Carla HarrisBy Tina Vasquez (Los Angeles)

As we recently learned from the new Accenture study focusing on women leaders and resilience, despite a rough economic climate many companies are not only choosing to keep women’s initiatives and leadership programs, but in many cases they are expanding them and creating new ones altogether.

In December of last year, Morgan Stanley did just that by announcing its new Emerging Manager Program (EM Program), which, according to the company, “seeks to identify and provide capital, as well as strategic advice and infrastructure solutions to emerging asset managers.” What’s impressive is that the program will place a specific emphasis on including minority and women-owned asset managers.

The EM Program will be headed by Carla Harris, a 23-year veteran of Morgan Stanley. Currentlya Managing Director in Morgan Stanley Investment Management (MSIM), and chair of the Firm’s Private Placement Commitment Equity Committee, Harris was a logical choice as champion of the program due to her long tenure in the industry and as a high profile successful minority player. The actual manager participants themselves will be overseen by an investment committee comprising representatives and senior management from across Morgan Stanley.

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Ada_lovelace

Ada Lovelace

By Elisabeth Grant (Washington, D.C.)

Why so few? Why so few women in science, technology, engineering, and mathematics? This is the question the American Association of University Women (AAUW) and the National Science Foundation (NSF) sought to answer in a joint report they recently conducted and released. The report addressed a myriad of factors that contribute to the low numbers of women in technology and science, from “beliefs about intelligence” to  “workplace bias” (see the New York Times’ excellent analysis of the report in the article, “Bias Called Persistent Hurdle for Women in Sciences“).

In the Forward of the report, the AAUW explains that the study “focuses on practical ways that families, schools, and communities can create an environment of encouragement that can disrupt negative stereotypes about women’s capacity in these demanding fields.”

In an effort to support this, we present five extraordinary women in technology and science to encourage and promote the inclusion of women in these fields. There are, of course, so many more women that could be have been mentioned in this post, and please feel free to add their names to the comment section below.
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By Melissa J. Anderson (New York City)

Yesterday, theglasshammer.com hosted its second Women on the Buy-Side networking breakfast and panel discussion. Nicki Gilmour, founder and CEO of theglasshammer.com, began the event by explaining that the purpose of the gathering was to draw together top women in the investment management industry to discuss the topic of risk and its implications on performance for 2010.

Gilmour later explained that by getting top women together, we can continue to create a critical mass of female leaders in the industry and “change the perception of what a leader looks like.” For the women themselves, this was an event where “they are not the only woman in the room.”

Holly H. Miller, founding partner of Stone House Consulting, LLC, moderated the panel on the “massively broad topic called transparency,” today’s new “buzz word.” Panelists included Michelle McCarthy, Chief Risk Officer at Russell Investments, Virginia Volpe, CFA, Director of Hedge Funds, Global Transaction Services at Citi, Diane Garnick, Investment Strategist at Invesco, and Mara Topping, Partner, Investment Funds Group, D.C. Office of White & Case.

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resilienceBy Tina Vasquez (Los Angeles)

Anyone’s who’s ever had to struggle or overcome extreme hardships knows the power of being resilient; the importance of being able to bounce back and keep trudging onwards. According to a new study by Accenture, resilience – or the ability to overcome challenges and turn them into opportunities – also happens to be a much-needed characteristic in the business world; one that is key to keeping your job in a harsh economy.

The global research study entitled Women Leaders and Resilience: Perspectives from the C-Suite was conducted in support of International Women’s Day and the study marks Accenture’s sixth consecutive celebration of this global celebration, which honors the economic, political, and social achievements of women past. It is the company’s hope that their female-focused research helps fuel the dialogue on key issues affecting women in the workplace.

The Findings

Accenture surveyed more than 500 senior executives – including CEO’s, COO’s, CFO’s, and CHRO’s – of mid- to large-size companies in 20 countries across Europe, Asia, North America, and Latin America. According to the research, these execs believe that women are slightly more resilient than men. Results showed that companies are providing female professionals with a variety of programs aimed at developing resilience.

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Celebrating International Women's DayToday we are pleased to be celebrating International Women’s Day with all of the amazing women in our community.

An encouraging start to this week was Kathryn Bigelow’s historic double Oscar win for best picture and best director.

We believe this is a step in the right direction, not just for the entertainment industry, but for all industries. We need to achieve a critical mass of female leaders to change perceptions around what a leader looks like.

We also believe that there is immense value in building a strong network based on educational content. This week we are hosting our second networking breakfast for senior women in investment management. If you wish to join us to discuss Risk and Transparency in this field, please contact me – we may have couple of spots left. You can also read glasshammer2.wpengine.com on Thursday for full coverage, or sign up for our newsletter to receive this and other top stories in your inbox each week.

Every day is International Women’s Day on glasshammer2.wpengine.com. We want to see you succeed.

Sincerely,

Nicki Gilmour
CEO
Theglasshammer.com

catalystawardsBy Elisabeth Grant (Washington, D.C.)

