Tags: Women in Finance

To the Women of STA

By Julie Andress

KeyBanc Capital Markets & STA WIF Co-Chair

Finding the proper balance on how we allocate our precious time can be overwhelming. For the vast majority of us, finding enough time for family, friends and career is challenging enough, but if you add community service to the equation, words like “impossible” and “sorry, I can’t” come to mind. It appears community service finishes a distant fourth, if it finishes at all, not because of a lack of desire, but with busy lives, it can be hard to find time to volunteer. However, the benefits can be significant to you and your community. Even helping with the smallest tasks can make a real difference to organizations in need, and dedicating your time as a volunteer helps you expand your network and boost your professional and social skills. 

Each year nearly 240 individuals across North America give their time to serve on any one of STA’s 24 affiliate boards in the U.S. and Canada. All of these individuals are paying it forward in an effort and desire to improve our industry not just for today, but for the next generation as well. 

While some question if Winston Churchill uttered the quote, “We make a living by what we get, but we make a life by what we give,” these powerful words remind us that service to others has its own rewards to those who give their time in doing so. In other words, there is fulfillment in community service. 

Each year nearly 240 individuals across North America give their time to serve on any one of STA’s 24 affiliate boards in the U.S. and Canada. All of these individuals are paying it forward in an effort and desire to improve our industry not just for today, but for the next generation as well. While all of these individuals deserve our appreciation, this month we wanted to say thank you and provide recognition to a subset, the Women of STA.

Today more than 25 percent of STA affiliate boards are comprised of women in the financial services industry. While this figure under represents the overall figures of women in finance, it is an improvement and more importantly, a large enough figure to build cultures of inclusion that promote and sustain a sense of belonging for other women across the network of STA affiliates.

Their names and affiliate organizations are listed below. If you know any of them, please take a moment to thank them for their service to our industry. Appreciation for their efforts to lead and inspire others to do the same is well deserved. 

  • Julie Andress, KeyBanc Capital Markets, National
  • Lauren Arbid, ABN Amro Clearing, Chicago
  • Jill Bartell, Quest Investment Management, Portland
  • Krissy Bernstein, Stifel Nicolaus, Mid-Atlantic
  • Andrea Brake, ATB Investment Management, Canada
  • Sue Buchanan, Scotiabank, Canada
  • Nanette Buziak, Voya, Connecticut
  • Sandy Chism, Kansas City Capital Associates, Kansas City
  • Karen Couldrey, Scotiabank, Canada
  • Brittnee Dalton, Globalt, Georgia
  • Emma Danyliuk, CPP Investments, Canada
  • Danielle Dayan, ACS Execution, Chicago
  • Laura Delaney, Virtu, Dallas
  • Alia Durbarry, Mackenzie Investments, Canada
  • Joanna Fields, Aplomb Strategies, New York
  • Regina Frate, SASCO Capital, Connecticut
  • Bethany Graham, Cboe Global Markets, Chicago
  • Linda Heuman, Fifth Third Bank, Ohio
  • Lisa Jacque, BNP Paribas, San Francisco
  • Karen Jardim, AltaCorp Capital, Canada
  • Helen Kang, TPG, San Francisco
  • Gina King, The Interstate Group, Carolina
  • Patricia Koetzner, Siebert, Williams, Shank, National
  • Beatrix Kondor, BTIG, Georgia
  • Ginny Kowalczyk, Cboe Global Markets, Chicago
  • Christina Kowalski, Conestoga Capital Advisors, Philadelphia
  • Jill Kreutz, BTIG, Dallas
  • Ann Claire Lathem, Montag, Georgia
  • Stephanie Libien, Jefferies, San Francisco
  • Agata Lipinski, Colt, Chicago
  • Rosanne Lissow, Decatur Capital Management, Carolina
  • Nanette Marks, ISC Global, St. Louis
  • Claudette Mason, FBR Riley, Boston
  • Kate McAllister, Global Liquidity Partners, National
  • Lauren Miller, Jefferies, San Francisco
  • Kat Miller, Stifel Nicolaus, St. Louis
  • Stephanie Minister, Liquidity Book, National
  • Janice Morgan-Hilsman, StoneX, Florida
  • Janhavi Nandre, Mackenzie Investments, Canada
  • Jennifer Nayar, Vela Trading, New York
  • Kirsten Neuendorff, RBC Global Asset Management, Canada
  • Nora Nicols, Fiduciary Management, Wisconsin
  • Joany Page, Palos, Canada
  • Irene Pajer, Interstate Group, Carolina
  • Georgene Pedrie, Seagall Bryant & Hamill, Denver
  • Roberta Pigat, TD Asset Management, Canada
  • Amy Reichard, Broadridge, New York
  • June Anne Reid, Scotiabank, Canada
  • Inessa Ruffman, JonesTrading, National
  • Meena Saggar, BMO Asset Management, Canada
  • Cass Sanford, OTC Markets Group, National
  • Patty Schuler, BOX Options Exchange, Chicago
  • Paula Sexsmith, Viewpoint Investment Partners, Canada
  • Alina Shah, JP Morgan, San Francisco
  • Erin Sheehan, LeveL ATS, Boston
  • Kelli Springer, Kansas City Capital Associates, Kansas City
  • Elizabeth Traster, Wells Fargo Advisors, National
  • Lisa Utasi, ClearBridge Investments, New York
  • Amy Wiedmeyer, Northwestern Mutual, Wisconsin
  • Ellen Wile, Lightspeed Financial Group, Boston
  • Erin Williams, Stifel Nicolaus, San Francisco
  • Anastasia Yamane, Bank of America Merrill Lynch, San Francisco

