A few readers have commented on the fact that the shortlist of candidates being mentioned in connection with the Bank of America CEO vacancy is heavy male-biased - only one candidate out of around 30 possibilities.

And the one female (Bank of America's own Sallie Krawcheck) in reality stands very little chance of getting the job. But is the absence of female candidates just further evidence that the financial markets are anti-women ? We think not.

Although there is no doubt that 'the old boy's club' did exist, firms now are more diverse than ever before, and female executives have come up through the ranks. It's just that none of them appear to have made much of an enduring impact. In the UK, we've had our 'superwomen', ladies who have had successful careers and managed to bring up a family too. But most of these women's halos have slipped in recent years.

Over in the US, Zoe Cruz made President over at Morgan Stanley (she was later asked to resign), Erin Callan got as high as CFO at Lehman Brothers (she was quickly replaced), and even Sallie Krawcheck herself has come under fire for making two little impact in too many executive jobs during her time at Citi. Having said this, the very fact that women were promoted into these roles in the first instance indicates that some progress has been made.

But there are also some more positive signs on the horizon. Heidi Miller, CEO of Treasury & Securities Services at JPMorgan is showing the way, and could end up one day running a large bank (although probably not her own). And don't forget that women hold down two of the most demanding regulatory roles in the United States - Sheila Bair is the Chairwoman of the US Federal Deposit Insurance Corporation, and Mary Schapiro is Chair of the Securities and Exchange Commission.

So, are there too many men in charge of the world's largest financial institutions ? Yes, of course there are. But, given time, the situation will change. It took Britain 259 years before we had a female Prime Minister, and took the US 232 years to elect a black President. Nothing stays the same for ever.

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