Hello Rainmakers,
Spend five minutes speaking to the women helping shape the future of corporate finance and one thing quickly becomes apparent: they’re not succeeding by doing things the way they’ve always been done.
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Women are succeeding by bringing different perspectives, asking different questions and spotting opportunities others might miss.
For decades, corporate finance was known for being a fairly homogenous industry. The deals were done through familiar networks, leadership teams often looked the same, and success followed a relatively well-trodden path.
Today, that picture is changing.
And according to two women helping drive that change from within private equity, the shift isn’t just good for diversity – it’s good for business.
For Beth Houghton, partner at Palatine, working in male-dominated industries has simply been the norm throughout her career.
“My first career was as a programmer at an IT consultancy, so I have always worked in male-dominated sectors – I genuinely do not know anything else,” she says.
However, her route into private equity wasn’t conventional.. After completing an MBA at Manchester Business School, she offered to intern with Palatine while the firm was raising its first fund. When the fund closed, a full-time role followed.
Nearly two decades later, she has become one of the leading voices in impact investing and sustainability within private equity – but she says it all started for her by simply putting her hand up.
That willingness to embrace opportunities before feeling completely ready is something Houghton believes more women should do.
“Back yourself and put your hand up for things before you feel completely ready, most people in this industry did not wait until they felt fully qualified for a role.”
It’s advice that resonates with Fiona Hatch, investment director and private equity sustainability lead at Foresight, who has spent 17 years working across corporate finance, corporate leadership and investing.
“Women typically tend to undersell themselves, whether it be for the role they think they deserve or the level of investment they seek, so back yourself and step into opportunities,” she says.
Like Beth Houghton, she arrived in corporate finance through a different route but was driven by a similar curiosity.
“I have worked in corporate finance for 17 years, in practice at a corporate and now as an investor, so I have experienced business from all sides,” she says. “It is from these experiences that I learnt I enjoy thoroughly understanding a business and what makes it, and the people behind it, tick.”