Read the full newsletter here.

#EachforEqual

by Julie Andress

KeyBanc Capital Markets & STA WIF Co-Chair

In case you missed all of the recent social media posts showing photos of individuals, both women and men, with their arms out in a parallel pose, yesterday was International Women’s Day. Or, maybe you saw the posts but you weren’t sure what they meant. Celebrated annually on March 8, International Women’s Day (IWD) is a united movement for women across the globe to come together in hope and action, dedicated to celebrating women’s achievements in social, economic, cultural and political spheres.
The theme for IWD 2020 is I am Generation Equality: Realizing Women’s Rights , with the idea of “bringing together people of every gender, age, ethnicity, race, religion and country, to drive actions that will create the gender-equal world we all deserve.”


When I think about this year’s IWD theme, I think of previous generations, and I am hopeful.


The IWD 2020 social campaign, #EachforEqual, provides a unified direction to incite continuous collective action, and the campaign runs all year long. International Women’s Day didn’t end yesterday, or last for 24 hours. It just started, with activity around #EachforEqual to be reinforced and amplified across the globe throughout the entire year.

Yes, “women and girls continue to be undervalued; they work more and earn less and have fewer choices; and experience multiple forms of violence at home and in public spaces,” noted in a recent IWD article by UNWomen.org. But I am hopeful. We have a long way to go but we have come so far. This is the generation that pushes us fully forward. The expectations and mindset are different. We’ve seen firsthand the progress that has been made in the financial services industry over the past two decades. We’ve been fortunate enough to have mentors, and managers who have recognized us for our work. We believe that progress will continue, making it better for the generations to come.


The IWD 2020 social campaign, #EachforEqual , provides a unified direction to incite continuous collective action, and the campaign runs all year long. International Women’s Day didn’t end yesterday, or last for 24 hours. It just started, with activity around #EachforEqual to be reinforced and amplified across the globe throughout the entire year.
So to all of my fellow female colleagues, friends and family members, Happy International Women’s Day.

“In the future, there will be no female leaders. There will just be leaders.”

Sheryl Sandberg, Chief Operating Officer, Facebook  

#IWD2020#EachforEqual

See March STA Women in Finance Newsletter here

To the Women of STA

By Julie Andress

KeyBanc Capital Markets & STA WIF Co-Chair

Finding the proper balance on how we allocate our precious time can be overwhelming. For the vast majority of us, finding enough time for family, friends and career is challenging enough, but if you add community service to the equation, words like “impossible” and “sorry, I can’t” come to mind. It appears community service finishes a distant fourth, if it finishes at all, not because of a lack of desire, but with busy lives, it can be hard to find time to volunteer. However, the benefits can be significant to you and your community. Even helping with the smallest tasks can make a real difference to organizations in need, and dedicating your time as a volunteer helps you expand your network and boost your professional and social skills. 

Each year nearly 240 individuals across North America give their time to serve on any one of STA’s 24 affiliate boards in the U.S. and Canada. All of these individuals are paying it forward in an effort and desire to improve our industry not just for today, but for the next generation as well. 

While some question if Winston Churchill uttered the quote, “We make a living by what we get, but we make a life by what we give,” these powerful words remind us that service to others has its own rewards to those who give their time in doing so. In other words, there is fulfillment in community service. 

