Only 6% of managing directors in the City of London are women, showing the continued existence of a "glass ceiling", new research has shown.
Recruitment firm Astbury Marsden said commodity trading and corporate stockbroking were among the least gender diverse sectors of financial services, with up to nine out of 10 senior posts held by men.
The study among 1,200 employees found that some financial services businesses had a high proportion of senior women staff.
But female City workers generally worked shorter hours, mainly as they juggled their job with childcare arrangements.
Mark Cameron of Astbury Marsden, said: "Our latest research shows there is still a glass ceiling for women who work in the City.
"It can be very difficult for women to juggle childcare and maternity challenges with a demanding career in the City.
"The challenge for many women is that it is difficult to progress in an arena where long hours and entertaining clients outside conventional office hours is often expected.
"Many fear that asking for flexible working patterns is a step too far, especially in the current City jobs climate.
"There is a long way to go before men start taking an equal share of the responsibilities in this area."
