In this edition, we celebrate the fact that August was Women’s Month, with a special focus on the increasingly important role that top women play in the world of high finance, as well as the growing importance of ordinary women in economies throughout the world in their role as the ‘minister of Finance’ of their household.

It was quite appropriate that on the eve of Women’s Month, the International Monetary Fund appointed its first female managing director in Christine Madeleine Odette Lagarde (55), former French minister of Finance.

As is clear from her profile, however, her gender played a minor role in her appointment. She has built up an impressive CV over the years and proved herself an astute negotiator – a skill that is greatly needed in the challenging times that global finance is facing at present.

And, as Zahn Coetzer reports, increasingly more women in top positions is a business issue, not a feminist one. Academic studies prove that gender diversity is good for business, with one study finding that companies in the top quartile of female representation on the board have 53% higher return on equity than companies in the bottom quartile.

From Heinrich Kruger, we learn that it is more often than not the female partner in the household who ensures sound financial advice is sought. It is virtually impossible for a household to be successful if the female partner does not support it.

As is clear from our report on the crisis in the international financial system, financial advisers would do well under these circumstances to get in touch with their ‘feminine side’; and with great circumspection carefully and jealously guard over the interests of their family of clients.

It is a time of great uncertainty as the world’s financial constellation is in search of a new equilibrium. All indications are that it will be some time before the present turmoil in international markets will settle down.

Those guarding over the wealth and future financial security of others should seek guidance from the past. Those who stick to the basics would do well – for themselves and their family.

Piet Coetzer