Tag Archive for: Women’s History Month

Jill Ford: Co-head of Equity Capital Markets, Wells Fargo

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Jill Ford“The equity capital markets are unique in that they’re looking towards the future. The companies we’re raising capital for are disrupting the world, and giving us a glimpse of what’s next. I really enjoy that aspect of going into work every day,” says Jill Ford, Co-head of Equity Capital Markets at Wells Fargo. “No company’s the same, no day is the same, no transaction’s the same. In addition, you get to be around incredibly smart, strategic, visionary thinkers who are potentially going to change the world.”

Embracing Change No Matter How Established You Are in Your Career

With more than three decades of experience in investment banking, Ford is motivated by the ever-evolving landscape of the equity capital markets and the broad array of challenges and opportunities it presents. However, it took trying a few different jobs in the beginning of Ford’s career to discover that a role in equity capital markets was the right fit for her. She reflects that the twists and turns of this early stage were important in understanding, “what I enjoyed doing and what I didn’t enjoy doing, but also to see what I was actually good at and what I wasn’t particularly good at. Both of those things are hard to get a handle on until you’re in the workforce doing the job.”

Ford recently embarked on a new challenge in her career, leaving the firm where she started her career and where she had worked for two decades, to join Wells Fargo as co-head of Equity Capital Markets. Her decision highlights the importance of embracing change, no matter how established you are in your career. She acknowledges that there was a steep learning curve in getting acclimated to a new firm and job, not only in the sense of building a network of connections across another organization, but also in proving herself and establishing her value. Now that she has settled in, she is pleased to find that her instincts landed her in the right place.

“I’m thrilled to be a part of Wells Fargo…I’m starting to feel ingrained in the culture, particularly how team oriented it is. Everyone is eager to help me navigate the company and connect me to others. There is a wonderful momentum and energy throughout the organization.”

Success and Development as a Leader

As a leader in equity capital markets, Ford knows what it takes to rise through the ranks. Reflecting on what has contributed to her success, Ford points to having the discipline to put in the work and build relationships with clients over time by actively listening to their concerns and what’s important to them.

“Being willing to go the extra mile for a client, being willing to go the extra mile for a team, creates a certain amount of goodwill.” She adds, “I have a strong muscle for taking in what is important to different stakeholders, synthesizing how to best serve them, and giving them options that optimize that priority stack.”

Ford believes that being a good leader is about going outside your comfort zone. She shares the example of offering constructive criticism as a tool for helping others grow.

“Being willing to give constructive criticism to people, even if it feels uncomfortable, is a skill that I’ve had to acquire. Not just giving feedback once a year during reviews but giving it constantly. People will be able to move their careers forward much more quickly if they’re given not just the pats on the back, but true constructive criticism.”

She continues, “I mentor people that way as well, which is not just to say, ‘okay, let’s have a coffee and I’ll tell you how great you are,’ but ‘let’s have a coffee and discuss where you think you might fall short. Then I’ll tell you what I think or help connect you with people I know will give you a straight answer.’ There are ways to coach that feel good for everybody and there are ways to coach that might feel a bit outside your comfort zone, and you have to do both.”

Reflecting on the constructive feedback she received over the years, Ford benefited from it but also wishes she had received more, noting it was hard to come by earlier in her career when there were fewer women leaders around her.

“I feel like a lot of men shied away from having those difficult conversations with women or anyone who didn’t look like them. In the end, that stymies your goals and your opportunities to advance.”

As more women have risen to leadership positions over the years, Ford has seen a productive shift.

“The playing field now is a little bit more level – because men see us as equals, they’re more willing to have those tough conversations with us, which is refreshing.”

Learning from Other Women Leaders and Being the Model for the Next Generation

Given the history of underrepresentation of women in senior leadership positions in the financial industry, it’s no surprise that another significant element Ford attributes to her career development is having the guidance of other women leaders as role models.

“There must be mentorship and guidance, whether it’s formal or informal, or you’re not going to see the end game for your career. As a leader, I have to be that person for others. Seeing a woman or diverse colleague reach the upper rungs and manage groups is not only inspiring, it sends the message to others that you can make this happen too.”

