Japan’s Central Bank had a personnel reshuffle on Monday. It appointed its first female executive director. This step was a major move in the male dominated institution.
Tokiko Shimizu, became the first female to claim the post of an executive director among the six posts made available by the Bank of Japan. Experts say that this decision could affect the BOJ’s future monetary policy as whoever holds the post has sway in what tools the central bank uses in expanding stimulus.
The fifty five year old career central banker was appointed to the Bank of Japan’s bureaucrat in the government appointments announced on Monday. This is likely a part of the central Bank’s efforts to diversify its management and operations.
Earlier, she worked as a commercial banker at Shinsei Bank Ltd. and was promoted to head the Nagoya branch in 2018. There she was responsible for monitoring the country’s biggest regional economies and the centre of its auto industry. Nagoya is also home to Toyota motor corp.
It is pretty impressive to finally see a woman serve in the Bank’s nine member board that makes key policy decisions, where only thirteen percent of senior managerial posts are occupied by women. According to data provided by BOJ, even though 47% of the total staff constitutes Feminine gender only 20% are placed at career and expert positions.