Welcome to June's edition of the Leaderene newsletter

In this issue we look at how the campaign for more women on boards is progressing following Lord Davies' report and keep you up to date with the latest news and events on women's leadership. We hear from one of our own leading women, Leaderene Advisory Council member Katrina Arnold, and ask you to have you say in the Great Debate - this month's topic "Quota or not to Quota". We will also give you details about how you can get involved with the Leaderene initiative and look at some of the websites and books you should have your eye on to stay up to date and in the know!

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Viewpoint

The last few months have seen the subject of women’s leadership, with particular emphasis on female board and executive positions, put firmly in the spotlight.

Across the world the debate rages over quotas and a plethora of research is emerging which illustrates the positive socio-economic impact and demonstrable business benefits of increasing the number of women leaders.

Several countries have adopted quotas over the last few years including Norway, France and Spain with a handful of others considering it including Italy and Bavaria. Even the Davos World Economic Forum has announced that in future its strategic partners will need to ensure that at least one of their five representatives is a woman. Whilst other nations have opted initially for a more flexible “comply or explain” type model including the UK, Germany and Australia. However, there is a long way to go and it is important that the momentum around this issue does not dissipate and that organisations do not just pay lip service to the diversity agenda until the spotlight fades.

In the US female and minorities representation on boards fell in 2010, whilst in the UK and Europe the percentage of women on the boards of top listed companies has risen. Most noticeably in the UK where women accounted for 23% of all non-executive board appointments in the last 6 months compared to 10% in 2010 increasing the number of women on FTSE 350 boards by approximately 1% since February 2011.

Despite this progress a lot more still needs to be done to enable women to overcome the barriers they face progressing to executive level and to ensure gender balance on boards is achieved sooner rather than later. This activity should include facilitating organisational cultural change to create a more flexible and accommodating work environment and challenging the “old boy’s” stereotype, creating working conditions that support work/life balance for all employees regardless of gender; and providing women with access to mentoring, professional development programmes and leadership training that encourages and supports their aspirations.

Which is why Leaderene has been established, to help eradicate the obstacles facing women as they progress their careers. Through the creation of a network of visible role models who will sponsor and mentor aspiring female leaders and by engendering cultural change in organisations through capacity building and leadership training Leaderene will help to ensure women are empowered and encouraged to rise to the top.

News

Professional Boards Forum launches "Boardwatch" to track progress of gender diversity on UK boards following the Lord Davies Report

EU legislation is needed to boost the number of women in decision-making positions to 30% by 2015 and to 40% by 2020, says a draft resolution approved by the European Parliament Women's Rights Committee

Best practice: Employers urged to create a ‘pipeline’

UK Boards double number of women members

A Call To Action: More Women on Boards Around the World

Nigeria: More Women in Government

Opportunities

Leaderene Seeking Corporate Partners

Leaderene is actively seeking corporate partners to help achieve its goal of increasing access to positions of leadership for women by developing and supporting female leaders and proactively working companies to encourage cultural change within their organisation. There are enormous business benefits to be gained from supporting gender diversity, encouraging and facilitating women's leadership and development at all levels and dedicating time and attention to attracting and promoting the best talent available. This sends out a powerful message to clients, customers and shareholders that a company understands the shift occurring in gender dynamics globally at a social, cultural and economic level and is dedicated to developing a business performing at the cutting edge of its field.

By supporting Leaderene and the development of its female leadership initiatives your organisation will not only gain visibility and recognition but also be contributing to the development of a more equitable future for all. For more information about the range of ways you can pledge your support please contact Jo Cocker at jo@leadergen.com or on 07557479598

Events/Consultations

Consultations

Views are now being sought by the Financial Reporting Council on potential amendements to the UK Corporate Code of Governance. The Financial Reporting Council (FRC) has begun a consultation on whether the UK Corporate Governance Code should be revised to require listed companies to publish their policy on gender diversity in the boardroom and report against it annually. This was a recommendation in Lord Davies’ report, “Women on Boards”, which was published in February.

The consultation deadline is 29th July 2011

Enforcing equal presentation of women and men in company boards is an option presented in the European Commission’s consultation paper on corporate governance.The public consultation launched on 5 April addresses the ways in which corporate governance of European companies can be improved in order to make companies more ethical and more diverse.

The consultation deadline is 22nd July 2011

Events

Women's International Networking: W.I.N. - The 14th W.I.N Conference

 5th, 6th, 7th (8th) October 2011, Rome Italy

Tickets from 995 Euros

360 Entrepreneurship Summit for Women

16-18 September 2011, Malmo, Sweden

Tickets from 695 Euros

West African Women's Leadership Conference

July 14th-15th, 2011, Allisa Hotel, Accra, Ghana

Tickets from $700

Q&A: Katrina Arnold

Each month we will feature an interview with a woman who is excelling in her field. This month we turn the spotlight on our own Leaderene Advisory Council member, Katrina Arnold, who is presently a Senior Associate at the Financial Services Authority.

Katrina specialises in the supervision of the retail and wealth management areas of high impact investment banks and sits on various panels on Treating Customers Fairly and Banking Conduct. Prior to joining the Financial Services Authority, Katrina spent 30 years in the investment banking industry with particular emphasis on risk management and governance. She has substantial expertise in emerging markets and was a London Club Banker to Russia in 1999/2000. Katrina is a Freeman of the Worshipful Company of International Bankers, where she sits on the membership committtee, is an Associate of the Chartered Institute of Bankers and also serves on the management team of Women in Banking and Finance, where she is national treasurer. In September this year Katrina will be returning to the investment banking industry and joining a major firm. In her spare time Katrina is a keen horsewoman and cook.

