Mentorship is vital for women in asset management

Growing the number of women in leadership positions is an ongoing, but worthy challenge. It is one that is being faced around the world, and particularly in financial services and asset management, which were traditionally male-dominated industries.

But there are exceptional women we can look up to and try to emulate. In SA, we acknowledge women like Magda Wierzycka, who started Sygnia Limited, and Amelia Beattie, CEO of Liberty Two Degrees, who are both successful role models.

How to break the mould?

While my journey is ongoing, I have 13 years’ experience in a male-dominated industry. When young women ask me how they can succeed, and perhaps one day emulate women like Magda and Amelia, I offer three pieces of advice.

The first and most important is that you need to be the best at what you do in the moment.

Be the best you can be and forget about perfection

Most of us want it all – a family and a successful career – but the reality is that it is not always possible at the same time. Accepting that you can be really great in both roles, but not perfect is a powerful mental shift that will support your growth.

I have seen women try to do everything that a “stay at home mum” would do and at the same time strive to be a high- performing employee. This is impossible, and you risk burnout and disappointment when you don’t succeed.

My advice is to strive to be the best you can be based on what you want and avoid feeling guilty when you are not perfect in every aspect of your life. It will mean that sometimes you might focus more on your home, and other times more on your work. So if at times you feel you are neglecting your home by working long hours, remember that it balances out over time if you also make time for important commitments in your personal life.

Find outstanding men and women to mentor you

The second critical element is a support structure, both at home and at work.

I have found that having a mentor is the best form of support for me at work. I believe that mentorship is important for everyone, but especially for women.

I was very fortunate to have inspirational male mentors throughout my career  Their guidance and support was essential to help me navigate the rough waters of financial services and asset management . Perhaps many people don’t fully understand what mentorship is, and it will be different for everyone. Personally, mentorship first helped me to recognise what my talents are and the contribution I could make. Secondly, having the guidance of a mentor showed me how to build influence and ensure that my voice was “heard”. And thirdly, it provided a sounding board for those times when I faced challenging situations.

It is also important to have a senior, experienced woman as a mentor. Boardrooms have definitely changed over the years and boards are more conscious now than they used to be that it is essential to include women for the skills and insights that they contribute. But there are still men with more traditional beliefs who hear only the male voices in the room.

A good mentor, who has seen and experienced this herself, will help you to understand the male perspective. My mentor played this role for me. In one scenario quite early in my career as an executive, a tactic she shared with me to manage the challenge I faced was to ensure that I “heard” and acknowledged a particular male leader’s view before presenting my own, even though I may have been presenting the solution to the problem. I was completely unaware of this technique, but by following it, I was able to improve my working relationship with him. 

It’s encouraging to see how career women today have retained their femininity and still succeeded in business. In the early days of my career, the senior women leaders that I met showed very little empathy towards the challenges other woman faced. They seemed to feel that they had to behave like men to succeed.  We have definitely come a long way since then and we can now reach out to fellow women leaders to hear their stories and to learn and grow from them.

Be your own most vocal spokesperson

Finally, but perhaps most importantly, you must communicate what you want and ask for help, especially when you are struggling.

Most women, and I used to be one of them, don’t ask. They yearn, they hope, they hint, and they drop vague innuendos, but they don’t ask. Yet a fundamental truth in life is that it is by asking that you receive. It applies to everything in life.

I used to fear asking for things. But I have learnt to ask when I want something. Sometimes I get a “no”, but it is mostly “yes”.

I was especially surprised by, and deeply grateful to, all the leaders, especially men, who supported me and gave me the flexibility I needed when I became a mother. So while it is initially uncomfortable and difficult to ask for what we need, by being braving and advocating for yourself, I am convinced you will be delighted by the support you will receive. 

It is not easy to navigate the male-dominated world that we live in but, as women, we need to be strong and resilient. By supporting other women in our organisation, we will ensure that the number of women in the boardroom reaches levels that truly reflect the contribution we make to society.