Ford shares that her greatest inspiration came from a senior woman leader who not only exemplified effective leadership but also spoke about the importance of her family.

Ford continues: “She had an incredible ability to get what she needed to be successful at her job, both up and down the chain. She also was the one who debunked the notion that ‘you can only have one kid in finance’ because she had three. She told me how she made it work and gave me a lot of practical advice for having multiple kids. Then she went on to become the CFO of a multibillion-dollar company.”

Aware she will be that inspiration for others, Ford is pragmatic in her approach to balancing her career and motherhood, acknowledging the sacrifices involved in having a demanding career while giving her children the quality time they need.

“I don’t sugarcoat how hard it is, but I always let people know it gets easier. The more senior you get, the more you can delegate…Your job and being a mother are both full-time jobs and it’s impossible to have two full-time jobs, but you can outsource what you need to outsource. You can ask people to help you and you can put your foot on the accelerator and on the brake at different stages in your life and at different points in your kid’s life to make it all work.”

The advice she offers is: “Be a sponge, figure out how everyone’s unique situation is working for them and then take the best parts that might apply to your situation. Make sure you have support, whether it’s a spouse or parents or hiring babysitters, so that you can figure out how to get the job done with more than just you.”

Finding Joy Personally and Professionally

Now that her children are older, Ford feels the pull of the balancing act less. She has more time to dedicate to her passions, both professionally and personally.

From a personal standpoint, Ford finds joy in downhill skiing and calls it one of her “secret weapons” for staying close to her children as it brings the family together outside in nature. She is an avid foodie and delights in a good taco truck as much as a Michelin starred restaurant, both of which are easy to find near her homebase of New York City. In her spare time, you might find Ford pouring over an interior design magazine, exploring her interest in innovative design concepts.

Professionally, Ford is excited for the what the future holds in leading the Equity Capital Markets business at Wells Fargo.

“I want to continue to be a part of companies that are transforming the world for good. There are many small companies that have great ideas and investors who want to put money to work in those types of endeavors. I relish being a part of linking these two worlds to move the ball forward and effect change.”

By Jessica Robaire

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Susan Nickey: Executive Vice President and Chief Client Officer of HASI

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Susan NickeySusan Nickey, Executive Vice President and Chief Client Officer of leading climate investor HASI, is an agent for change. In her career, she’s learned that engaging directly but respectfully with detractors and designing fair, innovative solutions can lead to positive outcomes for both naysayers and pioneers.

“When you’re trying to come up with a solution or break down a wall, it isn’t simply saying, ‘it needs to happen.’ You have to spend a lot of time thinking about creative solutions to make it work for an incumbent who might say ‘no, I don’t want that’, or ‘I’m not going to do that.’ It’s how you listen to both sides of an argument and come up with a creative solution. Thoughtfully parsed risk allocation, for example, can enable both parties to move forward in a way that they both deem is balanced and fair for them.”

Nickey cites the clean energy industry itself as a perfect example of how creating innovative change can bring significant, positive impacts. “I have spent my whole career in the clean energy industry, becoming passionate about the cause of making the environment cleaner. Working with people who share my passion only makes what I do more fulfilling. Every day, I wake up with the thought that I have an opportunity to make a difference.”

Finding Her Way to Making a Difference

From an early age, Nickey knew she wanted to make a difference. She recalls in elementary school her mother lecturing her that it was her obligation to “make the world a better place,” observing she was naturally talented. Although Nickey initially considered a career in medicine, her focus and interests migrated to pursue a career in global finance as a path to tackling “big international problems.” But it wasn’t until she met a business client of her father’s, a Swiss banker, who advised her to set a path forward and commit to it, that she started to set herself on a dedicated path to achieve her goals.

With a strong, early focus on languages and math, Nickey entered the University of Notre Dame, majoring in Finance and studying abroad for a year in France. She completed her formal education with a master’s degree from the Foreign Service School at Georgetown in International Business Diplomacy. After taking a position at ABN AMRO Bank and being accepted to join their first non-Dutch expat program, she was on the road to fulfilling her early dreams of a career in international finance. But an unexpected opportunity within ABN AMRO arose that changed her trajectory when she was offered the chance to join the Bank’s first energy-focused project finance group. Nickey remembers her boss at the time telling her that she should grab the opportunity to work in the U.S. power industry, foreseeing it would become a “game-changer.”