What is your greatest achievement to date?

I don’t think I can cite one achievement. There are several things of which I am very proud and have spurred me on to try harder and do better, but I would offer learning the ability to re-invent myself as my greatest achievement. In today’s business environment the ability to adapt quickly is, in my opinion, the key to survivability. For example in the late 1990s I was a banker working to enter the Russian markets and develop business. When the Russian economy collapsed I turned into a workout and recovery banker – overnight!

What drives you to succeed?

I don’t really know. Being in the financial markets makes me quite a material girl, so that’s a spur. But that’s at a superficial level. At a deeper level it’s the private satisfaction of achievement. My prep school headmistress always said I would be a “good average”. She was absolutely bang on. My grammar school headmistress doubted I would come to very much. She was way off! My academic achievements (I don’t hold a university degree) are modest. But I have an enquiring mind and will explore an opportunity. I’ve been given some lucky breaks and helping hands along the way. Letting those who have contributed to my success know they helped, is always a driver.

What is your biggest lesson learned?

That not everyone is like me! I am very “what you see is what you get” and would like to think I don’t harbour “hidden agendas”. Wrong! The army maxims “time spent in reconnaissance is never wasted” and “know your enemy” are lessons I have learned the hard way.

Your career has been predominantly in banking and finance, have you experienced any obstacles in your career relating to your gender, and how did you overcome them?

Honestly? No. But I am single and have not had children, so in that respect I have very male career characteristics. I have harboured the thought that I have not been paid equally to men doing the same job, but have never been able to prove it and protest brings its own pile of problems. I have, however, experienced academic snobbery in banking. In your early years try holding your own without a degree against Oxbridge graduates, whatever your gender, you will experience obstacles.

Why do you believe achieving board equality is so important?

Because however much we believe we are in touch with our “male” or “female” side, we’re not. Men don’t think like women and women don’t think like men. Collaboration is the key.

Norway, France and Spain are among the countries which have adopted gender quotas to increase the number of women on their boards. Do you think the UK should follow suit?

No. Because if we do women will always be viewed as “token” and to make up the quota. Women have to put themselves forward more. I think women have more of a fear of failure than men. A woman suffering a bad knock in her career will take much longer, in my opinion, to recover than a man – who will pick himself up and try to carry on as if nothing happened. I think it’s the fear of failure that stops women aiming a little beyond their perceived reach.

Do you have any advice for women looking to obtain Board or non executive positions. What are the key qualities/skills required?

Well, put yourself forward. You may be surprised. The old maxim “if you don’t ask, you don’t get” applies here. And, network, whenever or wherever you can!

On qualities, watch, listen, speak and be curious. And never, ever, be afraid to look stupid. You’d be amazed what a seemingly stupid question can reveal. I once asked, quite innocently, “what’s plan B?”. There was no “Plan B” because, of course, “Plan A” could not fail. Well, Plan A did fail and there was frantic cobbling together of Plan B!

Who do you take inspiration from?

Lots and lots of people. Keep what you like, discard what you don’t. Everyone has something unique and that can be inspirational. Right now, I have a younger friend recently diagnosed with breast cancer. She has breezed through the surgery as if it was a cosmetic treatment, is choosing new wigs for chemotherapy as a new image, and treating the whole thing as a minor inconvenience interrupting her routine. Now, that’s inspirational! I am pleased to report her prognosis is good and she will be around to inspire us hopefully for many years to come.

Recommended reading:

For Business...I don’t really “do” business books, but I did enjoy The Memoirs of Chief Red Fox, which although not a business book, championed the skill of adaptability. In his lifetime he went from living in a tepee to flying in jets. He dictated his memoirs in his 101st year and was clearly an amazing man.

For pleasure...I think books from my childhood. Either Wind in the Willows or Treasure Island, both of which I read again every few years or so.

Recommended Reading

Recently published

Women in Leadership: Contextual Dynamics and Boundaries by Karin Klenke

Did you miss...?

Delusions of Gender by Cordelia Fine

Interesting research

The Opportunity Now benchmarking survey 2010-11 has been released. This is the UK's most extensive survey on gender equality and diversity in the workplace.

Intuit Study Paints Provocative Picture of 2020: 10-year Forecast Reveals Global Opportunities for Individuals and Small Businesses. Takes an interesting look at the growing impact of women on the global economy and business as both leaders and consumers.

The Great Debate: Gender Quotas for Boards

Whilst most people are in agreement that there should be more gender diversity on corporate boards they become divided on how best to attain it. The debate surrounding gender quotas shows no sign of abating. So what do you think? Listed below are some arguments for and against to get you started, have your say on Leaderene‘s Linked In group page.

Arguments for:

• At the current rate of change it will still take over three decades for gender equality on corporate boards and even longer for balanced political leadership
• Legislation ensures change happens and facilitates faster cultural change
• Change is needed urgently especially in light of the current global economic situation and economically empower women across the globe.

Arguments against:

• Implementing quotas would be a tokenistic gesture and undermine the achievements and capabilities of women
• Could negatively impact on the number of companies opting for publically listed status (some evidence of this has been seen in Norway)
• Need to enable organisations to evolve at a more natural pace and implement change more slowly rather than adopting a “big bang” approach