Deloitte together with Fondazione Marisa Bellisario, Consiglio Nazionale dei Dottori Commercialisti e degli Esperti Contabili, Egon Zehnder International and PWA Milan has organized an event entitled “Le quote di “genere” nei Consigli di Amministrazione e nei Collegi Sindacali. Un’opportunità di crescita per tutti”.

The event will take place on July 11th at 16 in Rome at Palazzo Marini, Sala delle Conferenze della Camera dei Deputati.

If you wish to know more about the agenda of the event and how to register, please click here to download the brochure.

Read this very interesting article, entitled “Women in the boardroom” written by Jerzy Buzek – EU Parliament President – and Viviane Reding – EU Justice Commissioner for the International Herald Tribune.

“The ball is now in the companies’ court. We would like to see Europe in the fast lane when it comes to women in boardrooms. Let’s set ambitious targets. By 2015, at least 30 percent of boardrooms should be female. By 2020, this should rise to 40 percent. In an ideal world, businesses would achieve this voluntarily. But we also stand ready, starting in 2012, to intervene with regulatory pressure if necessary”.

Read the article here

25% of seats to women by 2015, if the code is not effective, the imposition of quotas might come back on the agenda.

See the article on FT here.

In Italy quota legislation under discussion tomorrow in Senate, 40% of board seats to women immediately. Huge reaction from both politicians and entrepreneurs association to try and stop the legislation process. If you want to know more check our post “Are you pro or against quotas? Express your opinion on Il Sole 24ore“.

The fourth edition of our EuropeanPWN BoardMonitor has been released. The bi-annual research on women on boards in the top 300 companies in Europe by market capitalization has been present at the WIN Conference on Wednesday October 6th and distributed to the press all over Europe.

We are happy to witness the best improvement since the first release in 2004 (+ 21% versus 2008), however in most countries the starting point is so low that even a double digit growth does not bring the percentage above 15%.

If you want to read the report, the press release and the media coverage, click here.

Roger Abravanel wrote an interesting comment on how the lack of women in Italian boards will negatively impact their performance.

The article was published on Il Corriere della Sera last saturday and is posted on his blog Meritocrazia. Abravanel’s position on Women on Boards is perfectly in line with the goals and spirit that drove our Ready-for-board Women initiative: we are not asking to appoint more women because of equality, but because of merit.

If you wish to read the article, please click here.

What is the situation of women in the 21st century? The International Herald tribune is trying to answer to this question with a series of articles covering different areas of the world and different positions within companies.

“Getting Women Into Boardrooms, by Law” examines the situation of Norway a few years after the introduction of quotas.

“Female Bankers in India Earn Chances to Rule” presents the unusual situation of Indian Women highly represented in top positions among bankers.

“Where Are the Women on Wall Street?” on the other hand discusses about the difficulty of the top women in Wall Street in getting back to top positions now that the economy is recovering.

“In Germany, a Tradition Falls, and Women Rise” presents the evolving situation of Germany, where more schools are introducing afternoon classes and more women are getting back to work after maternity leave.

Just two samples of our 2009 key project “Ready-for-board Women” in the media.

“Donne Leader: Nuove iniziative per il 2010, cambierà qualcosa?” in Blog Meritocrazia on Il Corriere (click here to read the article)

“Donne, autocandidatevi per entrare nei board!” in Affaritaliani (click here to read the article)

Alessandra serves as a Managing Director for Tamburi Investment Partners, an investment merchant bank focusing on mid sized Italian companies listed on the Italian Stock Market.

Prior to the 2007 merge into Tamburi Investment Partners, she co-founded and served as Managing Director of Tamburi & Associati, a company specializing in consulting for M&A and corporate finance transactions.  Prior to that, Alessandra worked for Montagu Euromobiliare SpA as head of Mergers and Acquisitions. Alessandra currently serves on the boards of Management & Capitali SpA and SINV Holding SpA and has had numerous articles published on finance.

1.  How long have you been a member of a board of directors (or how long were you a member), on how many boards do you sit and what are typical board member duties (responsibilities, roles, activities)?

I have been a member of various boards of directors for nearly 20 years. Today I sit on four boards of directors – of which two of listed public companies – and in three cases I am an executive director. Being a BoD member is nothing other than playing a directive or top management role – something that obviously implies a number of responsibilities.

2.  What drove you and guided you towards a top manager and a board member position? Was it a planned and rational decision, was it a series of casual decisions, something else?

