Women in Capital Markets (WCM), a prominent advocate for gender equity in finance, has rebranded as VersaFi to reflect its expanded mission.
The organization announced this change to align with the evolving diversity and complexity within the finance sector and its commitment to supporting women in various financial disciplines.
“We’re deeply proud of our roots in Capital Markets, but we recognize that the finance sector has evolved: it’s more dynamic and diverse, as are the women in it,” said Tanya van Biesen, president and CEO of VersaFi. “With our new identity, we are committed to a growth strategy that will allow us to expand our efforts to support and advocate for women in finance from all backgrounds.”
This rebranding comes during challenging times for women in finance. Despite their growing numbers, women remain underrepresented in leadership roles. In 2021, women made up 47% of the workforce in the Canadian financial services industry but held only 21% of board seats, 19% of C-suite roles, and 5% of CEO positions. Women of color fared worse, representing only 4% of C-suite roles in North America’s financial services sector in the same year.
“The finance sector in Canada is among our most important economic drivers, yet women are worryingly underrepresented, especially at the mid and senior levels,” added van Biesen. “Progress has stalled, talented women are leaving, and equity initiatives are under attack. It’s vital that our talented women are able to thrive and advance at all levels.”
VersaFi, Canada’s largest network of women in finance, is dedicated to providing a platform for networking, mentorship, and development opportunities for its community of over 4,000 members. The organization plans to enhance its advocacy and community-building efforts under the new brand by:
- Fostering a pipeline of talented women in the sector at all career levels.
- Expanding efforts to bring together women in finance with shared experiences and career goals to provide opportunities for education and networking.
- Working with the industry to address barriers, share best practices, and implement policies to advance gender equity.
“Much of this important work is already underway, and we will continue to advance these efforts, amplifying successes and learnings as we move forward,” van Biesen said. “Look for VersaFi to play an even bigger role in leading the gender equity conversation in the finance sector in the years to come.”
The new brand includes a fresh visual identity, a dynamic website, and a new tagline, “Accelerating equity for women in finance,” aligning with VersaFi’s vision, mission, and value proposition for its members and corporate partners. The updated website will serve as a hub for resources, events, and opportunities tailored to the needs of VersaFi’s members.
“Our rebranding to VersaFi represents a significant milestone in our journey to accelerate gender diversity in the finance sector,” van Biesen stated. “We know that systemic barriers continue to exist for women, particularly for women of color and gender-diverse professionals. We need to double down on efforts to help overcome these challenges, or we will leave valuable talent on the table and risk being left behind.”