Women in Finance London 2019

By Ernest Attoh

GrowthBusiness.co.uk, DiversityQ, What Investment magazine and Bonhill Group plc reveal shortlisted nominations for the Women in Finance Awards Ceremony

After last year’s event which hosted over 500 of the UK’s top finance professionals, Women in Finance Awards returns this year on the 26th June.

This year Women in Finance London reported a record amount of nominations for the London series which made the final shortlist even tougher to finalise. The awards dinner is to be held at the Grosvenor House in an evening of celebrating and encouraging female talent in finance and gender balance at all levels.

Due to the amount of nominations received and the upsurge of professionals getting on top of the ladder, the Fintech Champion of the Year award has been segmented into the following sub-categories: ‘Banking’, ‘Funding’ and ‘Open Innovation’. With over 250 nominations entered from companies such as HSBC, NatWest, Metro Bank, UBS, Zurich Insurance, Visa, Wealth for Women, McGuireWoods London LLP, Deloitte, Voulez Capital, FINTECH Circle, Coutts & Co, LV= and PwC, 160 professionals have been shortlisted for the following awards:

  • Accountant of the year
  • Advocate of the year (Sponsored by Wesleyan)
  • Ambassador of the year (Sponsored by PwC)
  • Banker of the year
  • Disruptor of the year (Sponsored by London Stock Exchange Group)
  • Diversity Initiative of the year
  • Employer of the year (Sponsored by Rolls Royce)
  • Finance team leader of the year (Lead by a woman)
  • Financial advisor of the year
  • Fintech champion of the year (Banking)
  • Fintech champion of the year (Funding)
  • Fintech champion of the year (Open innovation)
  • Fund manager of the year
  • Insurance leader of the year (Sponsored by LV=)
  • Legal adviser of the year
  • Rising star of the year
  • Specialist inventor of the year
  • Wealth manager of the year (Sponsored by J.P. Morgan)
  • Woman of the year (Sponsored by Schroders)

View this year’s finalists for the Women in Finance Awards.

“Many of the women who are recognised in these awards are pivotal in making the industry genuinely more inclusive and attractive to a wider spectrum of employees, beyond the issue of gender.” Says Mary-Anne Daly, CEO of Cazenove Capital, our 2017 Wealth Manager of the Year award winner.

Book your place for the awards today and come together with industry leaders and inspirational role models. Come and witness female empowerment within the finance industry…Change, Lead, Inspire

 

How to enlist men as ‘agents of change’ for gender equality

Emma Watson addressed the United Nations in 2014, urging men to join the feminist movement; Barak Obama supported the cause when he proclaimed he was a feminist. Many companies recognise “men as allies” as a critical component of their diversity and inclusion efforts. And yet, support by men for gender equality is waning. Particularly in companies.

According to McKinsey’s Women in the Workplace report, “[a]lthough company commitment to gender parity is at an all-time high, companies do not consistently put their commitment into practise and many employees are not on board. ” This is supported by research. A 2014 Pershing Harris poll found that younger men were less open to accepting women leaders than older men and a 2014 Harvard Business School (HBS) survey of MBA graduates showed that three-quarters of millennial women anticipated their career would be at least as important as their partners, while half of the men expected their own careers to take priority. Likewise, less than 50% of the women MBA graduates believed they would handle most of the child care, while two-thirds of their male peers believed their wives would do so.

The privilege of invisibility

Why, I ask myself, does this gap in perceptions exist and how do we bridge it?

One reason is the so-called ‘privilege of invisibility’.  Michael Kimmel – eminent sociologist and high-profile women’s rights campaigner – explains that because people in power set the norm, they fail to see the privilege this bestows on them. An example of this is race. A white woman looking in the mirror sees a woman; a black woman looking in the mirror sees a black woman. Because ‘white’ is set as the norm by white people, white people don’t understand that other people’s skin colour impacts on many aspects of their lives. Their own skin colour is invisible to them. Similarly, because men think of gender as ‘women’, they do not see its relevance to them and don’t engage with gender equality; they see it as a “women’s agenda” – with little benefit to them.

