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Powerwomen Awards 2016: companies and individuals who support diversity

Date: 02 Mar 2016

Citywealth

Photo from left: Wendy Papworth of Barclays who sponsored the event, Sandra Davis of Mishcon de Reya who won Woman of the Year: Leadership, Professional Servicesand Frances Edmonds, host.

The Citywealth Powerwomen Awards, now in their third year, took place on 3 February 2016. The awards commend individuals and companies who maximise the potential of women in wealth, supporting and promoting diversity.

The event which was hostedby the best-selling author andbroadcaster Frances Edmonds,who has been rated Britain’s mostentertaining female speaker in arecent survey by The Times alsofeatured pre recorded footage ofthe shortlisted candidates to set the scene for the guests.The ceremony also welcomedHeather McGregor, managingdirector and principal shareholderof communications executivesearch firm Taylor Bennett.

Theorganisation work to promotediversity in the communications industrythrough their TaylorBennett Foundation. Anexperienced writer and columnistin the national media, she is bestknown for her Financial Times’Mrs Moneypenny’ columns. Shewas also a founding member ofthe steering committee of the30% Club, working to raise therepresentation of women at seniorlevels within UK’s publicly quotedcompanies.The Taylor Bennett Foundation,which benefited financiallyfrom the evening, is an award winningwork-based PR trainingprogramme that was created to prepare black, Asian and minorityethnic (BAME) graduates forcareer in communications. In thelast eight years, more than 140graduates have been through theprogrammes, over eighty percentof whom have gone on to work inthis field.

The evening also included a newformat interjecting live interviewsfrom guest reporter David Garrido,a radio and TV broadcaster bestknown for covering high-profilesporting events on Sky Sports.Garrido interviewed pre-selectedguests who included NancyCurtin of Close Brothers andStella Mitchel-Voisin from SummitTrust International with questionsabout diversity and thoughts onthe awards and evening. Theinterviews were streamed live ontothe stage.

In the run-up to the awards,Citywealth conducted researchwith two hundred women acrossmultiple financial centres, whichrevealed some very interestingstatistics. In spite of recentgovernment targets set at thirty threepercent female boardmembers for FTSE 100 firmsby 2020, the Citywealth surveyshowed that the majority of womenin the wealth industry didn’tbelieve in mandatory quotas forwomen. Forty-eight percent wereagainst, who were mostly fromthe European IFCs, arguing theywould much rather be promotedon merit. Only thirty-one percentsupported mandatory quotas withpopular sentiment concluding that”it was a necessary evil to kickstartchange.‚Äù The majority of thesewomen were from the Caribbeanand Central America.When it came to mentors and rolemodels, almost fifty percent of ourIFC Powerwomen drew inspirationfrom professional relationships,while forty-two percent of themturned to their family and friendswith parents being cited as strongrole models. The interesting back story for such a large responseof parents, friends or family asmentors, when analysed, wasthat this group mainly came fromrelatives with strong corporate backgrounds.This paved the way for better business and mentoring support,potentially effective coaching timethat is absent for women whoare not reaching the same careerprogression.

The deal sizes women are workingon were split equally betweenwomen dealing with transactionsand investments worth around$5 million up to $350 million,and a second tier dealing withtransactions and investmentsof between $1 billion up to $55billion. An approximate calculationputs our IFC women as dealingwith a total of $160 billion withintheir career lifespan so far.

In 2015, Powerwomen‚Ñ¢ wastrademarked by Citywealth tounderline the commitment tosupporting women in the financialindustry with a recognisable brand.

To see the full winners and photos please sign up for a subscription on our website where new readers can receive a complimentary edition.If you are an award winner, then just email for a complimentary copy mkunova@citywealthmag.com

https://www.citywealthmag.com/e-magazine

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