Each year the Catalyst Award recognizes businesses that support women’s advancement in the workplace. For 2010, Catalyst Awards were given to the Campbell Soup Company, Deloitte LLP, Royal Bank of Canada (RBC), and Telstra Corporation Limited. See a list of the 69 companies that have won Catalyst Awards since 1974 on the Catalyst web site.

Companies apply for the award by submitting initiatives to Catalyst that promote “recruitment, development, and advancement of all women.” The Catalyst Awards Committee then evaluates each initiative through on-site visits and “interviews and focus groups with executive management, high-level women, human resources professionals, and other employees at various levels.” Through the evaluation process initiatives are judged on six factors (from the Catalyst web site):
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wecny leadership censusBy Melissa J. Anderson (New York City)

Last week, the Women’s Executive Circle of New York presented the results of its “2009 New York Census – The state of Women Business Leaders in New York State.” The study was created in partnership with Columbia Business School.

Yessinia Scheker-Isquierdo and Candace L. Quinn, co-presidents of WECNY opened the event with mixed results. On one hand, said Quinn, “In New York we have actually increased the number of seats held by women.” But on the other, “the percentage of companies that have no women [in top positions] has increased” as well.

Companies should encourage women in their top ranks, especially in challenging times, she explained. Women are skilled at keeping the important issues at the forefront of a discussion. The diversity of background, thought, and decision making that women bring to the table allows for dynamic solutions to problems, rather than allowing hard conversations to drift into group-think territory.

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iStock_000006262297XSmallBy Tina Vasquez (Los Angeles)

This year the iconic publication Black Enterprise (BE) celebrates its 40th anniversary. Since 1974 the magazine has featured prominent African American business women in a way that other publications have failed to. In 1991, the magazine published its groundbreaking list of the “21 Women of Power and Influence in Corporate America.” In 2006, it was a list of the “50 Most Powerful Women in Business.”

BE rang in 2010 with their most comprehensive list to date, profiling the “75 Most Powerful Women in Business,” as written by BE’s careers and lifestyle editorial director Sonia Alleyne. Alleyne’s rundown of the most prominent African American business women made its way into the hands of the publication’s nearly 3.7 million loyal readers and it is her hope that seeing successful, strong, black women will influence some of the publication’s struggling female readers to continue their fight.

“[We honor these women] to show that it is possible. The benefit men have in business, particularly in the corporate environment, is that they have so many role models; successful men who recognize potential in other young men and offer the necessary support and guidance to make sure they succeed as well. Women have historically operated outside of that network, but when we highlight women who have made it to the senior ranks of an organization or in their own business, it serves as a powerful source of inspiration to others who might be silently struggling in their companies wondering if it’s possible – or if it’s even worth the effort,” Alleyne said.

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increase_employabilityBy Elizabeth Harrin (London)

While things are looking better for job seekers, the financial sector has not yet returned to its pre-recession state. There are still fewer jobs around. And even if you aren’t looking for a new job, the risk of more redundancies hangs heavy in the City. Nobody wants to be out of work at the moment, and although it’s a bit late for New Year’s Resolutions, you still have time to commit to improving your employability this year. Here are The Glass Hammer’s top five tips for improving your CV or resumé.

  1. Speak in public

    Enough already with the excuses. You will not die if you stand up and speak in front of a crowd. Cutbacks means fewer industry events this year but there are still plenty of conferences and seminars looking for speakers. You are an expert in something, and you only have to know a small amount more than the rest of the room to look like that expert. Speak at an industry conference about a project or initiative you have worked on – no one will know more about it than you and case studies are a perennial favourite on the conference circuit.

    How do you get to be a speaker? It’s really easy – just ask. Look at the fliers that fall out of your industry publications or look on the internet for forthcoming events. By the time the schedule is published it will be too late for you to attend that session, but ask for your details to be put on the call for papers list and next time they are looking for speakers you’ll get a notification. You’ll be asked to prepare a short abstract about your presentation. The organisers take all the abstracts and choose those that would make a coherent conference schedule.

    If that still sounds too scary then start small with a talk at your local professional institute branch. Or offer your services to a women’s network – they would love to hear about your career journey. If you are just starting out, talk to university groups about how you landed your finance job.

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Image courtesy Bank of America

Image courtesy Bank of America

By Melissa J. Anderson (New York City)

Last night, the Financial Women’s Association hosted a discussion with Sallie Krawcheck, President of Global Wealth & Investment Management for Bank of America, as part of the organization’s Distinguished Speakers Series.

The candid (and often humorous) discussion touched upon career development, the state of the financial services industry, trust, and what it means to be in transition. The point Krawcheck kept returning to, though, was the importance of keeping a long term view – both in terms of the markets and in professional growth.

Regarding the state of the financial industry’s efforts to advance women in leadership positions, she said, “The industry has been working on it for a while. Progress in some years is good, and in other years it is limited.”

Many companies in the financial services industry operate in a state of crisis, she explained, working to beat quarterly results, rather than looking out for the long term good of the firm. And this behavior transfers to the firms’ hiring processes as well. Because these banks are constantly in crisis mode, managers choose to promote the so-called safe choices – people who look and behave similarly to the ones already in charge. “This goes against giving people who not just look different, but think differently” opportunities for promotion, Krawcheck said.

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