The sole woman in charge of an investment bank in Europe is wielding a unique opportunity to reshape her division and boost growth at one of Spain’s largest lenders.
Banco Bilbao Vizcaya Argentaria executive Luisa Gomez Bravo, a 24-year veteran of Spain’s second-largest bank, is introducing one of the most ambitious recruitment programmes in the industry while driving up the share of female new hires.
The Bilbao-based lender is looking to boost headcount in the division by about 400 this year, or 10 per cent, at a time when banks globally are in a bidding war for talent.
When Ms Gomez started out in the investment banking business at Salomon Brothers in 1993, the industry looked a little different.
The “macho alpha” bravado prevalent then has by now mostly disappeared across trading floors and banks are pushing for more women to enter and stay in the industry, she said in an interview at the bank’s headquarters this month, the first since she took over the position.
“It’s not about favouring women over men, it is about letting female talent flourish, and then picking the best,” she said. “And we need to encourage that female talent and help them improve their skills.”
While Ms Gomez is the only woman running a corporate and investment-bank business in Europe, French lender Natixis’ equivalent unit is run jointly by a woman, Anne Christine Champion, and a man, Mohamed Kallala, as co-heads.
'Wall Street movie'
European investment bankers have enjoyed fatter bonuses in recent quarters and staff costs are on the rise as firms try to hold on to their employees after the pandemic trading and deal-making boom.
Societe Generale said this month that it’s planning to “massively” raise its bonus pool after a year of record profit.
BBVA’s corporate and investment bank currently has about 3,800 employees in offices from Spain to Mexico, Hong Kong, New York and Turkey. The ratio of female staff to total headcount rose to 39.5 per cent at the end of 2021 from 37 per cent in 2019. New hires are 46.4 per cent female though, up from 35 per cent in 2019. Ms Gomez has also pushed for a graduate training programme just for women, which is currently conducting a selection process.
It’s not about favouring women over men, it is about letting female talent flourish, and then picking the best
Luisa Gomez Bravo,
global head of corporate and investment banking, BBVA
While the bank has introduced measures to support women’s goals, Ms Gomez says there’s still a problem of perception about the industry.
“I often see that in the progression of women’s careers, women themselves do not apply for vacancies, there are many biases,” she said. “Women also have to do their due diligence and understand that things are no longer like the Wall Street movie; the environment has changed.”
BBVA is a mostly retail-focused lender that’s caught attention in recent months for an ambitious shareholders remuneration programme and the move to boost its presence in Turkey at a time of economic turmoil in the nation.
Ms Gomez, 51, has held roles at BBVA varying from head of asset management to leading investor relations. When she was appointed in December 2018 to the top post in corporate and investment banking, the mandate for the mother of four was to grow the business.
The unit has since increased its weight in the bank from being 22 per cent of the group’s profit to 24 per cent at the end of 2021.
Ms Gomez’s goal is to pursue growth by rolling out new types of products including across borders. The bank has launched a supply-chain finance solution, and also introduced the first ESG-linked credit in Colombia.
In terms of fostering diversity in the workplace, Ms Gomez says she encourages women to be proactive about promoting their careers, and to balance that with other demands on their time, including family. That is more possible now than ever before, she argues.
Isle of Dogs
Director: Wes Anderson
Starring: Bryan Cranston, Liev Schreiber, Ed Norton, Greta Gerwig, Bill Murray, Jeff Goldblum, Scarlett Johansson
Three stars
The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
The specs
Engine: 3.8-litre twin-turbo flat-six
Power: 650hp at 6,750rpm
Torque: 800Nm from 2,500-4,000rpm
Transmission: 8-speed dual-clutch auto
Fuel consumption: 11.12L/100km
Price: From Dh796,600
On sale: now
Our legal consultant
Name: Dr Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
The alternatives
• Founded in 2014, Telr is a payment aggregator and gateway with an office in Silicon Oasis. It’s e-commerce entry plan costs Dh349 monthly (plus VAT). QR codes direct customers to an online payment page and merchants can generate payments through messaging apps.
• Business Bay’s Pallapay claims 40,000-plus active merchants who can invoice customers and receive payment by card. Fees range from 1.99 per cent plus Dh1 per transaction depending on payment method and location, such as online or via UAE mobile.
