LinkedIn data offers unique insights into gender differences across financial subsectors. Women account for 41.2% of the workforce in financial institutions engaged in financial facilitation in the capital markets, among the 19 economies with available data. Although this group represents a small employment share in the finance industry, comprising securities, commodity-related and other financial investment activities, it plays a disproportionately influential role in shaping investment flows and capital allocation. Women’s representation is slightly higher, at 43.6%, in the credit intermediation group. The highest representation of women, at 49.0%, is found in the insurance subindustry, which includes insurance carriers and related activities (Figure 5).The representation of women declines with seniority across all subindustry groups. Top- level management positions show the lowest female representation in the insurance group, where only 28.7% of senior leaders are women. The leadership gap is most pronounced in this segment, with a 20-percentage-point difference between women’s overall workforce share and their presence in top roles, reflecting the large number of women employed in clerical or support positions and the relatively high proportion of non-decision-making roles within such institutions. In contrast, women represent 32.8% of top-level management positions in the capital markets group and 36.5% in credit intermediation, corresponding to leadership gaps of 8 and 7 percentage points, respectively (Figure 5) . Because private equity and venture capital play an outsized role in innovation, job creation and long-term growth, the gender dynamics within these investment firms are of particular interest.2.2 Women in private capital: Private equity and venture capital Percentage of women in financial services, capital markets, private equity and venture capital firms, by seniority level (values as of September 2025)FIGURE 6 0% 10% 20% 30% 40% 50%46.6% Capital markets PE/VC Individual contributors Mid-level management Top-level management42.8% 42.2%35.2% 35.1%30.6% 19.9%27.2%37.9%Financial services Note: Average percentage for 11 economies: Australia, Brazil, Canada, France, Germany, India, Italy, Singapore, Spain, United Kingdom and United States. Including observations up to September 2025. Industry classification is aligned with the North American Industry Classification System (NAICS). Funds and Trusts subindustry group as well as monetary authorities are excluded from the figure due to limited sample size. Source: LinkedIn Economic Graph Research Institute Transforming Capital for the Next Era: Gender Parity and the Expansion of the Investable Frontier 10

Transforming Capital for the Next Era 2025