Source: Bossa CZ via Facebook.
Research by Catalyst in 2017 demonstrates just how many obstacles women have to overcome to reach the top of the industry; even though 61.3% of accountants and 52.5% of financial managers in the United States were women, just 16.7% of the senior officials in investment banking were female. This shows the disconnect between the demographics of the American financial workforce and those who occupy senior positions. This makes the achievements of those women who have shone in the financial industry all the more monumental, as these individuals have challenged entrenched perceptions to demonstrate that both women and men can thrive at the top of the trading world.
Here is a look at just three of the women who have made waves in the financial industry.
Kathy Lien’s Wall Street career started when she was just 18, with this trading prodigy very much living up to her early-career potential. Lien slotted into JPMorgan Chase’s forex trading desks before starting DailyFX.com in 2003, a website that quickly became one of the authorities in online forex trading.
Lien boasts a wealth of knowledge on global currencies, with her familiarity with the subject making her the ideal candidate for leading news publications to call on when they require some special insight. With this kind of expertise, Lien may have well as written the book on trading; in fact, that’s exactly what she did as the author of Day Trading and Swing Trading the Currency Market.
By using cross-market analyses and deploying her wealth of experience to pre-empt market surprises, Lien is one of the leading voices in the world of forex trading.
Linda Bradford Raschke
Raschke is an extremely experienced trader who has seen and done it all, including granting her initials to both a commodity trading advisor (LBRGroup Inc.) and a commodity pool operator (LBR Asset Management). She began professional trading in 1981, which means that Raschke has had to adapt to the highs and lows in the US economy across several decades.
Renowned for her ability to perceive trading patterns and act accordingly, Raschke is motivated not by money but by the gratification that comes with outwitting the market. To stick it out in the competitive world of trading for so long is a testament to Raschke’s character, so it is no surprise that she has become one of the preeminent names in the industry.
This has given Raschke the chance to help bring through the next generation of traders, having taught aspiring professionals in over 20 countries and lectured on behalf of Bloomberg. The learning process in trading never ends, a result of the constantly changing nature of markets, but advice from experienced traders is the best resource for helping new people get to grips with the business. This is why Raschke’s willingness to share her expertise is invaluable to the industry.
Making it into Forbes’ “30 Under 30 in Finance” is a prestigious accolade for up-and-coming traders, although perhaps up-and-coming is not the right terminology. Maybe that’s why Lucy Baldwin made the list for two consecutive years, epitomizing how she has already arrived in the business. Baldwin graduated with a degree in Economics from the University of Birmingham in the United Kingdom, quickly going from strength to strength in the financial industry.
Baldwin was a Managing Director at Goldman Sachs and viewed as one of the brightest prospects in the firm before moving to Bank of America Merrill Lynch in October 2015. There, Baldwin works on the bank’s distribution efforts across Cash Equities, Equity Derivatives, Prime Brokerage and Financing.
Baldwin has noted how the possession of emotional intelligence and a strong IQ are some of the most important factors for both men and women to make it in the industry, also observing that the breakdown of males and females at the graduate level is 50-50. Baldwin acknowledges that making the change at senior level is the big obstacle but having more prominent female traders of Baldwin’s caliber will continue to usher in that change.
These are just three of the female traders who have made huge impacts in the financial sector but there are too many candidates to count who could have made this list. These outstanding women stand alongside trailblazers from the world of health tech, with Marina Pajtok overcoming the status quo to be made director of the Diagnostic Division at WIWE. There is a growing hope that the similar distribution of males and females in the workforce of these industries will be reflected at a senior management level in the near future.