Societal norms and expectations

There are also societal norms at work. Attitudes rooted in the 1970s predispose men to reject characteristics associated with femininity and define success as wealth, power and status. Men are supposed to be strong in a crisis, take risks and be daring and aggressive to others. Think Axe from the TV series Billions.

Although much of the above is still the benchmark for masculinity, we know that men are moving away from the stereotype and want to embrace some typically-feminine freedoms. They want to spend more time with their children, show feelings beyond the limited repertoire of lust and rage and enjoy life outside the office.

However, most boys are penalised for displaying emotions and are considered ‘weak’ if they are seen in any way as ‘feminine’. They are encouraged to be brave, ambitious and powerful and suppress individualistic urges to express oneself. This type of restrictive behaviour has been linked to an increase in suicide rates in men and underachievement at school for boys.

Compare this to the ideal of sharing responsibilities at home and at work, seeing girls and women as equals, allowing oneself to choose between career paths and redefining success for oneself. Wouldn’t that liberate men from the shackles of societal expectations?

So how do we engage men?

In a sense, men are right when they say gender equality is all about women. What I mean is that, while focusing on equalising the playing field for women, we have neglected men’s voices, concerns and horror stories. There has been a lack of interest in listening to men talk about their experiences and to delve deeper into what they truly think, need or want.

My suggestions, therefore, is to start with an open and honest, non-judgmental conversation that is based on a foundation of support for each other. We need to understand how gender stereotypes disadvantage men and give men a platform to be more than what society expects of them. After all, inclusion is about giving every individual space and freedom to be themselves. In that spirit, perhaps engaging men as change agents for women’s equality is as much about engaging women in understanding the restrictions and stereotypes that society places on men.

“Game on” for women’s football

By Melissa Jackson

Hands up if you know that there is a football world cup happening right now.

Keep your hands up if you can name any of the players!

OK, so I have grudgingly lowered my hand… in dismay because if this was men’s football, even though I do not follow every England match in the calendar in (somewhat desperate) hope that we can close a 50+ year gap of trophy privation and reclaim our global reputation, I would be able to identify at least two or three players in the squad.

Shame on me.

And for that matter, shame on my 14-year-old son, who said, “I didn’t even know there was a women’s world cup.”

Or are we being judgementally harsh on ourselves?

How much media coverage is there not just during, but months ahead of the men’s football world cup? It is inescapable – who could possibly not want to know every intimate detail of the players, both on and off the pitch? It’s almost impossible to escape from the ubiquitous “game on” mentality.

Not so, for the women’s championship, in fact it feels distinctly under the media radar. Is it because there is less money to be made in merchandising, ticket sales and TV rights? It does seem to be relegated to the side lines of the prime-time tv schedule and the prize money inequity is scandalous.

The winners of the Women’s World Cup will receive just $4m (from FIFA) compared to last year’s $38m for the men. Even the teams who ranked from 17th to 32nd place in last year’s men’s tournament received $8m. Is it just me or does this seem unreasonable?

If the Sun’s back-page headline after the first England match is anything to go by, potential sponsors are missing a (hat)trick.

“England women attract five times more viewers than men’s team as World Cup opener vs Scotland breaks UK TV record,” it proclaimed.

An audience of 6.1million people watched the Lionesses beat Scotland 2-1; an impressive 38% of the audience share. It was also reassuring to see an all-female line-up of pundits on the BBC.

By contrast, the men’s national team scored an (estimated) audience of just 1.2 million in their Nations League third-place play-off with Switzerland, the day before.

The attendance of just over 13,000, at the women’s match, which was blamed on FIFA’s marketing strategy rather than a lack of interest, was not so impressive.

My friend’s 10-year-old son, Balthazar, who admitted to being a fan of the women’s competition, thought it was “sexist” to call the men’s tournament “the World Cup” and the ladies’ version “the Women’s World Cup”.

He is wise beyond his years, especially when he swiftly addressed the disparity with, “Why can’t there be mixed football?”

It was only when I delved into the history of the women’s game that I gained an understanding of why it has been marginalised.

The women’s sport started in the late 19th century and became popular during the First World War, attracting thousands of spectators.

