We are CIBC: Lisa Applegath's Story
For as long as I can remember, my purpose in life has been to empower women to do great things. I’ve worked hard to make headway in this area over the years and I’m thrilled to say that what started out as a solo mission has turned into a passion shared by many at CIBC.
I joined the wealth management industry in the 1980s, and women made up only 13% of advisors in full-service brokerage. I was really surprised because I knew how effective women could be in wealth management. We’re really intuitive with all of our clients’ goals and with more women clients than ever before, many want to work with advisors who understand them.
Still, four decades later, that statistic hasn’t really changed.
When I came to CIBC, I believed I could make a difference here. I joined CIBC’s Inclusion and Diversity Action Committee and the Women’s Network to make headway in two areas: creating a strong, supportive community for women and attracting young women to the field.
Three years ago, I proposed that Private Wealth create Mastermind groups with the purpose of connecting peers from across the Wealth platform to help create an inclusive and supportive culture for women’s voices. Our first meeting was just as COVID broke and everything went online. The timing could not have been better. The monthly calls became, and continue to be, a lifeline for many of us. Today, the group consists of over 250 women in 19 different geographic groups across the country and we’ve never been so connected. It’s also had an incredible impact on new women employees. When a woman is hired, the first thing we do is introduce her to a Mastermind group, so she instantly has community.
In addition to peer support, the Mastermind community has worked on two larger initiatives to move the needle for women. We’ve invested time in supporting women co-op students, inviting them to educational sessions, providing mentorship and helping them network. I’m thrilled to say that half of these students have returned to become full time employees. Last year, our group even came together to raise money for Run for the Cure as the “WONDER WOMEN OF WEALTH” and made the largest single donation by any single group - $550,000.
I feel confident and inspired by how much we’ve come together with the common purpose of one team supporting and empowering women.
