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Barclays Launches Women in Leadership Index and ETNs

July 10, 2014 | By admin
Ginny Rometty, CEO, IBM

Ginny Rometty, CEO, IBM

Barclays Bank PLC, U.K.’s second-largest bank by assets, announced the launch of the Barclays Women in Leadership Exchange Traded Notes (ETNs) on the NYSE Arca Exchange under the ticker symbol WIL. The ETNs will begin trading on July 10, 2014.

The ETNs are created to provide investors with exposure to US companies with gender-diverse executive leadership and governance. They will track the Barclays Women in Leadership Total Return Index (“the Index”), an index that follows the performance of the companies with a female chief executive officer and/or a board of directors that has at least 25% female members.

According to Barbara Byrne, Vice Chairman in Investment Banking, “Women are significantly underrepresented in corporate executive leadership, yet a growing body of third-party research suggests that gender-diverse leadership may correlate with relatively stronger corporate performance, as compared to companies with less gender-diverse leadership.” She added that, “We believe that providing ETNs and indices that enable investors to allocate capital to this theme will provide a market-based approach to help catalyze change.”

Barclays joins other money managers, including Sallie Krawcheck, offering similar investment products as attention grows on the lack of corporate diversity and the benefits of females in management. According to New York-based Catalyst, Inc., women make up 4.8% of CEOs and 16.9% of board seats in Fortune 500 companies.

Johnny Wu, Head of EFS Sales, Americas, revealed that, “As with all of our investable index products, Barclays will make the Women in Leadership index available via several investable formats, including total return swaps and structured notes as well as the ETNs. We are excited by the prospect of being able to further the conversation on the need for leading companies to have more diverse leadership representation.”

To know more about Barclays ETNs, go to http://online.wsj.com, or read the ETN prospectus at www.sec.gov.

Photo credit: www.businessweek.com

 

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