“I was assigned to lead alternative energy. I ended up being at the brink of the industry before ‘renewable’ was a common industry term and before wind or solar were even on the landscape – but we were on the cusp of what we now call the ‘renewable energy industry.’ Looking back at my early discussion with that Swiss banker, I frequently give that same advice to other people making career decisions. Namely, it’s important to set a course, to be on a path, and to show that you’re driven and that you know how to get places. But adding from my own experience, I also emphasize being open to pivoting along the way – to consider new opportunities that arise – and if it’s the right one, grab it. You never know where it will take you! And if you’re like me, the framing you developed in your early days will stay relevant in your new career chapter and can still bring you to where you set out to go originally on a different route.”

Since that pivotal decision to move to the alternative energy sector in 1988, Nickey has continued to build her career, earning several accolades and recognitions along the way. Among these awards are Tamarindo’s Wind Power List (2023), A Word About Wind’s (AWAW) North American Power List (2018-2022), AWAW’s Women’s Power List (2021), Environment+Energy Top 100 (2021), and The Cleanie Awards Woman of the Year (2020). Nickey also currently serves as chair of the board of the American Clean Power Association.

Becoming a Leader in the Clean Energy Industry

Being at the forefront of a new industry allowed Nickey to flex her creativity to develop solutions to the challenge of getting people on board with investing in new energy sources, which in the early days seemed cost prohibitive.

“I remember the early days when the consensus was that wind and solar would never be more than ‘alternative’ – and would only amount to 1% or 2% of our total energy mix because they were unaffordable. It was important to stand back and say, ‘how do we make it more affordable?’ And the solution was not just improving technology, but also driving innovation in financing structures and lowering the cost of capital for an energy industry with high upfront capital costs but harnesses an energy source which is free. If you believe like I do that we need renewable energy, that we need cleaner energy, we have to keep finding innovative solutions. Saying ‘No, this can’t work’ was not then and still is not an option for me.”

Learning to Work with Opposition

Nickey notes that she has been surprised by how you can change people’s approach or their entrenchment in an old model. Breakthroughs arrive by not only being persistent, but also by listening closely and mindfully, maintaining a rational mindset, and “meeting people where they are.”

“When you keep pushing forward and creating allies along the way and are not afraid to engage with detractors or people putting up walls, you can get great things done. I’ve been pleasantly surprised when the person I thought was an immovable opponent to something all of a sudden comes back and says, ‘Hey, it wasn’t about you. I’m really glad we got this done.’” She continues, “Everyone’s human and worthy of respect. If you can understand and acknowledge where they’re coming from – and find those points of common ground – great things can get done.”

Nickey credits her approach in part to her early master’s training at Georgetown. At the time, the program was led by Madeleine Albright and diplomats including Henry Kissinger would come to lecture. Learning from two great Secretaries of State, and other people during this time, the skills of the “art” of negotiation and diplomacy shaped her approach toward constructively dealing with opposition.

“You may not agree with everything but try to find a common ground and create some trust – establish a personal bond. With that, from my experience, I’ve solved and negotiated through my most intractable, unwieldy, and thorny situations.”

The Value of Mentors and Growing a Network

In her own life, Nickey prizes continued openness to learning and getting feedback from others. In talking about the value of mentorship, she notes that the gift of a true mentor is not only someone who gives good advice but also is willing to observe you closely, to see and to identify where there may be gaps. Nickey believes it is important to find people in one’s life who are willing to give candid feedback about strengths and weaknesses and are comfortable talking about personal opportunities for development.

“By yourself, it’s very difficult to see the whole picture of your life – how you come across to others in your business life, in your personal life. And looking back, the best mentors in my life were the ones that pushed me the hardest – the ones who prompted me to understand myself, then take my game to the next level. For me, that was the best career help I ever received.”

