Awards Alumni – Margot Waddup

Margot is Managing Director, Real Estate Syndicated Finance for Wells Fargo and has worked in banking for over 30 years.

She is the longest serving member of the EMEA Women’s Connection Advisory Committee. She has advised the last eight co-chairs for Wells Fargo’s women’s network and has been instrumental to numerous DE&I initiatives within the bank. Wells Fargo is a diverse, equitable and inclusive employer thanks to Margot’s work and the work of those she has mentored.

Here’s what she had to tell us…

On diversity and equity…

After a 30 year plus career in finance my drivers of success have now definitely matured beyond just deal hunger.  Being part of a strong community, helping others to succeed, learning through taking new paths and making new connections are all equally important to me. Whilst I have been involved as an Advisor to our Women’s Connections employee resource network for some time, and feel a strong affinity to that group, in the last 3 years I have become much more involved with our Black Connections network and more recently our Asian Connections. Having visibility and engagement across these different networks’ activities and discussions has been invaluable for me and certainly helped to drive positive results for the firm. I have been able to encourage collaboration between the networks where there is intersectionality and been able to help ease any tensions around allocation of budget and resources amongst the various groups!

I think the biggest change over the last few years at Wells has been the engagement of the senior leadership of the Bank in Region on issues relating to diversity, equity and inclusion; with each member of the Executive Committee now encouraged and rewarded for actively participating in the work of the Networks to help create a more inclusive workplace. We have signed up for both the Race at Work Charter and the Women in Finance Charter in the last two years which is also helping to frame the work that is being done and provides accountability; measuring success and reporting results are a key part of these public commitments to diversity. The members of our Executive are expected to sponsor and advise our Networks, be involved in reverse mentoring schemes and generally be present and participate in the many and varied events the groups organise.

A most recent win for me was our CEO taking the time to join a celebration of International Women’s Day where I chaired a panel discussion around the theme of #EmbraceEquity. We worked with CREFC Europe and invited over 150 clients to our offices. John took the time to not only attend but he actively participated in the Q&A session and helped spread the message to our clients of how important embracing equity is to our culture at Wells Fargo.

On mentoring…

I realised what a significant impact I could have on a person’s confidence in making career choices and development path by just spending a small amount of time with them. The best part of being a mentor is when I see the mentees joy at success they achieve.

If anyone asked me about mentoring, I’d say, just do it!  Be natural and willing to share your failures as well as successes.  Sometimes just hearing senior people have also gone through trying times can be a real boost to a mentee going through a challenging situation

Interestingly I have never had a mentor myself.  I have had some great role models; Lisa McGeough, Co-Head of Global Banking Coverage at HSBC, was briefly my boss at Wells Fargo.  She has always inspired me to be brave and think about transferable skills in applying for roles and taking on new challenges.  Recently I have been discussing with my inner circle (aka my best girls – you know who you are!) that I think I would benefit from a mentor at this point in my career.  I am 52 and I think talking through my aspirations for the next stage of my career with someone who is not my direct manager would be invaluable.  I am on the look out!

I think having an external mentor, that is someone from outside of your own organisation is important, this gives a good perspective that is fresh from the corporate culture you are a part of on a daily basis.

My top tip for those thinking of finding a mentor is that you have to build a relationship of trust.  The first meeting is so important in terms of establishing a rapport and connection.  If it does not feel right be brave enough to say so and do not waste time.

On winning the WIBF mentor of the year award…

I was very proud to get this recognition.  The shortlist of nominees was full of such inspiring people who have helped so many; to be picked out as worthy of winning the Award was such a happy moment.  In addition, the senior leadership at Wells is obviously delighted to see one of its team win such a prestigious industry award.

Personally it has been lovely for my family and friends to get a glimpse of my professional life and hear about some of the things I am involved in doing to try and help other people progress in their careers.  Professionally I am now even more in demand as a mentor!  And I am not good at saying no – so I am busy!

Are you a WIBF award winner? Do you want to be part of our amazing Awards Alumni network? We’d love to be in touch, do drop us a line at [email protected].