisbon, September 2026
Rome, March 2027
Paris, October 2026
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In focus: D&I networks and ambassadors 7
D&I NETWORKS
Women Organise
Women DiversAbility Ethnic and Cultural
Group Rainbow Parents
Self-organised and voluntary employee-led
Quarterly meetings with HR in a dedicated D&I forum, ad hoc sessions
on specific topics
Joint communications, articles and events with internal and external
speakers (e.g. in European Diversity Month)
Marked throughout the year [a selection]
International Women's Day, IDAHOBIT, the International Day for the
Elimination of Racial Discrimination, European Diversity Month,
Christopher Street Day and International Day of Commemoration in
memory of the victims of the Holocaust
D&I AMBASSADORS
Women in Leadership
Appointed by their manager and given a formal mandate
65 leaders and experts, two per business area
Quarterly meetings with HR in a dedicated D&I ambassador meeting,
and ad hoc sessions on specific topics
Data-driven D&I deep dives into their business area
Business area initiatives [a selection]
IT Bootcamp for Girls
Series of workshops on D&I in European banking supervision
“Woman in Audit” and “Men in Audit” series of meetings
Mentoring scheme for female economists
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Collaboration across the Eurosystem 8
SIGNED 2022
ESCB & SSM Equality, diversity and
inclusion charter
A voluntary joint commitment to
diversity and inclusion at system
level
Fifth anniversary in 2027
Implementation rests with each
signatory institution, supported by
the ESCB and SSM D&I Network
and by regular exchanges across
the system 29
signatories in total 26
national central banks 2
national competent
authorities
Core commitments:
• Prevent discrimination and ensure equal opportunities for all
employees and candidates.
• Build an inclusive, respectful workplace culture where everyone
can contribute and belong.
• Attract, develop and promote diverse talent across the
organisation.
• Raise awareness, provide training and encourage personal
accountability for equality, diversity and inclusion principles.
• Collaborate, share best practices and promote equality, diversity
and inclusion internally, externally and in society.
Sources: ESCB & SSM D&I Charter (2022); ECB Annual Report 2025.
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Outline
1 ECB overview
2 The gender promotion gap: evidence from central banking 9
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Published research by ECB and Banco de España staff 10
Hospido, L., Laeven, L. and Lamo, A. (2022), “The Gender Promotion Gap: Evidence from
Central Banking”, The Review of Economics and Statistics, Vol. 104(5), pp. 981-996.
1,082
staff in the sample
85,282
monthly observations 62
promotion campaigns 794
promotion applications
Comprehensive analysis of career progression across various
job levels within an organisation
Broadly similar entry characteristics among men and women:
most join straight from graduate school
Simultaneously consider the role of promotion applications
and decisions
A wage gap emerges between men and women despite
broadly similar entry conditions. Why?
Are women less likely to be promoted, and what explains the
promotion gap?
Did the ECB's change in diversity policy in 2010 affect
promotion outcomes?
Study design Key questions
Note: Data cover 2003 to 2017; campaign data, 2012 to 2017.
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Gender wage gap: raw salary profiles
Notes: Left panel: Average step levels by gender since entry at Expert level for all the employees in our sample. Right panel: Average step levels by gender since entry at Expert level
for those employees who remain at Expert level.
Source: Hospido, Laeven and Lamo (2022).
Wages since entry at Expert level (2003-2017)
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Unconditional probability of promotion
Note: Average annual probability of promotion (moving from Expert level to Principal expert or Adviser levels) by gender since entr y at Expert level for all the employees in our sample.
Source: Hospido, Laura, Luc Laeven, and Ana Lamo (2022).
Probability of promotion at Expert level, % (2003-2017)
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Difference in promotion probability between men and women
Note: Gender gap in the average annual probability of promotion (moving from Expert level to Principal expert or Adviser levels) si nce entry at Expert level before 2011 and from 2011
onwards.
Source: Hospido, Laeven and Lamo (2022).
Gender gap in promotion probability before and after 2011
(percentage)
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From evidence to action 14
The promotion gap closed after 2011
Before 2011, women were less likely to be promoted than men. Since the public statement on diversity made by the ECB in 2010, the
promotion gap is no longer statistically significant and, from 2011 onwards, women and men have a similar likelihood of beingpromoted.
Public diversity statement, 2010
Caregiving weighs on the decision to apply
Both having children and taking unpaid parental leave reduce the
likelihood of applying for promotion.
MEASURES
Flexible working hours, part-time, teleworking and childcare support
Comprehensive leave policy (paid maternity and parental leave,
leave for co-parents, special leave for parents and carers)
WHAT PERSISTS
Women apply less often
Women are less likely to apply for promotion, particularly when
competing against external candidates, more experienced
colleagues and primarily male candidates.
Targeted outreach, inclusive language in job advertisements,
extension of campaigns where women are under a third of applicants
The Women in Leadership Programme, the Inclusive Leadership
Programme, the Scholarship for Women Programme, ECB
Mentoring Programme
Source: Hospido, Laeven and Lamo (2022). Data cover 2003 to 2017, campaign data 2012 to 2017.
Expectations shift
ECB commitment to D&I as an equilibrium-
selection or coordination device
Promotion gap closes
From 2011 onwards
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References
Research referenced:
• Hospido, L., Laeven, L. and Lamo, A. (2022), “The Gender Promotion Gap: Evidence from Central Banking”, The Review of Economics and
Statistics, Vol. 104(5), pp. 981-996.
Conferences referenced:
• G7 Central Bank Diversity and Inclusion Heads of HR and EDI Annual Conference, Ottawa, October 2025
Organised by the G7 central banks, hosted each year by the holder of the G7 Presidency
• Conference on Diversity, Equity and Inclusion in Economics, Finance and Central Banking, Paris, November 2025
Organised by the Bank of Canada, Bank of England, Banco de España, Banque de France, Banca d'Italia and the ECB
Upcoming events as dated on slide “Who drives this work”; links show the most recent events held 15