Women and quotas in the finance industry

Multiforte Financial Services director, Kate McCallum, spoke about female quotas being essential in the finance sector at the AFA Inspire Roadshow in Sydney. McCallum said quotas were essential, since the finance industry needed to provide different criteria to allow women to step into leadership roles. 

'We are dealing with a fundamental structure that has a long history of being masculine and we are not going to change that incrementally if we do not make dramatic decisions,' McCallum said.

Peita Diamantidis, Caboodle Financial Services managing director, said, 'We are dealing with a fundamental structure that has a long history of being masculine.'

'You should not have to be the loudest voice in the room or the freak that loves getting up on stage.' 

'The reason we need quotas is to get women on the list so they get considered and so then we get diversity and interest. The point is a loud voice is not the only voice we should hear. We should hear all the voices and a quota brings that diversity for gender but also personality and approach.'

AFA president, Deborah Kent, said, 'Having three women on a board changes the conversation and is a good strategic move for any business but part of the problem is that women don’t get on boards because they are not asked. Boards tend to fish in their own pools instead of going outside of it.'

'Women getting on boards is a great thing, especially for own business, but to give back as well. Stepping up to a board position is good for you, as it gets you to grow and it will put you out of your comfort zone.'