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Welcome to this edition of the ICMA Women's Network (IWN) newsletter
This newsletter provides a periodic snapshot of the IWN’s activities - please forward it to interested colleagues and peers and contact us with any feedback.
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Angela Brusas
Director, Funding and Investor Relations
Nordic Investment Bank
Chair of the IWN
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October already, what a year it has been – and much more still to come!
As summer fades, we find ourselves in full swing with IWN activity across the globe. On 9 September, we held our NetWALK in cities including London, Dublin, the Nordic capitals, Paris, Zurich, Hong Kong and more - a unified, global walk to celebrate a decade of the IWN, bring people together and reaffirm our commitment to gender equality in the financial sector.
Throughout the year, we have organised local meetups, webinars, panels and networking sessions. These ranged from leadership roundtables to smaller informal gatherings - all part of our ongoing commitment to build connection, knowledge-sharing and momentum.
The highlight was our 10‑year anniversary celebration on 25 September in London. What a night. We had great attendance spanning all genders and all levels. It was a marvellous way to recognise how far we've come, and to recommit ourselves to what lies ahead.
Looking ahead, we have a number of flagship and smaller events still in 2025. One we’re particularly excited about is our IWN Tokyo gathering in November, ensuring voices from Asia are included in the gender equality conversation. A strong line-up of excellent speakers and panellists is confirmed. Beyond that, we are already laying the groundwork for 2026, regional events across continents, and planning our themes, formats and partnerships. Stay tuned for details in the months to come.
Of particular note is the first IWN Survey which I would strongly encourage you to complete by Friday 14 November. By sharing your insights and experiences on gender equality, your input will help guide future initiatives, events and advocacy efforts across the industry and the IWN.
I’d like to extend my thanks to everyone who has supported our initiatives so far. None of this would be possible without you. To anyone reading this who would like to take a more active role - whether as event co-organiser, content contributor, mentor or champion - I warmly encourage you to reach out. Let’s make the next decade even stronger, more inclusive, more impactful.
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The IWN is pleased to launch its first survey, designed to gather industry insights and experiences that will guide meaningful action on gender equality. It explores personal reflections and effective initiatives on gender equality, remaining barriers and drivers of progress, and ideas the IWN could implement locally to promote gender balance and inclusion. The survey is entirely anonymous, and respondents’ names, employer and email addresses cannot be traced by ICMA. Please respond by close of business on Friday 14 November.
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10 YEARS OF THE IWN!
2025 marks the 10-year anniversary of the IWN! In that time, the network has expanded from humble beginnings to almost 5,000 members spanning 14 regions, most of which have played host to over 70 of our events. ICMA marked this milestone with a number of events and initiatives.
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IWN celebratory event
On 25 September, ICMA played host to an inspiring celebratory event reflecting on progress made towards gender equality in financial markets, while also acknowledging the ongoing challenges and work that remain.
The event brought together friends and supporters of the IWN: industry leaders, professionals and advocates discussing how to continue driving meaningful change and create more inclusive opportunities for all.
The following speakers shared their insights:
- Janet Wilkinson considered evolutions made in financial markets and offered great advice,
- Eila Kreivi discussed changes in sustainable finance and where they might land,
- Richard Martin emphasised prioritising mental health and wellbeing in the workplace,
- Shruti Ajitsaria mused on strides made in FinTech and how to navigate its future,
- Vivienne Artz OBE shared sobering statistics, highlighting key policy drivers needed for women in leadership, and
- Mark Freed provided the vital male perspective on gender equality.
Their reflections reminded us that building a truly inclusive financial sector is a shared journey, and one that requires ongoing collaboration, commitment and shared accountability.
For the past decade, the IWN has been at the forefront of this journey championing gender equality and inclusion through a wide range of global initiatives, such as events, workshops and networking opportunities.
Thanks to all our guests for attending, to our IWN Steering Committee and Sub Committee and to ICMA for hosting this event!
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IWN NetWALK
On Tuesday 9 November, the IWN marked its 10th anniversary year with a globally coordinated walk. Undeterred by rain in Dublin, a tube strike in London and even the aftermath of a typhoon in Hong Kong, IWN members took to the streets in 10 different cities in solidarity.
The walks provided space for meaningful conversations and new connections, championing gender equality in financial markets, reinforcing the importance of networking and sharing experiences. Male colleagues also joined - valued allies whose engagement is essential to driving lasting change. Thanks to all who participated and to those who helped with the organisation of this momentous event!
You can read reflections of the last 10 years in this special Foreword of the ICMA Quarterly Report, in which ICMA’s Chief Executive, Bryan Pascoe talks to Katie Kelly, Global Lead and co-founder of the IWN, about its past and its progress.
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Daring together: The strength of women’s networks, by Caroline Derocle and Anne Flori
Caroline Derocle
Product Manager, Euroclear
IWN International Steering Committee member
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Anne Flori
Senior Funding and Investor Relations Officer, CEB
IWN Paris Sub
Committee member
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On October 11, the world celebrates International Day of the Girl Child. It is a moment to recognize the power of possibility, and to remind ourselves that every girl deserves the chance to grow, to learn and to lead. For women in the financial markets, it is also a call for action: how do we translate this promise into daily reality within our own organisations?
