Female Executive in Fintech Talks: Exclusive Interview with Marilena Iakovou, CMO at M4Markets

It's encouraging to see that share of women Chief Marketing Officers (CMOs) has jumped from 36% in 2018 to 47% in 2020, according to the latest CMO Tenure study from Spencer Stuart. However, in the financial services workforce, women fill only about 20% of the leadership roles. Share of CMOs among them can't probably be so high as to even up the percentages of women and men in the role.   

We understand that marketing plays a significant role in building and maintaining a long-lasting relationship between the traders and the broker. It makes the investors more brand loyal so that they will continue to trade in the platform. That's why brokerage firms usually give great weight to it. But nevertheless, from the data mentioned above, the power of female seems to be underestimated in this specific sector. 

According to a study by Deloitte, placing women in leadership positions tends to drive innovation, increase productivity, and boost profitability. In fact, there are notable examples of female CMOs contributing to successful brokerage business growth. For instance, Marilena Iakovou, CMO at M4Markets, has driven the company's expansion to several new regions including Asia, S.Africa, MENA and LATAM in a short time span of one year.

Marilena joined M4Markets from Tickmill in 2020, with 10 years of experience in marketing of forex trading services. As part of our effort to help women's power to be seen, Fazzaco has an exclusive interview with her today.

Fazzaco: Hi Marilena Iakovou! Thanks for joining us at Fazzaco today! From marketing officer, interns, to CMO of M4Markets, can you tell us about the story that led you to your current position?

Marilena: I've been working in the FX industry for a decade and before M4Markets, I had worked with brands that were established which contributed a lot to my knowledge and experience. When the opportunity came along to build M4Markets from scratch I thought the challenge would be a great fit for me, my career and professional aspirations. With M4Markets I have the opportunity to work for a brand that I am personally involved in, but it's also offers me the chance to build it from the ground up. I think this is a challenge that all marketeers would cherish and I feel proud to be in this position.

Fazzaco: Could you please share with us some highlights in your career since you took the position as CMO of M4Markets?  

Marilena: 2021 was really a highlight in itself as we achieved a great deal of things in a very short time span. With a team of just five people, we managed to build a new website for M4Markets from scratch, establish our brand, launch MT5, add new asset classes to our offering and increase the number of instruments offered. We also expanded to new regions, like Asia, S.Africa, MENA and LATAM and created more than 20 marketing campaigns localizing them to meet the needs of each individual market. All of these marketing activities culminated in M4Markets being awarded as the Best Newcomer Broker in 2021 which I believe is a good indication on the impact we've had in the industry, as well as our potential.

Fazzaco: As a female leader, do you think it's a challenge to get into the financial industry with a majority of men?

Marilena: Even if it is, I never personally felt it. In general, I am a person who will not get competitive or aggressive with anyone I work for. As such, I've never really found it as a challenge to work in this male dominated industry since I always try to find channels of communication with everyone that will allow us to reach the maximum of our potential. In my career so far, my work has been well-recognized and appreciated. Therefore, the only challenge, is with myself, to become better by the day. I never let anyone treat me differently than anybody else and whenever I came across with power games or politics I always make sure to cut off this kind of behaviours.

Fazzaco: How do you usually enjoy your time when not working?

Marilena: I am sure the people working with me and reading this already know the answer! I am probably thinking about work. Even when I am not at the office, my brain is still working and coming up with solutions to any issues we might be dealing with. Of course, I appreciate that taking your mind off things can make you more creative, so I also enjoy travelling, music and of course I love the summer, so swimming and snorkelling are my go-tos weather permitting.

Fazzaco: As a female leader, have you found any differences between men's and women's perspectives when making a strategic decision or a decision related to profession?

Marilena: I believe that it all comes down to character and not gender. I've worked with both female and male leaders whose perspectives were similar to mine and we managed to achieve great things. I believe that to be a good leader and great at your work you need to keep an open mind and to be creative.

Fazzaco: What do you think is a female leader's strength over men, particularly in marketing?

Marilena: None. Like I said above it all depends on character and skills of course. Maybe I never felt that there are strengths or weaknesses between the two gender because I am confident about what I can do and my work. I am always very focused and I give more than 100% of my self on everything that I do so eventually this is shown and appreciated.

Fazzaco: What are your thoughts on the financial industry? Where should it be heading?

Marilena: It is definitely fast paced. You constantly need to keep your eyes and ears open, understand how developments might be affecting your brand and be able to make decisions on the go.  developments and how it affects your work.

Where are we heading? To an even more digitalised driven industry that requires a state-of-the-art technology to be competitive. Faster transactions, lower costs, more products, client-centric approach. At the same time, it's evident that regulation will continue imposing restrictions but I am sure that all in all, the future holds great things.