The Financial Conduct Authority’s new deputy chief executive has urged women not to rule themselves out of senior jobs.
Sarah Pritchard, who took over her role in June, has made the list, compiled by financial organisations, of the 100 Most Influential Women in European Finance this year in recognition of her expanded remit.
“I have always said to people that are younger in their career: don’t worry too much if you don’t have a defined plan”, she said. “I think my CV looks like I have had a very defined plan throughout. What I have done is take opportunity, look for a variety, look for stretch work in organisations that have supported that and work with people that have supported that”.
She added: “I would say to those that are considering more senior roles: “Don’t rule yourself out by perceptions of what you believe that role may entail and always be yourself in the way in which you approach your job”.
The FCA reached gender parity in its senior leadership team in 2023.
“If I compare and contrast, I most immediately joined the FCA from law enforcement. That was a very male environment and made a very monoculture environment”, Pritchard said.
“I saw the importance of role modelling there — there was a female DG (Director General), so that’s the chief executive equivalent and bringing in a new team as she did really visibly marked a different way of leading that organisation”.
There are other women on that list who have made remarkable rise. As an example: Parvoleta Shtereva, who before co-founding Gemcorp Capital a decade ago and becoming one of the few female hedge fund founders in London, spent almost two decades working at big banks and investment management firms. She is now chief investment officer at Gemcorp and co-heads its management committee.
Another example is the appointment of Maria Lusia Gota as the president of Italian fund management association Assicurazioni this year. She became the first woman to oversee the trade body in its more than 40-year history. She is also the first woman to head the asset management division of Intesa Sanpaolo Group and its Eurizon Capital business, a role she has held since April 2024.
However, Pritchard said barriers to progress remain. “I have experienced people treating me differently and making assumptions around levels of ambition after having children”, she said.” I hope that has shifted over recent years. Some of the developments in terms of paternity leave, maternity leave, that have happened since I’ve had children I think have really helped to level the playing field”.
While the FCA pushed pause on introducing new diversity reporting requirement for companies in the financial district of London in March, Pritchard said the regulator still believes that more diverse organisations can make better decisions and grow faster.
“When we talk about diversity and inclusion at the FCA, we talk about supporting the competitiveness overall of the financial services sector, being able to recruit from the widest pool of talent”, she said. “Speaking personally, it’s important that people are assessed on their own merit in terms of talent. I would like to feel that I have got the job because I’m good at what I do and good at my leadership, not simply because of my gender.
She also spoke about the importance of a “speak-up culture”. A survey by Everyone Matters earlier this year found that many workers in the City of London had experienced or witnessed coercive behaviour at their organisations, but many were not confident about reporting such incidents.
Pritchard, who often spends her downtime taking her sons to football matches, also urged women in finance to keep a balance between their work and professional lives.
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