Each year nearly 240 individuals across North America give their time to serve on any one of STA’s 24 affiliate boards in the U.S. and Canada. All of these individuals are paying it forward in an effort and desire to improve our industry not just for today, but for the next generation as well. While all of these individuals deserve our appreciation, this month we wanted to say thank you and provide recognition to a subset, the Women of STA.

Today more than 20 percent of STA affiliate boards are comprised of women in the financial services industry. While this figure under represents the overall figures of women in finance, it is an improvement and more importantly, a large enough figure to build cultures of inclusion that promote and sustain a sense of belonging for other women across the network of STA affiliates.

Their names and affiliate organizations are listed below. If you know any of them, please take a moment to thank them for their service to our industry. Appreciation for their efforts to lead and inspire others to do the same is well deserved. 

  • Agata Lipinski – Chicago
  • Amy Reichard – New York
  • Alina Shah – San Francisco
  • Amy Wiedmeyer – Wisconsin   
  • Anastasia Yamane – San Francisco 
  • Ann Claire Lathem – Georgia
  • Beatrix Kondor – Georgia
  • Beth Hamburger – New York
  • Bethany Graham – Chicago
  • Brittany Letto – Los Angeles
  • Brittnee Dalton – Georgia
  • Carolyn Heslop – Boston
  • Cass Sanford – National
  • Christina Kowalski – Philadelphia
  • Claudette Mason – Boston
  • Danielle Dayan – Chicago
  • Elizabeth Traster – St. Louis 
  • Ellen Wile – Boston
  • Erin Sheehan – Boston
  • Erin Williams – San Francisco 
  • Frances Proctor – Florida
  • Georgene Pedrie – Denver
  • Gina M. King – Carolina 
  • Ginny Kowalczyk – Chicago 
  • Helen Kang – San Francisco
  • Inessa Ruffman – Los Angeles
  • Irene Pajer – Carolina 
  • Janice Morgan-Hilsman – Florida
  • Jennifer Nayar – New York
  • Jessica Schultz – Chicago
  • Jessica Theisen – New York
  • Jill Bartell – Portland
  • Joanna Fields – New York
  • Joany Page – Canada
  • Julie Andress – Ohio, National
  • Karen Couldrey – Canada
  • Kate McAllister – National
  • Kelli Springer – Kansas City 
  • Kimberly Russell – National
  • Krissy Bernstein – Mid-Atlantic
  • Laura Delaney – Dallas
  • Lauren Arbid – Chicago 
  • Lesley Cresswell – Canada
  • Linda Heuman – Ohio
  • Lisa Utasi – New York
  • Meena Saggar – Canada
  • Nanette Buziak – Connecticut 
  • Nanette Marks – St. Louis
  • Nora Nicols – Wisconsin
  • Patricia Koetzner – New York
  • Patty Schuler – Chicago
  • Paula Sexsmith – Canada
  • Peggy Bowie – Canada
  • Regina Frate – Connecticut 
  • Roberta Pigat – Canada
  • Roseanne Lissow – Carolina 
  • Sandy Chism – Kansas City  
  • Stephanie Libien – San Francisco
  • Stephanie Minister – Boston

The Importance of Congressional Hearings

Earlier this month, the House Financial Services Committee’s Subcommittee on Diversity and Inclusion held a hearing entitled “Examining the Need for Diversity Practices for America’s Changing Workforce”. The hearing focused solely on retention and promotion of diverse talent within US companies. As Chairwoman Joyce Beatty noted, US companies cannot just focus on recruitment, but rather must also expand their efforts through other areas. The STA Women in Finance Committee was founded with this same belief and has as one of its guiding principles, address the mentoring, networking, education and coaching needs of women.

In other words, there is power in congressional hearings that go beyond drafting legislation. While the financial services industry has pivoted on diversity and inclusion, real change requires the focus of management and hearings such as this one provide a meaningful catalyst towards achieving that goal.

Like many congressional hearings, there was no specific legislation being debated or voted upon, but that does not mean the hearing was not effective. Quite the contrary. Hearings such as this one, provide a unique and powerful opportunity to gather data and hear the opinions of subject matter experts and thought leaders within their respective fields of expertise. In other words, there is power in congressional hearings that go beyond drafting legislation and this one serves as a good example of one.

The range of topics was broad and the depth of detail was robust. We have compiled a list of the more salient points made, along with reports that were referenced. We hope you find the information insightful.

