Celebrating women

On 8th March, the specialist finance industry came together to celebrate the female figures bringing significant change in this sector. We look back at some of their insightful words of wisdom on International Women’s Day that aim to inspire the new generation and further improve gender equality in our market

We’ve seen the industry come on leaps and bounds in terms of diversity in recent years but, while we have moved forward, there is still work to do and challenges that need to be addressed. We still need to see more women in senior positions such as at board or CEO level. The gender pay gap is still an issue too, and something I really hope that companies in our market look to combat.”

I believe the industry needs sponsors who can help younger women prepare for their next roles and career in finance. Women need to be able to build their own brand and be visible. It is our duty, as women in senior positions, to support the younger generation— this will help reduce gender discrimination in the sector, and help women overcome the reluctance of putting themselves forward.”

Katy Katani director at CapitalRise

When women come together, they not only bring their individual strengths and talents, but also amplify their collective impact. I believe this is key to making progress and driving change in the future. The power of women coming together and achieving great things, despite the hurdles and resistance to change, has the potential to shape a better industry for all stakeholders.”

When I started in this industry 10 years ago, I never had any female mentors; all my bosses were men. Fortunately, I’ve reached a position where I can offer what I craved a decade ago, and I vow to play my part in taking gender diversity to the next level in the bridging world.”

Imogen Williams regional sales manager at MFS

Having a 12-year-old daughter myself, I feel very responsible to use my position and platform to support the battle in overcoming these challenges. Determination and a strong work ethic is key, but we need to provide support in the early stages through education.” — Kate Cowan, chief financial officer at Hope Capital Representation is enormously important. You can’t be what you can’t see, and unless the next generation of talented women can see that there will be opportunities for them within the property finance sector, then they are unlikely to pursue a career in this industry. That’s why it’s crucial for firms to encourage their female staff to take up senior roles within the business, and to give them the same sort of spotlight that their male peers might enjoy.” — Miranda Khadr, founder of Provide Finance

I encourage women that I mentor to follow some advice that I was given years ago: push yourself past where you think your limits are. Take advantage of female empowerment groups, get yourself a good mentor and get yourself out of your comfort zone. You are way better than you think you are.”

— Michelle Lowe, head of partnerships at Somo

When it comes to career progression, the mentor and coaching system is valuable for both women and men as they rise through the ranks. But while it’s widely assumed that women will benefit most from having a female mentor—the idea of learning from someone who ‘has been there herself’ is a pervasive one—male mentors bring other things to the table for female mentees. It is no surprise that genuine support and guidance (and ultimately championing) from male mentors is invaluable to women in the development finance industry, as men still occupy a majority of the seats at the executive table. The responsibility for closing the gender gap rests with the very same executive table.” —

Smithi Sharma, ESG and assurance manager at Atelier

While diversity is important, much has come about by tick-box quotas which I don’t personally think is right. I want to be hired or considered for a role because of my ability, not to tick a box or as part of a publicity stunt. We all want to be treated as equals and sometimes quotas can dilute the talent and push it into the wrong places.”

Natalie Glover associate at SPF Private Clients

My advice to women in property, particularly the younger generations, is to hold your own. Be confident that every person in the room started where you did—at the bottom—and you have as much to add to a conversation as anyone else. If you’re not there yet, then just listen and learn, as that can earn you as much respect as talking in many circumstances.”

Louise Peters property finance manager at Puma Property Finance

I would advise any younger women not to limit themselves to a certain career path, as there are so many different opportunities in finance. Make sure you make your voice heard in your organisation and keep an open mind about how to progress. Know your strengths and carve out your career your way.”

Charlotte Rutter head of marketing and comms at Roma Finance

I think that transparency is key in addressing the gender pay gap in financial services. There’s still a lot of catching up to do to reduce this gap, but if we are all transparent on the benchmark for the value of the role as the driving factor, followed by the experience of the person, I believe this will improve even more in the future.”

