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Women have made a huge contribution to the development of world finance
A few years ago, a World Economic Forum report on gender equality noted that female talent is one of the most underutilized business resources. In some industries, such as finance, this is especially evident. Nevertheless, a number of famous women have made tremendous contributions to the development of world finance.
Christine Lagarde has been President of the European Central Bank (ECB) since November 1, 2019. Prior to that, since 2011, she served as Managing Director and Chairman of the Executive Board of the International Monetary Fund. And this is the first female head of the foundation since its inception in 1944. Even earlier, from 2007 to 2011, Lagarde held the post of Minister of Economy, Finance and Industry of France (became the first woman in the history of the G7 countries - the Minister of Finance), and since 2005 - the post of Minister of Foreign Trade of France.
In 2019, Kristalina Georgieva, who had previously served as the World Bank's Chief Executive Officer for two years, was elected to the position of Managing Director of the International Monetary Fund. During this term, she also served as Acting President of the World Bank Group for three months. Previously, Kristalina Georgieva served as Vice President of the European Commission for Budget and Human Resources, and before that - the European Union Commissioner for International Cooperation, Humanitarian Aid and Anti-Crisis Measures, and managed one of the largest budgets in the world for humanitarian assistance. Ms. Georgieva started her career at the World Bank.
Chrystia Freeland, who is of Ukrainian descent, became Canada's first female finance minister. She was appointed to this post in August 2020. Christya began her career as a journalist for such major publications as the Financial Times, The Washington Post, The Economist, Thomson Reuters. In 2013, Freeland changed her journalistic career to a political one. In 2015, she was appointed the Minister of International Trade of Canada, then in 2017 - the Minister of Foreign Affairs of Canada in the government of Justin Trudeau. In 2019, she took the position of Deputy Prime Minister of Canada, Minister of Intergovernmental Affairs, and since 2020 she has been the Minister of Finance of Canada. Also Chrystia Freeland is a writer. Her books have made the New York Times bestseller list and won the Lionel Gelber Prize for Non-Fiction Coverage of International Affairs.
Another first female finance minister, this time in the United States. Janet Yellen took this post in the administration of the incumbent President Joe Biden. From 2014-2018, Yellen was the chairman of the US Federal Reserve (a post commonly referred to as "the world's most powerful central banker"), the first woman in that capacity. In the 90s of the last century, she was a member of the Board of Governors of the Federal Reserve, and also headed the Council of Economic Advisers (Council of Economic Advisers). Later, in 2004-2010, she was the Governor of the Federal Reserve Bank of San Francisco. Janet Yellen is the first person in American history to consistently occupy all three top economic posts in the state. This is an outstanding career for any economist, much less for a woman in the face of gender inequality.
In the fall of 2020, Odile Renault-Basso was elected President of the European Bank for Reconstruction and Development, an international financial and credit institution that helps countries from Central Europe to Central Asia to carry out market reforms and actively integrate the economies of these countries into international economic relations. Prior to her appointment, Odile Renaud-Basso served as CEO of the French Treasury, where she oversaw the development of French economic strategy, dealt with European and international financial relations, trade policy, financial regulation and public debt management. In this position, she also served as Vice President of the European Economic and Financial Committee, Deputy in the G7 and G20 groups, Deputy Governor of the World Bank, EBRD and African Development Bank.
Earlier this year, the World Trade Organization (WTO) selected a new CEO - Nigeria's Ngozi Okonjo-Iweala. During her career, Ngozi served as Minister of Finance and Minister of Foreign Affairs of Nigeria. During her 25 years at the World Bank, Okonjo-Iweala held a number of senior positions, including the position of Managing Director (the second most important position in the bank). She also twice ran for the presidency of the World Bank.
It is impossible not to recall well-known Ukrainian women who made an important contribution to the development of finance in the world and in Ukraine.