Going beyond individual mentorship, Nickey emphasizes the importance of leveraging a network of mentors, particularly as a woman, in energy or finance. “People get ahead or get in the door because they have mentors, sponsors, and networks. You still have to walk through that door each day and deliver yourself – being devoted to building a real network will prove invaluable to opening doors and creating opportunities. And now, where I am in my career, I’m surrounded by successful women at all levels. I have the opportunity to leverage that network and develop it to be even stronger than it has ever been.”

Collaboration is Key

Collaboration has been a key component of Nickey’s leadership approach, and it features strongly in her advice for women who are mid-career in their leadership journey.

“Respect everyone who is in the room with you. You have been asked to work on a multi-level team, be mindful not just of ‘the boss’, everyone in the room has ideas to bring and value to contribute. By listening to everyone, and respectfully communicating to everyone horizontally, not in silos, you will bring people together to drive forward whatever project or whatever collaboration you’re working on. Work to ensure everyone is engaged in a successful outcome.”

Nickey loves competitive sailing. She grew up sailing and racing and enjoys the opportunity to get back into competitive sailing now that she lives in an area on the water in Maryland.

“It’s very much a collaboration: learning how to speak to each other clearly and efficiently, being close enough to know what the other person is going to do, having a basis of trust that everyone’s going to do their part, and that if something starts going wrong, being confident to know how to pitch in and that the team will all come together. I realize I not only like sailing and racing because it is beautiful to be out on the water, but it is also very much a tactical intellectual sport to navigate the wind, the weather, and the waves. Best of all, it also reminds of the beauty of teamwork.”

By: Jessica Robaire

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Women’s History Month 2020: Stories We Tell Ourselves.

Nicki GilmourAfter the celebrations and social media posts for international women’s day 2020, we are left with the real work. Gender progress when it comes to women at work and as leaders has stalled. This was first noted in 2018 by McKinsey and Lean in study and The World Economic Forum predicted timeline of two hundred and two years for gender equity overall and specifically ninety nine years in the UK. The USA is not in the top ten for gender equality it should be noted, and American women are not equal under law as American men as the Equal Rights Amendment was never ratified.

So, What is Really Holding Women Back?

In the April 2020 edition of HBR, Robin Ely and Irene Padevic pose and answer the eternal question of “What’s really holding women back?” In their specific case study, they conclude that a crushing long hours game was actually causing dissatisfaction for everyone, but disproportionately affecting women because they singularly were expected to take accommodations which ended up being career damaging actions sometimes. The researchers state,

“Social defense systems are insidious. They divert attention from a core anxiety-provoking problem by introducing a less-anxiety-provoking one that can serve as a substitute focus.”

Ely and Padevic studied a firm where the core problem discovered by them (impossibly long work hours) was not what the firm’s espoused challenge focus which was the ‘inability to promote and retain women’ creating a substitute problem to avoid the real one. The researchers concluded that by using family accommodations or flex work as the solution to the “substitute problem”, an invisible and self-reinforcing social-defense system was created with the result of covering inefficient work practices “in the rhetoric of necessity” while perpetuating gender disparities since only women were truly culturally expected to take advantage of the accommodations.

In my opinion, without knowing the name of the client that these revered psychologists conducted this work at, this is the type of firm that probably charges other firms five million dollars per consulting project to tell them how to work more efficiently but entirely misses the point on the social psychology and how behaviors are formed for humans, both in their own firm and the firms they are busy also creating substitute problems for regarding “diversity” and people. I mean isn’t it hypocritical of big consulting firms and banks to write studies about gender progress when they themselves are so far from getting their own house in order? People notice, eventually or seemingly they don’t notice or choose to ignore it?

Behaviors and Diversity – we tell ourselves what is what (falsely)

A new UN study on “Tackling Social Gender Norms” reports that 50% of the humans in the world still think men make better leaders and in some countries, 70% of people believe men deserve a job more than women do and overall on all factors over 90% of people have bias against women or bias in favor of men if you want to look it at that way. This study importantly and perhaps uniquely measures gender inequality from a social norm perspective and how this is operationalized through beliefs, attitudes and practices most notable the prescribing social roles and power relations between men and women in society that are shockingly defined in western developed countries like the USA over southern European countries like Spain who literally invested the word “machista”. This methodology is super important as the diversity panels and parties that have focused for the past twenty years on “awareness” just aren’t converting behaviors in anyone, women included to ones that make people vote in female leaders in government or at work. Equality begins and ends with equitable behaviors and systems thinking to reduce or destroy the legacy processes and this is just absent in the design of work and the workplace. 

