ETFs
Women in ETFs: Overcoming Challenges in the ETF Industry
Adapting to ever-changing cultural norms, balancing professional and personal goals, and figuring out how to advance to leadership positions are just some of the challenges women face to succeed in the ETF industry.
These were some of the themes discussed at the “Women in ETFs” breakfast at Wealth Management EDGE at the Diplomat Beach Resort in Hollywood Beach, Florida, which included Jamie Gershkow, partner in charge of the law firm Stradley Ronon; Chantal Michael, director of the wealth management channel, at S&P Dow Jones Indices; and Naomi DePina, ETF Sales and Education at GTS.
Career Opportunities
The three women took different paths to get to where they are today. DePina first became interested in a political career. She decided to make a change and returned to school to focus on finance. She eventually ended up at GTS, a commercial market maker company.
Michael has a background in psychology. She worked as a mental health counselor and, at age 30, decided to change careers. She worked in sales as a cold caller and eventually moved to her current job at S&P, where she influences how wealth managers use ETFs.
Gershkow attended law school and, like DePina, was interested in a political career. She completed a summer internship at the firm where she currently works and returned after law school. She decided to join the firm’s investment management practice. She became a partner in 2021 and now heads its New York office.
Navigate the inflection points
Panelists discussed inflection points in their careers that allowed them to move forward. Michael said after thinking long and hard about her career path, she decided to take charge of her future and make the change. DePina realized that Excel spreadsheets were no fun. She changed jobs. During an interview, she was taken to the ETF office. She noticed that it was mostly men working there but decided to give it a try.
For Gershkow, the mentors in her life helped her decide to stay at the company she currently works at rather than move elsewhere. She found power and comfort in realizing that she was where she wanted to be.
Future roles
DePina loves people-to-people relationships, being in front of customers and building friendships. She said she struggled during COVID, when in-person connections weren’t possible. Although she plans to maintain a role similar to the one she currently holds, DePina is aware that she may face some challenges in the future, especially if she decides to start a family and does not wish to travel for extended periods of time. periods.
Michael learned that taking control of his career is essential. She emphasized that relationships are an important part of this business. As a woman of color in this industry, she has made a significant impact that brings her joy. She wants to pay it forward by helping and mentoring other people.
Gershkow said she’s happy where she is currently and isn’t planning a huge pivot. However, she said women may play different roles in their organizations. She advises that one path is to take on various leadership roles and improve the journey of others entering the industry.
Build your team and hire peers
Gershkow acknowledges that everyone approaches things in different ways. There is no right way to do anything. She said it’s good to have an open mind and not do things a certain way because that’s how we’ve always done it. She learned that people from different generations may have different expectations for how things are done and what is considered acceptable.
For example, she recently discovered that some people find it rude of you to cold call them on the phone. It’s best to schedule a meeting. This speaks to the need to constantly adapt to new standards.
DePina stressed the importance of building a diverse and strong team. Team members can also be diverse in terms of their thinking. She advises avoiding being preconceived about someone’s age. Michael agrees that diversity of thought and experience is important and creates a good collaborative workspace.
Get recognized
You want people to recognize the work you do. Michael urges women to raise their hands, show initiative and let people know what they want, something they sometimes avoid.
Gershkow acknowledges that self-promotion can be tricky, but he advises not falling into the trap of thinking that good work alone is enough. She said it was important to advocate, including sending emails to bosses about their achievements.