This new report from Deloitte provides up to date figures on the number of women holding CEO, C-suite or board seat positions within financial services institutions. It concludes that organisations which prioritise and advance gender equity internally can position themselves to influence public policy, reshape cultural norms and differentiate themselves across society as a whole.
During the early days of 100 Women in Finance (100WF), I was a principal at Aquamarine Capital and volunteered with the organization in a number of capacities. My passion around advancing the mission of 100WF led me to become the first executive director and then the first CEO of 100WF in 2014. During that time, the organization has grown to 31 locations across five continents. Our united mission globally remains to empower women at each career stage and to inspire the next generation of precareer women to find pathways into the finance industry.
In 2021, we celebrated our 20th anniversary, and implemented a new guiding purpose: Vision 30/40. Our Vision 30/40 states that by 2040 we want to see 30% of senior investment roles and 30% of executive committee roles filled by women. We chose to focus on these roles because they remain underrepresented and stubbornly slow to increase. To achieve Vision 30/40, we need genuine and accelerated commitment from both individuals and firms in the industry. While not an easy feat, I believe that with the drive and determination of our members, volunteers, and industry firms, supported by our global staff, we will get there.
In 2022, we announced a new series of 100WF DEI Awards, given regionally, with the aim of highlighting firms in the industry that are making strides toward our Vision 30/40. Our hope is that through our DEI Award, we can demonstrate to the industry that it is possible to create meaningful demographic change if you are deliberate as a firm in pursuing the goal of creating a more inclusive culture that attracts female talent from every background. Not only will the award highlight firms that are increasing representation of women in the senior investment and executive committee roles, it also enables 100WF to gather leading practices in both DEI policies and initiatives that we can share publicly. This way, every firm in the industry has the tools to create a more inclusive workplace for all.
Deloitte, one of our global corporate sponsors (and a founding 100WF Leadership Council member), focuses on creating a baseline analysis of women in leadership positions across financial services globally. This latest report—Advancing more women leaders in financial services: A global report, produced by Deloitte’s Center for Financial Services—builds on previous reports in the Within reach series, to capture the global data needed to determine answers to a number of key questions. Over the past 20 years, how has women’s representation in key strategic roles changed? Are we making progress in some roles and not others? Does progress differ by geography? Where has progress been made, where is there still work to be done, and how do we identify these areas? Such analysis serves to recognize progress made and solidifies the necessity for concentrated and focused effort across geographies to drive continued growth into the next decades.
All factors considered, some positive gains have been made over the past two decades, but if we are to see meaningful demographic change in our industry, we must all commit to accelerating our collective efforts. Getting to Vision 30/40 requires deliberate action. This action must include both a focus on measurement and analysis and implementation of initiatives that can drive the change we all want to see.