Irene Thomas director of lending operations at Assetz Capital

AS AN INDUSTRY, WE NEED TO DO MORE TO BOOST THE PROFILES OF FEMALES IN DIFFERENT ROLES IN PROPERTY, INCLUDING SPECIALIST FINANCE, AS THIS EXPOSURE WOULD SEND A STRONG MESSAGE TO THE PUBLIC ABOUT THE COMMITMENT OF THE SECTOR TOWARDS EQUALITY. WE SHOULD ALSO WORK TO REINFORCE THE MESSAGE THAT THE REAL ESTATE FINANCE MARKET HAS EVOLVED, AND IT IS FAR REMOVED FROM THE ‘OLD BOYS CLUB’ REPUTATION OF DAYS GONE BY. SPEAKING FROM EXPERIENCE, YOUNG WOMEN WOULD BE MORE REASSURED ABOUT THEIR CAREER CHOICE IF THEY HAD THE CERTAINTY THAT THE INDUSTRY WELCOMES THEM AND THAT THERE IS A FUTURE FOR THEM IN IT

NORA REBOLE, head of portfolio management (development) at Octopus Real Estate

Following her appointment as partner at Memery Crystal, Laura Brown talks about the legal challenges around arranging specialist finance, how technology can set you apart and what makes a law firm great

Laura joins from Howard Kennedy, where she was a senior associate. In her new role, she is determined to maintain Memery Crystal’s reputation as a specialist in complex finance transactions across all asset classes and to generate additional business. She is also keen to build a culture that will attract and retain talent, and find innovative ways to deliver high-quality services faster and at more competitive rates.

How will your experience help you in your new role?

It sounds a bit twee, but my experiences—the highs and the lows—have made me appreciate the value and resilience of a strong team. It is important to structure a professionally diverse group with a common ambition that can march as one coherent unit. I have been mentored by some superb partners and I intend to do the same for my team members with equal care and attention.

From a legal point of view, what are the main problems for clients and brokers when arranging specialist finance?

One of the biggest is probably a lack of cooperation between lenders’ and borrowers’ lawyers. This leads to frustration for providers and brokers—they undertake a lot of hard work in getting to approval stage and the period between this and drawdown should be relatively short. This usually stems from a lawyer’s inexperience or a borrower’s nervousness about making disclosures. Having lawyers on both sides who understand the sector, lender risk appetites and the nuances of the type of finance is key to achieving a swift, seamless completion. Early disclosure by the borrower of any potential problems also gives lenders and brokers an opportunity to renegotiate terms at the outset, rather than slowing the due diligence process.

What are some of the biggest misconceptions over legals for specialist finance?

With regard to bridging finance, one is that property due diligence should be minimal. While it may sometimes be appropriate to look at indemnity insurance to reduce due diligence levels, it is incumbent on a lawyer to carry out sufficient checks to enable them to advise the lender of any potential problems with the security that might affect value or impact marketability in an enforcement scenario. How important is technology in the legal process?

Technology is becoming a key differentiator and we must continue to find new ways to do business digitally. For example, electronic signing saves time and costs. I am delighted to see law firms finally starting to look at ways of applying AI to increase productivity and avoid human error. AI can generate as well as analyse content and we are keen to embrace this for lease and title reports to accelerate transactions.

What should brokers consider to avoid legal delays?

Good brokers add value. Intermediaries who gather as much information as possible at the outset about a borrower’s debt position and property concerns help minimise delays. Where brokers facilitate open communication, email ping-pong between lawyers is reduced, if not eliminated.

What characteristic defines a great property finance law firm?

Pragmatism! A great property finance lawyer will find incisive commercial solutions to problems for their client. This period of market stress requires even greater legal agility—lawyers can no longer identify issues and walk away. Property finance matters are rarely linear, so the team must include lawyers with different specialisms, such as banking, real estate, construction, planning, insolvency, tax and litigation. The team should be led by lawyers with market-leading property finance experience and a shared objective to achieve a successful outcome for their clients.

How did you spend your first pay cheque?

I was a trainee lawyer in my early 20s so it probably covered my rent and a night out in celebration of that.

Office, WFH or hybrid? Hybrid. Remote working gives staff a work-life balance, while office working creates a sense of community that leads to collaborative working and knowledge sharing.

What is your karaoke song?

Tina Turner—’The Best’

Your dream job—if you weren’t doing this, what would you do?

When I was younger, I wanted to be a journalist. I suspect that was down to Kate Adie, a woman from North-East England like myself, who gritted her teeth and got on with the job at a time when women in broadcasting were very much in the minority.

Do you have any hidden talents?

I wish! My parents believed every child had a hidden talent just waiting to be realised and I was enrolled in every club—painting, horse riding, ballet, tennis, gymnastics, music etc. I was equally hopeless at each of them.