Tag Archive for: Hispanic Heritage Month

Gia Morón, CEO, GVM Communications, Inc & President, Women Grow

Gia MoronFrom entertainment to Wall Street to PR entrepreneurship, Gia Morón has repeatedly found herself in spaces she never imagined.

With a gift for drawing connections and a super keen gut instinct, she’s now at the forefront of women leaders driving diversity in the emerging cannabis industry.

Different Industry, Similar Skills

As Director of Promotions and Publicity for an entertainment firm in her 20s, Morón cultivated a passion for telling stories. When one day she was laid off, a staffing company suggested a curveball.

“There wasn’t an inkling within me that would’ve thought that I would be on Wall Street,” she says, having barely paid attention to the stock market. “I was thinking how different could this be? Only to learn that the same skill set still applied, just in a different industry.”

As Media Relations Officer at Goldman Sachs, she found that finance was as much about storytelling as entertainment was. She also soon realized that everything – including the entertainment world – came back to the hub of finance.

“I thought it was only a stepping stone,” she says. “But I don’t think school could’ve taught me what I learned on Wall Street.”

Becoming an Entrepreneur

“Oftentimes when we’re in the middle of something,” says Morón, “we have no idea what we’re being prepared for next.”

Morón worked with the 10,000 Women initiative at Goldman Sachs, which also launched 10,000 Small Businesses. So when the 2011 downsizing ended her 15 year stint there, she started her own public relations, brand and business development firm to try out similar consulting, this time on her own.

“I said let me take the time to do this now,” she remembers, “rather than regret not doing it. If it doesn’t work, I can always go back.”

Morón launched GVM Communications, Inc on April 20th, 2012, a date (4/20) that, in retrospect, seems auspicious.

“I wanted to try something different, but I went back to something I was familiar with,” she comments, on initially taking on finance and tech affiliated companies as her client base. “And I thought to myself, I’ve got to fire myself and really go into something entirely different.”

So she began to amass clients from fashion to plastic surgery, which she now sees as preparing her for the next development, which sparked when she started noticing a documentary series on legal marijuana on CNBC around 2013.

The Story Didn’t Add Up

“I am thinking this is prime time and they are focused on marijuana on a financial network,” Morón recalls. “There’s something I need to pay attention to. And that (intuition) I attribute to Wall Street, where you learn about forecasts.”

What also piqued Morón’s intrigue was that all the interviewees for these businesses were white men, whereas people of color from her old neighborhood were being arrested for the same thing that was now becoming legal, and lucrative.

“There’s a changing of the tide that really is only showing the success of a white male community, but continues to show the disproportionate civil injustices against Black and brown people,” she observed. “Well, that didn’t make sense to me.”

Stepping Into the Room

After discovering Women Grow in a magazine she was cover-pitching for a client, Morón apprehensively attended her first meeting, just off Canal Street in New York City.

She was surprised to find a very friendly room of people dressed in blazers with an atmosphere akin to an afterwork social networking gathering, but only five Black people present.

“I thought you could pick this room up and put it anywhere in the country, but you’d never know you were in NYC based on the lack of diversity,” says Morón. “And we’re talking about marijuana, right? Why shouldn’t there be a whole plethora of diverse faces in the room?”

“I walked up to every single Black person with a smile on my face, the five in the room, and I was very direct. I said, ‘Hi Black person, my name is Gia’,” says Morón. “I wanted them to know I see us in this room, and I recognize that it is important for us to acknowledge each other.”

She would then suggest they get to know the room, and regroup. This strategy worked and for the next meeting, she and the others brought ten more interested people of color.

“I think you can approach a situation like that and feel like you’re the only one,” she says, “or you can say, ‘I can invite other people and not be the only one.’”

She realized from the meeting that her PR skills were needed in the cannabis industry, and began to bring in new clients in 2015 to her GVM portfolio.

“That is when I learned that whatever people were currently doing in their jobs or their businesses could be applied in the cannabis industry,” says Morón, attributing her vision again to her time in finance. “And once that light went on, I recognized that cannabis would eventually make its way into every industry that operates today.”

Forging Diversity In an Emerging Industry

For Morón, Women Grow is the “gateway” into the cannabis industry for women, a network of diverse women bonded by the common mission of becoming leaders in this emerging industry.

“Oftentimes we come into a new space with old practices looking for different results that cannot happen unless we become intentional and conscious about what we need to change,” she observes.

