Dr. Katharina Seiler is Senior Fund Manager at DWS, where she is responsible for the DWS Invest ESG Women for Women fund, among others. Katharina is also committed to women in the financial sector outside of her profession: she is an advisory board member of Fondsfrauen and is passionate about female finance. Katharina is also one of the few quant women in our industry. In this interview, we talk to her about how to show girls that Money is cool!
Katharina, since the beginning of 2024, you've been supporting Fondsfrauen on the advisory board. What motivated you to get involved here?
I've known Fondsfrauen from the beginning. The network was practically formed before my eyes and has grown enormously. Right from the start, I thought, "This is my idea!" and wanted to support the industry network. At DWS, I then advocated for us to launch the DWS Invest ESG Women for Women fund. Through the equity fund, the topic of Female Finance has gained even more space for me, and I address it wherever I can in lectures, panels, and presentations. When Anne called me last fall to ask if I wanted to join the Fondsfrauen advisory board, I felt very honored.
Why do you think women's networks are important?
When there are role models, women feel more comfortable. Women attract women. I see this at DWS as well: many interns are drawn to the DWS Invest ESG Women for Women. Networks can help women become more confident and visible. There's a real momentum.
Have you ever experienced discrimination because you are a woman or have a migrant background?
Here in Germany, I've never really experienced discrimination, neither as a woman nor because of my migrant background. The finance industry is quite international. That doesn't mean everything was easy. When I came from Russia to Germany, I neither spoke German nor was familiar with the cultural customs. I had to integrate myself – as a quant woman and as a person with a migrant background. For example, when starting my career, I was already older than many German colleagues who didn't have these hurdles to overcome. I accepted the challenges and contributed my expertise. For example, I convinced my team to integrate quantitative analysis into portfolio management.
How did you then get a foothold in the fund industry?
I did my doctorate on quantitative models, which was quite theoretical and academic. The transition to practice wasn't easy; it was a completely different way of thinking from the academic world. I had to learn the craft of fundamental analysis here. On the other hand, the team also benefited from my skills. When I entered the industry in 2007, it was still very male-dominated. So, I initially sought connection with other women.
Surveys repeatedly show that women often aren't interested in finances. What can be done to encourage women to take control of their own finances?
I really notice that I come from a different culture. When I studied at the University of Khabarovsk in Russia, in the finance department, we were 30 girls and two guys. In Asia, the proportion of women in the finance industry is significantly higher than in Germany, where girls are often discouraged from mathematical subjects or topics like financial economics. So, we see a big cultural difference. We need to invest in financial education and inspire interest in the subject – and this should start as early as possible. For me, this includes promoting an affinity for dealing with numbers.
You have a great affinity for finance. What excites you about it?
I always found it exciting to work at a bank or a fund company. For me, the industry is very positive because it has a lot to do with growth and development. The financial sector enables company foundations and the creation of many new things.
You even went to your daughter's school and talked to the 3rd graders about finances. What was your experience?
I had an incredible amount of fun. The students absorbed the information like a sponge, and they were so positive! There was no difference between boys and girls. I told them about how we analyze and select companies in equity fund management. I brought toys and chocolate coins for this. I'm convinced that we need to focus on the fun factor, even with the seemingly dry topic of finance.
How can, for example, schools convey the fun factor?
Teaching methods are often still old, but the children are changing. They consume more media and are swept away by ever-faster technological developments. We need to take this into account. It's important to make abstract subjects more tangible, with closer ties to practice. In Russia, I was at a lyceum. In the last class, professors from the university taught. They were really cool. In Germany, we need teachers who work more with images, experiments, and tangible knowledge. The children should see how the subject knowledge is applied in the end! Then even the topic of finance can be fun.
Girls often also dislike that money has to do with power.
For me, money is primarily an important tool with which you can make things better – not just privately, but also professionally. Privately, money can pave the way to a self-determined independent life. And as a fund manager, you can influence, for example, making the world greener and more just. We should convey this positive message.
Vielen Dank für das tolle Gespräch, liebe Katharina!
Foto: DWS
Anke Dembowski is a financial journalist and author of various investment fund-related and other financial books. She is also a co-founder of the "Fondsfrauen" network.