General Statements

U.S. Census Bureau states that the population of the U.S. will be majority of the minority. Women and minorities will compromise 47 percent of the U.S., and 27 percent of the workforce respectively within the U.S.

To reap the benefits of a diverse workforce, inclusion must also exist. Best practices are already taking place through sponsorships, mentorship, employee’s resource group, and diversity councils, but more can be done.

It is a core responsibility to leading companies in the world’s greatest nation to focus on the talent pool and make sure it is fully engaged to its greatest potential.

Reports

Diversity Doesn’t Stick Without Inclusion, Harvard Business School

Diversity and inclusion are often lumped together and are assumed to be the same thing and that is just not the case. report

Mending the Gender Gap: Advancing Tomorrow’s Women Leaders in Financial Services, Price Waterhouse

Despite making up more than half the workforce in financial institutions, women continue to dramatically lag behind their male counterparts in leadership roles. report

Oct. 17, 2019 Congressional Hearing Report, Williams & Jensen

Topics discussed in the hearing included: (1) Implementation; (2) Mansfield Rule; (3) Rooney Rule; (4) Incentives; (5) Best Practices; (6) Workforce Development; (7) Flexible Workforce Arrangements; (8) Unconscious Biases; (9) Age Discrimination.  report

See full STA WIF October Newsletter here

We are all Trailblazers

As we celebrate the 110th International Women’s Day  it is both amazing and inspiring to reflect upon more than a century of achievements by women. Each generation has continued to improve its educational attainment during the course of a lifetime. Through that knowledge and the examples of female leaders, women of every passing generation have been able to leave the world a better place for the next. Our generation, on this day, is no different. Grateful of the accomplishments and successes of women before us, and motivated through a sense of responsibility to leave something better for those yet to come, we are all trailblazers.


Finance is a dynamic and highly competitive industry with its own set of unique challenges towards achieving diversity balance. It is encouraging to see financial firms represented at the top of  Forbes America’s Best Employers for Women 2018 . When the STA WIF initiative was formed just a few short years ago, it was designed under the premise that there has not been a better time for women in finance. While true then and now, by no means does it imply that our work towards gender equality is done.


Data in key areas show improvement, but stubbornly wide gaps still must narrow. Transparency that the data provides goes a long way towards identifying where problems exist and from there, how solutions can be formed. It’s said that admission is the first step and I continue to be encouraged by the groundswell of activity around gender pay gaps, promoting women, adding women to corporate boards, and just a general awareness around the lack of diversity in boardrooms and across senior management. This transparency, coupled with a genuine desire to effect change, will be at the foundation of our generation’s achievements.

The theme of International Women’s Day 2019 is  #BalanceForBetter , a call-to-action for driving gender balance across the world. Balance in all things is better, study after study show, and it drives a better working world. To paraphrase from the IWD 2019 Balance for Better website, this unified direction to guide and galvanize continuous collective action runs all year long. It doesn’t end on International Women’s Day, but rather just begins.

There is always more we can do, and we will, but we should also be proud of how far we have come. Effecting real change requires a holistic effort, with both women  and  men invested in a common goal.

On behalf of the STA Women in Finance Committee, I wish you a happy International Women’s Day.
How will you make a difference?

Kate McAllister, Virtu
STA WIF Co-Chair

See March Newsletter here

Does the World Really Need Another Realtor?

 
If you recall, we published an article in June 2017 titled, Lawyers vs. Brokers. In that article we make mention of a then recent comment letter STA filed on FINRA’s lapsed license policy and how it contributes to what we believe is an unreasonable barrier of re-entry to the financial services industry for qualified individuals, particularly those who are primary childcare providers. Effective October 8, 2018, FINRA instituted the Securities Industry Essential (SIE) exam. The SIE exam carries attributes that address some of the concerns expressed in our letter, for example it remains effective for four (4) years after an individual leaves our industry. While much of the work on the new SIE exam was done prior to STA’s comments, we were and remain greatly appreciative that FINRA followed through on it.
 
FINRA is now requesting comment on enhancements to the Securities Industry Continuing Education Program (CE Program). Given how interconnected licenses to practice and continuing education requirements are towards obtaining and maintaining employment in the financial services industry, we applaud FINRA and the Continuing Education Council for soliciting opinions on potential enhancements. We especially want to give FINRA and the CE Council credit for acknowledging in the regulatory notice that the program enhancements being considered would allow individuals to maintain their qualification status following the termination of their registrations in an “effort to address the challenges that industry professionals face when attempting to re-enter the industry after an absence.”
 
