KazPost

Kazakhstan News
Thursday, Mar 28, 2024

The women inspiring others in a male-dominated industry

The women inspiring others in a male-dominated industry

As the founder of UK challenger bank Starling, Anne Boden wanted to prove people wrong.

"Women have to achieve more, work harder and be much more perfect to get the job compared to a man," she tells the BBC.

Ms Boden is also chief executive at Starling, which has grown rapidly and is now the subject of takeover talk.

"The experience of being treated differently because I am female only inspires me to work harder and prove them wrong, which is in part why I founded Starling," she adds.

The banking and finance industries have traditionally been male-dominated although this is beginning to change.

In September, US banking giant Citigroup named Jane Fraser as its next chief executive, making the Briton the first female boss of a Wall Street bank.

The rise of digital banks and financial technology (fintech) start-ups is also ushering in more opportunities for women to become leaders.

But there are still plenty of challenges in rising to the top in the banking world.

"Seeking funding in Silicon Valley was particularly tough. It felt as though a lot of investors were only interested in backing white men in gilets which fit the start-up stereotype," Ms Boden says.

New breed


The financial sector is working to improve diversity at the leadership level and on boards of directors, but some feel the pace has been too slow.

"There's a long way to go to rectify the gender imbalance, so it's important for women like me in leadership positions to speak up," says Ms Boden.

"I wanted to be the first woman to start a British bank, not only because I could see how much better my bank could be but also to inspire others and lead the way in what is traditionally a male-dominated industry."

She is not alone as a role model to other women joining the industry.

Yoko Makiguchi is now chief executive of the Japanese operations of Revolut, the UK-based online bank.


Revolut's Yoko Makiguchi says digital banks are more open-minded


She previously worked at a handful of investment banks including Goldman Sachs, Credit Suisse, UBS, Milhous Securities and the now-defunct Lehman Brothers, but was never given the most senior role.

'Superwoman' syndrome


Having started her career 27 years ago, she finally reached the top at Revolut in Japan. "It was never going to happen at the other banks," she says.

Juggling a career and childcare duties sometimes creates a "superwoman syndrome", Ms Makiguchi says.

"The more senior you get, I think the higher the standards you hold yourself to. You want to be the perfect wife, mum and employee. We have so few role models to help us that we begin to stretch ourselves and enter into survival mode."

Having worked at traditional banks and now at a digital bank, she can see the difference in culture and opportunities available to women.

"[Digital banks] are more open-minded and offer flexible hours and remote working. As a result we have a high number of females in decision-making roles."

'I cannot fail'


Serra Wei is the chief executive of Singapore-based fintech firm Aegis Custody and says she still gets "judged by my gender and age rather than my capabilities and achievements".

"With the public's high standards of evaluating female leaders' performance, it feels like I cannot fail or make any mistake as one misstep may attract endless criticisms," she says.

Ms Wei is a big admirer of Safra Catz, the billionaire and chief executive of US tech giant Oracle, having been taught by her when she studied for her MBA at Stanford Business School.

One lesson she has learned is not to see it as a battle between the sexes.

"In this day and age, collaboration is more important than competition," she says.

Pandemic setback


Last month, the Mastercard Index of Women Entrepreneurs 2020 report warned of the disproportionate effect the Covid-19 pandemic would have on women and the drive for more diversity in leadership.

The Fawcett Society has also warned of the pandemic's "devastating" impact on gender equality in the workplace.

While the charity said there were "signs of hope", it highlighted that women are more likely than men to lose work or be burdened with childcare in the crisis.

However, experts point to the female world leaders who have presided over some of the most successful efforts in containing Covid-19 as an inspiration to other women.

These include New Zealand Prime Minister Jacinda Ardern, German Chancellor Angela Merkel and Tawian's President Tsai Ing-Wen.


How do we get more female leaders?


