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| Hargreaves Landsdown boss: Gender quotas for firms are 'mad' because men are 'more ambitious and positive' than women | Hargreaves Landsdown boss: Gender quotas for firms are 'mad' because men are 'more ambitious and positive' than women |
| (35 minutes later) | |
| Companies should not be forced to hire more women bosses because men are “more ambitious and positive”, according to one of Britain’s top financiers. | Companies should not be forced to hire more women bosses because men are “more ambitious and positive”, according to one of Britain’s top financiers. |
| Peter Hargreaves, the billionaire co-founder of Hargreaves Landsdown, described as “mad” government plans to ensure one-in-four top executives are women. | Peter Hargreaves, the billionaire co-founder of Hargreaves Landsdown, described as “mad” government plans to ensure one-in-four top executives are women. |
| A government-backed report by Lord Davies, to be published this autumn, is expected to back such a quota. | A government-backed report by Lord Davies, to be published this autumn, is expected to back such a quota. |
| But Mr Hargreaves has told the Daily Mail that – while his firm is “very pro-women” - this amounted to “tokenism”. | But Mr Hargreaves has told the Daily Mail that – while his firm is “very pro-women” - this amounted to “tokenism”. |
| He said that companies should have the ultimate say on the composition of their boards. | He said that companies should have the ultimate say on the composition of their boards. |
| He said: “We’ve always been very pro-women, and having boards with less testosterone can be a good thing. | He said: “We’ve always been very pro-women, and having boards with less testosterone can be a good thing. |
| "But companies should make these decisions for themselves. I don’t think governments should enforce it. | "But companies should make these decisions for themselves. I don’t think governments should enforce it. |
| “With men you have a bigger pool to choose from – they tend to be more ambitious and positive.” | “With men you have a bigger pool to choose from – they tend to be more ambitious and positive.” |
| “If there is a woman who is more capable than a man to do the job they should get it. | “If there is a woman who is more capable than a man to do the job they should get it. |
| “But they shouldn’t get the job just because they are a woman.” | “But they shouldn’t get the job just because they are a woman.” |
| At present, women account for just 8.6 per cent of directors on FTSE 100 executive committees – management teams that sit just below the board. | |
| The Lord Davies report is expected in October, with companies expected to hit targets within five years. |