Access: Meet Level 20's powerhouse CEO
“People don’t leave firms; they leave people.” - Pam Jackson
Hello reader,
Welcome to Access, the weekly newsletter from Hertalis. Founded by Liz & Melissa, each week we compile the best interviews with interesting people - a mix of those you know, and those you will want to know.
This is the 3rd edition of Access - the most clicked link from last week’s newsletter was this New York Times piece on Roger Federer.
This week it is a privilege and a pleasure to share with you our In-Depth feature on Pam Jackson, the outgoing CEO at Level 20.
We hope you enjoy reading, let us know what you think -
Liz & Melissa
In case you missed it…
Last week’s newsletter included interviews with Saoirse Ronan, Daniel Bernhardt and Roger Federer.
Our In-Depth section featured Robert and Hilary Rowland, the powerhouse couple behind one of the UK’s leading fitness brands.
FEATURING:
This week’s best interviews
On set with the cast of Wakanda Forever
Julianne Nicholson stars in the Netflix biopic ‘Blonde’
Jennifer Lawrence gets political
In-depth: Level 20’s CEO Pam Jackson is stepping down, but leaves some big shoes to fill.
IN BRIEF
“I was at a point when I was like, 'I'm walking away from this business.’”
Behind the scenes with Ryan Coogler and the cast of the year’s most anticipated superhero sequel
[Grief and joy: Wakanda Forever]
***
“I feel like I need to discourage people in my family from watching Blonde”
The ‘Mare of Easttown’ Emmy-winner is fierce and terrifying as Marilyn Monroe’s mother in the Netflix biopic ‘Blonde’.
[Julianne Nicholson is perpetually underrated]
***
“You have to be political. It’s too dire. Politics are killing people.”
Jennifer Lawrence talks Motherhood, Causeway, the persistent gender pay gap and the end of Roe v. Wade.
[Lawrence has no patience for the politically unengaged]
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IN-DEPTH
“Representation at senior levels for women in investment roles remains stubbornly low”
Level 20, the not-for-profit organisation dedicated to improving gender diversity in private equity, is on the hunt for a new CEO. Chief Executive Pam Jackson is approaching the end of her tenure after three years in the role.
Starting at Thornton Baker in 1977 and qualifying as a Chartered Accountant and a Chartered Tax Advisor, Pam joined, what is now PwC, in 1983, for 36 years (29 as a partner), and as well as running the PwC Deals business in the Middle East, has remained at the forefront of the diversity conversation, having set up PwC Female Partners and Directors network in 2001.
About Level 20
Launched by 12 founders in 2015, Level 20 has over 4,000 members across Europe. Founded with the aim of improving gender diversity in the private equity industry, their goal is for women to hold at least 20% of senior positions in private equity. The 2021 annual research report is available on their website.
“We think that one of the reasons [for gender imbalance] is that men tend to have stronger networks in the industry. They know what the process is and inform each other. Many women are going into it cold.”
On ambition
“I went to an all-girls convent school, where the ambition for women was either to be a teacher or a nurse, up until the time you had children. But I was a bit of a rebel.”
On degree bias
“For 30 years, the major firms didn’t accept non-graduates. But now, thankfully we’ve come full circle and it’s changed again.”
Being a women in a male-dominated industry
At the firm now known as Grant Thornton - “I was the first female trainee they had ever taken – I was regularly confused for the secretary or the coffee maker.”
On gender imbalance in private equity
“[Private equity] firms are still broadly led by white males — from a certain background, probably from an investment banking background.”
On the Level 20 survey results
“When we did this survey back in 2018, there were only 6% senior investment roles held by women. So, an increase from 6% to 10% is a massive shift. Given that PE is a tenured profession and it takes a long time for people to come into the bottom and move their way to the top. So, it has evolved. However, it’s still stubbornly low.”
On empathy
“And, you know, with the pandemic, we now have this ability — we have got to know people as human beings, not as just work colleagues. We’ve had a window into their lives: the career couples, the homeschooling, the eldercare, all of those issues. And I think now we can continue with that and then show that we understand people as humans, not just as work colleagues.”
Celebrating difference
“If you’ve always been in the majority in a room, you’ve never thought about how anybody else feels. And when, at Level 20, we bring some men into the discussion — and there are 5 men and 60 women — I always say to them, “How does this feel?” And they say, “Well, you know, it’s a bit uncomfortable.” And I say, “Well, this is how we feel every day of our lives. Just reflect on that, because [we] are in a minority in virtually everything [we] do.”
On diversity
“[Diversity] isn’t a problem for diverse groups to solve; it’s a problem for the collective to solve.”
Sources
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