Newsletter

Related Articles

KazPost
0:00
0:00
Close
It's always the people with the dirty hands pointing their fingers
Paper straws found to contain long-lasting and potentially toxic chemicals - study
FTX's Bankman-Fried headed for jail after judge revokes bail
Blackrock gets half a trillion dollar deal to rebuild Ukraine
America's First New Nuclear Reactor in Nearly Seven Years Begins Operations
Southeast Asia moves closer to economic unity with new regional payments system
Today Hunter Biden’s best friend and business associate, Devon Archer, testified that Joe Biden met in Georgetown with Russian Moscow Mayor's Wife Yelena Baturina who later paid Hunter Biden $3.5 million in so called “consulting fees”
Singapore Carries Out First Execution of a Woman in Two Decades Amid Capital Punishment Debate
Google testing journalism AI. We are doing it already 2 years, and without Google biased propoganda and manipulated censorship
Unlike illegal imigrants coming by boats - US Citizens Will Need Visa To Travel To Europe in 2024
Musk announces Twitter name and logo change to X.com
The future of sports
Unveiling the Black Hole: The Mysterious Fate of EU's Aid to Ukraine
Farewell to a Music Titan: Tony Bennett, Renowned Jazz and Pop Vocalist, Passes Away at 96
Alarming Behavior Among Florida's Sharks Raises Concerns Over Possible Cocaine Exposure
Transgender Exclusion in Miss Italy Stirs Controversy Amidst Changing Global Beauty Pageant Landscape
TikTok Takes On Spotify And Apple, Launches Own Music Service
Global Trend: Using Anti-Fake News Laws as Censorship Tools - A Deep Dive into Tunisia's Scenario
Arresting Putin During South African Visit Would Equate to War Declaration, Asserts President Ramaphosa
Hacktivist Collective Anonymous Launches 'Project Disclosure' to Unearth Information on UFOs and ETIs
Typo sends millions of US military emails to Russian ally Mali
Server Arrested For Theft After Refusing To Pay A Table's $100 Restaurant Bill When They Dined & Dashed
The Changing Face of Europe: How Mass Migration is Reshaping the Political Landscape
China Urges EU to Clarify Strategic Partnership Amid Trade Tensions
Europe is boiling: Extreme Weather Conditions Prevail Across the Continent
The Last Pour: Anchor Brewing, America's Pioneer Craft Brewer, Closes After 127 Years
Democracy not: EU's Digital Commissioner Considers Shutting Down Social Media Platforms Amid Social Unrest
Sarah Silverman and Renowned Authors Lodge Copyright Infringement Case Against OpenAI and Meta
Why Do Tech Executives Support Kennedy Jr.?
The New York Times Announces Closure of its Sports Section in Favor of The Athletic
BBC Anchor Huw Edwards Hospitalized Amid Child Sex Abuse Allegations, Family Confirms
Florida Attorney General requests Meta CEO's testimony on company's platforms' alleged facilitation of illicit activities
The Distorted Mirror of actual approval ratings: Examining the True Threat to Democracy Beyond the Persona of Putin
40,000 child slaves in Congo are forced to work in cobalt mines so we can drive electric cars.
Historic Moment: Edgars Rinkevics, EU's First Openly Gay Head of State, Takes Office as Latvia's President
An Ominous Shift in Warfare: Western Powers Risk War Crimes and Violate International Norms with Cluster Bomb Supply to Ukraine
Bye bye democracy, human rights, freedom: French Cops Can Now Secretly Activate Phone Cameras, Microphones And GPS To Spy On Citizens
The Poor Man With Money, Mark Zuckerberg, Unveils Twitter Replica with Heavy-Handed Censorship: A New Low in Innovation?
The Double-Edged Sword of AI: AI is linked to layoffs in industry that created it
US Sanctions on China's Chip Industry Backfire, Prompting Self-Inflicted Blowback
Meta Copy Twitter with New App, Threads
The New French Revolution
BlackRock Bitcoin ETF Application Refiled, Naming Coinbase as ‘Surveillance-Sharing’ Partner
Corruption in the European Parliament - Business as usual
UK Crypto and Stablecoin Regulations Become Law as Royal Assent is Granted
Paris Suburb Grapples with Violence as Curfew Imposed: Saint-Denis Residents Express Dismay and Anger
A Delaware city wants to let businesses vote in its elections
Alef Aeronautics Achieves Historic Milestone with Flight Certification for World's First Flying Car
Google Blocked Access to Canadian News in Response to New Legislation
French Politicians Advocate for Pan-European Regulation on Social Media Influencers
×