Four top women in banking, but it's still a man's world
It's a sad fact that it's still more difficult for women to rise up the ranks in financial services than it is for men. Add the traditionally male-dominated world of the Middle East into the mix and it becomes even harder to smash through the glass ceiling. However, it's not impossible.
Financial News compiles an annual list of the 100 most influential women in finance, and opened it up to the Middle East for the first time this year. Four made the cut:
Haliza Abd Rahim, head project management, BMB Islamic UK: Having spend time working in London for Deutsche Bank backed Dar al Istithmar, she moved to BMB in 2006 and now leads a team that oversees $10bn of assets for some the Middle East's wealthiest families.
Maha Al-Ghunaim, chairman, Global Investment House: Global's problems this year are no secret - it defaulted on a large chunk of its 3bn debt obligations in January - but Al-Ghunaim remains an influential figure and is planning to revamp the firm to focus on investment banking, asset management and brokerage.
Soha Nashaat, head of Middle East, North Africa & Turkey, Barclays Wealth: Nashaat moved to Barclays Wealth's to head up its regional hub in Dubai in 2006, and has been building the operation ever since. It's been a particularly active recruiter in the GCC's wealth management sector this year.
Nahed Taher, chief executive Gulf One Investment Bank: Taher co-founded Gulf One in 2005, making her the first woman to head a bank in Saudi Arabia.
While these are all admirable achievements, it still remains difficult for women in the Middle Eastern financial sector to secure a senior position.
Both Al-Ghunaim and Taher set up their own operations, as was the case for other women in senior posts - such as Fatima Al Jaber, CEO of asset manager Al Jaber Holdings.
A good example of a more progressive attitude is Forsa - an investment manager set up by Dubai World in 2007 to cater for the growing pool of female wealth in the GCC. Its investment team is entirely comprised of women.
But one headhunter says it's still an uphill struggle: "Banks are keen to have a certain quota of women, but often can't find sufficient numbers in the GCC," she says. "Often they'll extend the search western markets or to areas like Pakistan."
