Blackwattle to launch Women in Finance Mentorship Program

fund management future im/pact gender diversity

14 October 2024
| By Jasmine Siljic |
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Blackwattle Investment Partners will be launching a mentorship program to empower more women into the funds management industry.

The Australian investment manager – which was established early last year – recognised that the profession remains male-dominated, with women consistently underrepresented particularly in leadership roles.

According to Deloitte, women accounted for just 18 per cent of C-suite positions globally in financial services organisations in 2023. However, without a more concerted effort, global growth in the share of women financial leaders may not even reach 25 per cent by 2031, Deloitte projected.

In response to this, Blackwattle announced the launch of its Women in Finance Mentorship Program after engaging with superannuation funds and “organisations at the forefront of female empowerment”.

The industry-level focused program is designed to help experienced female professionals transition into the investment management sector, Blackwattle stated, and ultimately develop the next generation of female finance leaders.

This will be achieved through a full-year program providing structured opportunities and support to learn from industry professionals and gain the confidence to transition into or advance within funds management.

Mentees will complete a stock research project over the course of the program to gain real-world experience in investment analysis and decision-making. Moreover, each participant will be paired with a Blackwattle senior professional to build strong relationships through personalised mentorship.

Blackwattle will hold regular events to help mentees build a network within the funds management industry, ultimately providing women with a long-term roadmap for career development.

“Our mentorship program marks the first phase of our broader commitment to advancing women in the finance industry. Future phases will likely include the launch internship, scholarship, and cadetship initiatives to further support and develop female talent at every stage of their careers,” the firm stated.

Blackwattle will be opening applications for the mentorship program in the coming weeks, it added.

The company acknowledged the small talent pool of mid- to senior-level female talent in funds management, which creates challenges in recruiting high-calibre female professionals at a reasonable cost.

Research from Future IM/Pact earlier this year discovered a “disappointing” setback in the composition of women in portfolio management roles. The number of female portfolio managers has declined from 23 per cent in 2017 to 19 per cent in 2024.

In addition, men are being appointed and promoted at greater rates than women in investment teams. Female hires are also more likely to depart, particularly at the senior analyst level.

Key barriers preventing women from progressing further in the profession include lengthy career progression clashing with family planning, lack of female role models, and insufficient endorsement and sponsorship.
 

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