Starting a career as a woman in FS: be thick skinned and have a strong network
Brenda Trenowden CFA, CCMI is Head of Financial Institutions Group, Europe at ANZ & Global Chair, 30% Club. With more than 25 years of experience in capital markets, investment and relationship banking, with sector expertise in financial institutions, Brenda is a strong advocate for women’s economic empowerment and has been recognised with several awards for her global campaigning for greater gender balance across organisations as a voluntary, business-led imperative. We speak to Brenda about her career and advice to the future women in financial services.
How did you start your career?
In my final year of University I was President of my university’s chapter of AIESEC, the International Exchange Network for students, and I applied for an AIESEC exchange placement. I was placed on a one-year marketing internship at IBM Asia/South Pacific headquarters in Hong Kong in June 1989. It was an incredible experience which opened my eyes to international business and to Asia and was instrumental in pointing me in the direction of Emerging Markets where I spent the first part of my career.
What sparked your interest in Financial Services?
I must admit that I wasn’t initially interested in Financial Services, but rather in moving from Toronto to London. I accepted a job as a technical analyst in 1991 to facilitate the move and I’ve been in financial services since then. I moved from technical analysis to becoming an emerging markets equity analyst, then a Head of Research and Head of Broking, working in India, Bangladesh and Singapore which I really loved. I later moved into European equities and commuted between London and Paris as a partner at Exane and in 2006 I shifted into FIG banking.
What was your lightbulb moment?
My lightbulb moment came about 8 years ago when I was changing jobs. I had been working all hours and not having enough balance in terms of family, friends and outside interests. I decided that in my next role I would prioritise better, work smarter and delegate more and get involved in the City Women Network as well as a charity to try to give back. The difference was amazing – I felt much happier, more fulfilled and had much more energy and my team at work was thriving and exceeding targets. I think this was the point that I started to become truly ‘comfortable in my own skin’ which gave me much more confidence at work at in my external activities.
What inspires you?
I am inspired by working with others to make a difference / have an impact. This is the reason I am so passionate about the work I do with the 30% Club, my work with the EY Foundation on the School to Work programmes, and more recently on environmental sustainability with our Responsible Business Committee at ANZ. I believe that having a strong purpose and wonderful people work with who share that sense of purpose is a critical factor in developing personal resilience. Having battled a very rare cancer over the past year and half with major surgery and chemotherapy, this sense of purpose has really helped me to tolerate it all and to bounce back relatively quickly.
Why is the #WomeninFS movement important?
It’s important because the industry is still very male-dominated and needs good female role models who will help to encourage young women to join and stay in the industry. When the 30% Club worked on the Think Future Study a few years ago 20,000 UK university students were polled about their career ambitions – Financial Services was the 4th choice for young men and the 12th choice for young women. As long as women feel that it is not an industry where they can truly thrive, we will struggle to access the broader talent pool and to recruit and retain women.
What piece of advice would you give women starting their careers in the Financial Services?
I would advise them to grow some Rhinoceros skin as the cultures in many financial institutions are still quite male-dominated and are not yet truly inclusive (but most are starting to change for the better). I would also advise them to develop a strong network both internally and externally and to spend time understanding the organisational dynamics (politics), do some stakeholder mapping, and find a good sponsor.