The Glass Hammer
The Glass Hammer is an online community designed for women executives in financial services, law and business. Visit us daily to discover issues that matter, share experiences, and plan networking, your career and your life. Get a new job right here!
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Is Norway working? The case for women on boards
By Elizabeth Harrin (London) Norway is considered one of the most progressive countries with regards to increasing the number of women on boards – thanks to it being an early adopter of legislation to force companies to recruit women to the boardroom. It sounded like a great idea to improve diversity and shareholder returns, and since then many other countries have adopted or considered similar laws. It’s been seven years since the law took affect. Has it made any difference? Amy Dittmar,... |
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5 Reasons NOT to Take a Promotion
By Elizabeth Harrin (London) You are offered a sideways move, either in your organisation or to transfer to another company. Should you take it? While it might be tempting to hold out for a promotion, don’t disregard the possibilities presented by taking a lateral move. We asked five experts for their advice on taking a step sideways. Plan for the long term “A lateral move that is made capriciously may be a career limiting move; however, a lateral move that is part of an intentional plan... |
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The New Female Breadwinners – Celebratory Boon or Involuntary Boom?
By Gigi DeVault (Munich) If Betty Friedan first showed women through a “room with a view” in the 60s, a Pew Report released this month has ever so gently closed the door to that room as well. The Pew report, The New Economics of Marriage: The Rise of Wives, explains why economic gains in marriage are now greater for men than they are for women. The number of men married to wives whose income and education exceed theirs has increased 18% since 1970. Another gender trend reversal has been boosted... |
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New Accenture Report Released Today – The Power of Resilience
By Tina Vasquez (Los Angeles) Anyone’s who’s ever had to struggle or overcome extreme hardships knows the power of being resilient; the importance of being able to bounce back and keep trudging onwards. According to a new study by Accenture, resilience – or the ability to overcome challenges and turn them into opportunities – also happens to be a much-needed characteristic in the business world; one that is key to keeping your job in a harsh economy. The global research study entitled... |
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Message From Our CEO: Celebrating International Women’s Day
Dear Readers, Today is International Women’s Day and we are pleased to celebrate it with all of the amazing women in our community. An encouraging start to this week was Kathryn Bigelow’s historic double Oscar win for best picture and best director. We believe this is a step in the right direction, not just for the entertainment industry, but for all industries. We need to achieve a critical mass of female leaders to change perceptions around what a leader looks like. We also believe... |
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Voice of Experience: Michelle McCarthy, Chief Risk Officer, Russell Investments
By Pamela Weinsaft (New York City) As the saying goes: “A pound of pluck is worth a ton of luck.” That is certainly the case for Michelle McCarthy, Chief Risk Officer of Russell Investments. While she attributes much of her success to luck, it’s clear that her moxie is really what’s allowed her rise to the top of her profession. Said McCarthy: “I’m willing to be a bit of a maverick and willing to do things even when I don’t feel completely ready.” At 13, a fearless McCarthy... |
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10-Minute Workouts for Busy Women
By Elisabeth Grant (Washington, D.C.) We want you to become a stronger businesswoman. Literally. But while you know exercise can strengthen your body, did you know it can strengthen your brain too? A number of recent studies show that aerobic exercise increases brain functioning (see articles from the New York Times, Scientific American, and ABC News). With exercise being both good for your mind and body, there’s no excuse to not do it, right? Oh wait, there’s just that one small detail:... |
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Movers and Shakers: Shannon Vetto, Global Exchange Traded Funds (ETF), Russell Investments
By Gigi DeVault (Munich) Knowing how to maintain a high level of productivity while sticking to a grueling travel schedule may have given Shannon Vetto an edge when she came to Russell Investments in 1997. Before then, at Price Waterhouse LLP, Vetto worked as a client service audit manager in the firm’s investment company group—in Boston, New York, San Francisco, and Seattle. Every few weeks she found herself in a new location, examining a new set of books and addressing a new set of circumstances. For... |
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Who Is Holding the Purse-Strings at Foundations and Endowments?
