Strengthening the pipeline of women investment professionals

“Meaningful inclusion is not simply about having more women in the business; it is about seeing women where capital is allocated, where investment decisions are made and where strategy is shaped.” These are the words of Terry Dineo More, Human Resources Manager at investment firm Tamela, who believes that while the investment industry has made meaningful progress in advancing gender diversity, women remain underrepresented in many of the roles that ultimately shape investment decisions, influence capital allocation and drive long-term business growth.

According to More, the challenge is no longer simply attracting women into the industry but ensuring they have a clear and equitable pathway to leadership. “Our aim at Tamela is not to simply increase representation, but to create an environment where talented women can develop into future leaders and decision-makers,” she says.

While South Africa has progressive employment equity legislation, many women, particularly Black women, continue to face barriers to career progression. More believes the conversation should shift away from asking why women leave the industry and instead focus on why they do not always see a future within it. “Many firms hire exceptional women, but progression often slows because sponsorship, high-profile transactions and commercial exposure are not always distributed equitably,” she explains.

She argues that mentorship alone is not enough. “Women need sponsors – leaders who are prepared to advocate for them when investment committees are formed, promotions are discussed or complex client work is allocated. Career progression should also be transparent. Too often, advancement depends on informal relationships and unwritten rules rather than clearly defined expectations.”

According to More, leadership development begins long before an executive appointment. It is built through consistent exposure to meaningful work, strategic decision-making and opportunities to earn trust throughout a career. This philosophy is reflected across the investment talent pipeline, at Tamela.

“We are intentional about ensuring women are represented across every stage of the business. Today, our investment professionals include women at graduate, analyst, senior leadership and executive level. Our Sponsor division is led by a female executive, while both Associate positions are held by women who play a critical role in mentoring and developing our analysts. That visible progression matters because it demonstrates that technical investment careers can lead to leadership.”

Experience remains one of the greatest accelerators of professional growth. “Rather than limiting strategic conversations to senior leadership, we encourage investment professionals across different levels to contribute ideas, participate in discussions and gain exposure to complex transactions and client engagements. These experiences build both technical capability and the confidence required to take on greater responsibility.”

Developing future female leaders requires sustained investment rather than waiting for leadership vacancies to emerge. Creating future female leaders isn’t about waiting for opportunities to become available. It’s about intentionally developing women throughout their careers so that when those opportunities arise, they are already equipped to step into them.

More believes recruitment may open the door, but culture determines whether talented women choose to stay. “Mentorship, development opportunities and an inclusive workplace culture are what enable women to build long-term careers. When women feel supported, trusted and empowered to grow, they are far more likely to progress into leadership.”

Her advice to young women considering careers in investment management is simple: do not mistake a lack of representation for a lack of belonging. “Twenty years ago, many young women entering investment management would have struggled to imagine themselves leading an investment committee or sitting around a boardroom making capital allocation decisions. Today, those opportunities are far more visible, not because the work is finished, but because the women before us challenged the status quo.”

She notes that the industry is increasingly recognising that stronger investment outcomes are driven by diversity of thought, supported by a growing number of graduate programmes, leadership initiatives and development pathways. “My advice is not to wait until you feel you belong. Build your technical expertise, remain curious, ask questions and seek sponsors who will advocate for your growth. Your perspective has value. The investment management industry does not need women who think exactly like everyone else. It needs women who bring different experiences, challenge assumptions and ultimately strengthen the quality of decision-making.”