Isabela Castro, Head of Legal at Puma Property Finance

I was asked if I’d be willing to share my experience as a female leader in the Puma business. I have been with the company since 2019 and I am Head of Legal of the Puma Property Finance division. I was particularly keen to discuss my perspective on this as matters of diversity are very close to my heart. I strongly believe that diverse companies are generally more successful and better in many different ways – from financial performance to employee experience.

I admit I’ve generally been sceptical of the speed of progress towards gender equality. It’s undeniable that women continue to be underrepresented in positions of power in this country and almost all (if not all) countries in the world. In my own profession – law – I understand that we have had gender equality at entry level for many decades. However, at major law firms women consistently represent less than 30% of partners. The Financial Times published in October 2023 that “women account for more than 60 per cent of solicitors in England and Wales but only about one-third of partners in law firms, according to the Solicitors Regulation Authority, a figure that has barely budged in five years”. In the wider business world, less than 30% of executive committee members in FTSE companies were women in 2022. That’s just one of a multitude of figures I could include here – there is plenty of data showing that women are still the minority at the top. In short, the numbers point to a lack of opportunities and access for women to reach leadership positions.

It's clear that the challenge is still immense. Progress has been far too slow. And yet, working in this business gives me hope that, in the right environments, we are indeed making significant progress. When I joined Puma, the company had already been focused on gender diversity issues for a number of years. However, there has been a huge leap internally in the last few years. 

Reflecting on my personal experience at Puma, I believe I get the same opportunities as my male counterparts in the company. I don’t feel disadvantaged by my gender in any way in this business. I appreciate this response may feel a little underwhelming. And yet being able to say this feels nothing short of groundbreaking for me, a statement that I thought I’d never be able to make during my career.

One hugely inspiring lesson for me has been to see the difference that can be made by a strong senior leadership team which is committed to genuinely challenging the status quo. Of course, this takes courage, tenacity and also, crucially, having senior individuals who are receptive to and willing to push through transformation. Organisations are generally slow to adjust. It’s heartening to see that it can actually happen.

I am a firm supporter of measuring improvements by deeds rather than words. Our numbers now tell the story. Puma Capital Group has currently got a nearly even gender split in employees (currently 54% / 46% female). Importantly, that percentage carries across to management – 45% of all of our managers are female. We have 11 women heading up departments across 14 divisions. It’s not an easy feat to move from the stage of believing and planning into actual execution and achieving positive results.

I believe that the progress we have made is a product of a number of factors. First and foremost, the company has been open to recognising its limitations and accepting change. Secondly, we have created an environment where female talent is recognised and nurtured, which is of paramount importance. Sometimes that takes a leap of faith in being open to giving people from a different background the chance to thrive. Thirdly, we are actively and constantly encouraged to engage in these difficult conversations. We are open about the ongoing challenges and continuous need to strive for more. It also means accepting that change may sometimes make some people uncomfortable, but we need to drive ahead if we believe in the cause. Last (but certainly not least), we have the benefit of a phenomenal female leader – our Chief People Officer Tarinee Pandey – who has personally spearheaded the cause and was instrumental in achieving these results.

Undeniably, there is more to be done. The argument that internal challenges are a reflection of the wider industries that we operate in will only take us so far if we want to achieve results. And yet, I am hugely positive about the future. I have seen that when companies recognise their shortcomings and dedicate enough energy and time to a cause, things can and do change. I have confidence that with the right champions, support and corporate will, we’ll continue to make great leaps in this difficult, rewarding and vital journey.