| Type | Private |
|---|---|
| Industry | Finance |
| Founded | 1956 |
| Headquarters | New York City, United States of America |
| Website | www.fwa.org |
The Financial Women's Association (FWA) is a New York-based network of female professionals from various sectors of the financial world. The organization is focused on enhancing the role of women in finance, as well as fostering the development of young female leaders.
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In 1956, eight women on Wall Street applied to join the Young Men's Investment Association. Denied admission, they went on to form the Young Women's Investment Association, which would later evolve into the Financial Women's Association. From their first event in 1957—a luncheon with an invited speaker—the organization has experienced considerable growth. [1] As of 2010, the FWA had over 800 members, some from the highest echelons of finance and international business. [2]
One of the primary functions of the FWA is to enhance the existing role of women in finance. To this end, the organization has sponsored a number of fact finding forums to encourage ongoing dialogue between the financial community and the public sector. The FWA also conducts surveys to highlight the inequalities that exist in the corporate world; one survey, for example, focusing on the disparity of women in corporate boards, was featured prominently in the media in late 2006. [3] Another, showing the pay disparity between men and women in the financial sector gained similar attention. [4]
Another aim of the FWA is to actively train and develop future female leaders in the financial field. The FWA provides a variety of networking opportunities where young members can to meet other professionals in their industry, and also offers seminars to young women which explore such topics as estate planning, investment strategies, and strategies for working mothers. [5]
The FWA, through a series of high-profile events and functions, provides a forum for prominent women leaders; past speakers at FWA events have including former Secretary of State Madeline Albright, former New Jersey governor Christine Whitman, the current head of the Federal Deposit Insurance Corporation, Sheila Bair, and the president of Global Wealth & Investment Management strategies at the Bank of America, Sallie Krawcheck. [6] [7]