Women’s networks provide a vital part of the answer. By connecting within and across organizations, roles and seniority levels, we prompt discussions and fruitful exchanges where creative ideas and ambitions are voiced, heard, supported and strengthened. A network is not simply a social circle - it is an ecosystem of solidarity, where mentoring, inspiration and opportunities multiply. And the ICMA Women’s Network is a vivid example of this.
Caroline Derocle: “I am currently the International Steering Committee member for the French region of the ICMA Women’s Network, of which I have been an integral part for a decade. I truly believe that women’s networks are not just support groups - they are catalysts for transformation which can deliver tangible benefits and performance. They amplify voices, spark mentorship and open doors. They embody the principle that when one woman rises, she paves the way for many others.”
Anne Flori: “I strongly believe in the power of women’s networks - and especially in the ICMA Women’s Network which I joined five years ago - to empower individuals and open up new valuable opportunities for each and every woman. A woman alone can break barriers; a network of women can rewrite the rules - especially in financial markets."
Daring together means daring to support one another, to speak up for the value of diversity and to reinvent leadership with empathy and resilience. As we celebrate the International Day of the Girl Child, let us continue to build bridges for those who follow, while standing firmly by each other today. Strong networks make stronger futures - for women, for economies, for societies...in short for everyone.
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FTSE Women Leaders Review
 The IWN were lucky enough to welcome Vivienne Artz OBE to speak at a recent IWN event. Vivienne is chair of the FTSE Women Leaders Review, which aims to improve the representation of women on the boards and leadership teams of the FTSE 350 and 50 of the UK’s largest private companies. By reference to its February 2025 report, she shared some fascinating insights.
Women now hold around 43% of board positions across the FTSE 350 and over 35% of leadership roles. Nearly three-quarters of FTSE 350 companies have achieved or exceeded the 40% target for women on boards, marking a significant milestone in corporate diversity.
However, the report also highlights areas where improvement is needed: women remain underrepresented in executive positions, holding only 15.6% of executive director roles and around 7% of CEO positions, and are less likely to occupy key profit and loss or operational leadership roles.
To accelerate progress, the report recommends that companies maintain a minimum 40% representation for both genders in leadership and board positions and ensure at least one woman holds a key role such as Chair, Senior Independent Director, CEO or Finance Director. It urges firms to strengthen accountability, reduce bias in recruitment and promotion, and expand the pipeline of women into commercial and operational roles.
The report also calls for greater transparency and sustained leadership commitment, emphasising that gender balance should be treated as a core element of business performance and governance rather than a diversity initiative alone. Together, these measures aim to embed long-term cultural change and ensure the next phase of progress moves beyond representation toward genuine equity in leadership influence and opportunity.
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Febelfin Wo.Men in Finance, Belgium
 Wo.Men in Finance (WIF) Belgium is focused on advancing gender diversity in the Belgian financial sector. According to its diversity charter (similar to other charters such as the UK Government-backed Women in Finance Charter), signatories commit to measuring gender differences at all levels, setting specific diversity/inclusion objectives, creating action plans and appointing an individual responsible for diversity. WIF also organises events and talks and provides a useful toolkit for navigating gender equality in Belgian financial services. According to its most recent Annual Report, WIF have found:
- Women now make up over half the workforce, but progress at senior levels is slowing. Retention and progression need as much focus as recruitment.
- Embedding inclusion in leadership performance and incentives is key to real progress.
- Consistent, transparent data (like WIF’s Glass Ceiling Index) helps track barriers and progress across institutions.
- Career development, mentoring and psychological safety keep women advancing.
- Visible senior commitment, engagement and continuous innovation - such as digital outreach and student engagement - keep diversity efforts relevant and effective.
The depth of membership of WIF, together with the charter, suggests there is real momentum in Belgium around gender diversity in finance. If you are in Belgium and would like to be more involved in the IWN in the Belgian region, please email iwn@icmagroup.org.
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Event spotlight: IWN Webinar – Personal branding: harnessing the power of LinkedIn
Victoria McLean
CEO
CityCV
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This session was delivered by Victoria McLean, CEO of City CV. Did you know…there are around a billion users on the LinkedIn platform, and 97% of head-hunters now use LinkedIn as their primary source of a candidate? The following tips will help to ensure your profile is on their radar.
Drafting your profile:
- 19% of page time is spent on your photo, so use a professional image. A custom banner and location can also attract attention and make your profile more engaging.
- In the ‘Introduction’ section, use all 240 characters to be personal, authentic and stand out. With 2,600 characters in ‘About’, this is your main space to tell your story and showcase yourself. Keep the ‘Experience’ section brief and punchy, highlighting relevant experience aligning with your target audience.
Connecting, and staying connected:
- Connect as widely as you can – LinkedIn values larger networks.
