Rania Llewellyn, the former CEO for Laurentian Bank, stands for a portrait outside one of their branches in downtown Toronto on Oct. 20, 2020.It is beyond irony that this year, of all years, one of the most senior and best-known women in Canadian banking is out of a job, with next to no explanation.
The better question: Did Ms. Llewellyn ever really have a chance? By the time she was hired, Laurentian Bank was losing relevance. It didn’t even have a mobile app until she developed one – in. She hoped to turn the bank around with a three-year strategic plan, but didn’t have a chance to see it through.It is tempting to write it all off as an unfortunate scenario. But Ms. Llewellyn’s experience is not unique.
“The way that it repeats itself is so textbook,” says Julie Cafley, executive director of Catalyst Canada, an organization that pushes for inclusive workplaces. And when it doesn’t work out for the female CEO, another woman often isn’t given a chance. “It’s very, very rare that you have two women CEOs back to back,” she said.Think Kim Campbell in 1993, or more recently, Theresa May in Britain. Ms.
But that isn’t a long list, and that matters because the banking sector has a large cultural footprint in Canada, especially since the 2008 global financial crisis when Canada’s banks were held up as some of the best run in the world.
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