WCM 2018 Watershed GalaThursday, April 19th 2018
6:00 PM to 9:00 PM
This year has been a Watershed moment for gender diversity. We anticipate that our 2018 Gala will be our most important and biggest Gala yet!
Please join us on April 19th for an evening of celebrating our Champions of Change, while networking with several hundred influential guests from Canada's financial community, who share a vision of accelerating gender diversity in our industry. Enjoy delicious gourmet food, artfully crafted drinks, entertainment, and exciting activations.
When & Where:
Thursday April 19, 2018
6:00pm - 9:00pm
Four Seasons Centre for the Performing Arts, 145 Queen St West
Early Bird Pricing: $275 + HST until March 19th
Regular Pricing: $325 + HST after March 19th
Business / Cocktail attire
Joanna Rotenberg is Group Head, BMO Wealth Management. She was appointed to this role in November 2016. Prior to this role she was Head, Personal Wealth Management. Joanna leads BMO's personal wealth management businesses including: BMO Nesbitt Burns, BMO InvestorLine, BMO Private Banking in Canada, the U.S. and Asia, and BMO Insurance. Joanna is also a member of the board of directors for Nesbitt Burns Holdings Corporation, she is the program executive sponsor for BMO for Women and a member of the bank's Executive Committee.
Joanna joined BMO Financial Group in 2010 as Head of Strategy, and in 2013 was appointed Chief Marketing Officer and Head of Strategy. In that role, she helped guide BMO's strategic decisions globally, brought BMO's brand and marketing efforts to life through innovative campaigns, and built out BMO's digital and analytic capabilities.
Prior to joining BMO, Joanna was a partner with McKinsey & Company's Toronto office and a leader in McKinsey's North American financial services practice, serving clients in wealth and asset management, banking and insurance. She also led McKinsey's North American retirement and consumer research initiatives.
Joanna is active within the Toronto community. She serves on the Sinai Health System Board of Directors, and acts as the Chair of the Operating Effectiveness and Technology Subcommittee. She is Chair of the Rotman Financial Services Advisory Board and a member of Ontario's Panel on Economic Growth and Prosperity. Joanna is also the 2018 Co-Chair of United Jewish Appeal's Bay Street Cabinet. In 2017, Joanna was selected by the Women's Executive Network (WXN) to join the list of Canada's Most Powerful Women: Top 100 Award Winners.
Joanna received her combined JD/MBA degree with distinction from the University of Toronto, and her BA with distinction from the University of Western Ontario. She is also a member of the New York Bar.
1. What is the gender diversity initiative you are most proud of at your organization? I am especially proud of our BMOforWomen program, which has made tremendous strides in the advancement of women in business. It is focused on serving the distinct needs of female clients. It provides resources and support to women business owners, such as education, networking and mentorship programs. For example, in November 2014 we announced that we would loan $2Bn to women-owned businesses by November 2017 - and we exceeded it! BMO for Women has also formed important partnerships, such as its recent collaboration on a study with Carleton University and the Beacon Agency to highlight challenges faced by female entrepreneurs, which are driving real change at the policy level. And finally, at BMO we try to lead by example, with women representing 40 per cent of our senior leaders in the United States and Canada.
2. Why is being a champion of gender diversity important to you? I have three children – a 9 year old son and 6 year old twins, a boy and a girl. My hope is that, by the time they are of the age to start working, there will not be any difference in the challenges my daughter faces, or the opportunities she's given compared to her twin brother, based on her gender. The other piece that I think is important, for my daughter in particular, is to lead by example. The more women we have in leadership positions in the private sector, running their own businesses or sitting in public office, the more positive role models girls will have. As is often said, for girls 'you have to see it to be it'. 3. What advice would you give someone who is trying to champion gender diversity? To remember that gender diversity should always be about creating equality. When BMO established its Diversity Renewal Council several years ago, we also focused on areas of our organization that typically have a high concentration of women to ensure we had diversity in those areas as well. It is important to have both women and men championing diversity. As an example, our CEO recently signed the We Need Both pledge to ensure all panels on gender advancement are as inclusive as possible. As leaders, we all need to walk the talk when it comes to diversity and inclusion!
Deland Kamanga is Head of Global Fixed Income Currencies and Commodities (FICC) within BMO Capital Markets. In this role, he has responsibility for origination, sales and trading of cash and derivatives products, including securitization, for BMO Capital Markets. The FICC group leverages Mr. Kamanga's extensive experience in cross asset structured derivatives, risk management and product innovation to deliver optimal solutions and efficiency for clients.
Prior to his current role, Mr. Kamanga was Co-Head, Global Structured Products (GSP), where he had responsibility for providing broad capital structuring solutions tailored to a wide spectrum of retail and institutional investor clients. Mr. Kamanga joined BMO Capital Markets in 2006 from a major Canadian bank.
Mr. Kamanga is a representative in various leadership committees, including the BMO Capital Markets Executive Committee. He holds a BA in Economics from the University of Western Ontario and he has been a CFA charter holder since 1995.