Her organization has repeatedly witnessed the need to challenge and disrupt the familiar bastions that uphold the white men’s club – such as disproportionate access to licensing and capital – amidst the major obstacles of no federal legality, regulation or banking system.

Women represent 27% of cannabis leadership so far, ahead of other industries, and this is a direct result of intentional action to correct the course, now. Still Morón says more work needs to be done to see further leadership of women in the industry.

A new partnership with the Arcview Group’ Women’s Investment Network (“WIN”) will focus on educating, deal flow and networking around investment.

Creating a Legacy of Leadership

Alongside brilliant colleagues she admires and feels bolstered by, Morón has forged inclusion not only in the industry, but also at Women Grow.

“White women often see diversity as gender first. Whereas women of color see diversity as cultural first, then gender,” she discerns. “I didn’t recognize that until I was having these amazing conversations with women across the industry.”

Morón talks about releasing the fear and judgment that arose as she ventured into cannabis, and how every stereotype that could come up has been blown apart. She said the biggest misconception most people have is that they must consume cannabis in order to be in the industry, which is not the case. Learning about the plant and regulations that vary from state to state about the industry is most important.

“My gut feeling kept telling me over and over, you’re on the right path,” she says. “I had to recognize every time I trusted my gut, it didn’t fail me. I’ve experienced small fails, but not complete failures.”

“I am so proud to actually be in an industry where I find people who look like me – women and people of color, coming together, having the backgrounds we have, doing the work we are doing, and I get to say this is my network of people,” Morón beams. “We are literally part of the bricklayers of building this industry.”

“Our ancestors or people from our communities have paid the price,” she says. “And now our responsibility is to execute and make a positive impact. We believe in an industry where we can thrive, and not just survive, but moreover really create legacies for our own families and communities.”

by Aimee Hansen

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Iris Colón, Manager, Transformation & Growth, BDO

Iris ColonIris Colón names her biggest learning moment as being able to recognize the power in your own voice, especially as a woman of color.

That confidence often comes from accumulated knowledge, but since she has been fortunate to work in a wide variety of industries, she knew that she couldn’t have amassed as much industry knowledge as others; however, that didn’t make her opinions less valid.

“Even if someone had more longevity, I can speak from different perspectives, which is especially important in today’s climate,” she says, adding that she also likes to be the voice for others who feel there is too much risk to speak up or take action. She learned to advocate for herself as a teenage cancer survivor.

Pivoting Among Industries

”Winding, with some roundabouts” is how Colón describes her career path. Her first role out of college was as an assistant at a nonprofit working to improve afterschool programs by enhancing the skills of afterschool staff. She believes being discovered for the role was serendipity as she had applied online, and by coincidence, the CFO had been the program director of an afterschool program she had attended many years ago and recognized her name. Then, she was interviewed by someone who had attended her college and lived in Washington Heights where she grew up.

After her stint there, Colón went to work in NYC government on workforce development, first holding positions as an analyst and then a manager. Her next pivot was to technology since she had planned to move to Connecticut, and many New York City agencies require you to be a resident. She was able to land the job because of her transferrable skills in data management, which she had performed for all the workforce development programs. While there, she pursued her MBA while working fulltime.

After graduation, Colón decided to seek consulting roles with a human component and took a position with a healthcare company, where she helped implement multiple organizational changes, such as the Fully Integrated Duals Advantage (FIDA) program. Then as the firm confronted transformation, she decided it was a good time for her to seek other opportunities.

She held a client-facing role at McLagan an Aon company for three years, where she worked with fintech firms helping them establish their vision and HR initiatives, as well as with major financial companies in the Caribbean. Now she is at BDO, working on a team focused on Strategy, Operational Efficiency, Mergers & Acquisitions, and Learning & Development for the Advisory division.

As she has moved between roles, she has always prioritized finding a company that lives its values. To help assess that, she treats interviews as a two-way fact-finding mission, asking how they treat employees of all races and genders.

Her proudest professional achievement encompasses two facets: She is proud of her workforce history where she’s been able to adapt to so many types of industries, with a personality that lends itself to be a good fit with a wide variety of people and projects. However, she’s also proud of her education. As a Latina, graduating from college as a first-generation student was an amazing achievement, and then earning her MBA, as one of the few women in her classes, and also taking a leadership role in student government while she was at NYU Stern.

