November 2022

Distribution 5,710

For those of us in the U.S., on Thursday we will celebrate Thanksgiving. This is traditionally a day spent in the company of family and friends giving thanks and expressing sincere appreciation for the support and love we provide each other.

Yes, Thanksgiving is a wonderful day to be with those closest to us, but like all holidays it will come to an end and in the morning we will return to our daily routines, otherwise known as work: the place where we spend more hours with our colleagues in a week than we do with some aunts or uncles in a year.

“As we express our gratitude, we must never forget that the highest appreciation is not to utter words, but to live by them.” - John F. Kennedy

No matter what time zone we live in, our workday is long and filled with high stakes and critical decision making. We face an increasingly competitive landscape and unpredictable markets, yet our industry still provides much to be thankful for, beginning with the opportunity to forge meaningful and lasting relationships.

These relationships can be seen in many lenses: the client who becomes a close friend; the co-worker who feels like family and makes the day enjoyable; the mentor who gave a one-time pep talk over coffee or another who provided guidance over the course of a decade; the organization that allows us to network and build more relationships; and, the bosses and managers who support our careers every day.

But how often do we stop to show appreciation to all these people? And when we do, is the expression just an email or some other type of electronic communication?

John F. Kennedy said, “As we express our gratitude, we must never forget that the highest appreciation is not to utter words, but to live by them.” We should feel gratitude for being able to do what we enjoy and for those around us. But when we express gratitude, it should include an action on our part. Beyond merely saying what you are grateful for, show it; live it. Be extra kind to your co-workers who bring you joy during the year. Mentor someone who could benefit from your experience and knowledge. Volunteer your time to the organizations that support your network. Give back in any way to this industry that gives us so much. 

On behalf of the entire STA Board, STA Affiliates and the STA Women in Finance Committee, we wish you, your families and your colleagues, a safe and Happy Thanksgiving! 

Articles of Interest

How To Ensure Financial Security as a Single Woman

Yahoo Finance

The wealth gap between married and single people has widened in recent years. As of 2019, married couples were worth nine times as much as single-family households, The Wall Street Journal reported. Given this wealth disparity, it’s clear that it’s more difficult to achieve financial security on a single income — but with the right planning, it is possible.

here

CEO Diversity Slow to Change Even as U.S. Boards Hire More Women and Minorities

Yahoo Finance

The share of women and minority leaders taking on CEO roles has stagnated since last year at top U.S. companies despite corporate pledges to improve diversity, according to fresh research from recruiting firm Heidrick & Struggles, which attributed the trend to slow leadership turnover. However, faster-moving boardrooms have added more diversity, it has found. At Fortune 100 companies, only 12 chief executives were women as of July 15, the same number as a year earlier, according to Heidrick.

here

Private Equity Manages $10 Trillion With Few Women Decision Makers

Forbes

Women make up only 12% of managing directors and 16% of principals and partners in investment roles at private equity firms, new research from McKinsey shows. And among the most powerful PE investment decision makers, Investment Committees, less than 1 in 10 are women. That number plunges to 1 in 100 for women of color, among U.S. and Canadian firms, according to McKinsey’s report.

here

Managers Hiring 2 Men to Every Woman for Investment Teams – Redington

Pensions & Investments

Data suggest that for every female investment team hire, money managers recruit two men, according to consultant Redington. The firm said the data — part of its annual Sustainable Investment Survey of 122 managers, representing £37.7 trillion ($43.8 trillion) in assets under management — comes despite 97% of respondents believing diverse teams improve investment strategy outcomes.

here