The board of the Investment Management Association is set for a shake-up after appointing Helena Morrissey as chair in June.
The Newton chief executive told the Financial Times: “It is clear we need more women on the board.
“It is not official policy yet but the board is due to meet to look at the effectiveness of our corporate governance and we will scope out the issue of diversity then.”
Morrissey is founder of the 30 per cent club, which calls for 30 per cent female representation on boards by 2015.
Along with Allianz chief executive Elizabeth Corley, Morrissey is one of only two women on the IMA board.
The IMA is in the process of merging with the investment arm of the Association of British Insurers.