Robin Ely along with Herminia Ibarra and Deborah Kolb are also among my favorite academics on this topic and in many ways nothing can best explain the seemingly large and continued demand for white male leaders than their 2013 piece Women Rising: the unseen barriers which states that women are basically expected to turn into men as those traits are still the ‘mold’. Yet face the double bind when they try to gain experience that would let them internalize the identity and affirmation of a leader that is needed and given to the legacy group of who we believed to be leaderlike.

As the 2013 piece suggests, it is the absence of recognizing bias which is now second generation and covert harder to spot bias that leaves people with beliefs that limit the progress of women and as the Barriers Unseen study reveals,

“People are left with stereotypes to explain why women as a group have failed to achieve parity with men: If they can’t reach the top, it is because they “don’t ask,” are “too nice,” or simply “opt out.” These messages tell women who have managed to succeed that they are exceptions and women who have experienced setbacks that it is their own fault for failing to be sufficiently aggressive or committed to the job.”

This past week we have had an applied case study on who we endorse for as a leader with Elizabeth Warren and Amy Klobuchar both folding their campaigns while being criticized for being too shrill and strident and then too nasty respectively. Meanwhile, two ancient white men battle to face off with another ancient incumbent white guy in the other team come November. Some women are licking their wounds on Facebook over Warren it seems in particular, but we know when women and people of color call out gender inequality, the cost of this can be actually  emotionally high as well as career damaging. 

Are we getting anywhere?

Over twenty years ago, Robin Ely co-wrote with David A. Thomas a piece in HBR called “Making Differences Matter: A New paradigm for diversity” that suggested then that we get past the “fairness (and discrimination)” paradigm or simply put the business case of “it’s the right thing to do”. Ely and her co-author also suggested that the next paradigm in 1998 was only the penultimate one and that this second phase was witnessed when companies believed in appointing women to sell to women, and LGBT just sell to LGBT and minorities to sell to minorities with invisible limitations of side show type exclusion from the main attraction. The emerging paradigm from twenty-two years ago is I guess, is still sadly only slowly emerging and that is the learning-and-effectiveness paradigm which requires real work to get to the structural change that is needed. They write,

“Companies in which the third paradigm is emerging have leaders and managers who take responsibility for removing the barriers that block employees from using the full range of their competencies, cultural or otherwise. Racism, homophobia, sexism, and sexual harassment are the most obvious forms of dominance that decrease individual and organizational effectiveness—and third-paradigm leaders have zero tolerance for them. In addition, the leaders are aware that organizations can create their own unique patterns of dominance and subordination based on the presumed superiority and entitlement of some groups over others.”

We are in 2020 still hiding behind our deeply ingrained beliefs that women aren’t as leaderlike and that babies are the reason we are not promoted in the same numbers or authorized in the same way as our male counterparts are. Yet, childless women do not get promoted or authorized any more than women with kids do as they are hit by the same stereotype which is easier than addressing the real issues for all women and all humans, which is work simply isnt working for most people anymore without one person taking a back seat and due to pay inequity, it is usually the woman if we are speaking heteronormatively in the structure.

Women can be great, smart, experienced, and full of solid plans and still be dinged with a negative stereotype even when like the Elizabeth and Bernie situation are the saying the same thing. While the positive stereotype of great leader, competent, full of potential is still attributed to the male version of themselves or a much lesser version of themselves.

The stories we tell ourselves about the way it is, or what is better have been whispered in our ear by our grandmother, our parents and our surrounding society and are reinforced everyday of our lives. These stories are placed both subliminally and explicitly and create our beliefs and criteria and our behaviors. The stories that we tell ourselves that time will fix inequality are not true. The only thing that will stop this within our lifetime or even our children’s lifetime is to do the work regarding our deepest constructs of “what boys are and what girls are” while addressing the systems that enable and endow advantage and create disadvantage for no other reason than biology.