• Tap started in May 2013 in Kuwait, allowing Middle East businesses to bill, accept, receive and make payments online “easier, faster and smoother” via goSell and goCollect. It supports more than 10,000 merchants. Monthly fees range from US$65-100, plus card charges of 2.75-3.75 per cent and Dh1.2 per sale.
• 2checkout’s “all-in-one payment gateway and merchant account” accepts payments in 200-plus markets for 2.4-3.9 per cent, plus a Dh1.2-Dh1.8 currency conversion charge. The US provider processes online shop and mobile transactions and has 17,000-plus active digital commerce users.
• PayPal is probably the best-known online goods payment method - usually used for eBay purchases - but can be used to receive funds, providing everyone’s signed up. Costs from 2.9 per cent plus Dh1.2 per transaction.
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Need to know
When: October 17 until November 10
Cost: Entry is free but some events require prior registration
Where: Various locations including National Theatre (Abu Dhabi), Abu Dhabi Cultural Center, Zayed University Promenade, Beach Rotana (Abu Dhabi), Vox Cinemas at Yas Mall, Sharjah Youth Center
What: The Korea Festival will feature art exhibitions, a B-boy dance show, a mini K-pop concert, traditional dance and music performances, food tastings, a beauty seminar, and more.
For more information: www.koreafestivaluae.com
Smart words at Make Smart Cool
Make Smart Cool is not your usual festival. Dubbed “edutainment” by organisers Najahi Events, Make Smart Cool aims to inspire its youthful target audience through a mix of interactive presentation by social media influencers and a concert finale featuring Example with DJ Wire. Here are some of the speakers sharing their inspiration and experiences on the night.
Prince Ea
With his social media videos accumulating more half a billion views, the American motivational speaker is hot on the college circuit in the US, with talks that focus on the many ways to generate passion and motivation when it comes to learning.
Khalid Al Ameri
The Emirati columnist and presenter is much loved by local youth, with writings and presentations about education, entrepreneurship and family balance. His lectures on career and personal development are sought after by the education and business sector.
Ben Ouattara
Born to an Ivorian father and German mother, the Dubai-based fitness instructor and motivational speaker is all about conquering fears and insecurities. His talk focuses on the need to gain emotional and physical fitness when facing life’s challenges. As well managing his film production company, Ouattara is one of the official ambassadors of Dubai Expo2020.
Our legal columnist
Name: Yousef Al Bahar
Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994
Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers
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The specs: 2018 Nissan 370Z Nismo
The specs: 2018 Nissan 370Z Nismo
Price, base / as tested: Dh182,178
Engine: 3.7-litre V6
Power: 350hp @ 7,400rpm
Torque: 374Nm @ 5,200rpm
Transmission: Seven-speed automatic
Fuel consumption, combined: 10.5L / 100km
The five pillars of Islam
The Birkin bag is made by Hermès.
It is named after actress and singer Jane Birkin
Noone from Hermès will go on record to say how much a new Birkin costs, how long one would have to wait to get one, and how many bags are actually made each year.
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
Specs
Engine: Dual-motor all-wheel-drive electric
Range: Up to 610km
Power: 905hp
Torque: 985Nm
Price: From Dh439,000
Available: Now
Pharaoh's curse
British aristocrat Lord Carnarvon, who funded the expedition to find the Tutankhamun tomb, died in a Cairo hotel four months after the crypt was opened.
He had been in poor health for many years after a car crash, and a mosquito bite made worse by a shaving cut led to blood poisoning and pneumonia.
Reports at the time said Lord Carnarvon suffered from “pain as the inflammation affected the nasal passages and eyes”.
Decades later, scientists contended he had died of aspergillosis after inhaling spores of the fungus aspergillus in the tomb, which can lie dormant for months. The fact several others who entered were also found dead withiin a short time led to the myth of the curse.
Lexus LX700h specs
Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor
Power: 464hp at 5,200rpm
Torque: 790Nm from 2,000-3,600rpm
Transmission: 10-speed auto
Fuel consumption: 11.7L/100km
On sale: Now
Price: From Dh590,000
More from Neighbourhood Watch
Sole survivors
- Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
- George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
- Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
- Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.
The National's picks
4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young
