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The past several years have not been kind to the financial industry. Investment banks have imploded, retail banks have closed and even entire countries have been (or are) poised on the brink of economic collapse. It would not be fair of course, to blame men for all these financial catastrophes…however, we can’t help but notice that the financial industry has been rather male-dominated for…well, ever. Studies have proven that a little more double-X at the boardroom table gives a company a different, more balanced, perspective. We’re not saying women could have prevented all this financial chaos, we’re just saying we happen to know a number of brilliant female financial minds who are making a huge difference in the world of global finance…read on!
1. Christine Lagarde – Managing Director, International Monetary Fund
Known as the “Coco Chanel of world finance”, the former French Minister of Economic Affairs is head of the International Monetary Fund (IMF). Ms. Lagarde is responsible for overseeing lending to the world’s economies and her mandate is fraught with the daily perils of navigating the European debt crisis. Her influence goes far beyond her stylishness; Ms. Lagarde is known for her calm, strategic thinking and clear vision. She is a critic of ‘macho corporate culture’ and warned US Treasury officials to intervene before the collapse of the financial sector of 2008.
2. Sri Mulyani Indrawati – Managing Director, World Bank
Ms. Indrawati was the Finance Minister of Indonesia before taking on the leadership of the World Bank in 2010. The World Bank provides financial assistance to developing and reconstructing economies. In her previous role, Ms. Indrawati successfully guided one of Southeast Asia’s largest economies through the global economic crisis of 2007-2009. Now at the World Bank, she focuses on the World Bank’s efforts in reducing poverty and supporting ailing economies for over half the planet.
3. Saadia Zahidi – Senior Director, Head of Constituents, World Economic Forum
At the World Economic Forum, Saadia Zahidi is responsible for engaging religious leaders, not-for-profit organizations, labour leaders and women and minority groups. Her research on gender issues has exposed the inequalities that still exist in many countries and demonstrates the growing influence of the “power of the purse” on global economies. Ms. Zahidi benchmarks countries according to their gender gaps on issues such as health, education, economic participation and political empowerment.
4. Renée Haugerud – Founder & Chief Investment Officer, Galtere Ltd.
She may have begun her life as a farmer’s daughter from Minnesota, but today New York based Ms. Haugerud runs one of the most successful hedge funds in America - and one of the very few run by a woman. Ms. Haugerud appreciates that her success in a male-dominated sector is rare. She has funded a groundbreaking program at the University of Tennessee that teaches trading and finance from a ‘female perspective’. The goal is to empower generations of young women to become every bit as successful as men in the finance industry.
5. Chetna Gala Sinha – Founder & Chairperson, Mann Deshi Mahila Group
Ms. Sinha is the founder of the first micro-enterprise bank in India offering loans, insurance and pensions to rural women. The bank has expanded to include a business school to train women in entrepreneurship and a non-governmental organization (NGO) that strives to change policies and systems that block women’s rights to control their finances. Ms. Sinha is a passionate advocate for empowering women, especially those who have little or no resources due to their social caste or economic situations.
6. Ngozi Okonjo-Iweala – Minister of Finance, Nigeria
Ms. Okonjo-Iweala is an economic reformer and was the first female Finance Minister in Nigeria, from 2003-2006. At a time when Nigeria was ranked “the most corrupt place on Earth” and internationally notorious for its “419 scams”, Ms. Okonjo-Iweala devoted herself to attacking corruption and making her country more desirable for foreign investment and job creation. She then worked as a director at the World Bank where her scope expanded to all of Africa, until being re-appointed as Minister of Finance in Nigeria last summer.
7. Halla Tomasdottir and Kristin Petursdottir – Founders, Audur Capital
The two Icelandic businesswomen who founded Audur Capital in Reykjavik are committed to increasing diversity and incorporating feminine values into finance. This means infusing the financial sector with candor, integrity, responsible behaviour and an emphasis on the long term. Audur Capital focuses on the economic potential of women and provides investment related services for companies aiming to capitalize on the growing financial power of women.
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