Finance sector dominates HERoes Women Executive and Future Leaders Lists

Representatives from some of world’s leading finance businesses, including Goldman Sachs, Fidelity International, Standard Chartered Bank, American Express and BNY Mellon have been named in the top ranks of the prestigious annual INvolve HERoes Women Role Model Lists, supported by Yahoo Finance.

Individuals from the finance world make up almost one third (31%) of the HERoes Women Role Model Lists, by far the largest representation of any other sector. Importantly, the individuals are distributed evenly across each of the three Lists; Executives, Future Leaders and Advocates.

The release of the role model lists comes as research by INvolve, in conjunction with HR Data Hub, shows that much more needs to be done to address gender equality in business. An analysis of 250,000 professionals found that 77% of people with salaries over £73,000 are men, whilst women make up the majority (56%) of those professionals who are in the lowest pay bracket of up to £17,000.

The research also found that women have spent longer in each role at the lower end of the pay scale, but as they become more senior, this dramatically reduces. For instance, a woman has spent an average of 10 years on a salary of £21,000, compared to a man’s 8 years, but has only spent 5 years at a salary of £165,000, compared with a man’s 8 years.

Those in the 100 Women Executives List include Dr. Jennifer R. Jackson, president of Capital One Canada, who takes the top spot, Ann Cairns, executive vice chairman at Mastercard at number 2 and June Felix, CEO, IG Group, who sits in the third spot.

Ann Cairns, executive vice chairman at Mastercard said:

‘Even today, inequality and exclusion still hold women back. Recognising women who are leading by example and driving change to increase gender diversity in the workplace helps us transform the way our world works.’

‘A tremendous amount of progress has been made over the last 10 years, however there is still progress to be made especially during a pandemic when much of the longer-term economic impact will be burdened by women. In order to drive progress we must continue to push for parity across all measures.

‘Because a world that works better for women creates limitless possibilities for us all.’

Alongside Ann Cairns on the 100 HERoes Women Executives List are;

• Rachel Lord, senior managing director, head of Europe, Middle East and Africa (EMEA) BlackRock (at number six)
• Terecina Kwong, chief operating officer, HSBC Europe (at number seven)
• Yvonne Garcia, chief of staff to chairman & CEO and global head of internal communications, State Street Corporation (at number eight)
• Penny James, chief executive officer at the Direct Line Group (at number nine)
• Charlotte Duerden, managing director, American Express (at number 39)

In the Women Future Leaders List, JiHye Bae, head of credit cards at Standard Chartered Korea takes the top spot, with René Lumley-Hall, director, product management, BNY Mellon at number 18 and Lin Yue, executive director, Goldman Sachs at number 44. Lin Yue said:

‘I am encouraged by the progress made on gender equality in financial services this year and look forward to helping more professionals find their own voices and drive further changes on achieving gender equality and equity.’

INvolve’s founder & CEO, Suki Sandhu OBE, who was awarded his OBE in 2019 for services to diversity in business, has worked for nearly a decade on advising companies on how to improve diversity.

He said: ‘Despite the many initiatives to address gender inequality, it’s clear that there is still a shocking lack of women in senior positions which continues to drive a significant gender pay gap.

‘With the delays to reporting on the gender pay gap this year, coupled with the negative impact of Covid-19 on pay equality, it’s vital that we continue to push for change. That’s why it’s more important than ever that we celebrate those who are taking action globally to drive inclusion for women, and that’s why the HERoes Women Role Model Lists are so important.

‘We’re delighted to be celebrating another fantastic group of people from across the world who are collectively driving cultural change and creating workplaces where women have an opportunity to succeed and be recognised as equal to men.’

Harriet Green OBE, board member & former CEO/chair IBM Asia Pac, who joins the HERoes judging panel this year said, ‘I am both proud and excited to become a judge for HERoes this year. A phrase that I have used most of my career, and I believe in it more than ever now, is, ‘if you can see it, you can be it’. I think that this is incredibly powerful.

‘We have to keep learning; we have to keep growing. We can write and we can be the voices and we can see, and we can be seen, but every single day, we need to take action to support other women.’

High flying professionals from 26 different countries made this year’s HERoes Role Model Lists – more than any of the previous years. British success stories have been recognised side by side with senior executives from global multinationals.

Dr. Jennifer R. Jackson, the president of Capital One Canada, who is based in Toronto, heads the 100 Women Executives List while JiHye Bae, head of credit cards for Standard Chartered Korea (SCBK) tops the Future Leaders list from her base in Seoul. Alan Jope, chief executive officer of consumer goods company Unilever, who is based in London, has been named the leading Advocate for Women in the 2020 honours.