GBA Newsletter: February 2009

Friday 13th February 2009

GBA Newsletter

Letter from the Chair

Greetings everyone! Happy New Year to you. In 2009 we will continue to witness unprecedented economic turmoil, and our financial institutions will have continuing challenges ahead. However, as the recent historic Presidential election in the U.S. has demonstrated, we can all have hope that change brings with it.

In the spirit of change for the better, I am excited to tell you about a few changes we are making to your organization with new leadership. Betty Wood, our Treasurer will be assuming added responsibilities in governance with Secretariat role as well as Head of Finance and Operations including administration oversight.

Board member, Teri Cavanagh, will be Head of Strategy, Marketing and Communications. Teri and Betty are founding members of the GBA, and they continue to demonstrate vision, leadership and commitment to building GBA for future growth.

I am very pleased to have them working with me and the Governing Board in an active capacity with their new responsibilities.

In fact, I am writing this letter to all of you as I prepare to join our Governing Board in Washington, D.C., for two days of meetings to chart our strategic direction. Our efforts will result in many outcomes we will share with all of you in the months to come.

All the best for a successful year ahead for your efforts and for the support of women in business.


Larke Riemer Head of Women’s Markets

GBA Board Chair Westpac Banking Corporation

Member Spotlight

by Teri Cavanagh

In an effort to keep sharing the knowledge to help all of you deepen, broaden, and strengthen your programs, I would like to use this space each month to highlight a member and their program accomplishments.

If you would like to be the first, just let me know!

To get us started, below is a press release that clearly demonstrates the power of partnership on a global level. Congratulations to Standard Chartered and the World Bank’s Gender Action Plan that was featured January 29 at Davos.

Administration changes

by Betty Wood

Members will recall from the Annual General Meeting in October that the GBA was beginning the process of moving administrative functions externally. The IFC has been incredibly supportive over the past four years by providing these services on our behalf and it’s now time for GBA to be independent in this regard. We are pleased to advise that the GBA has contracted with 401 Bay Centre in Toronto, CANADA to be our base. This centre offers us a virtual office and will provide all the required support to enable smooth functioning of our organization. Effective February 1st, 2009, please take note of the following new contact information for GBA:

Global Banking Alliance for Women

401 Bay Street, Suite 1600, Toronto, ON, Canada M5H 2Y4

Tel 1-416-646-6784

The Power of Partnership

World Bank Calls for Expanding Economic Opportunities for Women as Global Economic Crisis Continues

Press Release No:2009/214/PREM

DAVOS, January 29, 2009 -World Bank Group Managing Director Ngozi N. Okonjo-Iweala today joined business leaders in highlighting the need to expand economic opportunities to women worldwide, as they are expected to be among those who suffer the most from the ongoing economic crisis. She also launched a new public-private partnership to support women around the world.

“We must ensure that women get the support they need to avoid setbacks during the ongoing economic crisis and to build the human capital of the next generation,” said Okonjo-Iweala in a meeting with private sector leaders during the World Economic Forum. “When women are given access to resources and opportunities, it brings benefits to families, communities and the next generation. So it’s not only fair, it’s also smart economics.”

Girls are the most likely to be withdrawn from school and be put to work to help their families during economic crises. And adult women face the risk of suffering disproportionally from the jobs lost since they constitute between 60 and 80 percent of export manufacturing workers in developing countries, a sector expected to shrink due to fall in demand.

Read More…click here to read the entire Press Release online.