5 things to know today

    1. Research by the University of South Australia found the “persistent boys club mentality” on Australian boards is “impairing decision-making at the top”. Co-researcher, Professor Carol Tilt, says unconscious bias is a massive issue for Australian boards, as “board members’ lacking awareness of their own bias is perhaps the single most damaging factor for effective leadership.”
    2. Australian banks have a “tendency to go back to the past” when faced with a crisis, according to ANZ chief executive Shayne Elliot, speaking in response to gender diversity in leadership falling in 2020. Gender diversity in Westpac’s leadership team fell from 33% in 2017 to 21% in 2020. Meanwhile, gender diversity in CBA’s executive leadership team dropped from 46% in 2017 to 31% in 2020.
    3. The late Supreme Court Justice Ruth Bader Ginsburg will be the first woman to be buried at US Capitol Hill, which is reserved for US citizens who have “rendered distinguished service to the nation”. The honour has been given to 32 people, including 12 presidents.
    4. Commonwealth Bank (CBA) has launched a new app called “Bill Sense”, which predicts upcoming bills to help customers with budgeting and getting on top of their finances. The product responded to research that found “70% of the 1,035 millennials (24-39) surveyed struggle to prioritise their finances, mostly because thinking about money makes them anxious”.
    5. US multinational investment company Goldman Sachs has promoted three women into senior ranks this week. Christina Minnis will become the co-head of global credit finance, Akila Raman will become chief operating officer, and Miriam Wheeler will take up the role of head of the company’s US real estate financing group.


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