In the late 90s and early 2000s, Oksana Markarova worked as an advisor on economic policy and manager for external and corporate relations in the American private equity fund Western NIS Enterprise Fund (now managed by Horizon Capital), and in 2000 she did an internship in the United States. at the World Bank. Then there were years of work in the banking sector. Since 2015, Markarova has moved to the public sector. From March 2015 to April 2016, she held the position of Deputy Minister-Chief of Staff of the Ministry of Finance of Ukraine, after that - the position of First Deputy Minister of Finance of Ukraine. In 2018, she was appointed to the post of Minister of Finance. After resigning from her post of minister in 2020, she founded the Capital Market Development Fund and launched the Archidata startup.
Valeria Gontareva is a Ukrainian financier, banker, stock market specialist. She was the first woman head of the National Bank in the history of Ukraine. Included in the list of the most influential women in the world in 2019 according to the Financial Times. Gontareva has 20 years of experience in the financial and banking sectors. Previously, she held executive positions in such banks as Societe Generale, ING Bank Ukraine, Bank Avangard. In June 2014, the Verkhovna Rada of Ukraine approved Valeria Gontareva as the Chairperson of the National Bank of Ukraine. After her retirement in 2017, she moved to London and works at the London School of Economics.
Natalya Yaresko is a public figure and entrepreneur, co-founder and partner-director of Horizon Capital from March 2006 to December 2014, President and CEO of Western NIS Enterprise Fund from February 2001 to December 2014. In 2014 she was appointed to the post of Minister of Finance of Ukraine. In October 2016, Yaresko became an employee of the Atlantic Council Dinu Patriciu Eurasia Center. He is also an advisor to the Canadian-Ukrainian Chamber of Commerce (CUCC).
It is believed that the gender gap in finance is larger than in any other area - this has happened historically. But the women mentioned in the article - and this is far from all - have shown by their example that gender stereotypes can be destroyed. Women are creating the future of finance.
A few years ago, a World Economic Forum report on gender equality noted that female talent is one of the most underutilized business resources. In some industries, such as finance, this is especially evident. Nevertheless, a number of famous women have made tremendous contributions to the development of world finance.
Christine Lagarde, Head of the European Central Bank
Christine Lagarde has been President of the European Central Bank (ECB) since November 1, 2019. Prior to that, since 2011, she served as Managing Director and Chairman of the Executive Board of the International Monetary Fund. And this is the first female head of the foundation since its inception in 1944. Even earlier, from 2007 to 2011, Lagarde held the post of Minister of Economy, Finance and Industry of France (became the first woman in the history of the G7 countries - the Minister of Finance), and since 2005 - the post of Minister of Foreign Trade of France.
Kristalina Georgieva, Managing Director, International Monetary Fund
In 2019, Kristalina Georgieva, who had previously served as the World Bank's Chief Executive Officer for two years, was elected to the position of Managing Director of the International Monetary Fund. During this term, she also served as Acting President of the World Bank Group for three months. Previously, Kristalina Georgieva served as Vice President of the European Commission for Budget and Human Resources, and before that - the European Union Commissioner for International Cooperation, Humanitarian Aid and Anti-Crisis Measures, and managed one of the largest budgets in the world for humanitarian assistance. Ms. Georgieva started her career at the World Bank.
Chrystia Freeland, Deputy Prime Minister, Minister of Finance of Canada
Chrystia Freeland, who is of Ukrainian descent, became Canada's first female finance minister. She was appointed to this post in August 2020. Christya began her career as a journalist for such major publications as the Financial Times, The Washington Post, The Economist, Thomson Reuters. In 2013, Freeland changed her journalistic career to a political one. In 2015, she was appointed the Minister of International Trade of Canada, then in 2017 - the Minister of Foreign Affairs of Canada in the government of Justin Trudeau. In 2019, she took the position of Deputy Prime Minister of Canada, Minister of Intergovernmental Affairs, and since 2020 she has been the Minister of Finance of Canada. Also Chrystia Freeland is a writer. Her books have made the New York Times bestseller list and won the Lionel Gelber Prize for Non-Fiction Coverage of International Affairs.
