[ I N - D E P T H
|
W O M E N
D
id you know women are
scientifically better at
trading than men? At least
that’s the findings of research
undertaken by academics at the
UK’s University of Leicester. The
study found employing a greater
number of female traders reduces
the chances of a market crash and
increases the regularity of positive
trading returns. According to the
research, women possess certain
qualities that help them carry out
the role of a trader more effectively.
Despite this research, and many
others highlighting the benefits of
a diverse workforce, the number
of women in front-office roles of
investment managers is still in
stark contrast to that of their male
counterparts.
It is surprisingly difficult to find
solid gender ratio statistics for staff
at investment management firms.
However, Blackrock, Aberdeen As-
set Management, Franklin Temple-
ton, Amundi, Fidelity Investments
and Union Investment recently
agreed for the first time to share
data on how many women they
employ in senior roles. The results
painted quite a bleak picture, with
half the workforce being represent-
ed by women but just 25% having
been appointed to senior manage-
ment positions.
Perhaps this isn’t surprising,
given the inflexible nature of the
trading desk and market opening
times, along with the stereotypes
associated with trading and the 90s
‘Wolf of Wall Street’ image many
women on the outside might have
of the industry.
But while female buy-siders
recognise the difference in their
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Spring 2017
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supposed approach to trading,
it’s important to highlight at this
point that men and women can - of
course - possess the same values
and qualities for trading.
Glass ceiling
“Women have a reputation as
being more considerate when
making investment decisions and
more conciliatory in dealing with
others, but those aren’t necessarily
female qualities - anyone who has
those qualities as well as diligence,
commitment to client service and
an interest in the industry, will do
well,” says Nicola Burnside, a fixed
income dealer at Aberdeen Asset
Management.
Louise Drummond, global co-
head of investment execution also
at Aberdeen Asset Management,
echoes her colleague’s sentiments.
“I think women can often be more
measured in their thinking and
less impulsive in terms of fund
management style which provides
a good balance and diversity in
fund management teams,” says
Drummond.
Female buy-siders largely agree
long working hours, stressful
working days, pressure from
senior managers to perform well,
alongside the challenge of trying
to balance family life, are feasible
explanations for the gender imbal-
ance among trading desks.
“The fact that you need to be
working during market hours
definitely means that flexibly
working hours are more difficult
to accommodate in our industry,”
adds Drummond.
Though not all women in buy-
side trading feel as though they
“Skills,
abilities and
character are
specific to the
person, not
the gender.”
ANGELA MCLEAN,
SENIOR DEALER, NIKKO
ASSET MANAGEMENT
have had to fight their way through
the ‘glass ceiling’ to progress in
their careers. Angela McLean, se-
nior dealer at Nikko Asset Manage-
ment, explains despite the industry
being male-dominated, she has
never felt there has been a barrier
to her career progression. “In my
first dealing job the head of dealing
was female, so I’ve never felt that
women could not be appointed to
senior roles. I believe that skills,
abilities and character are specific
to the person, not the gender.”
The financial industry as a whole
has been somewhat tainted by an
‘alpha male’ culture often depicted