Insolvency and corporate finance have always been traditionally male-dominated fields. However, change is on the horizon, with more women pursuing roles in these industries. As expert recruiters, we have witnessed this shift firsthand, with many more female candidates on our books.
To celebrate International Women’s Day, we wanted to focus on the incredible impact women are making in both insolvency and corporate finance, what these mean for the industry and how much progress is still to be made. Keep reading to find out more.
Women in Insolvency
The insolvency industry has long been perceived as an old boys club. However, women are making significant strides in this field, taking on leadership roles, and bringing fresh perspectives to the complex financial challenges the world of insolvency brings.
That being said, gender bias, a lack of representation in senior roles, and work-life balance all remain challenges for women in the industry. Pay gaps persist, and boardroom representation remains a work in progress that has yet to be remedied.
This is not to say the industry isn’t changing. Many more women are now working in the profession compared to 10 years ago which is incredibly exciting to see. The benefit from a recruitment perspective is that we have been able to widen our talent pool with a much more diverse array of skilled candidates. While there’s undoubtedly still a long way to go, the future for women in insolvency looks bright.
Women in Corporate Finance
When it comes to women in corporate finance, similar gender challenges are apparent. M&A is still vastly male dominated across all facets whether this be in P.E, lead advisory M&A houses, accountancy practices and in the investment banks. However, we are now seeing many more women entering the industry and excelling in their roles. Inspiring women like Mary E. Erdoes, CEO of J.P. Morgan’s Asset and Wealth Management division, and Jane Fraser, the first woman to lead a major U.S. bank as Citigroup’s CEO, are prime examples of women breaking barriers and reshaping the world of finance.
Government data shows that as of 2023, over 40% of board positions in FTSE 350 companies are now held by women, a record-breaking milestone for female leadership in UK businesses. Although this progress is worth celebrating, senior leadership representation still remains low when compared to their male counterparts and the journey to these high-level positions for women can be paved with gender-based challenges.
Interested in finding out more about roles in corporate finance? Then read our blog on how to progress your career in M&A.
Driving Change
Despite more women entering the profession, the pipeline to senior roles remains narrow. Unconscious bias still influences hiring, promotions, and deal assignments so these are all issues that still need to be addressed. But how exactly? The answer to addressing these issues is complex but there are several ways in which companies can better support women in these industries.
A culture shift can be an uncomfortable conversation for many companies to have, but it is an essential part of making a business more inclusive and fairer for all. Addressing unconscious bias in hiring and promotions, creating policies to support women in the workplace, and nurturing female career development, are all key factors in driving meaningful change in both the insolvency and finance industries.
Mentorship programs and initiatives are other significant factors. Having senior leaders advocate for female talent helps open doors to leadership opportunities. Networking groups like IWIRC and Women in Banking & Finance (WIBF) provide platforms for women to connect, share experiences, and gain visibility within the insolvency and corporate finance industries.
At Gambit Search, we have placed many female candidates in roles at world-leading companies across both insolvency and corporate finance. Over the past decade, we have witnessed a significant shift, not only in the number of women entering these industries but also in companies actively seeking a wider range of talent than what they are typically used to.
Looking Ahead
While challenges undoubtedly remain, the push for fairer and more balanced workplaces in both insolvency and corporate finance is undeniable. More firms are recognising the value of diverse perspectives and the expertise that women bring, particularly in high-level positions. In fact, research shows that women in positions of power can improve businesses and increase productivity. Many insolvency and corporate finance firms are paying close attention to this type of research, and this is being reflected in their hiring choices.
So, what is the future for women in corporate finance and insolvency? As more women break into senior leadership roles, they pave the way for the next generation, proving that success in insolvency and corporate finance is not defined by gender but by talent, expertise, and determination. By continuing to challenge biases, support one another, and advocate for policy changes, we see both industries becoming more inclusive and richer places to work, with many exciting opportunities for women.
If you are looking for a new role in corporate finance or insolvency, then get in touch. Here at Gambit Search, we have over a decade of experience in matching outstanding candidates with the best roles in the market, from entry-level to leadership roles. Browse our current job openings or give us a call on 0203 633 2500