- Start with colleagues, competitors, stakeholders, suppliers and local networks and send each connection a personal message (this function is only available on the website).
- Activate the bell icon (on profile pages) to follow and engage with individual's activities, and join and engage with groups that align with your interests.
Ensuring visibility through activity:
- ‘Likes’, ‘shares’ and ‘reposts’ signal good content and boost your visibility. Alert your connections to your content so they can reciprocate.
- Posts with images, videos, PDFs or longer text get two times’ higher engagement.
- For every post you create, repost and share other peoples’ content.
- Start posting weekly and build this up, preferably in the morning is helpful, and schedule posts as needed.
Enhancing your profile:
- Add quotes or press mentions to the 'Featured' section of your profile.
- Give and Request endorsements and recommendations – and don’t forget to reciprocate.
- Don't procrastinate - it’s all about upping the activity!
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Upcoming IWN events
Dublin, 21 October: This event will be hosted and sponsored by A&L Goodbody and will comprise a dynamic discussion exploring the vital roles of mentors and sponsors in personal and professional growth and success. The differences between the two will be unpacked, when and why they matter most and how to build effective, mutually beneficial relationships.
Tokyo, 4 November: This event will be hosted and sponsored by Daiwa Securities Group. Advancing human rights and gender equality is both a moral imperative and a driver of economic growth, productivity and sustainability. In 2021, UN Women, IFC and ICMA launched Bonds-to-Bridge-the-Gender-Gap, a guide for integrating gender equality into sustainable bond issuances. Four years on, experts from leading organisations will assess the progress made and the market’s current stance.
Save the date - Milan, 24 November: This event will be hosted by Borsa Italiana and co-sponsored by Borsa Italiana, Dentons and HSBC. It will focus on women and finance, highlighting the strong connection between female leadership and financial independence as a key driver of empowerment. Discussions will explore how financial autonomy enables women to make strategic career choices, navigate transitions and pursue leadership opportunities with confidence.
London, 9 December: The IWN will feature at the ICMA FinTech & Digitalisation Forum. The session will explore how human expertise and AI will evolve together in capital markets, and what this means for professionals. Topics include the skills needed in a hybrid workplace, how women can ensure AI supports rather than hinders career progress, whether leadership qualities need redefining, and how to understand, anticipate and address the impacts of algorithmic bias.
Keep an eye on the IWN webpage for further details, and look under the ‘Events/Past events’ tab for details of previous events.
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IWN call to arms: Get involved with ICMA!
At ICMA, our strength lies in the expertise, energy and engagement of our incredible network of members. We want every member to have the opportunity to use their voice to help shape our work. We especially encourage women across our network to take an active role - engaging with ICMA is not only a chance to contribute to ICMA’s mission, but also a meaningful opportunity to enhance your own professional visibility, expand your network and strengthen your leadership skills.
Here are a few ways you can take part:
- Contribute to the ICMA Quarterly Report: Share your expert perspectives on market-related or technical issues.
- Speak at our events: We’re always looking for inspiring speakers. If an upcoming event interests you, please contact iwn@icmagroup.org to be considered for a speaking slot. Whether you’re a seasoned presenter or speaking for the first time, this is a great way to share your expertise and boost your professional profile.
- Join a regional committee: Regional committees connect members, drive local initiatives and ensure our work reflects our community’s needs. Joining a regional committee is a great way to expand your network, build leadership skills and contribute to an inclusive community.
Interested? Get in touch with iwn@icmagroup.org today to find out how you can get involved! |
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ICMA Education & Training - Learning pathways
ICMA has an education framework to help professionals navigate their development in international capital markets. The framework brings together two qualification routes: the ICMA Diploma, a comprehensive programme that builds cross-market understanding over time, and ICMA-Certified, a focused track for practitioners looking to validate specialist skills and expertise. Both lead to internationally recognised credentials and support ICMA’s commitment to promote the development of the international capital and securities markets through continuous professional growth.
Explore the pathway that fits your career goals - with preferential fees available for ICMA Members.
The second series of 'Let's Talk Markets' has been released. In the first episode, IWN Global Lead and co-founder Katie Kelly talk to our Head of Education & Training Marc Granville about the IWN’s role in addressing gender inequality in the capital markets, and the importance of education in training in female empowerment.
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What is the IWN?
The IWN is an open, collaborative and gender-inclusive women’s network promoting equality in the capital markets by supporting, connecting and inspiring professionals of all genders and at all career stages. Open to all employees of ICMA member firms, the IWN values diverse participation across genders and backgrounds, recognising that broad engagement is essential to driving sustainable, positive change. The IWN is managed by an International Steering Committee.
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IWN - how to get involved:
- Visit the IWN webpage and LinkedIn page for details of future activities, invite colleagues (all genders welcome) to events and send us your own topic suggestions.
- Contact your local IWN Steering Committee member to see how you can get involved.
- Sign up to the ICMA Mentoring Platform, which matches mentees with suitable mentors.
- Join ICMA Future Leaders; a bridge between young professionals and the industry via ICMA’s services and networking opportunities.
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