I in no way “planned” to become a “top manager”, nor do I recognise myself in that (somewhat empty) definition. Membership of a BoD is the result of a job done with huge commitment, alongside people who esteem me. In one of the BoDs I am an independent director, chosen as such by an entrepreneur who wanted to set up a “sounding board” for discussion and exchange of opinions, with various professional skills represented, so as to give the company the extra input enabling it to take decisions as impartial as possible in relation to the desires of the family controlling it.

3.  Career planning – what 3 pieces of advice would you give a woman in her 20′s whose goal was a board position  within 15 years? What is absolutely vital to include in your career path with that objective (skills, experience, proficiencies, do’s and don’ts)

There is no advice to give to anyone wanting to become a board member because, as such, being a board member means absolutely nothing. Pure careerism, together with basking in the bliss of being a board member, will never be part of my DNA. The pieces of advice to give to those who want to do their job well – and if they do so they will assert themselves – are (i) huge commitment, even regardless of any short-term appreciation that may be received from the organisation where one works; (ii) serious, constant study, in parallel with work, to go into each matter in depth, even beyond what is required at any given time by one’s superiors and, above all regardless of the latter’s competences, which must at least be equalled in terms of both quality and quantity; (iii) willpower, which must constantly enable people to be determined in achieving their personal short- and medium-term professional objectives, and (iv) a sense of humaneness, of correctness and equity to avoid forming part of cynical groups, more interested in making career progress than in true, continuous and outright quality – on a 360-degree basis – in their work.

4.  In your opinion, what would be the most valuable initiatives (by the State, the corporations and individuals) to support a higher number of women on boards?

None. A person has to merit BoD membership regardless of gender – and only people lacking adequate human and professional qualities can believe that mechanisms such as “pink quotas” or similar things are beneficial for women as a category. It is also evident, however, that if certain organisations want to measure themselves with the sensitivity and methodological approaches typical of the female gender, also by appointing women to BoDs, they demonstrate open-mindedness. The State, companies and individuals must be able to make BoD appointments in total freedom.

If you have missed the first part, check the post

1. In your opinion, what are the most important considerations in deciding whether to accept an offered position?

First of all, investigate the company: what do the financial results look like, what is their strategic position in the current environment and do they have an appealing strategy for the next 5 years? Use your informal network to get the story behind the numbers; what do people not tell you about this company? Who are the other board members and what do you know about their reputation? Would they be interesting additions to your network and how could you be of service to them?

Be prepared to say no if the outcome of your first investigation is negative. Especially with a first board position be careful to say ‘yes’ too quickly.

Secondly, match your skills and experience with what is required on the board. You don’t have to have had ample experience in the same line of business but you need to be able to relate to the company and its activities. For instance, if you don’t like computers and ‘geeks’, don’t consider accepting a board position on a company that works in IT or is very IT-driven.

Be realistic about what you can bring to the table and develop at least three key points to convince others that you are the best candidate. This could be your experience in working in Asia, if the company wants to expand into that region; or your expertise on joint venture contracts, if the company’s preferred way of working is through joint ventures. So find your strong points and added value and be able to communicate them. Do not focus on your weak points. Women have a tendency to first think which part of the required skills we do not fulfil, before making the leap. Feel confident that the fact that you are being asked for this position already indicates that your image is the right one.

Thirdly, decide if this particular position will help you reach your ambition for the next 5 – 10 years. If you really want to be in a different area or sector than this company’s offer, think again and try to build a business case for yourself why this choice would be the right one now. Assess what it might ‘cost’ you. If for instance it would mean moving to a different city or country or working extra long hours, make sure you know beforehand what the sacrifices will be and if you and your family are prepared to make them.

1. Have you ever thought “If it weren’t for my presence in this board as a woman…” and for what reason?

Difficult question because, of course, not all women are the same, nor are all men, so I can only speak from my personal experiences. Once I put the not-so-female-friendly conduct of one of the managers on the agenda; I am sure that the topic would not have been discussed if it weren’t for me. From the many stories women on boards have told me and my own experience I do believe that women add an extra dimension to the board. We are often not afraid to ask questions if we do not understand an issue; we ask questions in an open and non-judgmental manner, so that the answers will be the same, open and straightforward. Men observe a difference too; they have told me many times that there is less grandstanding when there is a woman on the board. I have experienced that women bring a different viewpoint and create a different atmosphere in the board – both factors are very important for decision-making processes of the highest quality.

