European Women in Finance Award Winner, Magali Linossier, Executive Director of Sales & Business Development, based in Paris discusses trading, liquidity and equality at Instinet.
Can you please describe your day-to-day role at Instinet?
I joined Instinet 14 years ago, and currently serve as Executive Director of Sales & Business Development, based in Paris. I work very closely with Instinet’s French speaking clients across France, Brussels, Monaco, Luxembourg, Geneva, and Dublin. In my day-to-day role, I assist clients with my hands-on knowledge and international experience in trade processing, connectivity, and in navigating the nuances of financial market micro-structures and best practices. I make every effort to be an effective guide on the best ways to address their needs across a fully-integrated array of channels and instruments, such as Cash, Program Trading, Electronic and Algorithmic Equity Trading, OMS/EMS Systems, Analytics, Trade Allocations, and Clearing & Settlement. I guess you can say I’m like the “Instinet ambassador” to clients in the region, delivering the best of Instinet to them, for their equity trading life cycle needs.
Please allow me to say thank you for this wonderful award! It means a lot to me. It is rare to be “seen”, much less recognised in such a positive way for developing a client and market specialisation like mine. I’m genuinely thrilled and I congratulate all of my impressive fellow award winners and nominees.
Market conditions have been volatile but what have you found to be the most challenging?
It’s been most challenging in these market conditions to witness the impact on our clients: their pressure to cut commission rates, the struggle to find liquidity, and the need for strategies to respond to poor volumes, due to the market conditions. Working for an agency model broker, whatever the market challenges may be, I have an unconflicted focus to assist our clients in the region and consult with them on ways to achieve the best performance they can. Along with the rest of the team at Instinet, we work hard to develop a deep understanding of their goals, address their existing challenges and opportunities, and anticipate what they will need in not only today’s dynamic marketplace, but also the future landscape, as well.
What skill-sets are required for today and have they changed over the past couple of years?
This marketplace, and our technology, is constantly evolving. So, I think it’s important to have a collage of evergreen skill sets that create consistency, yet allow you to remain nimble and adaptive. When I say “evergreen” – I mean skills that equate to reliability, team-mindedness, sincere client focus, and a solutions-oriented approach. In this industry, the ability to work under pressure, exercise diplomacy, and react sensibly but also with tenacity, are the main behaviours needed to succeed. In my view, these things have helped ensure that Instinet, and hopefully also that, I myself, remain a tried and true resource – not just over the past years, but also those still to come.
How did you get started in financial services and is this the career you envisioned? If not, what had been the plan?
I actually started in financial services by pure chance. Initially, I didn’t think it was an area that really interested me. But, I had the opportunity to take an internship in finance at the end of my studies and was trained by a Chinese major at Polytechnic school, who was fascinating and who sparked my desire to continue in this area. I realised that it doesn’t matter so much what your formative studies are – what matters is how you apply them and where you are able to find your passion.
What progress do you think women have made in financial services? How have things changed since you started?
It feels like I started such a long time ago (some days more than others!), when women were quite rare in the industry. So, I’m very happy to see so many women managing to balance their personal and professional lives and be part of the industry with their tremendous skills. I’m glad there is more diversity than there used to be, although there is still more progress to be made.
What needs to be done to move the needle further?
We need to continue to recognise women in this field. It is so crucial to encourage the next generation of female leaders. I hope more young women will be inspired to join our industry and I look forward to seeing many more women leading in the future. But, we have to make sure they have support and mentorship. Part of this also involves flexibility, encouragement to evolve, regular development training, and we need to give women more trust in positions and let them lead.
How does your firm support women and diversity, equity and inclusion (DEI) in general?
At Instinet, we’ve established the “Inspire Network” – a programme led by employees – to keep this top of mind in our firm’s culture. Through our parent company Nomura, we also have access to diversity focused organisations, including many that are specific to the advancement of leadership and networking for women. It’s wonderful to tell you that here in our Paris office, more than half of the employees are women. So, I’d say diversity is more than respected – it is an increasingly tangible commitment.
How are you involved?
I’m a member of our Inspire Network Executive Committee and of the Environment Subcommittee. Instinet’s Paris office is also a member of Finance for Tomorrow/Institut de la Finance Durable, a market place initiative on Climate/ESG to reach sustainable development objectives and those from “Accord de Paris” for the Climate. They provide answers to those challenges in the world of Finance and its impacts.
It takes commitment and consistency for a firm to establish workplace diversity and inclusion, and build a culture that empowers all of its people to thrive and reach their potential. I’m pleased to be part of Instinet’s Inspire Network.
There is a plethora of awards for women in the financial sector. In your opinion, what still needs to happen before we no longer need gender-specific awards?
In order to do away with the need for gender-specific awards, I think we will ultimately need perfect equality among women and men in terms of salary and responsibilities. There is still a big gap between both in financial services, but I am very optimistic that trends are going in a positive direction for women.
Research shows us that more diverse leadership teams and more diverse corporate boards are highly correlated to better performance. So, diversity isn’t a “soft” value – it is an imperative for any organisation that aspires to excellence. Markets Media is such a strong advocate for women in finance and your signature regional Women in Finance events embody that support. I think it’s wonderful that you recognise and celebrate the talented and accomplished women across the financial services spectrum, whether they represent buy side or sell side trading desks, institutional investors, wealth managers, securities exchanges, technology providers, corporate finance, venture capital firms, or start-ups. That women are climbing in all of these areas is a great thing to showcase. Shining a spotlight on female accomplishments in finance is a great thing to celebrate. Thank you for helping us to do that!
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