Giving Back is Part of her Nature

Colón believes strongly in the value of mentors. When she graduated from high school, she was awarded a scholarship and partway through her college experience she was assigned a mentor who could help her through her schooling and choosing her major. But Colón adds that she wishes she’d had more mentors who looked like her and shared similar experiences and backgrounds. Nevertheless, she says she was fortunate to have had multiple female bosses, and therefore was able to note qualities that were both good and bad to emulate or avoid.

Sometimes she believes women can see each other as competition, which can hamper a working relationship. She found it vital to identify a boss who was supportive of what she wanted to do and saw her potential and then was willing to help her grow. “Your boss needs to be an advocate for you and show they want you on the team,” she says.

Currently, Colón is active in her firm’s Multicultural Alliance that helps to plan events and also makes sure that company leaders back up their words with actions related to diversity and inclusion. Outside of her firm she gives back to organizations that have been important to her, such as the Women’s Bond Club, where she initially received her scholarship. The group has since expanded its programming to include internships and mentoring and now awards multiple scholarships.

She also participates in several alumni groups connected to NYU, including the Black and Latino Alumni Group of NYU Stern and NYU Alumni Club in Connecticut, and Haverford College, Multicultural Alumni Action Group. As a young adult cancer survivor, she is part of the First Descents and Stupid Cancer communities.

As a native New Yorker, she never anticipated moving to Connecticut, but enjoys a full life there with her husband, Anthony, and three-year-old son, Justin. And now she shares her newfound love with others, as a member of the Newcomers Club of New Canaan’s social committee dedicated to helping new residents connect with each other and get involved in the town.

“Diversity can infuse every part of your life,” she says.

by Cathie Ericson

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Far Too Few Latinx Executives: When Will the C-Suite Stop Resisting Reality?

Theglasshammer is celebrating Hispanic Heritage Month 2020 with profiles of Latina leaders. Enjoy our 2020 update progress!

The gap between workforce participation and leadership presence is wider for Hispanics than any other group in the U.S., and Latina executives report cultural barriers to inclusion. The result of these barriers is far too few Latinx executives, which is an inequitable representation of not only the growing Hispanic population but also of its buying power. What will it take for the C-Suite to understand this?

Hispanics make up 18.3% of the U.S. population and 17% of the workforce, but only 4.3% of executive positions. Though female CEOs amidst the Fortune 500 hit a record high this year (37, vs. 33 last year), only three are of color, and none are Latina or black.

Latina women also experience the worse gender wage gap, earning 46% less than white men and 31% less than white women. As for the pipeline, for every 100 entry-level men who are promoted to manager, according to a McKinsey study, only 68 Latinas are.

High Workforce Participation, Few Leadership Positions

In New York, Hispanics represent 22.6% of the workforce, but only 4.5% of executives. In LA, Hispanics represent 34.2% of the workforce and 8% of executives. In Houston, they are 43% of the workforce and 10.3% of executives.

Secondary cities with a smaller Hispanic population of less than 4% seem to exhibit more equity in leadership representation, such as Pittsburgh, Detroit, St. Louis and Cincinnati.

Miami, where the benefits of cultural and linguistic diversity are likely more valued, and where Latin America media-based companies like Telemundo are based, is an exception with 44.1% of the population and 24.6% of executives being Hispanic.

Cultural Barriers to Inclusion

“I am just one of millions of people who have been told that in order to fulfill my dreams, in order to contribute my talents to my world, I have to resist the truth of who I am,” expressed award-winning actress America Ferrera in her Ted Talk last year, “I, for one, am ready to stop resisting and to start existing as my full and authentic self.”

Along these lines, a recent qualitative study by the Network of Executive Women (NEW) and Latinarrific explored barriers to inclusion for Latina leaders, as possible insight into the exodus from big companies. The focus group study was based upon 36 Latina leaders, 25 mid-level executives and 11 senior executives.

The executive participants mentioned several Latinx cultural aspects that clashed with U.S. big corporate culture and inhibited “authentic advancement.”

These “barriers of inclusion” included:

Collectivist (vs. Individualistic)
Whereas corporate culture exalts an individualistic culture of assertiveness, independence and push-back, Latinas come from a more collectivist culture that emphasizes being selfless, giving and respectful of authority. Participants felt this focus on collaboration and end results rather than self promotion can create the impression that Latinas are less “hungry” for individual advancement, and they get overlooked.