1. What is the gender diversity initiative you are most proud of at your organization? We have enhanced and relaunched our Sponsorship Program in Capital Markets – I think it's made a significant difference to the greatest number of women. Serving as Sponsor officially and unofficially to a number of women has allowed me to personally make a difference as well. When serving as a mentor your role is to advise, listen and model to help your mentee achieve their goals. As a sponsor your role is to continue with the aforementioned activities however more importantly you need to advocate on behalf of your protégé. This changes the conversation and encourages you and the protégé to focus on practical, measurable changes in behaviour that support that advocacy including the who, what, when, and how it transpires. In addition, we've added more formal involvement of protégé's mangers knowing that they are also a key stakeholder in the development and career advancement of our women. These enhancements have helped us become more impactful in the careers of our top Female performers. 2. What do you feel is the most significant change you/your organization could make to bring more women to the industry and more women into leadership? In terms of the pipeline, which continues to be a formidable challenge, we could do more during the school years starting with elementary school where there continues to be a pervasive difference in attitudes between the genders, and then in high-school we could increase our efforts in things like the WCM Job Shadow Day we're hosting this year. While University is for some too late, it's also where we have more opportunity to influence. We're doing this already via targeted campus recruiting efforts but can always do more and fine tune our approach. Lastly, we can continue to expand/leverage on our "returnship" programs like Return to Bay Street in Canada and Back to Business in New York – ensure women know that they can come back even if they've taken time away from the industry. So once we get them to apply, we need to hire them. We need to insist that the search firms we work with present us with a diverse slate of candidates – every time. Once they get here, we need to give women a chance at a variety of jobs. The most significant change we can make is encouraging our managers to remind women of the all the opportunities in our business and ask candidates to open their minds to a variety of opportunities. Too often, women self- select out of certain roles. We can educate our managers to this self- selection bias and encourage them to challenge women to try different roles. We also need to continue on our journey for more flexibility in the workplace that can allow women to be successful at work, and at home. We need to foster a culture and shift mindsets to ensure that women can go to their managers when they're thinking about making a change so we can have the conversation about what else is available. And finally, we also need to ensure that women are up development opportunities and promotion at the same rate as men. Programs like our Sponsorship Program will help. When female candidates have another voice at the table advocating on their behalf, to a potentially broader number of leaders, their chances for advancement should increase. The partnership between HR and the business on the analysis of promotion recommendations, as well as more focused development plans of diverse candidates on succession slates are a few things we've got under way and hope to make a difference. 3. Why is being a champion of gender diversity important to you? As a visible minority I can understand to a great extent although not completely the challenges women face in the workplace. As a result I feel it is very important to speak up as a male when the opportunity presents itself to provide an alternative view to conscious or unconscious bias. Through bias, however it originates, we are eliminating a significant portion of potentially strong contributors to our workforce. By including everyone and giving everyone a chance to compete we make our organizations better, our societies better and our countries better. I always think about how intelligent my Mother is but how she never received an equal opportunity for education or a career. This kept a highly capable person from competing for a job that went to someone somewhere who may not have been the absolutely best qualified for the organization. We can change that by allowing more qualified people to compete on an even playing field with as many reduced biases as possible.
Michelle Khalili is a Managing Director at CIBC Capital Markets in the Global Investment Banking division. She leads the natural resource coverage for the Private Capital team, which focuses on private pools of capital. Ms. Khalili is Chair of CIBC's Women's Network, a member of the Inclusion and Diversity Advisory Committee and a member of CIBC Capital Markets' Global Deals Committee.
Prior to rejoining CIBC in 2016, Ms. Khalili spent four years at Goldman Sachs as Head of Equity Capital Markets – Canada and was a member of Goldman Sachs Canada's Board of Directors. Prior to that, she spent 12 years in the Equity Capital Markets group at CIBC, working on the origination and execution of equity financings in Canada.
Ms. Khalili is currently a member of the Board of Directors for the Ontario Brain Institute and Women's College Hospital. She served as Vice-Chair and Board member of the Investment Industry Regulatory Organization of Canada, as well as a member of its Human Resources and Pension Committee, and is Past Chair of the 100 Women in Finance Committee in Canada. Ms. Khalili has also been involved in a number of community initiatives, including True Patriot Love, Canadian Women's Foundation, the Royal Ontario Museum and the Canadian Breast Cancer Foundation Run for the Cure.
Ms. Khalili earned a Bachelor of Commerce from the University of Toronto and qualified for Chartered Accountant and Chartered Financial Analyst designations.
1. Why is being a champion of gender diversity important to you? For me, being a champion of women is about bringing the best ideas to the table. The Capital Markets business is a dynamic environment requiring strong and strategic leadership, and multiple perspectives to provide the very best for our clients. I also believe organizations should strive to be reflective of the diversity of their client base. 2. What advice would you give someone who is trying to champion gender diversity? Both men and women can – and should – lead initiatives that champion gender-balanced leadership. The best way is to do this is through tone at the top and ensuring that management at all levels are invested in your goals. A good place to start is to get involved with existing initiatives and programs that help create network opportunities for women or promote executive mentoring and sponsorship. And, if that network isn't readily available to you, start one! CIBC, for example, has a very active Women's Network with over 3,000 members around the globe. The Network offers networking opportunities, training programs, coaching and mentorship to men and women across the organization and has expanded and strengthened our pipeline of female leaders. 3. What is the one thing you are most proud of when it comes to Diversity & Inclusion? I am most proud of the culture at CIBC and the commitment of our senior leadership to inclusion and diversity. Their support has been critical to integrate the importance of gender-balanced teams into all levels of the organization, including our programs, policies and internal processes. A good example is our bank's Disrupting Unconscious Bias training, which helps participants build inclusive leadership capabilities and practice new habits to disrupt bias in the talent cycle, as well as our support for Catalyst's Men Advocating for Real Change (MARC) program. Our bank's commitment to supporting advancement of women and inclusive workplaces is transforming not just the capital markets, but our community as a whole.
