As part of our Diversity on the Desk series, we spoke to Teresa Woodard, global head of trading analytics at T Rowe Price, about the ongoing shift in hiring practices, the growth of a collective voice, and urgency of improving representation – before it’s too late.
Over the past few years, I definitely have seen an important step to improving representation. Leaders have shifted the ways they are speaking about hiring and how they build their teams. There has been, in my opinion, a move from “fit” to capability. That seemingly small shift opens to the door to a greater pool of applicants than before.
Because of the focus on representation and inclusion, women in the trading industry are finding our collective voice to drive impact and change. Couple this with the shift I mentioned above, we are making important strides in hiring and retaining top female talent.
Challenges still exist. There is still lack of representation in the most senior roles for women and people of colour. According to the McKinsey’s Women in Workplace, women of colour in particular lag both white women and men of colour across senior and executive roles. If we don’t increase the pipeline today, it will be very difficult to move the needle in the next three to five years.
As an industry, we have an opportunity to share and sell the amazing career that can be had in the world of finance and asset management. Not only in trading, but in data, analytics, and technology-adjacent roles. Not only is the work endlessly fascinating and innovative, but what we do is impactful, directly helping individuals build wealth for future financial goals.
By next year, I want to see leaders throughout trading become more fluent in the areas of inclusion and development. To see more women in the senior ranks, there should be focus on the talented individuals on our teams and making sure they have tools they need to grow.
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