Latina Expressiveness (vs. Reserve)
Some women spoke of their “Latina-ness” as being “too much”, with phrases like “too colorful” or “too expressive” or “tone it down.” Others referred to being perceived as having a “Latin temper.” Compared to a cultural norm of expressiveness and gesturing, the office “poker-face” can be enigmatic.

Personalismo (vs. “Too Familiar”)
The Latin comfort with physical proximity, openness and touch as personal and respectful ways to do business can clash with the more distant and removed norm of the U.S. boardroom and more uptight cultures.

Prioritizing family (vs. “Whatever it Takes”)
Latinas put a big importance on sharing time with family and reject the notion that spending more time with family diminishes their commitment to or delivery on the job. Despite lip-service, the corporate line remains an attitude of doing “whatever it takes” for work.

COVID-19: A Catalyst to Embracing Latina Leadership?

“Most Latinas feel they’re not being listened to or supported because their values do not align to the corporate culture,” said NEW member Iliana Rojas Saldana, Founder and CEO of BeLIVE Coaching & Consulting, who turned to entrepreneurship like many, only after holding executive positions in Fortune 500 companies.

But that could be changing in the light of the pandemic impact.

“In a way none of us could have predicted, many of the traits the Latina professionals in our focus group cited as drawbacks within the traditional, white male dominated workplace – expressiveness, empathy, a desire for work-life balance – have become celebrated assets in the COVID-19 work-from-home landscape,” shared study co-author Karianne Gomez.

Even as the stay-at-home orders loosen, Saldana suspects the opportunities for Latina executives could improve. “Companies are rethinking the working environment; seeing how employees can be productive – especially Latinas who (successfully) manage family and business.”

The study authors observe that Latina executives have the competitive edge of having “a foot in two worlds,” and this has never been more valuable than now.

“A Latina’s cultural heritage has genetically engineered her for the work-from-home paradigm shift prompted by COVID-19,” said study co-author Arminda Figueroa. “Freed from the stress of babysitters, elder-care and long commutes, she can seize her full potential as ‘Chief Household Officer,’ being there for her family while managing her schedule and tapping into her overachieving nature to produce high quality work.”

“You are What the World Looks Like”

“My identity is not my obstacle. My identity is my superpower. Because the truth is, I am what the world looks like. You are what the world looks like. Collectively, we are what the world actually looks like,” spoke America Ferrera. “And in order for our systems to reflect that, they don’t have to create a new reality. They just have to stop resisting the one we already live in.”

With a 19.6% (and growing) Hispanic population in the U.S. that controls $1.5 trillion dollars in buying power, it’s time for corporate culture and the C-Suite to meet reality.

by Aimee Hansen

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Isela Bahena, Managing Director, Private Infrastructure Group, Nuveen Real Assets

Isela BahenaIn our careers, we oftentimes think ahead to potential impacts of any move, which while deliberate, can make us hesitant to grab an opportunity that doesn’t fit our exact narrative.

But what might seem like a career deviation can often turn out to be something you should embrace as a real opportunity, says Isela Bahena. “It might seem scary, but looking back I see a lot of growth when I took those chances,” she says. “There will be challenges, but sometimes the bridge is going to look different when you actually cross it.

This outlook has paid off in her career, but her demeanor, as well. In fact, she finds that younger colleagues often ask her why she doesn’t look nervous when changes are announced. “I tell them that’s because in the long run I always see them as opportunities.”

Embracing Change

Bahena has held this attitude throughout her career, which started in public finance and commercial lending, an area that she believes offered a strong foundation in skillsets for what she does now. After five years at Bank of America, she then decided the time was right to earn her MBA and attended Duke University’s Fuqua School of Business. During her summer in between first and second year, she interned at TIAA, Nuveen’s parent company; her lending background attracted them to her as a candidate, and she received a full-time offer to join them after graduation.

She’s been there since 2004, working on a number of teams through various rotations, starting with the private placement and private equity funds and co-investment. She found that to be an especially exciting opportunity as she was the sole associate on the team at the time, supporting seven directors and managing directors.

“I was learning a lot because I was touching all sorts of deals, which quickly expanded my breadth of knowledge,” Bahena says. Her ability to underwrite equity investments was a big advantage, and she was soon tasked with joining a team that was building a new asset class in private equity infrastructure. A decade later, she is driving strategy as a senior member of the team. “Generating ideas and envisioning what the business will look like as part of the broader organization is exciting, and this is one of the most interesting things I’ve done,” Bahena says.

