Every year on 8 March, the world celebrates the achievements of women across the world as we mark International Women’s Day. This year The TRADE wanted to pay special attention to the women working across our capital markets.
Eden Simmer, head of global equity trading at PIMCO, Laura-Jayne Carlyle, senior fixed income trader at BlackRock, and Gozde Yildiz, fixed income trader at UBS Asset Management, share their market outlooks, reflect on their career paths, and discuss the opportunities and challenges shaping the industry’s future, highlighting the contribution of women across the sector.
Paramount was unpacking the key messages from the industry that young women considering a career in capital markets should hear.
Eden Simmer
Diversity as an opportunity, rather than a hurdle
In March 2016, the UK Government launched the HM Treasury Women in Finance Charter, with the aim of building a greater sense of equality and gender balance in senior management across capital markets. Since then, various annual reviews have taken place, with progress revealing that average female representation in senior management in this sector increased from 35% in 2023 to 36% in 2024.
In addition, the report indicated that a one percentage point increase has been an annual standard since the launch of the charter, meaning that if this uptick continues, female presence in these senior roles should reach parity by 2038.
Building on this, finding pathways to the trading floor can be difficult for all those looking to stake their claim in the industry. However, as Yildiz highlights, diversity and an open mindset are key to building a successful career in capital markets.
“One persistent misconception is that trading success depends on personality stereotypes rather than professional discipline. In reality, the most effective traders tend to be measured, analytical, and process driven,” says Yildiz.
“The most damaging assumption is that anyone must conform to a predefined mould to succeed. Markets are complex adaptive systems, and they consistently reward diversity of perspective far more than uniformity of style.”
Similar sentiment was also echoed by Carlyle, who asserts that being one of the only women in your department, or on the trading floor, actually offers an advantage by providing diversity and a broad range of talent to the industry.
Commenting on this, she explains: “If markets capture your interest, let that curiosity guide you. Early in my career, as one of the only women on the trading floor, I quickly realised that being different could be an advantage. The strongest contributions I’ve seen come from people willing to think differently and challenge assumptions thoughtfully.
“Diverse perspectives, including female perspectives, offer insights that strengthen decision-making and enrich market outcomes. Markets don’t require a single personality type or background.”
In this context, AI emerges as a unique opportunity to help level the playing field.
AI as an opportunity to equalise
Artificial Intelligence is continuing making to make a significant impact across the entirety of capital markets. Within trading specifically, the rise of the technology presents both opportunities and concerns, ranging from the ability to make workflows and desks more efficient, and ultimately more successful, to fears around losing that vital human touch.
These discussions appear to be a dominating force in the industry at the moment – often front of mind at conferences and other industry discussions – however, there is a further key benefit presented by AI, which does not appear to be as commonly discussed.
Tying into the possibility of advancing workflows and speeding up processes, Simmer highlighted that the advent and advancement of AI will act in favour of the women working in trading and capital markets.
Simmer explains: “I see AI as such a great equaliser for women. What are we often tasked with? The invisible work. If we’re able to move higher and higher up that hierarchy of Bloom’s taxonomy, away from the transactional, away from the analysing, and up to evaluate and create, that’s where the value-add is.
“That’s where the big strategic decisions are, where the senior roles are, where the meaningful projects live. I know there’s going to be displacement and disruption with AI, but I also think it’s going to be a force for good in many different ways.”
Laura-Jayne Carlyle
Of course, AI presents many opportunities for all participants across the entire trading ecosystem, and becoming AI-literate is quickly becoming a vital skill for those looking to gain the most benefits from an industry where this technology is no longer an if, but an integral cog.
When questioned on the skills and traits that have mattered most over the course of her career, Carlyle highlights the importance of mindset, over individual capabilities.
“What’s mattered most in my trading career isn’t a single skill, it’s a mindset. Staying curious about markets, liquidity, and technology has kept me ahead as fixed income trading evolves. Emotional resilience is crucial: being comfortable with uncertainty, detaching from short-term noise, and learning from mistakes.”
Building on the importance of not being afraid to adapt to and work with AI, she adds: “Today, understanding how AI, automation, and new market structures reshape execution is essential. Translating complex data into actionable insight for portfolio managers, while staying disciplined and adaptable, defines success in the modern fixed income world. The best trades often come from listening, observing, and thinking several steps ahead.”
The importance of visibility
Despite the HM Treasury Women in Finance Charter indicating that the financial services sector may be on its way to parity in terms of having women in senior leadership positions, there is still much to be done. Notably, according to new data from law firm Fox & Partners, women only represent 15.3% of partners in hedge funds, private equity and other financial services in the UK.
Specifically, these numbers constitute 794 women in these roles, in comparison to 4,411 male partners.
