City 'Superwomen' Knocked Back

It's remains tough for women to rise to top in the City and two City 'superwomen' who have arrived at the pinnacle have recently suffered setbacks.

The Times reports that WestLB has refused to back Robin Saunders in her quest to establish an independent private equity division. The bank's executive board rejected the plans at a meeting last month.

A WestLB spokesman confirmed: 'We had a meeting to discuss how to take the principal finance business forward and one approach was to follow the Guy Hands model. We decided against that, in part because we did not want to dilute a very significant earnings stream'.

The Daily Telegraph reports that Katherine Garrett-Cox, the fund manager once nicknamed 'Katherine the Great' has now lost her position on the board of Aberdeen Asset Management.

The fund manager, which is at the centre of the split capital investment trust scandal, has reduced the number of board members from 19 to 11 and adopted a structure which 'reinforces the distinction between corporate and strategic responsibilities and operational responsibilities'.

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