Women are strong, powerful, and deserve to be celebrated. Throughout history, women have struggled to be recognized for their talents, intelligence, and capabilities the way their male counterparts have. Luckily, modern women are able to become just as successful as men, leaving their mark in their industry. In finance, it's no different. This past year has represented many firsts for women in the financial industry, putting many in positions of power never before held by a woman. In recent years, companies with a long history of male CEOs, chairmen, and executives have seen a female take those spots for the first, but hopefully not the last, time.
Today, women hold leadership positions at some of the most recognizable finance organizations. At Nasdaq, Adena Friedman serves as president and CEO; at the New York Stock Exchange, Stacey Cunningham is the first woman to hold full leadership as president of the company.
Many strong female powerhouses in the financial sector even made Forbes list of 100 most powerful women in 2021.
In the top ten, Abigail Johnson is the chairman and CEO of Fidelity Investments. She is ranked sixth on the Forbes list of Most Powerful Women in 2021 and is listed as last year’s most powerful woman in Finance. Under Johnson’s leadership, the assets under management at Fidelity have increased by over 60%, moving the company closer to the ranks of the world’s largest in investment banking.
Marianne Lake and Jennifer Piepszak, Co-CEOs of Consumer and Community Banking at JPMorgan Chase, tied for spot 42 (a first for the list itself), as their partnership in the role has provided them equal power as women in a demanding position at the company.
As one of two black women leading a Fortune 500 company, Thasunda Brown Duckett is the newest CEO of TIAA and oversees the leading financial services provider in the academic and research industry. She takes the 45th spot on Forbes' list. The Founder of Ark Invest, Cathie Wood, made 53rd on the list by making risky, but worthwhile, investment picks. She made an early bet on Tesla, predicting it would surpass $1 trillion in value. Similar bets have made her a huge influence in the Wall Street crowd.
The Hong Kong Stock Exchange's chairman, Laura Cha, 69th on the list, also holds the title for first woman to hold her position at her place of work. Similarly, the executive director of the Bank of Japan, Tokiko Shimizu, is the first woman to do so in the company's history and is listed in spot number 55.
First Abu Dhabi Bank's Group CEO Hana Al Rostamani is the United Arab Emirates lender's first female CEO. Under her leadership, the company's Q3 earnings surged by 54%. Her efforts put her at 57th on the list.
The hard work of these women in recent years, along with the many more not mentioned, show that even in times of hardship and uncertainty, perseverance and determination can bring about positivity. Pushes for diversifying executive boards have brought more qualified female candidates to the table, allowing new voices to be heard and represented at the top. Even still, leadership positions at financial institutions are only occupied by women less than a fourth the percentage of men. While this is projected to grow in the coming years, it's necessary to continue highlighting the accomplishments of women in the industry, to prove time and time again why female leadership is crucial for the future of finance.
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Sources: https://www.forbes.com/sites/isabelcontreras/2021/12/07/from-abigail-johnson-to-laura-cha-here-are-this-years-most-powerful-women-in-finance/?sh=60e6cd8b1fd2 https://www.barrons.com/articles/the-100-most-influential-women-in-u-s-finance-barrons-2021-list-51614990950
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