There is growing interest in the sector where she invests, as well as ESG and impacts of climate change, where the firm is a leader globally. “I am at exactly the right juncture to showcase our strength and leadership to the market.”

Subtly Encouraging Diversity

While progress has been made, Bahena points out that finance is still a very male-dominated industry, and she believes that increasing awareness is the first step to be more inclusive. What happens, she finds, is that successful professionals often look for a younger version of themselves in candidates, but she notes that we need to collectively change that perspective to introduce more diversity in the industry.

“You have to be able to see other versions of yourself so you can share opportunities with those who don’t look just like you,” she says. For example, when a male colleague mentions that a new candidate or hire reminds him of his younger self, she suggests he think about someone who reminds him of a daughter or niece as well. “I look forward to being part of that change,” she says.

Throughout your career, she says it’s vital to always keep learning and adding to your tool kit. “It keeps you fresh and keeps your career interesting,” she says. In fact, one of the professional achievements Bahena is most proud of was being chosen to participate in the Emerging Leaders program in 2012, an opportunity that allowed her to meet a small group of colleagues who are now leaders all over the organization. “It was a nice pat on the back to be included and it was important for my growth and development,” Bahena says.

While she appreciates participating in industry-oriented events targeted toward women as a way to collaborate and discuss challenges, the goal, of course, is that women won’t need those to thrive.

When mentoring others in her organization, either formally or informally, she encourages them
to consider the brand they want to portray. “What adjectives do you want colleagues to consider when your name is said? That impression will precede you, so you want to make sure you’re building the reputation you want to have to the best of your ability.”

Always Giving Back

Bahena says that philanthropy has been an important component of her life she has embraced for a long time—not just giving money, but also time and expertise.

“I stand on the shoulders of many who came before me to lay this foundation to be where I am today so I believe it’s my responsibility to help out,” she says. That’s why she donates her time to a number of different causes, such as education, where she has served on the board of a charter school; as well as working with nonprofits in a variety of areas, from a legal fund to community-oriented grassroots organizations focused on causes from women’s rights to climate change.

As the eldest daughter of Mexican immigrants, she believes her family set the stage for looking at different perspectives and viewpoints from a very young age. “My upbringing also helped me look at the future as being a glass that is half full, and seeing that empty half as an opportunity with room for me to fill it with more water.”

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Voice of Experience: Mariana Martinez, Family Dynamics Consultant for The Private Bank, a Wells Fargo business

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Mariana MartinezSponsorship has always played an important role in Mariana Martinez’s career.

“I have been guided and helped by other professionals who might have pushed me to my limits, but that just allowed me to expand those limits,” she says. “It’s hard to imagine a professional career without sponsorship, so I look forward to paying it back during this second part of my career through being an active sponsor myself.”

She also reminds women that there are multiple ways they can be successful in their careers and encourages them to keep going and experimenting to find what works for them.

Finding The Thread In Multiple Career Paths

Dr. Martinez has always found that to be the right way to approach her next professional endeavor. With a varied career path ranging from preschool teacher to psychologist to wealth advisor, one might not immediately see a tie. But for Dr. Martinez, the thread linking these various efforts is clear—they are all tied to being adept at understanding human behavior and how we think and make decisions, whether she’s working with a student, a parent or a client.

“Through working with people in all different circumstances, I definitely discovered the commonalities in realizing what binds us together and what makes us tick.”

This ability to focus on human behavior also points to the professional achievement she is most proud of—leading others to achieve their goals. At various times it has been students, other teachers or a family, and the goals might have been helping a marriage stay together after an affair or finding common ground among previously estranged siblings who were able to come together to help aging parents.

She sees her work with Wells Fargo’s Private Bank as a culmination of all her other experiences as she serves families and helps them navigate their relationships so they can achieve the goal of preserving not only their wealth but also their family unity.

Dr. Martinez finds her work to be particularly fascinating when she is on the cutting edge of incorporating non-traditional financial elements. “I get to help clients think through the options of their decisions beyond finances to consider the impact of these decisions on the family.”

Appreciating the Benefits as a Career Path for Women

Martinez has found that being a Family Dynamics consultant is deeply satisfying not only as a professional, but also as a woman. “I appreciate the firm’s focus on achievement, and the importance of our contribution.”

In addition she says that the profession allows her to incorporate other roles she has as a woman in a balanced way. “I don’t have to deny that I have a family or other responsibilities because the environment I’m currently in favors the ability to mix them successfully.”

