Clearer progression routes needed to drive diversity in specialist finance

B&C spoke with female specialist finance professionals to gain their perspective on how the bridging industry can be more inclusive.

‘Male-dominated’ and intimidating

When asked what the most significant barriers were to entering the industry, most of the respondents agreed that career prospects within specialist finance could often feel intimidating.

According to Laura Toke, key relationship director at broker SPF Short Term Finance, the bridging industry was often perceived as a “fast-paced, high-pressure and male-dominated environment”.

Katy Katani, lending director at CapitalRise, said that in her experience women remained “significantly less likely than men to be promoted into equivalent roles”, with their contributions too often going unrecognised.

Adding to this, Caroline Luxmore, chief commercial officer at Recognise Bank, explained that the industry “over-focuses on the front-line” and lacked essential flexibility in business development or underwriting roles which required “constant availability”.

Another respondent, Leanne Ardron, managing director of short-term lending at LendInvest, found that women seeking to enter the industry were discouraged from applying for roles they had the necessary skills and experience for as they didn’t feel “100% qualified”.

Uliana Kuzmis, chief credit officer at Pallas Capital, outlined lack of confidence, visible role models, and cultural issues as the main blockers of women’s professional progression. She highlighted that “aggressive or outdated management styles disproportionately deter women” and that “balanced, psychologically safe leadership environments” were better for all staff regardless of gender.

Courtney Laskey, marketing manager at Glenhawk, noted that while the industry had made “meaningful progress year-on-year”, specialist finance could seem niche or relationship-driven, which may discourage those without established networks from seeing it as accessible.

‘Give to Gain’ in action

The theme of this year’s IWD emphasises the efforts of organisations in creating opportunities and support for women, especially through education, mentorship or advocacy.

Davina Patel, marketing manager at Avamore Capital, explained that the lender is prioritising advocacy by committing to “increasing the visibility of female leaders through industry media”.

To counteract the lack of confidence, Gaynor Duran, head of people at Roma Finance, said that Roma actively encourages women to “apply for promotions, even if they meet most — but not all — of the criteria”.

At Glenhawk, IWD will be celebrated with a women’s lunch and an internal panel session where colleagues share presentations on their career journeys. Courtney said the aim was to “create space for authentic conversations about career development, while also giving colleagues greater visibility of the diverse [career] paths”.

Tanya Elmaz, managing director of intermediary sales at Together, shared that the lender hosted Women in Finance (WIF) events for brokers, with this year’s WIF programme focusing on mentoring and adopting a new format to “connect emerging talent with established leaders”.

Pallas Capital’s Uliana has focused on “practical, embedded development” rather than formal inclusion programmes. She explained that in a previous company she recruited a junior team member without direct experience and supported her development into a “materially more valuable contributor [who] successfully advocated for her own salary uplift — confidently articulating her impact and value”.

This perspective was shared by Mint managing director Irene Thomas who is a proponent of “regular conversations, taking a genuine interest in people and helping them focus on their ambitions” over formal programmes.

Pathways to success

Most respondents agreed that clear professional progression was key to promoting diversity in the industry.

Somo’s 12-month Sales Training Academy, launched in 2021, was cited as having supported the progression of several staff members through to senior roles. Jade Keval, sales director at Somo, said that the lender operates an “open-door mentorship policy” with senior leaders making themselves available to discuss deals or give feedback. Similarly, LendInvest’s Early Careers Programme and internal professional development structures have championed the careers of female staff members, some of whom began as office managers and are now portfolio managers and BDMs.

Alex Upton, managing director of specialist mortgages and bridging finance at Hampshire Trust Bank, said that within her divisions a clear pathway had been mapped from business development executive to BDM and regional account director. She added that this structure had led to “sustained internal mobility and more colleagues, including women, progressing into senior commercial roles with confidence because expectations are clear and performance is visible”.

Early careers

Earlier outreach in schools, colleges and universities was also referenced by many industry professionals as a key focus area. SPF Short Term Finance’s Laura argued that raising awareness of the industry as a “viable and exciting career option” should be a priority to foster a diverse workforce.

Recognise’s CCO Caroline stated that platforming women who had navigated challenges, and explicitly explaining how they had done so, would remove some mystery surrounding the progression of women in the specialist finance industry. She also added that initiatives such as IWD should not just be about women supporting women, but also about male colleagues “actively sponsoring and advocating women in revenue-driving and decision-making roles”.

Together’s Tanya advised fellow female industry professionals to “focus on visibility, make decisions with confidence, be clear on your career goals, and actively position yourself for them”.

She urged women not to underestimate the power of networking, highlighting that “sponsorship and relationship building are vital for progression, and no, you don’t need to take up golf; a simple coffee chat can be just as effective!”