Looking Back, Moving Forward: Trailblazing Women in Finance

For women in the world of finance, life can move at a hectic pace as we seek to balance the needs of our company, clients and families. For many of us, it’s a demanding environment but one that we thrive in, bringing passion and purpose together in ways that are challenging yet rewarding. But that pace can make it hard to pause and appreciate how far we’ve come—and whose shoulders we stand upon.

That’s why I am grateful for moments like Women’s History Month, moments that invite us to pause and reflect on the women who inspired so many of us and who have blazed a path forward to great opportunity for all. ?

Women like Maggie Lena Walker from Richmond, Virginia, who at the height of Jim Crow and racial segregation in 1903, made history as the first African American woman in the United States to found a bank. Women like Annie Grimes, who was hired by Merrill Lynch founder Charlie Merrill in 1909 as the first bond saleswoman on Wall Street. And women like Muriel Siebert, who became the first female member of the New York Stock Exchange in 1967, at a time when it was still legal for many financial institutions to deny women credit cards without approval from their husbands.

Maggie, Annie, Muriel—and countless other women in finance—didn’t have an easy path forward. In fact, they had no real path at all. But in pushing to expand opportunities and have their voices heard, they blazed a trail before them, enabling opportunities for generations of women who came after them.

Today, the gender balance in finance is nearing equilibrium, with women constituting 46% of new entrants into the field. It’s exciting to see the progress being made towards parity in leadership roles as well. The number of women in financial services at the highest levels—the C-suite and the board—is rising. At Bank of America, this trend is even more pronounced, with women comprising 33% of our Board of Directors. This commitment to gender equality resonates throughout our organization, where women constitute 50% of our global workforce and 32% of our management team.

I take pride in having a global workforce comprised of 50% women, but the work isn’t done – we must continue to hire, empower and advance women. From personal experience I know that connecting with women who bring diverse perspectives to the table has helped me grow immensely – both personally and professionally. Knowing how powerful these kinds of connections are, our Global Commercial Banking team has launched an internal group, Women Empowering Business or “WEB,” comprised of almost 200 diverse, intelligent and dedicated teammates who collaborate with women business owner clients to further foster growth and inclusion in finance.

On a larger scale, our global Employee Network, LEAD for Women, has more than 29,000 memberships around the world. This network is dedicated to promoting professional interactions that help attract, develop, retain and advance women throughout the company. I’m hopeful that women-led initiatives like this will lead to deep connections, innovative ideas, and prime the workforce for the next generation of women.

For our emerging female talent across the company, and as a mom of two college-age daughters, I’m deeply grateful for the trailblazers whose perseverance paved the way for women on Wall Street today. It’s critical for us all to recognize the significance of our roles in shaping the future for the generations of women who follow. Whether we’re financial advisors, corporate strategists, or investors – the decisions we make today set the course for tomorrow’s opportunities.