Brad Black is Managing Director and Global Head, Financial Solutions Group with CIBC Capital Markets. Mr. Black is responsible for the distribution of Global Markets products across the bank's vast institutional client segment. Among his many accomplishments over his 16 year career with CIBC, he has worked in all key areas of Capital Markets bringing a broad perspective to the business including advisory, cross-product and regulatory expertise. His team is one of the largest contributors to Capital Markets and successfully led many global initiatives to further CIBC's global footprint.
Mr. Black joined CIBC's Managing Director Selection Committee in 2018 and is also a part of CIBC's Global Leadership Team. From 2016 to 2018, he was a member of CIBC's Inclusion & Diversity Advisory Council, where he worked to establish sustainable gender balance across the firm, He is a member of the Capitalize 4 Kids Leadership Council, has served as Chair of CIBC Miracle Day and participated in CIBC's United Way Major Individual Giving Cabinet for several years. Mr. Black graduated from McMaster University and started his career with CIBC in 2001. He is a proud husband and blessed father of two wonderful daughters.
1. What is the gender diversity initiative you are most proud of at your organization? I am particularly proud of our commitment to lead with inclusion at CIBC. Recognizing and celebrating our differences is a crucial imperative at our bank and we have made great strides in support of gender balanced leadership. Last year, CIBC set a goal of having at least 30% women and 30% men on our Board of Directors and 30% to 35% women in board approved executive roles – both have been achieved. Within my own group, we ensure our bank's gender composition goals are championed by our senior management and are actioned through our intake programs. This focus on retention is a direct result of ongoing efforts to strengthen our talent pipeline, provide mentoring opportunities and interventions that disrupt traditional models of sponsorship that we on the Inclusion & Diversity Advisory Committee created and implemented. 2. Why is being a champion of gender diversity important to you? The Capital Markets Inclusion & Diversity Action Committee strongly believes that organizations with gender balanced leadership are more innovative and financially outperform those with more homogenous teams. Yet the importance of diversity, particularly on a sustainable basis, is more personal for me. I have been surrounded by strong and successful women from the start. From my mother, my wife, and the professional women who mentored me throughout my career, I have seen the valuable contributions women with diverse skills sets bring to the table. Most importantly, I want my two daughters to know their father challenged norms and made every effort to enact real change. 3. How can we engage more men in accelerating gender diversity in capital markets? Men play a critical role in the conversation around gender balanced leadership. It begins with accepting that behavioural roadblocks exist on the journey and we all have a role to play in understanding that we all have biases. Through educational programs, such as CIBC's Disrupting Unconscious Bias and Catalyst's Men Advocating Real Change (MARC), men have the opportunity to develop new habits to help move the dial for addressing common challenges.
Christine Helsdon Tekker has more than 20 years of capital markets experience in corporate banking, syndications, portfolio management and credit risk.
As the Managing Director and Head of Canadian Credit within Manulife's Investment Division, Christine focuses on Manulife's balance sheet credit investment strategy. In this capacity, Christine's responsibilities include public bonds, private debt, project finance and P3 fixed income investments. While most of her career has been based in Toronto, Christine spent the early years working for an investment bank in London, England. Since returning to Canada, she has led teams with a focus on credit portfolio management. She has also shared this passion as MBA faculty at York University's Schulich School of Business.
Christine has been active in Diversity and Inclusion workplace initiatives for many years. Externally, she is a board member of the YWCA Toronto, an organization that helps our community's most vulnerable women. Christine holds an MBA and LLM. Outside of work, she and her husband spend a lot of time at swimming pools with their two teenaged competitive swimmers!
1. Why is being a champion of gender diversity important to you? Being a champion of gender diversity is motivated by my own experiences, but I have also been inspired by leaders who challenge the status quo. Working in capital markets has personally led to global opportunities, continuous learning and working with inspiring colleagues. It is an exceptional industry in which to pursue a career. As a critical part of the global economy, capital markets should attract and retain talent that is merit-based and gender-agnostic. However, there continues to be an under-representation of women, particularly in leadership. Imagine if we could:
Bernard Letendre brings 23 years of experience in the financial services industry to his role as Head of Wealth and Asset Management, Canada and President and CEO, Manulife Investments. Before joining Manulife Investments, Bernard was Managing Director of Manulife Private Wealth and held leadership positions at BMO Private Banking, Standard Life and Investors Group.
Bernard holds a Bachelor and a Master's degree in law from the University of Montreal, is a member of the Quebec Bar and is a published legal author. An active blogger on matters of leadership, corporate culture and social responsibility, Bernard is a member of Manulife's Global Diversity and Inclusion Committee, he is the Co-Executive sponsor of one of Manulife's largest Global Women's Alliance chapters and has held Board positions with a number of high-profile, non-profit organizations including: Les Grand Ballets Canadiens de Montreal, the National Gallery of Canada Foundation and La Fondation du Dr. Julien. Bernard is a Director and a member of the Executive Committee of the Investment Fund Institute of Canada (IFIC), and chairs the organization's Strategic Research Committee.
Bernard has been practicing Judo for almost 37 years, holds a third-degree black belt and is an instructor at the University of Toronto Judo Club. He lives in Toronto with his wife and three children.