1. Career planning – what 3 pieces of advice would you give a woman in her 20′s whose goal was a board position within 15 years? What is absolutely vital to include in your careerpath with that objective (skills, experience, proficiencies, do’s and don’ts)

Absolutely vital is to make the right choices for jobs from the start of your career. If you want to become a generalist, so a general manager or CEO, line management experience and often expatriate experience are crucial in most large companies, so you will have to plan for them. Another important choice is the choice of your partner; I am not kidding: the most important choice women will make in their 20′s has to do with this. Look behind the rosy clouds to see if your partner will become a partner in your career too, or if you would go for dual careers, or if you are expected to fulfil a more traditional role in the relationship. A good indicator is to observe the rules in the family your partner comes from; that will tell you a lot. After all, if you want to be one of the women who have it all (a loving partner, children and a career), tough decisions need to be made at the kitchen table. Third piece of advice is about education; go for the best education you can possibly get and continue to learn throughout your whole career. Learning new skills and expanding your horizons is key to maintaining an open mind and positive energy to contribute to the cause you have chosen for your life. Last, but not least, get mentors who will guide you and inspire you along the way. You never can have too many mentors really, so try to find them from different backgrounds, organisations and phases in life. A women’s network, like European Professional Women’s Network (www.europeanpwn.net) is ideal for finding some of them, so join and become active. Mentors have always enriched my life, both professionally and personally, and have given me crucial pieces of advice in every stage of my career. I could not have done it without them.

This event is a collaboration between PWA and Korn Ferry International

A look at who occupies management positions in financial companies around the world shows a heavy bias towards men, and an even more dramatic disparity in numbers between male and female executives can be found in Italy. Why is this the case? What can be done to increase women in leadership positions?  For those who have managed to reach the upper levels, how did they get there?  What should companies and individuals be doing to bring more women into corporate leadership roles?

PWA President Monica Pesce, will moderate a discussion designed to help us understand how women have achieved success so far, what we can be doing to increase opportunities and what benefits female leadership will bring to the financial sector and world economy as a whole.

The panel will share their experiences and perspectives gained from working at different companies internationally to help us to find ways to increase opportunities for women seeking leadership roles.

About the panel

Giulia Belloni, Senior Client Partner, Korn Ferry International Milan has more than two decades of corporate finance experience.  Prior to joining Korn/Ferry in 1999, she worked for JP Morgan in Milan, where she established a fixed income sales team covering both Italian clients in the domestic and international markets as well as foreign investors in the Italian market, and Chase Manhattan Bank. Ms. Belloni is a graduate of economics from Bocconi University in Milan.

Alessandra Perrazzelli is the Head of International Affairs at Intesa Sanpaolo, one of the largest Italian and European banking groups. Based in Brussels for the last 16 years, Ms Perrazzelli works with the European Institutions on the application of EU banking and financial services law to the internal market. She was appointed to oversee the Gemma project which promotes capitalizing on internal female talent. She holds law degrees in Italy and in New York. She has been mentioned among the top 100 women lawyers in competition law by the Global Competition Review in 2004 and won the 2007 “Premio Bellisario” in the Communication Sector, for her activity promoting Italian interests at EU and International level.

Monica Poggio is head of Corporate Culture for Unicredit Group. Her career in Human Resources spans various multinationals, primarily in the pharmaceutical and mechanical engineering industries, and included managing projects specialized in developing female leadership programs and launching women’s networks. Since 2007 she has directed the “Women and Leadership” track for Unicredit Group.

Fabio L. Sattin is Chairman and Founding Partner of Private Equity Partners Spa, a primary independent financial company, that provides investments in equity capital in unlisted companies. He is currently professor of Business Strategy and Policy at the University Cà Foscari in Venice, and  professor of Private Equity and Venture Capital at Bocconi University. He is co-author of “Private Equity and Venture Capital”, widely used as a text in many university courses and MBA programs in Italy.

Cocktails 7-8 p.m. / Presentation 8-9.30 p.m.
Grand Hotel et de Milan. Via Manzoni 29, (MM Montenapoleone)

Free for members, €20 for guests, payable by cash at the event

Members, please register your participation at www.EuropeanPWN.net

For guest reservations, or additional information, please contact speakers@pwa-milan.org

PWA gratefully acknowledges the contributions of:

Accenture, ATKearney, Bain & Co, Banca d’ Italia, Borsa Italiana, BNP, Cassa Depositi e Prestiti, Citigroup, Crédit Suisse, Deloitte & Touche, Deutsche Bank, General Electric, Gruppo Allianz, Gruppo Banco Popolare, Gruppo Intesa Sanpaolo, Gruppo Unicredit, Mediobanca, Natixis, PriceWaterhouseCoopers, Sace, Tesoro, UBS Italia