In fact, she says that her role is particularly conducive to experiencing support. “I can speak about what’s going on in my life without being perceived as unprofessional and don’t have a fear of being judged. I believe that we are more successful when we can integrate multiple aspects of our lives holistically and not feel we have to hide certain parts to be respected as a professional.”

Martinez puts effort into maintaining connections with her family of origin back in Mexico, and while it requires an infusion of time and resources, it is a clear goal to go back as much as she can. In addition she adds that she works to be mindful about taking time for herself to read, pray and relax. “I find that I am rewarded when I am purposeful with my time.”

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Thought Leader: Ana Duarte McCarthy, Director of Development, Corporate Partners, Forté

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Ana Duarte McCarthy“I have plenty of runway left myself, but it is always still exciting to see how we can pass the baton,” says Ana Duarte McCarthy of her position helping inspire the next class of future leaders.
Finding a New Purpose

Throughout her career, Duarte McCarthy has focused on diversity and inclusion, most recently serving as a managing director and chief diversity officer for Citi. When she left in 2016, it was a good time to take stock of where her next opportunity could come from. First, she notes, she practiced the self-care we all deserve and took a couple months to travel, remained active on the board of the NJ Somerset County YMCA, and even purged closets and tackled all those small tasks that help us retain control over our personal life.

Then September rolled around, and that “back to school” feeling inspired her to figure out what was next. “I realized I felt untethered without a daily set of goals and objectives, and I missed having the opportunity to make a difference.”

A friend approached her about an opportunity to join Forté, which had been a long-time Citi partner and had a mission that appealed to her with its laser focus on increasing women in business leadership. Her other diversity work had covered a variety of communities, such as veterans, LGBQT+ and other cultural groups—all important. However, women had always been an aspect of these groups, and this gave her a chance to focus more deeply on women’s issues. That was a mission that was especially important to her, since as the mother of a daughter, she had a deep interest in assuring that her daughter had opportunities that had previously been obstacles.

Duarte McCarthy began in a fundraising role and has now moved into the position of director of development for corporate partners, where she works to identify companies that have a commitment to advancing women and express the values of diversity and inclusion. Often these forward-thinking companies are recruiting undergrads or MBA students and want to amplify their brand as a top recruiter for diversity. Having been a diversity lead for so many years, Duarte McCarthy has a special skill in talking with them about their pain points and how Forté can support them in their missions.

A Focus on Latinas

Assisting all women is important, but as a Latina herself of Dominican descent, Duarte McCarthy has a special heart for helping other Latinas. “I meet many women after conferences who might not have people in their immediate circles who can be a mentor so I try to reach out,” she says. And she believes it’s critical to break misperceptions about Hispanic women. “There’s a lot of bundling of Hispanic women together, but we cut across race and ethnicity, and there are also multiple diverse issues around socioeconomic scale and whether someone is a first- or fourth-generation student. It’s an interesting mosaic, and I believe I can support and advance the next generation of Latina women.”

One of the Forté programs she is particularly proud of is the Forté Forum, which enables women to explore the value of an MBA. They can hear from women currently enrolled in business schools and women who have completed their degrees, as well as get tips on completing the admissions process. Duarte McCarthy was particularly delighted when her 23-year-old daughter, a business analyst, came to one of the presentations to consider her future. “She’s always been supportive of me as a working mom, and it’s exciting to see her next chapter.”

More Work to Be Done

As Duarte McCarthy surveys the landscape, she points to an aspect of complacency and fatigue, as many like her have been pursuing the mantle of diversity and inclusion for so long, starting back when it was generally under the portfolio of affirmative action and/or equal employment opportunities.

Significant advances have been made, of course. For example, Forté was launched in 2001, on the heels of research on the value of an MBA for women, which comprised 25%-28% of the enrolled class, a number that has bumped up to 38% today. She is excited by this increase in women pursuing MBAs, as well as the varied career paths they choose to pursue, such as positions in supply chain management and investment banking as they truly take advantage of the breadth of careers available.

While that is heartening, she notes that there is more to be done; notably, that the pay gap persists. “This cultural aspect to pay people equitably needs a lot of attention,” Duarte McCarthy says. In addition, she says that while the drumbeat around MeToo has given people a voice, it’s unfortunate that is such a prevailing narrative in the workplace. “We have made so many strides, but our work is more important than ever.