1. What do you feel is the most significant change you/your organization could make to bring more women to the industry and more women into leadership? One of the keys to attracting more women to our industry and retaining them over the long term, I have come to believe, is to make it possible for them, at different stages of their lives, to manage the combined demands of their careers and their personal lives. Having learned from my own mistakes and experiences, I am now extremely skeptical of the view that people should be measured by the number of hours that they put in at work. As a result, I try to give people some control over their lives; to foster an environment where people don't feel pressured to work constantly, as I felt I had to do when I first started in the industry:
Linda was appointed in this position in 2006 and has been with the firm since 1983. Linda has held progressively more senior roles in the National Bank of Canada group of companies over the past 3 decades, her most recent position being head of Securitization. In this role, Linda oversees all securitization activities for the firm which includes asset-backed commercial paper programs, asset-backed securities, commercial mortgage-backed securities and covered bonds, in both private and public markets. Her group is responsible for business development and origination, transactions structuring and ongoing monitoring. Prior to this position, Linda held various positions, mainly in client facing roles, such as Senior Manager in the Government Banking Group, Branch Manager and Auditor. Linda earned her MBA, financial services in 2002 from the Université du Quebec a Montreal. She has two daughters and presently lives in Montréal. 1. What do you think the biggest focus of gender diversity and inclusion should be? How can we be innovative? Still today, mothers feel absolutely torn between prioritizing their career or their family. Women still feel they must choose between taking a year off to raise their infant or advance their career. It is sad that as a society we can't implement choices that truly prioritize family without hindering a parent's career. What do we tell parents before they leave, so they may make a decision without feeling they must sacrifice their career to have children? What do we offer them upon their return so that they don't feel they are stepping back and starting from zero? This can no longer be a zero-sum game; we must be innovative so parents don't feel it's one or the other. And this does not apply to women only; as fathers increasingly take paternity leave, they are faced with those same though decisions. Organizations need to start looking at parental leave differently – it is not a cost; it's an investment. If our people feel happier with their work-life balance, if they feel parenthood has no effect on their career advancement, they will be more engaged – and employee engagement drives corporate success. We can offer different concepts such as flexible hours, reduced responsibilities, etc. to offer parents better alternatives. In addition, I believe the answer is more towards career planning and coaching, then compensation. 2. What do you perceive is the biggest challenge with gender diversity? I believe the biggest challenge is that there is unfortunately not one simple reason for the lack of gender diversity. If there was one main reason, great efforts would be invested to change the situation. Full diversity would rapidly take place and a natural equilibrium based on individual capacity, qualities, potential and skills with no consideration for gender would exist. But study after study has shown that in real life, it is more complex. While programs at National Bank such as university presentations and scholarships have shown results in terms of recruitment of women, we should also be looking at what happens once they are working. We must educate those front line managers who on a daily basis play a crucial role in supporting the advancement of each member of their team. I think there may still be bias in the process, but mostly unconscious ones and just out of "old habits". Many years ago, we design this work place with the men profile in mind; and while we now want to give equal opportunity to women, have we redesign the profile? Must we redesign the corporate structure? Do we, at all levels have the required knowledge and approach to play our coaching role and lead by example in a truly gender neutral environment? In other words, let's teach the coaches. It's time to review and update our management skills for the new reality. 3. How can we engage more men in accelerating gender diversity in capital markets? I work in a male dominated sector, but feel valued and fully respected daily. Men and women have both come a long way to seek improvement in gender equality. And while corporations are implementing programs to accelerate gender diversity, we must each ask ourselves what we can do as individuals. After all, men are also affected by gender related issues, whether through family members or female colleagues not getting the credit or opportunities they deserve. Because of this, I don't think men lack incentives to reach more gender diversity. This is an issue that is personal to most individuals, and we need to show the value of each contribution. Many senior male leaders in our industry have done a great job of stepping up and getting involved. Let's use these engaged men as role models for their junior counterparts; let's include them in committees, initiatives and discussions. While I don't have a secret formula to engage more people, I believe it has to 'feel' personal. It is one by one that progress will be made.
Sunil Bhutani is Managing Director, Head of Government Finance and Syndication, at National Bank Financial. He is also a member of the Fixed Income Management Committee.
In addition to his professional responsibilities, Sunil is the Financial Markets representative on National Bank's Diversity Task Force. In this capacity, he plays an integral role leading the Bank's diversity initiatives. Sunil serves as a Financial Markets co-chair for the United Way Campaign and is also involved with a number of other educational and charitable organizations.
Sunil has over 20 years experience providing capital markets advice to all levels of government. He has an un-paralleled track record leading deals for Provincial, Federal and Municipal governments across Canada. Prior to joining NBF in 2013, he was Head of Government Finance at CIBC.
Sunil is a Chartered Professional Accountant and has an MBA from the Schulich School of Business.
1. What is the gender diversity initiative you are most proud of at your organization? At National Bank, diversity and inclusion are an integral part of our culture within all levels of the organization. I am most proud of the fact that it is in our DNA. Its shows in the way we hire, mentor, retain and promote talented women within the organization. Currently women hold 48% of senior management positions. Our goal is to continue to be an employer of choice within the industry for women. 2. What do you feel is the most significant change you/your organization could make to bring more women to the industry and more women into leadership? National Bank's Women's Leadership Network and Women in Financial Markets Scholarship are some of the initiatives we have taken to better familiarize women with the industry and as well as provide mentoring opportunities. Through these initiatives, women are able to increase their knowledge of the Bank, expand their professional network and improve their leadership skills. To me it is less an issue about talent attraction but more about talent retention. I think it is critical to focus on mentorship, sponsorship and the development of career paths for high-potential women by both senior female and male executives within the organization. 3. Why is being a champion of gender diversity important to you? As the husband to a very successful capital markets woman and the father to a teenage girl, it is very clear to me that women bring a unique perspective based on different life experiences. As the Financial Markets representative on National Bank's Diversity Task Force, I am passionate about seeing strong women succeed and lead.