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Women’s History Month Offers an Opportunity to Reflect on the Importance of Women Leaders

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Laura MartinBy Laura Keidan Martin, National Chair of Katten Muchin Rosenman’s Women’s Leadership Forum and member of the firm’s Board of Directors and Executive Committee

In honor of Women’s History Month, it’s important we take the time to celebrate our accomplishments and the progress we have made as working women but also to reflect on the work that lies ahead so women in all professions, particularly in the legal field and others that are traditionally male dominated, can achieve gender parity and equity – especially at the leadership and partnership levels.

At Katten, women attorneys are making a mark. Women are represented at every leadership level from practice head and office managing partner to the board of directors and the executive committee, which oversees all governance activities and sets policies for the firm.

This year, not only are Katten’s female attorneys garnering accolades for their hard work and many achievements, but the firm has also been recognized for its efforts to support the career advancement of women and improve diversity and inclusion in the workplace. Katten secured spots on the 2018 lists of Working Mother’s 100 Best Companies and 60 Best Law Firms for Women, as well as Yale Law Women’s Top Ten Female Friendly Firms. Katten also achieved Gold Standard certification from the Women in Law Empowerment Forum and is among National Association for Female Executives’ Top Companies for Executive Women.

But make no mistake: there are still more gains to be made as the number of women attorneys advancing to higher levels is sluggish among law firms in general. And the rate of female minorities ascending to positions of power has lagged even farther behind in the legal profession.

As National Chair of Katten’s Women’s Leadership Forum and a member of the firm’s Board of Directors and Executive Committee, I have a personal commitment to advancing and retaining women attorneys through mentoring, external networking, internal relationship-building and career development programs. We want to see women rise to the top at Katten. That’s why as leaders we aim to do more and to do better by offering firm programs and policies to help women climb the career ladder and develop the skills they need to advance to leadership roles.

Women leaders are integral to the success of empowering all women at all stages of their careers. And that’s why Katten’s female leaders are so vested in the development and implementation of programs and policies that help women reach their professional goals. We believe that women’s upfront involvement is critical to getting these initiatives right and vital to our success.

Our women leaders also serve on the firm’s National Mentoring Panel, which is made up of 17 successful female partners recognized as leaders in their fields. These women serve as role models and share their professional and personal experiences as a means of helping their colleagues. But the objective is to be more than just a mentor. Fellow board member Nadira Clarke likes to remind us, “Women leaders can impact how women get business, how they are compensated, whether or not their work is recognized, or whether or not they get promoted.”

Katten leaders continue to work hard to identify the next generation of female leaders at the firm and provide the tools they need to succeed, including diversity-focused initiatives, in which female attorneys of color participate. Such programs can assist in building leadership skills, developing client relationships and generating substantial books of business, which can go a long way toward a greater likelihood of career advancement – and it’s simply good business sense for the firm as well.

Katten is also committed to dedicating resources to set women on successful career paths. We want to empower our female attorneys at various stages in their careers so they see an attainable, upward trajectory at Katten.

And most importantly, we know we can’t achieve greater gender-balance alone. That’s why we collaborate with organizations at the forefront of generating innovative ideas and solutions that will assist us with improving the retention and promotion of our female attorneys. By working together we learn from each other’s best practices so that we can continue to create positive change.

That’s why we teamed with Diversity Lab’s Women in Law Hackathon, which brings together law firms across the nation to create solutions to boost the retention and advancement of women in law, and pledged our commitment to the CEO Action for Diversity & Inclusion initiative, dedicated to advancing diversity and inclusion within the workplace.

That’s why we signed on to the Mansfield Rule initiative (a winning idea from the 2016 Hackathon). It was a major milestone when Katten achieved certification for meeting Mansfield Rule standards by ensuring that women and attorneys of color make up at least 30 percent of the candidate pool for firm leadership and governance roles, equity partner promotions and senior lateral positions. This year we are also participating in the Mansfield Rule 2.0 which expands our agreement to be even more mindful of diversity by tracking roles in client pitch meetings, including LGBTQ+ lawyers as part of the diverse candidate pool, and making sure that appointment and election processes are transparent to all lawyers.

