As I have touched on, there is strong evidence to show that diversity at senior levels of regulated entities can help to reduce the likelihood of groupthink, increase the level of challenge and improve decision making and risk management. There is also a clear connection between the diversity in an organisation and its culture.
These are all attributes that as a regulator we should and do care about. Groupthink, in particular, was identified in the Nyberg Report as a contributing factor to the financial crisis in Ireland.