Nicole Musicco joined Ontario Teachers' in 2002 in Private Capital, where she held positions of increasing responsibility. She was instrumental in establishing the Asia Pacific regional office in Hong Kong, which opened in 2013. She relocated there as Regional Managing Director in 2015, where she had the oversight responsibility for managing the full cycle of Ontario Teachers' opportunity in origination, analysis, value creation and execution of investment activities in Asia Pacific. In 2017, Nicole returned to Toronto as Senior Managing Director, Public Equities. Nicole holds a MBA from the Richard Ivey School of Business as well as a Bachelor of Business Administration and Bachelor of Science Kinesiology from the University of Western Ontario. 1. What is the gender diversity initiative you are most proud of at your organization? I'm most proud of the Diversity & Inclusion Committee because it's an important first step to making gender diversity a top strategic priority at Ontario Teachers' and recognizing it as a key performance enhancer within the financial industry. This committee was set up to allow more women to reach top leadership positions by implementing structural and cultural changes in our organization. The committee is looking at the entire employee lifecycle – from our hiring and recruiting practices to mid-career mentoring to succession planning – to promote gender diversity. We are starting with gender diversity, but recognize many of the same principles apply to issues around inclusion. 2. Why is being a champion of gender diversity important to you? Women continue to be underrepresented in leadership positions despite persistent messaging around the importance of gender diversity for innovative thinking and enhanced overall performance. Having a senior woman's voice, and more importantly, tangible action and initiatives, is key to ensuring gender diversity is at forefront of the talent management agenda. I have benefited greatly from female mentors in my career – and I wish there had been more of them. When women are given the opportunity to support other women, amazing things happen. As a Champion for Change, I hope to pay-forward the tremendous support I have received from female mentors over the years, and engage with male champions for gender diversity to further the initiative. 3. By 2030, I envision a Canadian capital markets that... ... has leveraged influential leaders, both male and female, to introduce initiatives that level the playing field for women to rise to top leadership positions. We will have been able to move on from "gender diversity" being an issue to being well on our way to tackling "inclusion" issues in lock-step. This requires change in culture and organizational practices to ensure unconscious biases are not getting in way of women becoming successful leaders in their organizations. It requires more than taglines, committees and sponsoring dinners – we need to put actions in place to restructure how we think, communicate and act to ensure any barriers that exist come down.
Jeff joined Ontario Teachers' in 2004 and was subsequently promoted to Vice-President and Associate General Counsel in 2010. In 2014, he was appointed General Counsel, Corporate Secretary and Senior Vice-President, Corporate Affairs and now holds the position of Chief Legal & Corporate Affairs Officer, General Counsel.
Before joining Teachers', Jeff was Senior Vice-President, Corporate and Legal Affairs, at InsLogic Corp., and a Corporate Associate at Torys LLP. In 2009, Jeff was named one of Lexpert's Rising Stars - Leading Lawyers Under 40, and a finalist in the Dealmaking category of the Canadian General Counsel Awards. Jeff earned an LLB from Osgoode Hall Law School and a BA from the University of Western Ontario.
1. Why is being a champion of gender diversity important to you? Over the course of my career, I've been coached and mentored by women. I've tried to contribute to the conversation on gender dynamics. I've learned that trying to understand the world without a gender diversity lens provides a distorted version of life and society. Our world continues to be shaped by systemic or outright discrimination, where there are far less opportunities for women than there are men. In my lifetime, I will do my part to change these dynamics, to eliminate these injustices where I encounter them, and make sure that perspective and intellect of women shapes the future of my industry. 2. Describe what this Watershed moment means to you in terms of gender diversity: It means it is time to act. While many have been trying to effect change for decades, the #metoo movement has provided a power of voice unlike anything we have seen in history. This critical moment has forced industry to stop and take a close look at itself, to discover the injustices it has contributed or enabled. I am trying to use my leadership position at Ontario Teachers' to ignite our organization and the industry in general to go through a period of self-reflection and change. This watershed moment means those changes are possible more than ever before. 3. How can we engage more men in accelerating gender diversity in capital markets? I think it is important to focus on education and encouragement with men. Specifically, I think there needs to be a dialogue engaging men to contribute to the change, rather than fear getting involved. I think male leaders speaking out on the subject of gender diversity is a critical part of this, to role model how they can contribute to providing more opportunities for women, and reducing discrimination in the workplace. For real change, this will take a sustained educational effort using both female and male role models, helping men better understand the issues that need to change.
