Women in Capital Markets (WCM) recognized four executives at a luncheon in Toronto on Wednesday for their commitment to helping young women advance their careers in the financial services sector.
Richard Nesbitt, the recently retired chief operating officer (COO) of Canadian Imperial Bank of Commerce (CIBC), received the biggest recognition as he was bestowed with the WCM Visionary Award. First established in 2010, this was only the second time the award has been given out since its inception. The WCM Visionary Award is presented periodically to recognize a senior-level executive — either male or female — with more than 20 years of experience in capital markets for his or her outstanding life achievements and contributions to the capital markets industry, in general, and women in capital markets, in particular. It was last presented in 2010 to Heather-Anne Irwin, founding president of WCM.
“A recipient of this award is someone who has really committed both their professional and personal capital to drive change,” says Jennifer Reynolds, president of WCM, “and it’s an individual who has made a significant impact in the industry.”
Nesbitt joined CIBC in 2008 following more than 20 years in the securities industry, in which he held various positions, including CEO of TSX Group Inc., president and COO of Baystreet Direct Inc. and president and CEO of HSBC Securities (Canada) Inc.
“We still have a ways to go at the senior executive level,” says Nesbitt, who is also an adjunct professor at the Rotman School of Management in Toronto and chairman of the advisory board of the Mind Brain Behaviour Hive at the University of Toronto. “When we are still seeing 80% of boards being male, as well as males dominating the chair committees, these are not consistent with what is best for the corporations. We are at the precipice of some fairly rapid change and once people conclude that advancing women into senior roles is good for business, it will happen naturally.”
Robbie Pryde, vice chairman and head of equities with TD Securities Inc. (TDSI) and executive vice president of Toronto-Dominion Bank (TD), and Anne Marie O’Donovan, executive vice president and chief administration officer, global banking and markets, with Bank of Nova Scotia, were also recognized as they were both presented with the WCM’s Award for Leadership. The award, now in its eighth year, recognizes senior executives — both male and female — who have combined professional excellence with a demonstrated commitment to advancing and supporting women in capital markets.
“Getting into the industry is becoming easier for women, but we still need to be educating women, and men, as early as the high school years so that the next generation are aware of what their opportunities really include,” says Pryde. “It’s important that all financial services firms, like TD, get out and not just recruit to the industry, but also educate the younger generation on what the financial services sector has to offer. In turn, we will see a higher percentage of women coming into those roles.”
Finally, Jennifer Ocampo-King, vice president, prime brokerage, with TDSI, was awarded the 2014 WCM Rising Star Award. This award, now in its fifth year, is presented to an individual who is a high-performing role model at work and has made a lasting contribution by providing inspirational leadership and mentorship to young women in the industry.