However, in 1921 the FA declared the game unsuitable for women and FA-affiliated clubs were forbidden to allow women’s football on their grounds. The ban was in force until 1971; so little wonder the men’s game has dominated the professional football mindset. It took another 40 years to establish the “semi-professional” FA Women’s Super League in 2011.

Aside from suggesting Balthazar’s mixed teams idea to FIFA, I’m familiarising myself with the names of England’s key players, to appease my guilt and to alert my friends – both male and female – to the significance of women’s football.

Team Talk: Introducing Jacqueline Heron

This month, meet Jacqueline Heron, Voice at the Table’s resident expert on stress, resilience and natural strengths.

Jacqueline helps people manage pressure effectively and develop resilience, enabling them to deal with unexpected difficulties or extended periods of pressure – and emerge stronger and more able. Jacqueline enjoys helping professionals realise their natural strengths and anchor them to everything they do and experience, making them naturally more resilient.

Jacqueline also works with organisations on ethical resilience – helping them “do the right thing” in times of adversity.  Starting with the leadership team, she focuses on aligning their stated values with accepted practice and behaviour.

Away from work, Jacqueline admits to being a bit of a Thespian and says she used to enjoy “treading the boards” in her local amateur dramatic society.

She also has a passion for helping young people fulfil their potential.

She said: “When my daughters were in Brownies, I found myself in the position of Brown Owl for a number of years to help keep the pack going.  All those years of watching Blue Peter finally paid off!”

If Jacqueline was “God for a day” and had the power to change one thing in the world it would be improving access to good education for everyone. This includes awareness of the opportunities available and the confidence to take advantage of them, especially for young people from low income backgrounds.  She says it is one of the reasons she is a mentor for the Social Mobility Foundation.

Jacqueline has over 25 years’ leadership experience and runs sessions on the following topics:

  • A good day at the office: how to manage stress, take control and improve resilience
  • Are you making the right impression?  How the words you use influence your career
  • Don’t leave your career to chance: how to take control and build a resilient career
  • Know your strengths, boost your performance
  • Develop a growth mindset and build your resilience
  • What got you here won’t get you there: how to move from a successful contributor role to a successful management role
  • Building inclusive teams with 4 generations in the workplace
  • START: Stress and resilience training (1/2 day and full day only)

Join Jacqueline’s webinar on how to have a stress-free summer by registering here

Active Voice: seven tips on practical things men can do to advance women at work

If you want to be an ally to women, there are many practical steps you can take. Some are simple, others might require more effort. Even incremental changes in individual behaviour can contribute to advances for women.

  1. Recruit women.

In doing so, recognise that some of the best candidates might not come to you. Men apply for jobs when they meet 60%t of the hiring criteria, while women wait until they meet all of them. Seek out female candidates via LinkedIn, through references and internships, and by making sure hiring committees put women and other diverse candidates on the shortlist. Some organisations use text-analysis software to help human resources create descriptions that resonate with women.

2. Provide constructive criticism.

Sometimes men in power are uncomfortable providing negative feedback to female colleagues or employees. The result is that women don’t get the feedback they need to advance their professional development. Be honest and fair, just as you would with your male counterparts.

3.  If you have workplace flexibility benefits and parental leave, use them.

In taking this course, you empower women to do the same. We can’t achieve gender parity if women are the only ones taking child-care leave. As novelist Liza Mundy writes in The Atlantic, “The true beneficiaries of paternity leave are women.”

4.  Be a mentor.

Women often seek out other women as mentors. But research shows that women who also have male mentors get more promotions and make more money. As a mentor, you can give general advice, but also specifics, such as negotiation advice. Actively seek-out women to mentor. Identify a woman who has made a strong positive impression on you and consider what you see as this woman’s particular strengths and talents and what you know about her experience, career goals and ambitions. Explain how you want to help her and why. Ask open-ended questions, listen attentively to her answers, and try to see things through her eyes. Be sure your conclusions are based on hard facts, not on what you assume to be true.

5.  Learn not to “manterrupt.”

Research tells us that men interrupt women in conversation far more often than they interrupt other men. Likewise, women get less credit for their contributions than men. Progressive workplaces and their like-minded male employees recognise this phenomenon as a common micro-aggression and are working to correct it, largely by modelling different behaviours. The obvious example for men to employ is simply listening more than talking, but a more active tactic is to visibly solicit ideas and questions from women at meetings, and then to affirm them.