Lindsay Patrick is the Global ETF Strategist for RBC Capital Markets in Toronto, spearheading the RBC Capital Markets research product and sales efforts for Exchange Traded Funds. She has more than 15 years of global investment experience spanning trading floors across North America, Europe, Australia and Asia. Lindsay started her career with RBC Capital Markets in M&A Investment Banking in Toronto and she recently returned following a 10-year stint overseas with Bank of America Merrill Lynch in London where she held a variety of positions in the Global Equities and Equities Derivatives groups. She is the incoming Co-Chair for R-Women Canada, RBC Capital Markets' employee led-resource group dedicated to fostering women's career development within the bank, and is actively involved with the Women in Capital Markets' Return to Bay Street program. Lindsay received her MBA with Honours in Finance from The Wharton School at the University of Pennsylvania, her BBA with Honours in International Business from Bishop's University and is a CFA Charterholder. She is also on the Board of Directors for Children First Canada and is an active volunteer with the Halton District School Board and the Oakville Rangers Hockey Club. Lindsay is married and the proud mother of four boys. 1. What is the gender diversity initiative you are most proud of at your organization? I am most proud the of launch of RLDR – the RBC Women's Leadership MSCI Canada Index ETF – an RBC fund that invests in Canadian companies that are leaders in gender diversity at the board level. The ETF was launched on March 8 (International Women's Day) and brings together both institutional and retail investors who are looking for a diversified Canadian equity fund, but who also want their investments to have a positive social impact and reward good governance practices. It has been a great collaboration across many different groups at RBC, and it has been incredible to see the support this initiative received from so many senior leaders across the bank who believe in the power of diversity and inclusion. 2. Why is being a champion of gender diversity important to you? It was only later in my career that I felt it was important to champion gender diversity. In the early days, I just wanted to fit in, work hard and be recognized for my professional accomplishments. This changed during my first maternity leave when I was promoted to Director and came back to work with a different perspective, seeing first-hand how much unconscious bias still exists in the industry. I became a mentor to young women in my firm, an advocate for flexible working and took a six-year career break to care for my young family. By championing gender diversity, I hope to change some of the perceptions that exist about what the "typical" capital markets career path is – there are many roads to success, even if there are some diversions along the way. 3. What do you think the biggest focus of gender diversity and inclusion should be? How can we be innovative? The focus should be on creating a corporate culture that values diversity of thought and rewards inclusive behaviour. At RBC, one of our diversity mantras is "Speak Up for Inclusion" – active engagement and empowering people to speak up when change is needed, and being the driver of the change, is an important part of this. Our industry as a whole needs to get better at breaking down the silos and including more perspectives in the management of our businesses – including younger employees, women, visible minorities and newcomers, and LGBT+. We need active sponsorship of our diverse, high-potential employees that is on-going, not just for a short time period, to ensure the industry has more diverse leadership at senior levels. There needs to be better transparency on pay and promotions. Lastly, we need industry data so that we can share best practices across the street to bring the standards up for everyone.
Jonathan Hunter has served as Global Head of Fixed Income, Currencies and Commodities (FICC) at RBC Capital Markets since 2011, and is a member of the RBC Capital Markets Operating Committee. Jonathan has been with RBC for more than 25 years, joining the Dealer Trainee Program in 1991. Since then, he has held progressively senior roles within Capital Markets, including Global Co-Head, Fixed Income and Currencies (2006-2011), based in New York, and Global Head of Liquid Products (2002-2006), based in London.
Today, Jonathan leads a team of more than 700 professionals globally and is responsible for growing the FICC business into a significant contributor to RBC Capital Markets' earnings.
Jonathan recently served an eight-year term as a Director of the Board of the International Swaps and Derivatives Association (ISDA). He is actively involved in the firm's various diversity, mentorship and recruitment initiatives, and currently serves as Chair of the Board of Trustees, and sits on the Board of Governors, for The Bishop Strachan School in Toronto.
Jonathan is a key participant in RBC's many community and charitable initiatives, including the RBC Race for the Kids, and he serves as a member of the United Way's Major Individual Gifts cabinet as part of RBC's annual Employee Giving Campaign.
Jonathan earned his Honours Bachelor of Commerce Degree (Finance) from Queen's University in 1991, and is a Chartered Financial Analyst (CFA). He lives in Toronto with his wife and three children.
1. What do you feel is the most significant change you/your organization could make to bring more women to the industry and more women into leadership? I think it's important that we collectively continue to debunk the myths of a trade floor working environment for women. The environment has certainly changed for the better, but there's still more work to do. That requires both women and men in our organization to continue to speak up about why gender equality matters in our industry, and challenge our own conscious and unconscious biases to make sure we're moving the dial every day. I want to ensure we are consistently supporting an environment in which women feel comfortable and confident in putting their hands up for challenging leadership positions and that they are getting the right sponsorship and support to thrive and advance in their careers. 2. Why is being a champion of gender diversity important to you? It's a fast changing world and we need fresh perspectives. Supporting gender diversity at RBC Capital Markets is not only the right thing to do, but my employees expect nothing less from me. Many of our key clients also expect diverse perspectives and experiences in their interactions with us. Diversity is a driver of good business outcomes and it's great for our culture. It's important to me and my management team that we continue to focus on diversity and inclusion together and seek new opportunities to further the recruitment, retention and trajectory of women at our firm and in our industry. 3. What is the one thing you are most proud of when it comes to Diversity & Inclusion? I would say the one thing I've noticed is that, in the past, it felt as though there were varying degrees of support for diversity initiatives. Today, everything from hiring practices to team make-up and talent management, it's been the collective global team driving these efforts. I like to say the training wheels are off and this is all very much part of our business as usual! And while I'm really proud of how far we've come and the progress we've made as an organization, we know we still have some progress to make in attracting and retaining more talented women, and particularly in supporting the development and advancement of women into senior roles. This is very much a priority for our firm and for me personally.
