Nazmeera Moola, Chief Sustainability Officer, Ninety One

 

We all know women are woefully under-represented in financial services and asset management, especially in more senior roles. The causes are many (but still less than the number of books written on the subject!) so let me not rehash them all. Instead, I’ll focus on one factor I’ve spent some time thinking about how to alleviate in the teams I’ve been involved: that confidence is situational.

 

To some that statement will sound blatantly obvious; to others, it will sound absurd. I know because I’ve spent some time convincing people (mostly men) of that. For example, in 2018 I took on a new role as head of Africa investments at Ninety One. My previous role, covering South African economics, was taken over by a woman who came from a village in one of the country’s poorer and more remote provinces with the most basic of amenities. At the same time, there was a man in the team who sat two seats down from her and attended one of the country’s best schools. Both smart and successful, but from completely different walks of life.

 

Part of our role as managers is to help colleagues bring their A game to work by making them feel confident enough to produce their best work. That’s not particularly easy when the discussion over the desk is about golf or the best wines. Fortunately, the team in question has established a strong camaraderie that allows for robust discussion on work output that never feels personal. This is due to the strong trust built between teammates, led by a manager who prioritises this.

 

Mentoring musings

 

Supportive team dynamics are a big part of the solution. Mentorship is another component. It was more than a decade into my career when I realised how lucky I was in my first job. I began my career at Merrill Lynch, and my first manager, Jos Gerson, was a former academic who took me out for coffee or lunch most days (and sometimes both) to discuss some aspect of the global economy. What stays with me most is that he always listened to what I had to say and made me feel seen.

 

Mentorship can take many forms. From a direct manager, it allows someone the opportunity to learn from an individual who has a great deal of knowledge and experience. Receiving one-on-one guidance can help facilitate an individual’s personal and professional development.

 

Beyond the amazing Gerson, I’ve had several great mentors. For example, a then competitor who also became a close friend provided many hours of advice on content and delivery. A more recent manager actively pushes me out of my comfort zone and mentally challenges me, in a good way, which also reminds me that I am always learning, growing and developing.

 

In addition to this, several industry peers have made themselves available throughout my career to provide professional guidance and insight at critical points. You may see a common theme here.

 

Freedom to create

 

The lesson I take is that I have benefited enormously from people who have generously shared their time with me, and I continue to benefit from this. Therefore, I try to give other (particularly younger) women and men my time.

 

Ninety One has a self-starter culture and flat structure that provides plenty of freedom to be yourself but also is very focused on results. This has strengths and weaknesses. The weakness is there is no detailed organisational sketch you can hand to a new joiner. The strength is once you figure out how it works, a great deal of innovation can be accomplished with limited bureaucracy. In short, there is a freedom to create.

 

However, many people need a bit of aid to navigate the journey. And while men tend to bond more easily and informally, from my experience, around cycling and golf, women often need a bit more help to form those relationships in the workplace.

 

That is not to say women need to behave like men to build relationships. Managers should be focused on providing them the opportunity to bring their A game to work, mentoring them and helping them develop camaraderie and nurture their confidence.

 

I have a 12-year-old daughter, and I would hope that by the time she is in the workplace we will not need a Women’s Day. I fear that won’t be the case, but I’m also hoping she finds people who share their time and help her build her confidence to produce her A game.

 

Ninety One will be hosting its third Women & Investing webinar on 23 August 2023. Break the bias and take control of your financial future. For further details please visit https://ninetyone.com/en/south-africa/insights/women-and-investing

 

ENDS