As many who work across the industry will be aware, conferences and events are an intrinsic part of the markets, bringing together experts and participants from all corners of the industry, to network and share insights.
Simmer, Carlyle and Yildiz are all frequent participants on panels at these conferences, discussing important industry topics and collaborating with peers to produce fruitful reflections.
For Simmer, the importance of being visible in the industry, whether through panel discussions, online engagement or elsewhere, cannot be underestimated: “When you don’t see something, when you can’t imagine it, it’s hard to envision yourself in those roles. Sometimes it’s not even about having something important to say. Maybe the physical manifestation of me sitting there is enough to trigger someone to think – “this is how it should be”.
“Your brain is trained by visuals to define what success looks like, and historically that image hasn’t always included someone like me. So showing up matters.”
Behind every great woman, is another great woman
When it comes to making waves on the trading floor, or simply just finding your place in the industry, the importance of having a senior female figure to look up to was commonly reiterated as a vital pillar to lean on when shaping a career in capital markets.
As one of the only women on the trading floor when she started out, Carlyle asserts that the support and guidance provided from female mentors cannot be underestimated.
“I’ve been fortunate to have female mentors whose guidance and example helped me navigate challenges with greater confidence. Mentorship isn’t always formal, sometimes it’s a quiet conversation after a difficult day, or simply observing calm, decisive leadership under pressure. Those moments shape you.”
A similar sentiment is shared by Yildiz, who highlights that to achieve success in financial markets, a willingness to learn and continuously be open to feedback is a critical skill all traders should keep in their toolkit.
“Mentors provide perspective, strategic guidance, and practical insight that accelerate development and strengthen decision-making. Seeing women excel in senior roles reinforces a powerful principle: progression in this industry is driven by capability, integrity, and contribution,” comments Yildiz.
Gozde Yildiz
“Approach your role with preparation, professionalism, and confidence in your work ethic. Be intellectually engaged, open to feedback, and supportive of your team. Thriving in markets is not about competing for attention; it is about continuously refining your understanding, contributing thoughtfully, and building credibility through consistent performance.”
However, the value of learning from your peers and cohort should also not be underestimated. As previously discussed, conferences and industry events are great places to refine your skills, however valuable support can also be derived from the trading floor.
As Simmer adds” “Mentorship is valuable, but sponsorship is where the true leverage lies. The relationship works when you’re thinking about how you can contribute, how you can take something off their plate, how you can uplift them as they uplift you.
“Some of the richest lessons I’ve had didn’t just come from supportive mentors and sponsors, but from moments that made me think, “I don’t want to lead like that”. Paying attention to those feelings, to the metacognition of what’s happening, is incredibly powerful.”
In addition, while mentorship and sponsorship provide leverage at an individual level, networks can create momentum collectively.
As Carlyle observes: “Women’s networks have helped me build trusted relationships and collaboration opportunities that genuinely support career progression. Through them, I’ve gained industry insight from outside my immediate environment, access to external mentors, and the encouragement that comes from visible representation.
“They’ve also created space for shared experiences, whether navigating leadership or balancing motherhood, which builds perspective, solidarity and confidence in equal measure.”
Looking ahead
Modernisation and innovation are at the fore of capital markets, and it appears that these developments are only going to continue in the coming years. Looking ahead, Carlyle, Yildiz and Simmer all shared key messages for young women considering capital markets, highlighting the importance of curiosity and diversity.
“My message to young women is to trust your intellectual instincts, stay curious, and recognise that markets ultimately reward preparation, discipline, and clarity of thought,” says Yildiz.
“Capital markets are one of the most intellectually rewarding environments to build a career because they combine analytical rigour, real-time decision-making, and global perspective. If you enjoy understanding how macroeconomics, policy, and human behaviour translate into market outcomes, this industry offers a uniquely stimulating platform.”
This was also echoed by Carlyle, who emphasised the importance of mindset when shaping a career in this industry: “What’s mattered most in my trading career isn’t a single skill, it’s a mindset. Staying curious about markets, liquidity, and technology has kept me ahead as fixed income trading evolves. Emotional resilience is crucial: being comfortable with uncertainty, detaching from short-term noise, and learning from mistakes.”
Ultimately, on International Women’s Day, the story isn’t just about the barriers women have broken, but also the futures they’re building.
As Simmer reflects: “We’re moving from a task-driven society to a purpose-driven society. And there is purpose in investing, there is purpose in finance. Women search for meaning, and wealth may not create meaning, but it creates freedom. And freedom allows you to seek out the life you want to build.
“As everyone writes their own story, remember others are writing theirs too. The barriers are getting lower every day. There is space at the table and increasingly, we’re building new tables altogether.”