Five years ago, Ivey launched a program to address a simple problem: not enough women in asset management. What no one fully anticipated was the community it would build along the way.
When the program was announced on International Women's Day in March 2022, the numbers told a clear story: just 14 per cent of global fund managers were women, and only six per cent of chief investment officers at the largest U.S. institutional money managers. The inaugural cohort of 33 Western University students, backed by eight corporate partners, set out to help change that.
Since its launch, WAM has expanded well beyond Western University, recruiting students from universities across Canada. This year, the program welcomed its largest and most geographically diverse cohort yet: 49 students from 11 universities, and now has approximately 175 alumni building careers across the industry.
That growth was on display at a fifth-anniversary reception on May 29 at Ivey's new Donald K. Johnson Centre in Toronto, where students, alumni, sponsors, and faculty leaders gathered to celebrate the milestone. The event also marked the latest cohort’s completion of the academic programming before beginning their summer internships.
From first steps to career momentum
For current participant Lilian Yang, a Western University mechanical engineering student with no formal finance background, the program has helped make the industry feel accessible. In just a few weeks, she and her cohort moved from learning core concepts to completing a valuation of Element Fleet Management and presenting it to the company’s vice-president of treasury and capital markets.
“They took me from zero to 100 basically,” she said. “I feel like I can finally step inside a room and understand what people are saying, which is incredibly cool.”
Yang said the all-female environment helped strengthen her confidence and sense of belonging in the industry.
“Being in an entirely female environment – going from engineering, which is mostly male, into this environment – has been an incredible journey,” she said. “We've heard from so many successful female professionals who have made it so far in the field, and it leaves me with that feeling of, ‘Yes, I can do it too.’”
Building forward
Taylor Skuta, HBA ’24, was part of WAM’s inaugural 2022 cohort and now works as an analyst at BMO Global Asset Management (GAM). She said many students in that first class joined with little understanding of asset management and took a chance on the program because they believed in its mission.
She said her decision to join the program shaped her career trajectory in ways she could not have anticipated. She credits the networking opportunities in particular with opening doors, including one event she nearly skipped because of a two-hour commute. Skuta decided to stay, made a connection at BMO GAM, and that relationship led to another internship and, eventually, to her full-time role.
Her advice to current students is simple: stay open and make the most of every interaction.
“You never know where that conversation is going to take you,” she said.
Skuta now serves as the alumni representative on WAM’s Advisory Council and chairs the newly formed WAM Alumni Council. The council was created to strengthen connections among WAM’s growing network of alumni.
Investing in the mission
Scotia Global Asset Management (SGAM) has been a benefactor sponsor of WAM since the program’s inception. For Director of Investment Team Talent Marilyn Croghan, the rationale is rooted in both talent development and industry need.
She said asset management benefits from diverse perspectives, and WAM helps build a stronger talent pipeline by providing students with exposure, mentorship, and industry opportunities early in their careers.
Croghan pointed to one example of impact: a WAM intern whose investment idea was presented to a senior portfolio manager and ultimately included in one of the firm’s mandates.
“To me, that is the ultimate level of success,” she said.
Croghan said Scotiabank also wanted its support of the program to help broaden participation, including for Indigenous students. She noted that this year’s cohort includes an Indigenous student, Erin Work from Queen’s University, joining SGAM for a summer internship.
Building a legacy through mentorship
Maia Becker, Senior Director of Responsible Investment at RBC Global Asset Management (GAM), said WAM students consistently stand out for their curiosity, adaptability, and willingness to learn.
“You must have that curiosity, that openness to trying new things, being wrong, exploring alternative perspectives,” she said. “That’s what every one of the students that’s been part of our team has brought.”
This year, RBC GAM is piloting a mentorship program inspired by former WAM intern Sahana Thangathurai, who wrote a letter of advice to future interns at the end of her term.
Becker said the firm has incorporated that idea into the pilot, naming it Sahana’s Note, to give interns a way to pass on advice and reinforce the sense that they, too, can leave a mark on the program. The initiative reflects Becker’s broader hope that WAM alumni will see themselves not only as beneficiaries of the program, but as contributors to its future.
Becker said one of the program’s greatest strengths is the network students build with one another, and she hopes those connections continue across cohorts throughout their careers.
“This is your cohort of future CEOs, CIOs, CFOs,” she said. “Don’t forget that.”
Courage over confidence
As she congratulated the graduating cohort at the event, Martha Maznevski, PhD ’94, Ivey’s Associate Dean of Programs, said there are still too few women in asset management and that the industry benefits from both a broader talent pool and a wider range of perspectives.
“Education is how we accelerate this change, and so a program like this is absolutely vital,” she said.
She closed with advice she originally shared with the cohort at the beginning of the program, urging students not to wait until they felt fully confident before stepping forward.
“Courage is more important than confidence,” she said. “If you don’t feel confident, don’t worry about it. Be courageous and get your courage from the people around you.”
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