Andi Sabada is responsible for leading the Global Business Payments, Sales team which provides cash management, trade finance and correspondent banking products, services and solutions to clients in North America, Europe and Asia. Andi joined Scotiabank in 1992 and over the years assumed increasingly senior roles in Employment Law, Global Risk Management, and Global Banking & Markets. In December 2014, Andi assumed leadership of the Global Transaction Banking Project Management Office and in April 2015 was appointed to lead Global Transaction Banking, Sales (recently rebranded as Global Business Payments, Sales). Andi graduated from Acadia University with a B.A. and earned an LL.B. from the University of New Brunswick. Andi was called to the Bar in Ontario in 1989 and is a member of the Law Society of Upper Canada. Andi is an active champion of Global Banking & Market's Diversity & Inclusion strategy and a member of its D&I Steering Committee. Andi is a Co-Chair of Women United, a charitable organization under the United Way's umbrella that supports vulnerable women's improved financial literacy and life skills, and is a member of the 2018 United Way Greater Toronto Campaign Cabinet. 1. What is the gender diversity initiative you are most proud of at your organization? The establishment of a Diversity & Inclusion Office that sits within Global Banking and Markets is the gender diversity initiative I am most proud of. The Office has allowed us to put a spotlight on the importance of gender diversity in a meaningful way and to tailor our messaging and activities to the particular needs of our capital markets business. We were also the first Canadian bank to have a Diversity & Inclusion Office established within our capital markets division and I am proud that we are market leading in our approach. 2. Why is being a champion of gender diversity important to you? I joined Scotiabank in 1992 when there were very few female leaders within our organization, but I aspired to become one. Early on in my career, I was fortunate to have both male and female mentors and champions who took an interest in my career, who assisted me in identifying areas of development and facilitated opportunities for me to grow. These senior Scotiabankers were all champions of gender diversity before we used that term – they wanted to ensure that I had access to the opportunities the Bank had to offer. I have always believed that I have a duty to ensure that I do the same for others. Diversity is necessary for our business as it leads to better decision making, better reflects the client base we serve and provides an enhanced employee experience and environment. 3. What advice would you give to someone who is trying to champion gender diversity? For change to truly take place in large organizations, it needs to be rationally connected to the business, properly socialized and is generally incremental. I would suggest talking about why gender diversity is important to your business and to your clients. Remember that small steps forward matter and every day presents an opportunity to champion gender diversity. Be accessible to women and encourage them to apply for new opportunities within your organization. Ensure that posted job openings have been scrutinized so that position descriptions do not have gender bias built into them and have at least one woman in each candidate pool. Take part in panel interviews and require your colleagues to do the same. Ensure that a woman is on each panel to provide her perspective on the candidates. Speak up when you see a policy that appears to be inherently biased. Each of these actions will matter to someone within your organization and someone wishing to join it. Taken together, these actions will amount to meaningful change.
Kieran is currently leading Scotiabank's Global Equity Derivatives and Investor Solutions Businesses. Based in Toronto, he manages teams in Toronto, New York, London and Hong Kong responsible for Scotiabank's structured notes business, options and index trading together with other equity derivatives offerings. Kieran serves on several Scotiabank committees, including Scotiabank's Reputational Risk Committee.
Kieran joined Scotiabank in 2003 and over the years has held progressively senior roles in Scotiabank's Capital Markets Group. Prior to joining Scotiabank, Kieran was a partner at Stikeman Elliott LLP with a practice including corporate finance, mergers and acquisitions and structured transactions.
Kieran graduated with a Bachelor of Science degree from McMaster University in 1988, an M.B.A. from McMaster University in 1990 and a LL.B. from University of Toronto in 1993. Kieran was called to the Bar in Ontario in 1995 and is a member of the Law Society of Upper Canada. Kieran is a Champion of Change under Global Banking & Market's Diversity & Inclusion strategy. Kieran is married and has three daughters.
1. Why is being a champion of gender diversity important to you?
Being a champion of gender diversity reflects my basic values. I see it as a natural extension of providing all people with equal opportunity.
I lost my father as a young boy and witnessed my mom raise five children alone with very modest means. Her strength of character and ability to provide for us while also providing parental guidance was an inspiration. She worked long hours and soon after losing my father, lost her nursing accreditation due to bureaucratic issues relating to being trained overseas. Nonetheless she persevered and found work in another female-dominated industry with quite low wages.
My wife works in the capital markets industry and I have witnessed the additional challenges she faces. As a father of three daughters, I want to ensure that I champion gender diversity in the hope that their generation will benefit.
Last year, I lost a child as a result of mental health issues that were in part triggered by harassment and gender identity issues. This experience has served to further sharpen my focus on diversity-related issues.
2. What do you perceive as being the biggest challenge with gender diversity?
I believe that the biggest challenge with gender diversity in capital markets is structural. Roles in the industry often come with expectations that were shaped from times when there was less diversity. Society is constantly evolving and it is important to evolve with it. Our customers expect that gender diversity is a key priority for capital markets organizations and are making it a precondition of doing business.
Personally, I am experiencing the value of diversity in the group that I manage. In addition to having a much higher than average proportion of female employees in our group, we also benefit from diverse educational and societal backgrounds. The group is very collaborative and works together to brainstorm and develop creative solutions for clients and the business generally. In a capital markets world facing difficult market conditions and regulatory challenges, I feel our group has gained an edge from its diverse composition.
3. By 2030, I envision a Canadian capital markets that...
... has made substantial progress on gender diversity but has more work to do. I believe we will see greater board and senior management representation but fear that some structural impediments based on gender assumptions may persist. The degree to which progress will be made will depend on the Canadian capital markets organizations' ability to retain female employees. In my view, it is easier to make progress on hiring and promotion than it is to ensure top talent is retained. To make progress on this, the structural impediments need to be identified, torn apart and rebuilt. This will take time, creativity and investment. While I believe substantial progress will be made in the next 12 years, this initiative remains in its early stages. While its value will be increasingly recognized, I believe it will take longer than 12 years to remediate the multiple generations of experience that have shaped Canadian capital markets.
