Jinisha Patel, partner at Cadwalader, argues that this year's IWD theme – 'give to gain' – is not a slogan, but a performance strategy for big law

When I entered the legal industry and started working in the structured finance space, there were very few women in the rooms where decisions were being made. I observed early on that in order to navigate these environments, I had to do so persistently through excellent performance, thereby building trust and earning credibility one deal at a time. I would be judged on my merits and the rest would follow.

Proving myself with each client win and successful execution, I could get behind. But to do it quietly? I don’t think so.

It was clear letting the work speak for itself could only get me so far. I needed to learn how to champion my own successes if I was to get noticed and fight for the opportunities that had before seemed out of reach.

It instilled in me resilience and clarity of purpose, and above all, encouraged me to be the change I wanted to see. Realising I could be my authentic self and still get ahead has been my superpower. I know how much representation matters. A lone voice can easily go unnoticed.

It can be a major barrier for entry to this industry if young people don’t see and hear themselves represented. How many talented future lawyers and financiers do not consider the possibility of a future in this profession because they are made to think “this is not for people like me”?

I’m forever grateful for the role models and mentors I had to guide me through the course of my own career, who showed me what is possible, and helped me find my voice.

Now, as a partner at Cadwalader, I’m acutely aware of how rare my journey still is. I recognise that I didn’t get here on hard work alone. I got here because people recognised my work and helped me turn it into opportunity. That combination changed the trajectory of my career, and I’m determined to make those kinds of opportunities far more accessible for the women coming up behind me.

Representation matters

I’ve never believed in representation for the sake of it. It undermines the graft and craft so many women have fought hard to build. Instead, it's about being intentional about who gets staffed on complex deals, who is brought into client conversations and who is trusted to lead.

‘Give to Gain’, this year’s International Women’s Day theme, encapsulates what is needed right now. If we genuinely want merit-based progression, we must give women and other underrepresented groups the business-building opportunities that create it.

Deal exposure, client relationships and the commercial ‘currency’ all count at promotion time and without that, merit is a theory, not a pathway. True meritocracy does not appear out of thin air. It’s created when people are given the chance to prove themselves.

Culture starts at the top. I’m proud of myself and the brilliant partners around me at Cadwalader and exceptional external mentors who have shown me what is possible. However, inclusion should not fall solely on the women or people of minority backgrounds. When the responsibility sits only with the underrepresented groups, it becomes an extra, invisible tax on those already carrying more weight.

It’s encouraging to see young women forming their own networks across firms, even if these groups are born out of necessity. My philosophy has always been: if it doesn’t exist yet, then build it.

Community matters, but these networks alone can’t close the gaps. Progress happens when these initiatives are backed with both senior sponsorship and revenue-generating opportunities. That’s how inclusion can really help to shape careers.

Everyone has a role to play. When inclusion is shared, rather than delegated, the whole organisation benefits. Teams perform better and the culture becomes one where opportunity, not scarcity, abounds.

Improving access for all

Working across finance and law, so many of the decisions that are made and connections that are forged happen away from our desks. Ensuring that young women from different backgrounds feel that they can participate, will be listened to and overall have a voice, requires those in senior positions to ensure they know what is expected and are included.

Whenever hosting an event, we should ask: is this inclusive? Considering barriers and access for all should be front of mind.

Deals are shaped in informal networking opportunities. Trust is built over shared experiences. If women and minorities never get to be part of those interactions, they miss out on the organic networks that move careers forward. The business misses out too: on insights, on fresh thinking, on the kind of diverse relationships that strengthen client work.

For me, the IWD theme of ‘giving to gain’ is really about using whatever access I’ve had to widen the path for others. At Cadwalader through the London Women’s Network, I’m involved with The Girls in Finance programme. This exposes young girls from ethnic minorities to the world of finance and makes investment seem tangible through games and relatable stories. Creating safe spaces for girls from communities where financial independence isn’t emphasised is critical.

Women’s networks and International Women’s Day matter; they create momentum and community. That said, the real test is structural: who gets the business, who gets the credit, who gets promoted.

Give women the opportunity to build the numbers that count, and merit will take care of the rest. That’s how we ‘give to gain’. Not as a slogan, but as a performance strategy for big law.

When we expand who gets to participate, our market gets smarter, more resilient and better at pricing risk. That’s good for our firms, our clients and the quality of the decisions we make every day.

Biography
Jinisha Patel is a partner in the capital markets group in Cadwalader's London office. She focuses on structured finance and represents investment banks, asset managers and investors in a range of structured finance transactions, focusing primarily on CLOs and asset-based lending facilities.