Budapest Post

Cum Deo pro Patria et Libertate
Budapest, Europe and world news

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?


AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.
Newsletter

Related Articles

0:00
0:00
Close
Emails Leaked: How Passenger Luggage Became a Side Income for Airport Workers
Polish MEP: “Dear Leftists - China is laughing at you, Russia is laughing, India is laughing”
Western Europe Records Hottest June on Record
BRICS Expands Membership with Indonesia and Ten New Partner Countries
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
China’s Central Bank Consults European Peers on Low-Rate Strategies
France Requests Airlines to Cut Flights at Paris Airports Amid Planned Air Traffic Controller Strike
Poland Implements Border Checks Amid Growing Migration Tensions
Emirates Airline Expands Market Share with New $20 Million Campaign
Amazon Reaches Milestone with Deployment of One Millionth Robot
Yulia Putintseva Calls for Spectator Ejection at Wimbledon Over Safety Concerns
House Oversight Committee Subpoenas Former Jill Biden Aide Amid Investigation into Alleged Concealment of President Biden's Cognitive Health
Amazon Reaches Major Automation Milestone with Over One Million Robots
Extreme Heat Wave Sweeps Across Europe, Hitting Record Temperatures
Meta Announces Formation of Ambitious AI Unit, Meta Superintelligence Labs
Robots Compete in Football Tournament in China Amid Injuries
China Unveils Miniature Insect-Like Surveillance Drone
Marc Marquez Claims Victory at Dutch Grand Prix Amidst Family Misfortune
Germany Votes to Suspend Family Reunification for Asylum Seekers
Budapest Pride Parade Draws 200,000 Participants Amid Government Ban
Southern Europe Experiences Extreme Heat
Xiaomi's YU7 SUV Launch Garners Record Pre-Orders Amid Market Challenges
Jeff Bezos and Lauren Sanchez's Lavish Wedding in Venice
Russia Launches Largest Air Assault on Ukraine Since Invasion
Massive Anti-Government Protests Erupt in Belgrade
Iran Executes Alleged Israeli Spies and Arrests Hundreds Amid Post-War Crackdown
Hungary's Prime Minister Criticizes NATO's Role in Ukraine
EU TO HUNGARY: LET THEM PRIDE OR PREP FOR SHADE. ORBÁN TO EU: STAY IN YOUR LANE AND FIX YOUR OWN MESS.
Hungarian Scientist to Conduct 30 Research Experiments on the International Space Station
NATO Members Agree to 5% Defense Spending Target by 2035
NATO Leaders Endorse Plan for Increased Defence Spending
U.S. Crude Oil Prices Drop Below $65 Amid Market Volatility
International Astronaut Team Launched to Space Station
Macron and Merz: Europe must arm itself in an unstable world
Germany and Italy Under Pressure to Repatriate $245bn of Gold from US Vaults
Iran Intensifies Crackdown on Alleged Mossad Operatives After Sabotage Claims
Trump Praises Iran’s ‘Very Weak’ Response After U.S. Strikes and Presses Israel to Pursue Peace
Oil Prices Set to Surge After US Strikes Iran
BA and Singapore Airlines Cancel Dubai Flights Amid Middle East Tensions
Trump Faces Backlash from MAGA Base Over Iran Strikes
Meta Bets $14 B on Alexandr Wang to Drive AI Ambitions
FedEx Founder Fred Smith, ‘Heart and Soul’ of the Company, Dies at 80
Chinese Factories Shift Away from U.S. Amid Trump‑Era Tariffs
Pimco Seizes Opportunity in Japan’s Dislocated Bond Market
Labubu Doll Drives Pop Mart to Status as China’s Most Valuable Toy Maker
Global Coal Demand Defies Paris Accord Goals
United States Conducts Precision Strikes on Iran’s Nuclear Sites
US strikes Iran nuclear sites, Trump says
Telegram Founder: I Will Leave My Fortune to Over 100 of My Children
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
×