As Vice President, Technology Solutions Delivery, Daphne is responsible for Reference Data, Banking Operations, Regulatory, Compliance and Investment Banking Technology at TD Securities. She manages a global team, with employees in Toronto, New York, London and Singapore. Daphne is a graduate of New York University and has more than 20 years of experience in the financial services industry. Since joining TD Securities in 2009, Daphne has been a committed member of the Women in Leadership community, a champion for the advancement of women and an active mentor. She is currently Chair of the TD Securities Parental Leave Committee, whose goal is to improve the parental leave experience for all employees. Daphne lives in Toronto with her husband and son. 1. What is the gender diversity initiative you are most proud of at your organization? After my maternity leave, I was asked to chair the newly created Parental Leave Committee, and I am very proud of what we've accomplished in a relatively short time. With tremendous encouragement from our senior leadership team, we've created a support network to help ensure a consistent and positive parental leave experience for all TD Securities employees. This includes providing consolidated resources and tools for parents who are going on or returning from leave, producing educational materials for their managers, establishing a buddy system that provides peer-to-peer guidance, and creating a Mothers' Room where mothers who are still nursing can pump in a comfortable, private setting. 2. What do you feel is the most significant change you/your organization could make to bring more women to the industry and more women into leadership? We need to more actively showcase the many women who have both successful capital markets careers and successful lives outside of work, whether that involves a family, volunteer commitments or other interests. To encourage more female participation in capital markets, we should increase the visibility of these women in the media, the community and our recruiting efforts. In particular, we need to begin our educational efforts at the high school level so the female leaders of the future see capital markets as a viable and fulfilling career choice. 3. What is the one thing you are most proud of when it comes to diversity and inclusion? I'm very proud of the emphasis that TD Securities places on diversity and inclusion. We consider them critical components of success, so these are not things we simply talk about — we are actively focused on attracting, developing and promoting diverse employees and ensuring an inclusive workplace. Having employees with diverse perspectives, backgrounds and experiences allows us to analyze situations more thoroughly and develop better solutions, while creating an inclusive workplace allows our employees to flourish.
Mr. McQueen has over 20 years of experience in finance, corporate lending and counterparty credit risk assessment, as well as other credit related initiatives at TD. His experiences have included more than 6+ years of international experience, as Region Head, Credit Management, Asia Pacific from our Tokyo branch, and as Branch Manager and Country Head, TD Sydney Branch. Mr. McQueen has performed a number of credit risk related roles, including counterparty and corporate credit management and adjudication responsibilities, and is currently managing TDBFG Capital Markets Risk Management team, including responsibilities for global reporting of counterparty credit and market risk exposures.
Mr. McQueen is a Chartered Professional Accountant and holds a Bachelor of Administration, with first class honours from Brock University.
1. What is the gender diversity initiative you are most proud of at your organization? TD's Risk Management Inclusion and Diversity Leadership Council (IDLC), which we formed several years ago, was a big step taken to address not only gender diversity, but diversity across all areas—be it visible minorities, Aboriginals, the LGBT community or people with disabilities. A specific pillar was established to support gender diversity across Risk Management, called Women in Leadership. The IDLC is committed to advancing diversity and ensuring that Risk Management is a welcoming and inclusive place where everyone feels they can bring their whole self to work. I sit as a co-chair of the Risk Management Women in Leadership Committee, where we focus on bringing more women into Risk Management and helping them grow their careers. We have put a big effort into listening to women in Risk Management to better understand what they believe are barriers to their success. We learned a great deal from listening and are now tailoring our programs to focus on these issues with the intent of tearing down those barriers. I'm proud of the work the WIL team has done to date and we are excited with what is next on the agenda for 2018. We have made some progress of gender diversity, but there's still more work to do and I'm excited to tackle it. 2. What advice would you give someone who is trying to champion gender diversity? First, good on you for recognizing the importance of it. We need more champions—both men and women—of gender diversity. The biggest piece of advice I can give is that gender diversity has to be aligned with your overall people development strategy. This is what I've learned over the last few years. There are over 450 people working on my team—the majority of them are millennials. We wanted to know how we could be the best place for them to work, so we asked them what the pain points in their job are. About 60% said that it was their own development. We knew we needed to put more of a focus on developing our people. We incorporated gender diversity into our full people strategy and we continue to work on it. Our team wants to see greater diversity in their workplace and they want to know that there are opportunities for them at TD going beyond just the next few years. Focusing on gender diversity—recruiting more women and giving them more opportunities for growth—has allowed us to address both those issues head-on. The other advice I'd give is to recognize that there is a strong business case for gender diversity in the workplace. Unhappy employees aren't going to be the most productive, and employees who feel that their workplace is not an open, welcoming place are not going to be happy. So gender diversity has a good economic argument behind it, and it's also just the right thing to do. 3. What do you think the biggest focus of gender diversity and inclusion should be? How can we be innovative? Recruitment needs to be our biggest focus. We now have more women graduating from universities than men, but that's not fully reflected in our hiring. I have to wonder if there is still a bias that favours men over women when it comes to recruitment and promotion. Maybe it's not one that is explicit—such as a hiring manager passing over someone because of her gender—but we should do all we can to make recruitment as gender-blind as possible. We also need to think about opportunities for female students as they go through university. Are they getting the chance to get the best experience as part of their co-ops or summer jobs? Are there mentorship or sponsorship opportunities for them during the school year? Are there voices that are encouraging them to explore finance or risk or the trading floor, or any other places that are more male-dominated? And once they're in our workplaces, are there opportunities for them to network and gain experience so that they can advance in their careers? And I think we need to make our values clear with our clients. If we are committed to ensuring gender diversity at TDS and across Risk Management, we should be willing to influence our clients and our business partners to achieve their own diversity and inclusion goals. If all of the big banks start making a big deal of diversity with our clients, maybe they'll also realize the importance of it in their own workplaces.