“We have to keep up the energy because there’s still a lot of work to do,” she says. “We all have an opportunity to make a difference around D&I; it’s not for someone else—none of us can just be a bystander. We can all make a difference with how we lead and support our colleagues and those coming up the ranks.”

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Voice of Experience: Shana E. Ramirez, Partner, Katten

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Shana Ramirez“What makes you a good attorney is learning from your mistakes—almost that trial by fire aspect that lets you constantly grow,” says Katten’s Shana Ramirez.

Ramirez began her career in the finance area of law in New York after graduating from University of Michigan Law School. She moved to Los Angeles and worked with two firms before joining Katten as a partner in the commercial finance practice in 2018. Her experience covers a variety of financings and arrangements, including acquisition finance, leveraged finance, subordinated debt facilities, asset-based credit facilities, subscription facilities, investment grade credit facilities, transactions involving real estate and first lien/second lien transactions. Since joining Katten, she has established strong client relationships as she continues to build her practice, which she names among her most important achievements.

In addition to her work in the leveraged loan space, currently Ramirez’s work includes developing bespoke financial arrangements for private investment funds, which she has found to be challenging and interesting; as she says, it’s rewarding to work on something new in a world where most of the strategies have been done before. Specifically, she has seen exciting new trends and innovative solutions for creating leverage for private investment funds. “It will be interesting to see how private investment funds continue to find unique ways to leverage their portfolios,” she says.

Finding Balance as She Enters a New Chapter

As Ramirez points out, women often try to be the best at all their varied roles—mom, wife, caregiver or employee—and it can be hard to balance all that at any one time, given the competing demands. As she is due with her first child in early September, she has seen a lot of women go through this new life stage and knows how challenging it can be. “It takes effort to balance our desire to want to excel in all areas, including our personal lives.”

She encourages younger women to stay the course—even when it can be harder to see the path forward—especially if working in male-dominated industries. While it can be demanding and you might often feel pushed to your limits, she has found the pay-off is worth it if you stick with it rather than veering onto another path.

And she reminds women who have succeeded as attorneys to always be supportive of one another, the same way that they are the best advocates they can be for clients. She particularly appreciates when other young moms offer advice, and she is able to build a community around that commonality.

That’s why Ramirez encourages younger attorneys to foster relationships with other female attorneys and keep them strong. “You never know when your paths will cross again,” she says. “I would not be where I am without the relationships I have built,” she says, encouraging fellow attorneys to stay in touch even after they’ve left a particular firm or are no longer working together.

A Focus on Diversity and Inclusion Extends Outside Her Work Day

Ramirez is an active participant in Katten’s Women’s Leadership Forum, a women-focused group that hosts events designed to support female attorneys in their career development. “It’s a relatively smaller group, so it’s easy to get to know people better in this type of setting; as a new partner I felt very welcome,” she says, adding that they have been extremely supportive regarding her pregnancy and upcoming maternity leave.

As a diverse attorney, Ramirez has a strong history of pro bono service in Southern California, ranging from assisting domestic violence victims with U visa applications to helping families with adoption petitions. She has always felt a philanthropic tie and prioritizes giving back as a board member for Public Counsel, the largest pro bono firm in the country. Based in Los Angeles, the firm tackles issues of homelessness, adoption, consumer fraud, immigration matters and more working with its pro bono partners including Katten. “It’s important for me as a minority female partner to look out for others and the issues that are important to them.”

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Voice of Experience: Neddy Perez, Global Head of Diversity & Inclusion, Talent Management COE, McCormick & Company

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Neddy PerezWhile mentors are important, Neddy Perez also encourages women to seek sponsors.

“Mentors are great sounding boards and coaches on developmental areas; however when it comes to organizational advancement, the majority of research points to the need for women to have a sponsor. In particular, having a male sponsor accelerates the advancement of women, especially because they still hold the majority of executive level positions in corporations,” she says.

There are other factors that women need to take into consideration in managing their careers. “It is important to also think about any special assignments or projects you take on and ask, ‘where is this project leading me?’ Look for projects that are stretch assignments and that give you exposure to rising leaders or leaders who are well respected for their management capabilities.”

Pivoting to Find Her Passion

Perez started her journey as a public relations and communications professional. One of her early positions was working for UPS; at the time they were undergoing a work stoppage in Mexico and the vice president of HR decided to send her “because I spoke Spanish and people trusted me,” she says. In preparation, he covered some HR basics so she could report back properly, which was her introduction to the field.

