Friday 13th March 2009

GBA Newsletter: March 2009

4 Minutes Read

Letter from the Chair

The world celebrates women and their incredible accomplishments this month with International Women’s Day on March 8. Let me be the first of many to congratulate all of our GBA for Women members on your efforts to promote, support and develop women business leaders. There is much written these days about whether we would be in this economic upheaval if more women were in positions of power and influence. Further on in the newsletter there are a few articles of this topic you will find of interest.

The first week in February I was joined by members of the Governing Board at our annual strategy meeting held in Washington, D.C., hosted by our premier sponsor, IFC of the World Bank Group. It was my first trip to the U. S., and while the temperatures were quite frigid — I even saw my first snow fall — our discussions over two days provided a lot of energy as we look ahead to building an even better organization for you.

Specifically, we are undertaking some ambitious plans to improve our services over the next 3 to 4 months.

Creating a Community

Enhancements to our website will allow everyone to more easily access the people and program knowledge you seek.
Creating a social network for dialogue and exchange of ideas will take place in real time.

Content and Context

Adding more content in our Resources area will give access to current research articles and papers to deepen and broaden your programs
Establishing a data base of financial institutions, corporations, government agencies and women business organizations who are invested in women’s wealth creation.

Collaboration and Connections

Develop a matrix of subject matter experts and consultants with their profile and contact information who are available to assist you in developing or enhancing your women in business strategy or existing programs.

As you can see we are excited about women and their role in creating the future economic development and our partnership with them through all of our efforts.

Sincerely,

Larke Riemer Head of Women’s Markets

GBA Board Chair Westpac Banking Corporation

Making the Scene

Dr. Muhammad Yunnis, Nobel Peace Prize Winner and founder of Grameen Bank has pioneered microcredit for millions of women worldwide to lift their families out of poverty. His new book, “Creating a World Without Poverty” is currently in release. Following, below, are pictures of Dr. Yunnis and members of the GBA Board taken on February 4 at the IMF where Dr. Yunnis was a featured speaker.

by Teri Cavanagh

International Women’s Day is a global day celebrating the economic, political and social achievements of women past, present and future. The first IWD was held in 1911. This year there are 879 IWD events in 57 countries. In some countries like, China, Russia, Vietnam and Bulgaria, IWD is a national holiday.

Following are some current articles featuring women’s role in shaping the new world order during these particularly challenging times that will be of interest to you. While there is more work to be done, let’s also celebrate the work we have already done as women working together.

In Banking Crisis, Guys Get the Blame More Women Needed In Top Jobs, Critics Say

By Kevin Sullivan and Mary Jordan

Washington Post Foreign Service

LONDON, Feb. 10 — Fred, Tom, Andy, Dennis, Eric, John, Stephen, Antonio and Paul ran British banks that lost billions of dollars.

So they have been called in for a grilling by Nick, Graham, Colin, Jim, Stephen, Michael, Andrew, George, Mark, Peter, three Johns — and a single, solitary Sally. Read the full article, online here.

Why women managers shine in a downturn

By Michel Ferrary | FinancialTimes.com

Published: March 2 2009

Global stock markets have been collapsing since the beginning of 2008. Analysts and economists are now looking for companies that are resisting the crash.

My research project on companies from the French CAC 40 stock exchange index pointed out that the more women there were in a company’s management, the less the share price fell in 2008. A significant coefficient of correlation links the two variables. Read the full article, online here.

Mistresses of the Universe

By Nicholas D. Kristof

Published: February 7, 2009

Banks around the world desperately want bailouts of billions of dollars, but they also have another need they’re unaware of: women, women and women.

At the recent World Economic Forum in Davos, Switzerland, some of the most interesting discussions revolved around whether we would be in the same mess today if Lehman Brothers had been Lehman Sisters. The consensus (and this is among the dead white men who parade annually at Davos) is that the optimal bank would have been Lehman Brothers and Sisters.