All of these efforts combine to help push male-dominated industries to focus on creating diverse teams and to snuff out bias, whether intentional or unintentional. They help put more women in the room and at the table when key business decisions, promotions, or job offers are being made. They help transform what leadership looks like today and what it should look like tomorrow. They help encourage the next generation of women to pursue careers in these fields because they see more and more women represented in the industry.

This Women’s History Month, let’s celebrate the affirmative impact of women in the legal profession and renew our commitment to diversity, innovation and greater gender-balance in the workplace. We all have a role to play, to lean in, lead the way and be the change agents. Our careers, businesses and society will be stronger for it.

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Celebrating Entrepreneurs and Equality: How Did You Recognize International Women’s Day?

celebrating entrepreneurs and equality
In honor of International Women’s Day and Women’s History Month, the actions of women entrepreneurs and leaders are being recognized by governments, businesses and society more broadly throughout March.

First recognized in 1908 by 15,000 women who marched on New York City, calling for improved working conditions and the right to vote, International Women’s Day is now celebrated globally each year on March 8. This year, International Women’s Day is focused on the theme of #BalanceforBetter with the aim of achieving a gender-balanced world.

Some of the fantastic International Women’s Day events that were held by government-related and cultural-affiliated entities in 2019 included:

  • New York: The sixty-third session of the Commission on the Status of Women will take place at the United Nations headquarters from March 11 – 22. The event will convene individuals from UN entities and non-governmental organizations to discuss women’s empowerment initiatives.
  • Washington, DC: The US Chamber of Commerce Foundation and the US Department of State hosted The Equality Opportunity, which on March 6 – 7 brought together stakeholders from business, government and civil society to discuss ways to further gender equality.
  • London: The Museum of London displayed a special “Votes for Women” exhibit, featuring pieces from the museum’s suffragette collection.

Corporations are also recognizing the importance of a gender diverse workforce by hosting events in recognition of both International Women’s Day and Women’s History Month. View the full list of nearly 600 events listed on the official International Women’s Day website.

Businesses have a crucial role in recognizing the importance of a gender diverse workforce. Goldman Sachs is one of them. The firm has long been a leader in research that sheds light on the important role and untapped potential of women in the global economy.

Insights Driven by Data

Consider this: women make up about 40% of all employees at S&P 1500 companies, but just 6% of CEOs. And across the U.S. economy, women are paid about 20% less than men.

In Closing the gender gaps: Advancing women in corporate America, the Goldman Sachs Global Markets Institute looks at possible explanations behind these gaps. These include frictions between home and work; the double-edged sword of “family-friendly” policies; gender-specific expectations about appropriate behavior, norms of leadership and definitions of success; the allocation of commercial opportunities; and bias, whether conscious or unconscious. The report offers strategies that firms can use to help level the playing field, such as helping women re-enter the workforce or “upshift” their careers, carefully reviewing compensation and promotion practices, and adding women to companies’ boards.

Taking Action

Goldman Sachs has extended its commitment to female economic empowerment through two flagship platforms – 10,000 Women, an ongoing initiative to foster economic growth by providing women entrepreneurs around the world with a business education and access to capital, reaching women from over 50 countries globally; and Launch With GS, Goldman Sachs’ commitment to invest $500 million in women-led companies and investment managers, as well as to build a global network of business leaders to facilitate connections, share ideas, and uncover opportunities. Additionally, the firm has been focused on its internal efforts supporting opportunity at all levels.

Collectively, Goldman Sachs has four key initiatives that are focused on women’s empowerment – academic, philanthropic, commercial and cultural pillars – called When Women Lead. This is driven by the idea that when women lead, everything changes.

The Role of Philanthropy

One of the initiatives that GS recently launched is the “Portraits” campaign – instead of the traditional CEO oil painting in a gilded gold frame, the campaign makes the portrait subjects graduates of the 10,000 Women program, Goldman Sachs’ global initiative that fosters economic growth by providing women entrepreneurs around the world with a business and management education, mentoring and networking, and access to capital. The portraits are accompanied by the name plaque “CEO.”