By Gigi DeVault (Munich) Endowments and foundations need to do well in order to do good. The funds of endowments and foundations did very well—prior to 2009. Now, Chief Investment Officers of these institutional funds must forge strategies that can get the funds back on track and safeguard their missions. Reihan Salan, who writes a weekly column for Forbes and is a fellow at the New American Foundation, believes that women will play a leading role in the restoration of a healthy financial... |
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Movers and Shakers: Virginia Volpe, CFA, Director, Hedge Fund Services, Global Transaction Services, Citi
By Melissa J. Anderson (New York City) “Get comfortable in your own skin as fast as you can,” recommends Virginia Volpe, Director of Hedge Fund Services at Citi’s Global Transaction Services division. “You will be so much happier so much sooner – I only realized that four years ago,” she explained with a laugh. Volpe exudes a good-natured confidence, something she attributes to to her flexibility. “One of my professional achievements is how easily I’ve been able to slip in... |
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2010 Catalyst Award Winners: Campbell’s Soup, Deloitte LLP, Royal Bank of Canada, and Telstra
By Elisabeth Grant (Washington, D.C.) Each year the Catalyst Award recognizes businesses that support women’s advancement in the workplace. For 2010, Catalyst Awards were given to the Campbell Soup Company, Deloitte LLP, Royal Bank of Canada (RBC), and Telstra Corporation Limited. See a list of the 69 companies that have won Catalyst Awards since 1974 on the Catalyst web site. Companies apply for the award by submitting initiatives to Catalyst that promote “recruitment, development,... |
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Voice of Experience: Mara Topping, Partner and Head of the Fund Formation Practice in the D.C. Office of White & Case
By Pamela Weinsaft (New York City) When Mara Topping, a partner in the D.C. office of White & Case, was a young girl, she lived in five countries on three continents, moving wherever her father, a high ranking USAID official, was stationed. Her childhood abroad—and her experiences with the beauty, diversity and poverty in Africa in particular—triggered a lifelong interest in other cultures and in international development. She applies this passion to her role as the head of the fund... |
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On Your Bookshelf: Glass Ceilings & 100-Hour Couples
By Andrea Newell (Grand Rapids, Michigan) If you are a professional woman with children, you have faced the decision about whether to keep working or stay at home. No matter which route you chose to take, most likely the bulk of household responsibilities still fall on your shoulders, and you have begun the inevitable balancing act of work and family. There are endless articles, books and discussion about work/life balance. But those of us who are currently trying to walk that tightrope know –... |
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New Catalyst Report: Senior Women 3 Times More Likely to Lose Job than Senior Men
By Elisabeth Grant (Washington, D.C.) Everyone has been hit by the current state of the economy, but are women in senior leadership positions being hit harder? A new Catalyst report says yes, three times harder. The report, titled “Opportunity or Setback? High Potential Women and Men During Economic Crisis,” showed a striking difference for women executives when compared to men in the same positions. From those surveyed for the study, three times more women at the executive level,... |
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Voice of Experience: Robin Ross, Managing Director, Interest Rate Products, CME Group
By Jessica Titlebaum (Chicago) “As soon as I walked onto the trading floor they had me hook, line and sinker,” said Robin Ross, Managing Director of Interest Rate products at CME Group. “You could almost taste what was going on in the markets.” Originally from Little Rock, Arkansas, Ross learned about Municipal Bonds from her father. When his eyesight deteriorated, she would read call features for the bonds from the books her dad brought home. She joined her father’s firm during her... |
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Ask-A-Career Coach: Getting Back Into the Career Game
Contributed by Caroline Ceniza-Levine of SixFigureStart™ In the past three weeks, I’ve had three questions about career re-entry: I had a high-level sales job but took seven years off to focus on family. I’ve done some non-profit volunteer work. How do I get back to for-profit and paid? I sold my company and have been consulting part-time since. How do I ramp back up to a full-time career? I retired but want to come back. How do I start? Career re-entry is similar to career change in... |
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Cautious Optimism at the FWA’s Economic Forum II: The American Worker
By Melissa J. Anderson (New York City) Last night the Financial Women’s Association of New York held the second of its Economic Panel series: The American Worker. Moderated by Patti Domm, Executive News Editor of CNBC, Panelists included Richard B. Hoey, Chief Economist at BNY Mellon and The Dreyfus Corporation, Joseph A. LaVorgna, Managing Director and Chief US Economist, Deutsche Bank Securities, Inc., and Edward F. Keon, Managing Director and Portfolio Manager, Quantitative Management... |
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Do Millennial Women Truly Have It All?
By Tina Vasquez (Los Angeles) It seems as if young working women not only feel as if they can have it all, but a shockingly high percentage reports that they do have it all. According to recent research by Accenture, young professional women ages 22-35 – otherwise known as “millennial women” – believe they will have rewarding careers in equal balance with fulfilling personal lives, despite a rough economy and corporate structures that are still lacking in their understanding of... |
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Voice of Experience: Diane Garnick, Investment Strategist, Invesco
By Pamela Weinsaft (New York City) Called the “Princess of Perseverance” by many who know her, Diane Garnick brings her positive attitude to everything she does. “When people ask me what I am doing right now,” says Invesco’s Investment Strategist, “I tell them I am in wild pursuit of lifelong dream to provide financial security for as many people as possible.” She added, “My greatest accomplishment is when clients who are senior people—the sophisticated investors—call... |
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Microfinance in Haiti – One Woman’s Story
Photo by Kelly Atlas-Bache Contributed by Heather Balke In March 2009, I boarded a plane destined for Port-au-Prince, Haiti. I wasn’t sure what was ahead, but I knew it was going to be a learning opportunity and an adventure. A month earlier I signed up to go to Haiti on a microfinance delegation with Fonkoze USA, to see first-hand the programs and activities of Fonkoze, Haiti’s largest rural microfinance institution. My experience began with peering out a jeep window as we left the Port-au-Prince... |