6.  Raise the number and visibility of female leaders.

Research shows us that one of the reasons women’s aspirations dwindle early in their career path is that they don’t see female role models ahead of them in the pipeline. Unfortunately, data supports women’s views. While women enter the workplace in equal numbers to men, their representation decreases step-by-step throughout the career pipeline and falls to about 19 % by the time they reach senior “board” positions.

7. Call out injustices, even if they don’t impact on you.

Being an ally means noticing injustices you don’t feel or experience. And once you notice injustice, act. Silence about injustice is interpreted, or misinterpreted, as support for the status quo. If a man makes a sexist joke, a male advocate can simply say, “That comment unfairly stereotypes women and I don’t think that’s ok.”

Babysteps to equality in royal circles…well almost

by Melissa Jackson

So, we have a new royal baby.

A boy, 7th in line to the throne, means the nation isn’t gripped by the fever accorded to the first-born of Prince William. But the innocent Archie Windsor or “baby Sussex”, as he has been lovingly tagged by the press, has certainly made an impact in royal circles, by bumping a few relatives down the pecking order and “claim to the throne” hierarchy.

There is only one girl above him, four-year-old Princess Charlotte – and this is due to rule changes, which were introduced just four years ago, replacing “male” with “absolute” primogeniture, where gender is irrelevant for inheritance. Progress has been slow in the higher echelons of the establishment.

It’s a world away from Japan, where a new dynastic monarch was recently anointed. Emperor Naruhito has one child – Princess Aiko and for a while this raised the debate over whether to adopt absolute primogeniture. However, the birth of a son to Naruhito’s younger brother in 2006, suspended the discussions.

Unpalatable as this is, I am more vexed that the ceremony itself belched under the weight of conscious bias and sexist dogma. All Imperial women – including his wife and daughter – were banned from his enthronement.

The absence of female royalty at the ceremony casts a critical spotlight on the role of women in Japan’s Imperial family and its traditionally archaic rules. In the 21st century, it seems some conventions have escaped the march of enlightenment.

There is one reassuring irony in all of this – a woman did manage to legitimately attend the ceremony. Among a sea of men in black tailcoats, there was one guest, dressed in a light silk kimono.

As the only female minister in the current government’s cabinet, Satsuki Katayama earned herself a place in the history books to become the first woman in modern times to officially witness the ceremony.

I am thinking of inserting a happy emoji here, but had better not get ahead of myself!

Back home, I was delighted to learn that the UK has its first female Defence Secretary in Penny Mordaunt after Gavin Williamson was sacked.

She is the daughter of a paratrooper, attended a comprehensive school and is a Royal Navy reservist. Perfect credentials. In her role of Minister for Women and Equalities, one she will keep, she has been outspoken on abortion law, privately pushing the prime minister to work to end the ban in Northern Ireland.

She now has to navigate what is still a very male dominated world.

She has spoken previously about the difficulties of being a woman in the armed forces, notably  calling for them to become more accessible by highlighting her own training.

“I felt that the lecture and practical demonstration on how to care for the penis and testicles in the field failed to appreciate that some of us attending had been issued with the incorrect kit,” she said.

Clearly a woman who is destined to make an impact.

Active Voice: 10 ways to make your team meetings more inclusive

Meetings are opportunities to benefit from the team’s cumulative thinking. Yet at most meetings, 70% of the contribution comes from 30% of contributors. To ensure everyone participates equally, create an inclusive team meeting environment that allows everyone to tap into the diversity of thought of their colleagues by following these 10 guidelines:

  1. Set up each agenda item in the form of a question. This engages the mind and improves thinking.
  2. Check titles at the door and allow everyone to speak freely, no matter how junior or new.
  3. Encourage everyone to speak up early by asking a simple/ice breaker question and going around the table for each person to answer in turn.
  4. Agree with each person to listen attentively and to not interrupt other speakers.
  5. Create a judgment-free zone. Everyone is entitled to their view and, while views may vary significantly, there is no right or wrong view.
  6. Encourage discourse. To avoid ‘groupthink’, encourage team members to openly (yet politely) disagree with each other to generate some friction. The more disparate the ideas, the closer you will get to finding those gems.
  7. Acknowledge that you don’t know everything. Being humble and admitting that one does not have all the answers builds trust and respect.
  8. Encourage a growth mindset. When someone doesn’t know something, they don’t know it – yet!
  9. Fail fast and fail forward. Failing at something is a milestone to learning, not a sackable offence. Acknowledge failures and learn from them as a team.
  10. Adopt a “disrupt” approach. Revisit existing assumptions and conventional approaches. Encourage team members to think creatively – no suggestion is a dumb idea.

For more information on how to run inclusive team meetings, please contact us.

Three inclusive behaviours we can all learn

Have you ever asked yourself why Diversity and Inclusion always appear together? Why isn’t Diversity in itself enough? Surely it should be sufficient to work alongside people of different backgrounds and experiences?

Diversity, unfortunately, is only half the story.

Benefiting from diversity of thought means more than having a diverse group of people. I worked in an office where we counted over 50 different nationalities, but in the workplace, most assimilated into a corporate culture that discouraged us from being ourselves.

That’s why we need Inclusion. An inclusive culture is an environment in which every individual feels welcomed and valued. In this environment the advantages of diversity can be fully harnessed; we can attract and retain future talent and develop a distinguished and sustainable competitive edge.

How do we create an inclusive environment? Here, I often quote Ghandi: Be the change you want to see. Try to role model inclusive behaviours that invite others to open up and be themselves without fear of judgment, retribution or career sacrifices.

There are nine inclusive behaviours that we can adopt. Here are three of them:

  1. Empathy

Empathy is described as the ability to understand another’s feelings. This is a key attribute of inclusion because understanding a person’s motivation allows you to adapt your behaviour and judgment accordingly.

Empathy is about asking yourself “If the roles were reversed, how would I feel? What would I do?” Imagine being the only vegetarian in a group of friends going out to dinner. How would you feel if everyone wanted to go out for steak? Would you feel encouraged to go along? Now think about that colleague of yours who doesn’t consume alcohol when you’re all preparing to go out to the pub. How do they feel? Are they likely to feel invited and included?

Understanding how others feel allows you to step into the shoes of your colleague, your boss or your client to understand the world from their perspective and tailor your responses, demands and services accordingly.

  1. Listening Skills

Listening is different from hearing what’s being said; it’s about listening with purpose to understand what the other person is saying.

How often do we jump in with our thoughts – and sometimes words – while someone is speaking to us? How common is it to interrupt and try to finish the speaker’s sentence? How frequently are we simply waiting our turn to speak instead of actually listening?

Listening without interruptions allows people to grow and develop. It allows the speaker to open up and to start building a trusting bond with the listener. It allows you to better understand the speaker– to show respect and acknowledgment of their perspective.

  1. Bias and Self-Awareness

Bias is our brain’s ability to make split-second decisions about people and matters based on our own filters and experiences. Our brain filters information all the time to help us make decisions. It assumes that all similar situations are the same. We judge based on those initial assumptions. When we’re in the hospital, we think the whole world is sick.

But what if those assumptions are wrong? When we’ve been bitten by a dog, we assume that all dogs will bite us.

What if they get in the way of making good decisions? When we encounter a timid person, we think they’re not cut out for leadership.

To avoid making poor decisions, we need to become aware of our assumptions, prejudices and judgements. We need to check them and test them: are we making a reasoned judgment or is it based on a potentially wrong assumption? That is where self-awareness comes in.

Self-awareness is the ability to have a clear perception of our own personality – our strengths, weaknesses, thoughts, beliefs, motivation, and emotions.  It also allows us to become aware of our own assumptions and to challenge and test them. Self-awareness allows us to take charge of our emotions and thoughts and change them; it allows us to be more aware of our innate biases, be more inclined to question our actions, our thoughts and our feelings. In other words, the more self-aware we are, the less biased we can become, creating an environment that values our differences.

If you want to create a culture that benefits from the diverse contribution of each individual around you, start by grasping these three inclusive behaviours.