An accompanying video brought to life one 10,000 Women scholar’s story, Ayo Megbope, as her CEO portrait is unveiled and brings to life her role as an entrepreneur. Filmed in Ayo’s hometown of Lagos, Nigeria, the video juxtaposes her story against the arrival of her CEO portrait to hang on the wall of her business.

Looking Ahead

As we reflect upon this year’s International Women’s Day, the advancement of women in the workplace – and more broadly the state of diversity in the corporate world – is top of mind. While some progress has been made, there is still ample room for further improvement.

To that end, Goldman Sachs is committed to having women represent 50 percent of the firm’s global talent over time, and as an initial step, is working toward ensuring women make up 50 percent of the firm’s incoming analyst class by 2021. We continue to work toward these goals.

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What We Can Learn from Powerful Women, Past and Present

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diverse-women-across-the-globeMarch is Women’s History Month, which gives us even more of a reason to recognize powerful women, both past and present, who continually inspire us to move forward. Regions, a bank that features a Women and Wealth initiative to educate, equip and empower women, is celebrating Women’s History Month by honoring the contributions of women who have made a difference in countless facets of life.

From media entrepreneurs to leaders impacting their own communities, we can learn from these women’s successes and apply their knowledge to improve our own careers and lives. Here are some key examples of inspirational leaders and their advice for reaching – and exceeding – your goals:

Develop Your Leadership Skills with a Mentor

As the president and CEO of Big Brothers Big Sisters of America, Pam Iorio is a shining example of women leaders who are making a difference in their own communities and beyond. Her gift for leadership shows not only through her work with Big Brothers Big Sisters, but also in her past career as Mayor of the City of Tampa and her tenure as leader-in-residence at the John H. Sykes College of Business at the University of Tampa. The author of Straightforward: Ways to Live and Lead, Iorio delivers a strong message about the importance of developing leadership skills. Her message: Learn to lead yourself well so you can, in turn, lead others.

Regions Bank commends Iorio’s work to change communities across America through the power of mentoring and recognizes that career-oriented women can grow and learn from this inspiration. One way women can develop their own leadership skills is by cultivating a relationship with a female mentor

Define Your Personal Brand

Wendy Lane Stevens, the founder and president of national public relations firm LANE, advises women to spend time developing a personal brand that reflects your core beliefs. Every day and in nearly every situation – board meetings, conversation with clients, coffee with girlfriends – your personal brand is on display through your actions, words and decisions. It’s never too late to create a personal brand or modify your current one. Stevens suggests these steps:

Brainstorm and write down 30 to 40 words that describe who you are and the traits you like about yourself or want to improve. After thoughtful consideration, narrow the list to about six words.
Compare your descriptions to the words that three of your role models would use to describe themselves. Use this as a gauge to refine your list.

Ask a family member or close friend to review your words. Are they aspirational and achievable? “You want these words to be authentic and transparent, so you want honest feedback,” Stevens says.

Use the words to develop an elevator speech that describes who you are and what you believe – this becomes your personal motto. Keep it near you – like on your computer or on your phone so you’re constantly reminded of your core values or brand.

Every several months, grade yourself on how you’ve integrated your values and brand into your life.

No matter what your profession, you can glean valuable insights from smart, successful women all around you, including all of the powerful females Regions Bank is recognizing this March. If you’re interested more career insights and guidance for women in the workforce, Regions has shared with us some additional resources:

For Entry-Level Women – Learn How To Budget After Landing Your First Job. When you’re starting your first job, it can be difficult to learn how to budget your money. Regions shares four tips to help you separate your wants from your needs and set yourself up for financial success.

For Female Business Owners – Learn About, and Leverage, the Resources Available to Women and Minorities in Business. The government helps foster growth for women and minority business owners in part by offering tax breaks to companies that work with these businesses. Make sure you thoroughly understand these programs, and take the steps necessary to qualify for them.

For Moms in the Workforce – Balancing Career and Home. When it comes to work/life balance, find the right fit for you rather than an equal balance.

This article was sponsored by Regions Private Wealth Management.

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