Many of us know someone who made a positive impact on our industry and the investors we serve, who then left for an extended period of time to raise a family. When this individual looks to re-enter our industry they face an incredible challenge that is not found in other industries that require a license like: law, accounting or even medicine. Besides facing the burden of getting re-licensed, these individuals are uninformed on current practices because they are unable to take continuing education, again, something that is a unique to our industry. Consequently, many of these individuals seek employment elsewhere resulting in a loss of talent for our industry and many asking themselves, “Does the world really need another realtor?” (No disrespect, we love realtors.)
 

We especially want to give FINRA and the CE Council credit for acknowledging in the regulatory notice that the program enhancements being considered would allow individuals to maintain their qualification status following the termination of their registrations in an “effort to address the challenges that industry professionals face when attempting to re-enter the industry after an absence.”

 
This is an important issue for our industry and we hope you, and your firm, will take a moment to engage on it. STA will accept input from our Advisory Committees until Friday, November 2. If you’d like to offer your opinion, please reach to us at sta@securitytraders.org or better yet, file your remarks with FINRA directly!
 
The regulatory filing is FINRA Notice 18-26 and the deadline for comments is November 5, 2018. STA is currently working on its comment letter, which supports the CE Council pursuing a recommendation to allow previously registered individuals to maintain their qualification status while away from the industry.
 
See STA WIF October Newsletter here

Room at the top: Women in finance and investing

 

Room at the top: Women in finance and investing

by Lee McAdoo,  Managing Director
Investor Education at TD Ameritrade

 

Age 35. That’s about when I started to notice that I had fewer female peers.

It shouldn’t have surprised me. Women start to fall back largely due to having families and choosing to opt out of the workforce or scale back professionally just as men pull ahead in their careers. Not only does this shift have a significant impact on women’s personal finances and investing choices, but it also affects the number of women holding careers in financial services.

It can be disheartening to see talented colleagues leave the field. Individual choices—when it comes to work and life—can be difficult and are highly personal, but I do see opportunities for current financial executives, both female and male, to identify and nurture an interest in finance and investing. Why? It’s necessary in order to keep female talent, drive business forward and improve the industry as a whole.

My home life involves two busy daughters—ages seven and five—and a stay-at-home husband. It was my husband’s decision to leave his 20-year career in finance and stay at home with our kids in order to help me advance in my career and reach our goals. He’s supportive of my role as the primary breadwinner. And our situation is not as unique as it once was: 42 percent of mothers are the sole or primary breadwinners in their households and bring in at least half of family earnings. Not surprisingly, 51 percent of women report that they are the Chief Financial Officers (CFO) of their households.  Read more here

 

TD Ameritrade, Inc., member FINRA/SIPC. Stock investing is subject to risks, including risk of loss. Commentary provided for educational purposes only. Past performance of a security, strategy, or index is no guarantee of future results or investment success.

Security Traders Associate and TD Ameritrade are separate and unaffiliated and not responsible for each other’s services or policies.

 See STA Women in Finance February Newsletter here

 

STA Comment Letter on Lapsed Licenses

Newsletter No.30

STA recently filed a comment letter that included a recommendation on an issue that acutely impacts women in finance: lapsed licenses. According to FINRA regulations, a Series 7 license expires after an employment lapse of two years. While STA did not comment on whether two years is too long or too short a period of time, we did recommend that FINRA institute a new reinstatement policy that has characteristics similar to lawyers. This includes the ability for individuals in a lapse state to take continuing education classes, and guidelines that would allow employers to reasonably expect that a potential hire will have his or her license(s) reinstated upon employment. Further…

