London Stock Exchange welcomes Women in ETFs
March 1, 2017 New York – For the 3rd year, a global collaboration across 43 stock exchanges around the world plan to “Ring the Bell for Gender Equality,” to celebrate International Women’s Day 2017 (March 8th). The events are a partnership between Women in ETFs, UN Global Compact, UN Women, the Sustainable Stock Exchanges (SSE) Initiative, IFC, and the World Federation of Stock Exchanges, to raise awareness about the business case for women’s economic empowerment and the opportunities for the private sector to advance gender equality and sustainable development.
A new report to be published on March 6th by the UN Sustainable Stock Exchanges initiative with GIZ*, highlights how exchanges and businesses can and are advancing gender equality. It cites a number of imperative challenges:
- Women take home 1/10 of global income, while accounting for 2/3 of global working hours; and
- According to a 2016 review of 1,000 listed companies by Bloomberg, the average representation of women in the leadership was 23% in senior management, 21% on boards, 4% have a female chairperson, and 3% have a female CEO.
However, there is evidence of a business case:
- Female representation in leadership has shown to improve performance metrics such as ROA, ROE, and EPS while reducing volatility;
- If better served, women-owned small businesses could add around $285 billion to the global economy; and
- The global economy could be up to $28 trillion larger in 2025 if gender gaps were eliminated.
Jill Mavro, co-President of WE and Senior Managing Director, SSgA SPDR, explained:
"There is a natural synergy for WE to celebrate International Women’s Day. Our mission is to further the careers of women today by leveraging our collective skill and ambition."
Diana Tidd, co-President of WE and Head of Index at MSCI, added:
"Gender equality is central to driving the global economy and the private sector has an important role to play."
Out of the 43 bell ringing celebrations taking place globally from March 2nd - 10th, Women in ETFs is the lead partner on 17 events including 8 in EMEA. Bell Ringing events will welcome WE leadership teams, corporate sponsors, as well as members, with host speakers presenting the business case for women’s economic empowerment.
Deborah Fuhr, External Liaison for WE, Founder of WE and Managing Partner of ETFGI, commented:
"Women in ETFs has gathered over 570 members (women and men) in EMEA from the UK, France, Ireland, Switzerland, Germany, Italy, the Netherlands, Belgium, and South Africa, and received the support of many industry participants. We have recently launched a Mentorship initiative in London and are looking forward to keep extending our Organisation via various events and dedicated initiatives in new countries."
*The Deutsche Gesellschaft für Internationale Zusammenarbeit GmbH or GIZ in short is a German development agency headquartered in Bonn and Eschborn that provides services in the field of international development cooperation.
Women in ETFs
Women in ETFs is the first women’s group for the ETF industry. Founded in January 2014, WE is a non-profit organisation that brings together over 2,600 members, including women and men, in chapters in major financial centers across the United States, Canada, EMEA and Asia Pacific to further the careers of women by leveraging our collective skill and ambition.
Women in ETFs brings together women and men in the ETF industry in the United States, Canada, EMEA and Asia Pacific to:
- CONNECT: Create opportunities for professional advancement of women by expanding connections among women and men in the ETF industry,
- SUPPORT: Offer guidance for the current and next generation of women in ETFs, and
- INSPIRE: WE achieves this by organising events at our chapters globally that support our goals of education, networking, philanthropy and idea sharing across the industry and beyond.