ONE OF Australia's most powerful female company directors, Carolyn Hewson, has a message. If women are to participate fully in corporate life, Australia must embrace the nanny culture.

''We do not have a nanny culture in this country, and it severely hampers us - and I speak here from personal and desperate experience,'' the former investment banker told the Women in Banking and Finance forum.

Carolyn Hewson ... says we need men working flexible hours. Credit:David Mariuz

''In Asia, and in Europe, there's a much more appropriate nanny culture,'' she said.

Her comments this week came as fellow panellist and keynote speaker, the Minister for Finance and Deregulation, Penny Wong, said the government would appoint women to more than 500 government boards. Companies have cited the lack of board experience as a significant barrier when making private-sector board appointments.