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Speakers at the British Private Equity and Venture Capital Association’s inaugural Women in Private Equity Forum have come out largely against hiring quotas as a solution to the lack of women working in the industry.
Panellists including Zeina Bain, a director in leveraged buyouts at the Carlyle Group, and guest speaker Laura Tenison, founder of Jojo Maman Bebe, spoke out against the use of quotas following a European Commission proposal to impose mandatory quotas and a report by Lord Davies in which he called for more female board representation at FTSE 100 companies.
Bain said: “I am against quotas. It is hard enough to be taken seriously as a woman. You put yourself out there when you are working on a deal. If there are quotas in place, [people might say] does she know what she is talking about? Why is she here?”
Tenison said in a speech about her experience as an entrepreneur that she disagreed with quotas, noting that she believed that the hiring process should be dependent solely on achievements and merit. “It just so happens that all the directors [on Jojo Maman Bebe’s board], apart from one, are women, and that is because they are right for the job."
In a straw poll of about 80 attendees, only a handful agreed with the use of quotas.