Read full newsletter >

Lawyers vs. Brokers

STA recently filed a comment letter that included a recommendation on an issue that acutely impacts women in finance: lapsed licenses. According to FINRA regulations, a Series 7 license expires after an employment lapse of two years. While STA did not comment on whether two years is too long or too short a period of time, we did recommend that FINRA institute a new reinstatement policy that has characteristics similar to lawyers. This includes the ability for individuals in a lapse state to take continuing education classes, and guidelines that would allow employers to reasonably expect that a potential hire will have his or her license(s) reinstated upon employment. Further, we state that the existing policy is flawed because it “creates an unreasonable barrier of re-entry for qualified individuals” particularly those who are primary childcare providers. STA’s position on instituting a new reinstatement policy for licenses is based partially on fairness, but more so on a fundamental belief that investors will better served from a policy that retains qualified individuals. We all know someone who made a positive impact on our industry and the investors we serve, who then decided to leave for an extended period of time to raise a family. When this individual looks to re-enter our industry they face an unreasonable barrier, in part, because they are uninformed on current practices, and it is difficult to find an employer willing to sponsor them on retaking their exams. Consequently, many of these individuals seek employment elsewhere resulting in a loss of talent for our industry. If that individual were an attorney, they would be able to take continuing education classes during their time off, pay an annual fee and have their license remain valid. Upon re-entering the field of law, they would be educated on current issues and an employer could reasonably expect them to be productive since their license would be valid. STA believes a similar policy in financial services would be beneficial for our industry because it would ultimately benefit investors. Retaining talented people is something every industry must do to be effective. STA will continue to advocate on this issue and we hope you will join us.

STA’s letter to FINRA dated June 19, 2017

Lapsed Licenses
Obtaining the necessary licenses to practice in the financial services industry requires an intense commitment by individuals who must demonstrate mastery in the securities business and their employers who must sponsor them. STA supports the high standards required to pass such exams in order to obtain these licenses. However, STA believes that the requirements for individuals whose employment lapses beyond FINRA’s regulations to retake exams in order to re-enter the financial services industry are too onerous.
STA believes FINRA’s current policy is flawed because it creates an unreasonable barrier of re-entry for qualified individuals, in particular those who are primary childcare providers. According to FINRA regulations, the Series 7 license expires after an employment lapse of two years. STA has no comment on whether two (2) years is too long or too short a period of time, but we do believe that FINRA should institute a new reinstatement policy and process that has the following characteristics: the ability for individuals in a lapse state to take continuing education classes; requires individuals to apply and upon approval have their license(s) reinstated and guidelines which would allow employers to reasonably expect that a potential hire will have their license(s) reinstated upon employment. Reinstatement policies and processes exist in other industries such as the practice of law, therefore there are examples to compare.
See July STA WIF Newsletter here

Don’t Be That Guy

 

Don’t Be That Guy

By Jim Toes

 

As the youngest of seven siblings many of the life lessons my father passed on to me were delivered at opportune moments in short, succinct sentences. In other words, by the time I came along my father had “Basic Parenting 101” down. Yesterday, I was reminded of a conversation that took place in the car as my father drove me to a Saturday morning sports practice in my senior year of high school. “I know when guys get into a locker room, they shoot their mouths off about girls and what they did and didn’t do. Don’t be that guy.” That was it. Sage advice, delivered only once in a highly effective manner so as to be recalled now 31 years later after reading Sam Polk’s article “How Wall Street Bro Talk Keeps Women Down” in the New York Times. Mr. Polk’s article not only caused me to recall my father’s words, but it reminded me of those times when I found myself in Wall Street’s version of a locker room with male colleagues objectifying female colleagues with crude and vulgar language. Like Mr. Polk, the number of times I stood silent or even participated outnumbered the times I stood up to the sexist behavior. So I cannot claim to be the hero here. However, I can say unequivocally that the vast majority of time after such experiences, feelings of guilt and disappointment in my behavior followed. Additionally, participating in the behavior never improved my standing with a manager whom I respected, nor did it create unbreakable bonds with peers or even endear me to those junior. It was from these experiences that my desire and courage to get it right the next time improved, and to a large degree I can say that I am not one of those guys today.

I disagree with some of Mr. Polk’s descriptions on how ingrained and systemic the objectivity of women is at Wall Street firms, but I applaud his article for raising awareness on an issue that needs to be addressed through the combined efforts of men and women. The harm brought to firms by objectifying women is real, and both men and women need to be engaged in the response.  The STA Women in Finance initiative was founded on several guiding principles two of which are; that there has never been a better time to be a female working in the financial services industry and that action items should consider the male perspective and involvement where appropriate. STA WIF acknowledges that more needs to be done and we see the “promulgation of diversity committees and women’s leadership summits” as described by Mr. Polk as resources which provide hope that the future will be brighter for women and minorities. These institutional-sized responses are sources of education on the value-add that diversity brings to organizations, and they provide training on recognizing and responding to sexism in the workplace. My wife ran equity sales-trading at a major investment bank in the 1990’s and we have three daughters. I share Mr. Polk’s feelings that it is scary raising daughters today, but I believe the opportunities they, and other women and minorities will have in financial services will be greater than the generations who have come before.