Career Confessions: The 26-year-old founder who is determined to close the gender gap in finance 

Urvi Guglani was just 14 years old when she developed an innovative app to tackle food waste, achieving an impressive 500 downloads. Now, she’s balancing her responsibilities as part of the growth and strategy team for her family’s firm, Silverdale Capital, with her passion for empowering women through the Female Bond Fellowship (FBF), which she founded three years ago. 

“I grew up in a family with working parents,” Urvi shares, “and that meant we bought a lot of groceries in bulk. We sometimes forgot about things in the fridge, and they’d go to waste before we could consume them.”

This common household challenge sparked an idea for Urvi. “The cheese I indulged myself in was pretty expensive, about $20 to $22. And I forgot to eat it before it started getting mouldy. That made me realise how much food – and money – we were wasting.”

Discovering a startling statistic from the National Environmental Agency – “About 60 per cent of all food wastage in Singapore happens because it expires before consumption” – further fuelled her determination to create and code the app herself. The app sets an alarm on the user’s phone to alert them before the food expires.  

The experience sparked Urvi’s entrepreneurial spirit and fuelled her ambitions. She pursued her studies in computer science in UC Berkeley in California and landed coveted positions in fixed income at BlackRock and Pimco, two notoriously competitive firms. There, she realised she was often the only woman in the room, whether at work or industry events.

This lack of representation is stark: only eight per cent of professionals in the fixed-income space are women, a number significantly lower than in other areas of finance. For instance, 45 per cent of chartered and certified accountants are women. Fixed income, which essentially refers to bonds issued by governments and corporations, tends to have a higher barrier to entry but offers lower risk than some other investment vehicles.

This inspired Urvi to set up the Female Bond Fellowship (FBF) in 2021. This initiative provides mentorship in the fixed-income industry and investment workshops specifically designed for women.

Most recently, Urvi was a finalist for the Women of the Future Awards for Southeast Asia in the Business Category.

Why is female representation so low in the fixed income space?

Urvi Guglani (UG): There are cultural and structural barriers. Structurally, there’s low turnover; top investment professionals stay in their roles for a long time, creating fewer openings for new talent, especially women. Hiring practices often favour similar profiles, perpetuating a male-dominated environment. My manager always said investing is a lifestyle, not a job. You have to constantly be on top of market movements, which can be demanding.

You’ve worked in both Asia and the West. Have you observed differences in gender bias?

UG: Surprisingly, the statistics are better in Asia. I interact with far more female traders here. Thailand, for example, has more female traders than male traders. But even in Asia, we haven’t achieved a good balance in fund management. This is concerning, especially given that studies show funds run by women generate twice as high returns as the average hedge fund. We need more women in the pipeline, and that’s what the Female Bond Fellowship aims to achieve.

What inspired you to set up the Female Bond Fellowship (FBF)?

UG: Seeing [my female] friends leave the industry because they felt isolated was a key motivator. Early in our careers is when we make crucial decisions. I love fixed income – its quantitative nature, the market size, the opportunities. Seeing talented women leave because of gender issues made me want to act. I wanted to create a global community, provide mentorship and education, and offer the support I was fortunate to receive.

What does FBF do?

UG: FBF has two parts. First, a twice-a-year, 10-week fellowship with mentorship, speaker series, and education. Executives from firms like Citadel, Millennium, and Fidelity volunteer their time to guide fellows. 

Second, year-long education through various channels like Substack, Instagram, LinkedIn, and seminars to educate about investments. We recently held a seminar with Philip Capital on financial planning, which had a great turnout. 

FBF started informally, connecting peers and providing education. It grew because I realised the need for investment education among women was a global issue, not just a company-specific one. We needed a cross-border solution, and now we have a 4,000-person community.

Why is it important to have women in the fixed income industry?

UG: Fixed income is poised to thrive in the next decade. Interest rates are back, and it’s becoming more accessible to retail investors. It offers a stable way to grow income, an alternative to the ‘gambling’ associated with stocks or the opacity of private equity. Education is crucial to inform people about this option.

How did you build your 4,000-strong community at FBF?

UG: We have an active presence on Instagram, Substack, LinkedIn, Slack, and WhatsApp. We share news and fixed-income education in an easy-to-digest format. We demystify the jargon and discuss complex topics like the US debt ceiling in simple terms.

What’s your biggest achievement with FBF?

UG: It now spans over 13 countries! Also, seeing the support and power of women helping women flourish. It’s incredibly motivating.

Why should women care about finance?

UG: Firstly, for financial independence. Secondly, women live longer than men, so they need to plan for a longer retirement. Thirdly, women often don’t discuss investments as casually as men, which has implications. For instance, financial abuse is present in 98 per cent of domestic violence cases. Investment education empowers women to be in charge of their finances.

What’s the biggest lesson you’ve learned since starting FBF? 

UG: Doing the right thing snowballs. My small mentorship circle has grown into something much bigger. True gender equality comes through awareness and acknowledging subconscious biases. Educating everyone, not just women, is key to achieving sustainable equality.