Janet Yellen, US Treasury Secretary
Another first female finance minister, this time in the United States. Janet Yellen took this post in the administration of the incumbent President Joe Biden. From 2014-2018, Yellen was the chairman of the US Federal Reserve (a post commonly referred to as "the world's most powerful central banker"), the first woman in that capacity. In the 90s of the last century, she was a member of the Board of Governors of the Federal Reserve, and also headed the Council of Economic Advisers (Council of Economic Advisers). Later, in 2004-2010, she was the Governor of the Federal Reserve Bank of San Francisco. Janet Yellen is the first person in American history to consistently occupy all three top economic posts in the state. This is an outstanding career for any economist, much less for a woman in the face of gender inequality.
Odile Renault-Basso, EBRD President
In the fall of 2020, Odile Renault-Basso was elected President of the European Bank for Reconstruction and Development, an international financial and credit institution that helps countries from Central Europe to Central Asia to carry out market reforms and actively integrate the economies of these countries into international economic relations. Prior to her appointment, Odile Renaud-Basso served as CEO of the French Treasury, where she oversaw the development of French economic strategy, dealt with European and international financial relations, trade policy, financial regulation and public debt management. In this position, she also served as Vice President of the European Economic and Financial Committee, Deputy in the G7 and G20 groups, Deputy Governor of the World Bank, EBRD and African Development Bank.
Ngozi Okonjo-Iweala, Director General of the World Trade Organization (WTO)
Earlier this year, the World Trade Organization (WTO) selected a new CEO - Nigeria's Ngozi Okonjo-Iweala. During her career, Ngozi served as Minister of Finance and Minister of Foreign Affairs of Nigeria. During her 25 years at the World Bank, Okonjo-Iweala held a number of senior positions, including the position of Managing Director (the second most important position in the bank). She also twice ran for the presidency of the World Bank.
It is impossible not to recall well-known Ukrainian women who made an important contribution to the development of finance in the world and in Ukraine.
Oksana Markarova, ex-Minister of Finance of Ukraine, Ambassador Extraordinary and Plenipotentiary of Ukraine to the United States
In the late 90s and early 2000s, Oksana Markarova worked as an advisor on economic policy and manager for external and corporate relations in the American private equity fund Western NIS Enterprise Fund (now managed by Horizon Capital), and in 2000 she did an internship in the United States. at the World Bank. Then there were years of work in the banking sector. Since 2015, Markarova has moved to the public sector. From March 2015 to April 2016, she held the position of Deputy Minister-Chief of Staff of the Ministry of Finance of Ukraine, after that - the position of First Deputy Minister of Finance of Ukraine. In 2018, she was appointed to the post of Minister of Finance. After resigning from her post of minister in 2020, she founded the Capital Market Development Fund and launched the Archidata startup.
Valeria Gontareva, ex-head of the National Bank of Ukraine
Valeria Gontareva is a Ukrainian financier, banker, stock market specialist. She was the first woman head of the National Bank in the history of Ukraine. Included in the list of the most influential women in the world in 2019 according to the Financial Times. Gontareva has 20 years of experience in the financial and banking sectors. Previously, she held executive positions in such banks as Societe Generale, ING Bank Ukraine, Bank Avangard. In June 2014, the Verkhovna Rada of Ukraine approved Valeria Gontareva as the Chairperson of the National Bank of Ukraine. After her retirement in 2017, she moved to London and works at the London School of Economics.
Natalya Yaresko, ex-Minister of Finance of Ukraine
Natalya Yaresko is a public figure and entrepreneur, co-founder and partner-director of Horizon Capital from March 2006 to December 2014, President and CEO of Western NIS Enterprise Fund from February 2001 to December 2014. In 2014 she was appointed to the post of Minister of Finance of Ukraine. In October 2016, Yaresko became an employee of the Atlantic Council Dinu Patriciu Eurasia Center. He is also an advisor to the Canadian-Ukrainian Chamber of Commerce (CUCC).
It is believed that the gender gap in finance is larger than in any other area - this has happened historically. But the women mentioned in the article - and this is far from all - have shown by their example that gender stereotypes can be destroyed. Women are creating the future of finance.
