[MUSIC PLAYING] The difficulty in the finance industry is really striking a balance in terms of your work and your life. And I think that has been a challenge that many financial institutions have been facing, in terms of retention.
It’s structural. I think the banking industry, traditionally, was designed for men by men. And therefore, there really wasn’t a space for women to get in.
How the industry is structured, the kind of reward system– finance industry, mainly rewards people who put in a lot more hours. Then you’ll find that women are really disadvantaged in that aspect.
So I think the combination of the intensity of the hours, the very sort of heavy transaction driven environment, the deadlines, the travel, is a factor that has perhaps inhibited some women who want to maintain that balance from furthering their careers.
So what the industry can do, I think, it starts with the people that are in the industry. I think it’s great that we have a lot more female leaders. We need more female leaders to then be role models for other young people, but equally they need to be at the table to shape the conversation. And say that having women in finance is important.
I believe there is power in diversity, even within genders. And that is why it is important that the perceptions in the industry change fast. And women participation is increased at all levels of businesses, at board level, at senior management level. And this could, I believe firmly, that this can really enhance businesses in terms of their performance, instead in terms of how they are viewed in the industry, in terms of how they give back to community, in terms of how the community views the firms.
I think, generally speaking, clients would benefit hugely from having more balance in terms of the relationship managers, the fund managers, the wealth managers who are actually managing their money, the different asset classes, by bringing in those diverse views and diverse attitudes to risks that would be much better represented if you had more balance in terms of male and female constituents who are actually driving those investment decisions.
What I’d like to see in my lifetime, of course, and even for my daughter, is that when she comes into finance, it’s no longer an anomaly. It’s no longer unusual for her to be here. And it’s no longer unusual for her to aspire to the highest level of this industry.