Interview with Barbara Riccardi | GCC Board Directors Institute

1. Tell us about your career journey and how you came to serve on a board.

I have over two decades of experience in corporate and investment banking, specializing in the infrastructure and energy sectors. Since June 2020, I have been the Managing Director and Regional Head for Natixis CIB in the Middle East, Central Asia, and South Caucasus, focusing on developing a sustainable corporate banking franchise. I also serve as the Global President of WINN, the Natixis Women Network, advocating for diversity as a vital business asset.

From 2018 to 2020, I was Managing Director and Head of Distribution and Portfolio Management, leading portfolio optimization and syndication in the region. Previously, in New York, I was Managing Director for Global Infrastructure and Projects, where I enhanced advisory services across the Americas, helping Natixis rank as a top financial advisor.

In Dubai, I executed significant project finance transactions, including a landmark USD 1.7 billion project in Bahrain. Before joining Natixis, I held director-level positions at DZ Bank and WestLB in London, focusing on structured finance and energy projects.

My banking career began at the European Bank for Reconstruction and Development, building foundational skills in financial modeling and project analysis, following an initial role as a field engineer at Schlumberger. I have served on the Board of our Saudi subsidiary since becoming Regional Head and also on the Board of WINN as President.

2. What are you most proud of and why?

I take great pride in several key aspects of my professional journey:

Leadership Roles: I have reached prominent leadership positions, including my current role as Managing Director and Regional Head for Natixis in the Middle East and CCA, where I lead complex banking operations across diverse regions.
Impact on Sustainability: My focus on developing the corporate banking franchise with an emphasis on sustainability showcases my commitment to responsible finance and positions me as a leader in promoting sustainable business practices.
Board Memberships: As a member of the GCC Board Directors Institute and Board Member for Natixis’ Saudi subsidiary, I contribute to governance and strategic decision-making at a high level, highlighting my dedication to improving corporate governance and promoting diversity and inclusion.
Mentorship and Advocacy: My role as a Board member of the Natixis Women Network illustrates my commitment to empowering other women in finance and fostering a more inclusive environment for future female leaders.

Overall, my journey embodies resilience, expertise, and a commitment to advancing my career while supporting sustainability and diversity in leadership.

3. What are your professional areas of expertise and what skills do you bring to the boardroom?

I bring significant expertise and a diverse skill set to the GCC Board of Directors, making me a valuable asset.

Areas of Expertise:

Corporate and Investment Banking: Extensive experience managing banking operations in the Middle East, Central Asia, and South Caucasus.
Project Finance and Advisory: Proven track record in structuring large-scale infrastructure projects, particularly in energy and sustainability.
Sustainability and Transition Finance: Focused on aligning financial strategies with environmental and social governance (ESG) principles.
Governance and Compliance: Experience as a non-executive board member and chair of audit and risk committees, enhancing corporate governance practices.

Skills:

Strategic Leadership: Strong leadership capabilities in managing teams and driving growth.
Analytical Thinking: Proficient in assessing complex financial data for informed decision-making.
Communication and Interpersonal Skills: Effective in articulating ideas and building stakeholder relationships.
Negotiation and Influencing: Skilled negotiator capable of driving consensus in board discussions.
Cultural Competence: Deep understanding of Middle Eastern and global markets, enhancing my ability to lead in diverse environments.

My blend of finance, sustainability, governance expertise, and interpersonal skills positions me as a powerful contributor to the GCC Board of Directors.

4. What are the benefits that diversity can bring to the boardroom, including women on boards?

Diversity in the boardroom, particularly the inclusion of women, brings numerous benefits that enhance organizational performance and decision-making.

Enhanced Decision-Making: Diverse boards foster a variety of perspectives, leading to more comprehensive discussions and innovative solutions. This diversity of thought helps in identifying risks and opportunities that a homogeneous group might overlook.
Improved Financial Performance: Research consistently shows that companies with diverse boards tend to outperform their less diverse counterparts financially. This can be attributed to better risk management and a broader understanding of the market.
Greater Representation: Women on boards provide insights into consumer behavior and preferences, which can be crucial for companies aiming to serve diverse customer bases effectively.
Attracting Talent: Organizations with diverse leadership are often more appealing to potential employees, particularly younger generations who value inclusivity. This can enhance recruitment efforts and improve employee retention.
Stronger Governance: Diversity can contribute to more rigorous oversight and accountability, as varied backgrounds and experiences encourage critical questioning and reduce groupthink.
Positive Corporate Reputation: Companies that prioritize diversity are viewed more favorably by clients and investors, enhancing brand loyalty and stakeholder trust.

In summary, embracing diversity, including women on boards, not only drives better business outcomes but also fosters a more equitable and innovative corporate culture.

5. What is your advice for women who are aspiring to leadership and board positions?

For women aspiring to leadership and board positions, the following advice can be invaluable:

Build a Strong Network: Cultivate relationships with mentors, sponsors, and peers in your industry. Networking can open doors to opportunities and provide guidance on navigating your career path.
Seek Leadership Opportunities: Actively pursue roles that enhance your leadership skills, whether through project management, team leadership, or volunteer positions on non-profit boards. These experiences build your resume and confidence.
Develop Expertise: Focus on becoming an expert in your field. Continuous learning, pursuing advanced degrees, or obtaining relevant certifications can set you apart as a knowledgeable candidate.
Communicate Effectively: Hone your communication skills, both verbal and written. Being able to articulate your ideas clearly and persuasively is crucial in leadership roles.
Embrace Visibility: Don’t shy away from showcasing your achievements. Participate in industry events, speaking on panels, and contribute to discussions, which can help raise your profile.
Understand Governance: Familiarize yourself with corporate governance and the responsibilities of board members. This knowledge will prepare you for board roles and demonstrate your commitment to effective leadership.
Be Resilient: The path to leadership can be challenging. Stay persistent, embrace setbacks as learning opportunities, and maintain a positive attitude.
Advocate for Yourself and Others: Don't hesitate to voice your ambitions and support other women in their journeys. Creating a culture of advocacy can empower more women to seek leadership roles.

By following these strategies, women can better position themselves for success in leadership and board positions.