From Trading Floors to Empowering Future Female Leaders – Interview With Jacqueline Frost

Jacqueline has over 30 years of experience in investment banking and entrepreneurship, starting on the trading floor and eventually leading the Derivative Sales Group. She also served on the Executive Committee during her banking career. In 2009, she began coaching senior female executives, recognising that if these talented women had gained access to critical skills earlier in their careers, it would have strengthened their leadership and impact.

In 2016, driven by a desire to reach more women across industries and geographies, Jacqueline launched Elevate, a global virtual leadership programme. Now, after eight years, Elevate has empowered over 10,000 women from 50+ countries, equipping them with the skills to become influential leaders.

Jacqueline Frost, CEO & Founder at Elevate Talent

Can you tell us about your background and experience working in the male-dominated world of investment banking?

My career began in investment banking, where I was one of very few women on the trading floor. In the '90s and early 2000s, there was virtually no discussion about diversity, let alone gender diversity, across most industries. So, I hadn’t given much thought to my position as one of the only women in that environment. However, as I rose to lead a desk and joined the Executive Committee, a colleague eventually pointed it out to me. That got me wondering: how had I managed to persevere and rise in such a male-dominated space? My answer then is still my answer now - I always saw being female as an advantage.

That’s an intriguing perspective. What led you to step away from banking?

I didn’t plan to leave banking. I took a break because I’d become disillusioned with the bank I was at. It was a bit of a “Wizard of Oz” moment - I saw behind the curtain and realised the institution was driven solely by profits, often at any cost. So, I decided to take time out and build our house. The financial crisis of 2008 coincided with the end of the build, making a return to banking difficult. The bank I’d left was Lehman Brothers, and seeing it collapse was difficult, knowing how many talented and dedicated people I’d worked alongside there.

How did you transition from banking to coaching and mentoring women?

It was a bit serendipitous. A friend invited me to a coaching course in Oxfordshire, and while she didn’t enjoy it, I absolutely loved it. While there, Gerard Donovan, the company’s CEO, gave me some valuable advice. Since I’d “walked the walk” in my career, he encouraged me to start mentoring and coaching senior women.

What was that experience like, coaching senior women?

Eye-opening, to say the least. Every woman I worked with was smart, educated, and highly capable. Yet, in our coaching calls, they often expressed feelings of doubt, frustration, and even anger. It felt like Groundhog Day - I was hearing the same obstacles, challenges, and frustrations over and over. As I shared my own strategies, I kept hearing, “I wish I had known this sooner,” or “How did I not know this?” That’s when I realised we needed to reach more women - and quickly.

Was that the inspiration behind creating Elevate?

Absolutely. I started by offering leadership workshops for senior women and eventually launched an online platform to make it accessible globally. This was back in 2011, so online learning wasn’t as widely embraced as it is today. But over time, it became clear that if we wanted better representation of women in leadership, we needed to build a larger talent pipeline, reaching women earlier in their careers.

Tell us more about Elevate. What makes it different from other leadership programmes?

Elevate isn’t a “women’s programme” - it’s a leadership programme for future female leaders. Eric Way, Global Head of Inclusion and Diversity at Schindler Group, described it best when he said Elevate provides a safe space for learning where women find themselves in the majority, unlike their typical work environments. That shift in dynamics is powerful. We also address career development topics where women statistically receive less support and guidance. By equipping women earlier with these tools they recognise their strengths, make an impact, and realise their potential.

What specific challenges does Elevate address?

Thanks to feedback from our graduates, we hear exactly what their challenges are and build content around these insights. It’s about addressing real-world issues that impact careers and personal development. Often, what we read elsewhere about where women "go wrong" is not what we see. One critical piece of feedback we have heard over the years is that for men, the leadership path is well-established with clear models to follow. For women, however, the route is less defined and still evolving, with fewer frameworks to guide them. So, we provide that blueprint, and our results speak for themselves. At the start of the last three Elevate cohorts, 13-17% of women were ranked in the top categories of “Star” or “Strong,” but by the end, those percentages rose to between 43-49%. If half of the female talent pipeline were rated as top talent, imagine the impact that would have on an organisation.

How has Elevate evolved over the years?

Elevate has been a dynamic, continuously evolving programme from the beginning. We never repeat a session. The world is constantly changing, so we make sure we’re addressing the needs participants have today, not those from 12 or 18 months ago.

What’s your ultimate vision for Elevate?

Our goal is to make it easier for women to reach their full potential and create leadership pathways that might otherwise be obstructed. Without actively supporting the next generation of female leaders, we risk limiting diversity in leadership roles. But that’s only part of the picture. We also need to equip the next wave of leaders with the skills to navigate and thrive in the 21st century, regardless of gender. That’s why, next year, we’re launching DIAL, a programme that fuses the strengths of traditional leadership with modern strategies to address today’s unique challenges - preparing leaders people are inspired to work for, work with, and aspire to become.

Follow me on LinkedIn, and visit my website for more info!

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