Once she arrived she realized there had been a breakdown in policies, with the company banning religious artifacts in the environment, and the workers upset as it was an important religious holiday. She was able to satisfactorily broker a solution that allowed for religious accommodations, her boss started including her in more HR-related work and within a year she went back to school to pursue a master’s degree in international business and HR.

She was recruited by Shell Oil in Texas, where she initially supported its existing diversity function, and then ended up becoming manager of D&I for two of their businesses. She became known for her prowess in negotiating and improving difficult D&I issues, and subsequently worked with many large companies, such as Ingersoll Rand, KPMG and Sodexho. She has also done consultancy work with corporations that needed to reset their D&I strategies as a result of mergers and acquisitions or class action lawsuits and has coached companies starting new programs. She has also worked with many new Chief Diversity Officers entering the space for the first time who needed support on establishing a strategy or department.

Ultimately Perez left consulting to set up the diversity talent acquisition initiatives at TIAA, and today serves at McCormick & Company as global head of D&I. With facilities in 50 locations in 26 countries, they have a vision to double the organization, which she finds to be an exciting challenge at the forefront of finding the right diverse talent to support significant growth and creating a corporate culture that builds off existing core values but also can adapt to the changing trends of the marketplace.

Standing for STEM

In addition to a passion for D&I, Perez is focused on trying to advance STEM talent in the workplace. She first became involved while at Shell where they donated computers to communities around the world through an initiative that was ultimately recognized by the United Nations. She is also a founding member and thought leader for STEMConnector.org which has blossomed to become a stand-alone organization that connects corporations, nonprofits and colleges and universities with STEM talent.

“Getting more women into STEM and leadership is all about building pipelines for the future. We have so many jobs becoming available, but not enough of the right kind of talent to fulfill them,” she says.

And building pipelines is crucial. “One of the reasons women don’t advance more quickly is because they are not in operational roles where there is an opportunity to show a more direct impact on the business and generating revenue,” she says, adding that she might have pursued a degree in finance and accounting had she known the importance of being able to make a financial impact.

“Women are still socialized to put their heads down and work hard with the hope that someone will recognize your success. The reality is you have to become your own best advocate. As long as you feel comfortable with 70% of requirements of a job then go for it,” Perez says. “No one is ever 100% ready for their next job; we just have to get comfortable with asking for what we want and going for it.”

Perez has worked in five countries and is passionate about traveling so she has visited more 30 cities in the U.S. and around the globe. She loves photography and is passionate about mentoring the next generation of diversity leaders and women globally. In her time off, she is actively involved in serving on a number of boards for nonprofit organizations.

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Hispanic Heritage Month

This month we have celebrated Hispanic Heritage Month in the US. We have profiled senior Latina women and discussed how corporate America needs to shake up how boardrooms are filled.

Take a look at the following articles published during previous Hispanic Heritage celebrations.Latina

Latina Leadership: Will Companies Ever Catch On?

If you scan Fortune’s 50 Most Powerful Women in 2016, you will be hard-pressed to find a Latina executive, amidst an overall drop in female CEOs to 4% in the Fortune 500 in 2016.

According to a 2016 report from the American Association of University Women (AAUW), Hispanic women make up 6% of the workforce but only 1.3% of senior-level executive roles in the private sector.

 Hispanic Heritage: Latina Women are Ready to Lead. Are Companies Ready?

As we celebrate Hispanic Heritage Month 2015, Latina executives remain scarce in the corporate landscape. But ambition to lead, and ability to bring leadership advantages, are not scarce.

Walmart’s EVP and COO Debra Ruiz ranks 28 in Fortune’s current 50 Most Powerful Women in Business 2014 list. Latina Style celebrated ten executives in February, with Calline Sanchez, VP of IBM Enterprise, taking Corporate Executive of the Year 2014. Ana Dutra made history when she was appointed the first Latina president and CEO of the Executives’ Club of Chicago.

Hispanic Heritage Update: Where are the Latina Leaders in Corporate America?

Where are the Latina Leaders in financial services, in technology and in the Fortune 500 at large in the United States?

At first glance, it is easy to think they are almost entirely absent from the top echelons of business since only 35 women sit in the most senior executive management positions in the whole of the Fortune 1000. The 2012 Fortune 50 Most Powerful Women list includes only Gisele Ruiz, COO of Wal-Mart US.

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