2 minute read
Championing the gender agenda
ALIDA DE SWARDT CEO, RMI Investment Managers
At RMI Investment Managers, we are passionate about playing a meaningful part in cultivating a savings culture in South Africa and transforming the investment management industry to better reflect the society we serve. In addition, we view the promotion of gender diversity and the empowerment of women in financial services as a key part of this transformation agenda.
In our quest to improve our understanding of the gender challenges within the investment management industry, we invited 12 female Chief Investment Officers from South Africa’s prominent multimanagers, and our female portfolio managers within our affiliate stable, to share their experiences and what they believed were the major catalysts in their own careers that paved the way to their current roles.
Culture can make or break your career
The most common contributing factor to the success of these women is a company culture supportive of their careers as women in financial services. These corporate cultures tend to be inclusive, offer flexible working arrangements and discourage the view that women face a binary choice between career and motherhood.
Another way these cultures encourage women to stay the course is to provide them with the opportunity to reduce responsibility or change roles for a period of time. This non-linear career progression or ‘jungle gym’ career path is not viewed as taking a step back but rather as an alternative path to reaching your ambition and full potential.
Role models, mentors and sponsors
A further contributing factor for many women in deciding to opt out of a decision making role, is the lack of visibility of women who have successfully achieved these positions. According to 27four’s 2018 BEEconomics Report, women represent 49% of the total industry, yet only 18% are portfolio managers. While it was pleasing to see a 21% increase in female portfolio managers between 2010 and 2018, there are still almost five times as many men in this role as women.
Acting as a role model, mentor and sponsor is probably the most important responsibility women in investment executive roles can take to help other women achieve similar positions. Sponsorship is globally cited as the most important factor in bringing about meaningful change through becoming personally invested in another woman’s career path by opening doors, introducing them to relevant and influential people, raising their profile and trying to connect them to growth opportunities that will develop their careers.
Bravery rather than perfection
Studies show that women are more likely to strive to perfectionism than men, particularly in a work context. Speaking up does not always come naturally to most women, whether it is to make their voices heard or to admit when they are struggling. Firms today should mindfully encourage all employees to participate and freely express their views in front of other people. You do not need to have 100% of the knowledge to make an insightful or meaningful contribution, you just need to have the confidence that what you say matters.
Changing the narrative
There is no doubt that women have many strengths that make them valuable investment decision-makers; the question is how do we encourage more of them into these roles? We need to alter the narrative around women in leadership positions but, importantly, we need men to help drive this agenda. Through concrete, relatable and impactful action, we are determined to shift this dial for women in investment management.
ALIDA DE SWARDT CEO, RMI Investment Managers
