Finance professionals on the fast-track to the top

The best route to the top is through a career in finance, according to recent research published by finance and accountancy recruiter Robert Half. Robert Half analysed information gathered from 200 CEOs and found that 32 per cent had a background in Finance prior to their appointments.

Chief Executives of the UK's largest companies tend to serve longer, are more likely to have a strong financial background and are younger than the CEOs of the top global companies.

Phil Sheridan, Managing Director of Robert Half, said: "Understanding the financial aspects of the company is one of the most important competencies of a Chief Executive. Our analysis shows the world's leading companies continue to put a high significance on financial skills when choosing their boardroom leaders, and in the current economic environment this is unlikely to change as business leaders face a period of uncertainty in the global financial marketplace.

"The ability to analyse figures, handle the investment and shareholder community, as well as demonstrate business acumen to all sides of a company's stakeholders, is a vital part of the CEO role. This is why so many companies look no further than their finance department for their CEO succession."

The analysis of the career paths of the current crop of FTSE 100 and Standard & Poor's (S&P) Global 100 CEOs found that the careers of some of the UK's most senior business people began with a foundation in finance including British Airways Chief Executive, Willie Walsh, who held the position of Group Finance Director prior to his appointment to the top job and BP's Tony Hayward, a former Group Treasurer.

FTSE 100 CEOs tended to have a stronger background in finance than their global counterparts, with 39 per cent of UK-listed Chief Executives having some sort of financial career path, compared with just over 26 per cent S&P Global 100 CEOs with a finance background.

Female businesswomen are underrepresented in both the FTSE 100 and the S&P Global 100, with just three female CEOs currently part of the top 100 FTSE companies and three in the global index. Of these high-flying women, a finance background remains a route to the top. London Stock Exchange CEO Clara Furse was appointed in 2001 and is one of the longer serving of her peers.