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Top Swedish Banker Takes Aim at Wealth Gap Between the Sexes

The chief executive of Sweden’s biggest bank wants to retrain financial advisers to help female clients catch up to their male counterparts in accumulating wealth.

Carina Akerstrom, the CEO of Svenska Handelsbanken AB, says the goal is to go over the investment habits that women often have and that tend, on average, to lead to smaller savings when they retire.

In general, evidence suggests that “women like interest-rate” products, while “men like stocks better,” Akerstrom said in an interview. She also notes that women are more likely to do what their advisers recommend than men are.

The upshot is that women have fallen financially behind. In Sweden, female savers have almost 30% less in retirement income than men, according to a March report by the OECD. That puts Sweden slightly behind the average gap in the rich world, which the OECD estimates is 26%.

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Source: Svenska Handelsbanken AB

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