Re:Gender works to end gender inequity and discrimination against girls and women by exposing root causes and advancing research-informed action. Working with multiple sectors and disciplines, we are shaping a world that demands fairness across difference.
A survey of Australian CEOs from Dun and Bradstreet and Chief Executive Women (CEW).
The data was collated from Dun and Bradstreet’s monthly Business Expectation Survey of 1,200 chief executive officers over a three-month period Q3-Q4 2011.The data reflects CEO’s answers to two key questions about women senior management appointments.
The survey showed that:
• over 75 per cent of small firms did not intend to appoint a female to a senior management position in the next three months. Over 65 per cent of small to medium size firms were not mandating that female candidates be short listed for senior management roles.
• 22% of corporates said that in the last three months or next three months they have appointed or intend to appoint at least one female to a senior management position. This proportion is approximately the same across all industry groups.
Forbes reports that after a stunning $2 billion trading loss, JPMorgan Chase‘s chief investment officer, Ina Drew, 55, will step down. The 30-year banking veteran oversaw the London unit responsible for the ill-fated trades and was one of three resignations announced so far, including a top London official, Achilles Macris, and a senior trader, Javier Martin-Artaj.
The exit of one of Wall Street’s most powerful women spotlights the dwindling numbers of women at the top. Last year, Sallie Krawcheck left her post as Bank of America‘s president of global wealth management, and Heidi Miller retired as head of JPMorgan’s international operations. This followed the headline-making departures of Lehman Brothers CFO Erin Callan in 2008 and Morgan Stanley president Zoe Cruz in 2007.
“Here we go again. Another woman at the top of Wall Street is toppled,” says Jane Newton, founder of the Wall Street Women Forum and wealth manager and partner at RegentAtlantic Capital. “[Drew] was one of the most experienced, savvy and respected Wall Streeters. This is a blow to other women who want to climb to the top. There’s one less role model and one less female leader to bring diversity, which is sorely needed.”
According to a recent survey of the American Academy of Matrimonial Lawyers (AAML), over half of the nation's top divorce attorneys say that they have seen an increase in the number of mothers paying child support during the past three years, and 47% also note a rise in women being responsible for alimony throughout the same time period.
This Mother's Day, it appears that an increasing number of moms will be setting aside time to sign child support and alimony checks. Overall, 56% of the nation's top divorce attorneys say that they have seen an increase in the number of mothers paying child support during the past three years, while 47% also note a rise in women being responsible for alimony throughout the same time period, according to a recent survey of the American Academy of Matrimonial Lawyers (AAML).
In all, 56% of AAML members cited an increase in mothers who pay child support, while 44% said no change, and there was not an observed decrease. Additionally, 47% have noticed an increase in the number of women paying alimony, while 53% said no change.
By industry estimates, about $2 trillion is invested in global hedge funds. And as anyone familiar with Wall Street should know, the lion’s share of that cash is managed by men.
But women are carving out a bigger piece of the hedge fund world. According to The Hedge Fund Journal, women were running about $100 billion of that total in 2011 — and when COOs are included along with researchers and executive teams, that total moves up to $200 billion. True, 10% of the total isn’t a lot to crow about — we are hardly at a place where the industry is truly “equal opportunity.” But considering Wall Street was exclusively a man’s world just several decades ago, it is worth noting that women are indeed on the rise.
So who are the most influential female hedge fund gurus, and just how much money do they manage, directly or indirectly? Here’s a list of five women in leadership positions at some of the most respected hedge funds in the world — some of which they built with their own hands:
Barbara & Shannon Kelley look at women who opt out of the mommy track and instead work for themselves.
From the Huffington Post:
I came across an interesting study the other day that found that when it comes to independent work -- freelancing, consulting, you name it -- those indie workers are more likely to be women. According toMBO Partners' Independent Workforce Index, some 8.5 million women are choosing to fly solo when it comes to work, making up 53 percent of all independent workers.
It's all about work life balance and career satisfaction, the study found, adding that many of the women they surveyed are finding their choice to go it alone more rewarding than traditional work.
Sounds quite dreamy, doesn't it?
But when you look beyond the numbers, you realize there's more involved here than the entrepreneurial spirit or the freedom to go to work in your jammies -- which, when you come right down to it, really isn't all that dreamy. One reason for the growing number of women saying "oh, phooey" to the land of nine-to-five may speak to something beyond career satisfaction, and that's the workplace itself, which still skews a little Mad Men, where, for every Don behind the desk, there's a Betty at home to take care of business. (Okay, Betty's been replaced, but you get my point.)
This is especially true for women with kids. Back when we were doing research and reporting for ourbook, we came across a relevant study by Joan Williams, who's a professor at the University of California Hastings College of the Law and director of the Hastings Center for WorkLife Law. Her report, The Three Faces of Work-Family Conflict, authored with the Center for American Progress, found that women with families were often marginalized or even pushed out when their jobs demanded 24/7 availability or when "full time" meant fifty hours a week or more.
The Wall Street Journal reports on an experiment conducted recently at the University of Utah’s David Eccles School of Business that reveals that "those firms led by women…were expected to have less share-price appreciation, and when asked to invest, respondents would choose to invest less,”
From The Wall Street Journal:
More and more women over the last decade have climbed the corporate ladder into top management, but if they’re leading a company that’s trying to go public, they’re more likely to run into trouble than men.
“The big result of this study is that those firms led by women…were expected to have less share-price appreciation, and when asked to invest, respondents would choose to invest less,” said Assistant Professor Lyda Bigelow.
The negative feelings did not extend to companies with women in high levels of management, she added—just to the ones where women were chief executives.
A copy of the study, which has been accepted for publication by the Journal of Management, is here.
The Barclays Female Client Group, now in its second year, has launched a White Paper entitled: Understanding the Female Economy: The Role of Gender in Financial Decision Making and Succession Planning for the Next Generation. The findings show important distinctions into how men and women approach financial decisions differently and is the only research of its kind in the market.
Prepared by the FINRA Investor Education Foundation, this study finds that women with low levels of financial literacy were more likely to engage in costly credit card behaviors than men with low financial literacy. The findings suggest that increasing financial literacy can improve credit card management and reduce or eliminate gender-based differences in credit card behavior (released April 2012). The study is based on data from the 2009 National Financial Capability Study.
The past 12 months have seen women take the lead in some of the toughest economic and political environments: Christine Lagarde became the first female to head the International Monetary Fund, Angela Merkel, the German Chancellor, has emerged as the key figure in solving the eurozone sovereign debt crisis and Maria das Gracas Foster has taken over at Petrobras, becoming the first woman to run one of the world’s top five oil companies. Women also head governments in countries such as Argentina, Australia, Brazil and Thailand.
However, the GrantThorton International Business Report 2012 survey shows that just 21% of senior management roles are held by women globally, figure which has barely moved over the past decade. Moreover, just 9% of businesses have a female CEO. This short report explores why this issue matters, the current state of play and what is being done about it.