Business – Jamie Thorsen

Profit & Loss Magazine Recognizes FX Industry Leaders

An executive managing director with the Bank of Montreal for more than three decades, Jamie Thorsten managed the Global Foreign Exchange group and the China Capital Markets group. The only female head of global foreign exchange (FX) at the time, Jamie Thorsten was named a 2009 Woman Worth Watching and made the Profit & Loss Magazine 2010 Hall of Fame.

Established in 1999, Profit & Loss Magazine employs a staff of seasoned journalists to provide key insights into developments in the FX industry. Published twice a year, the magazine provides coverage of the buy and sell side of FX, as well as daily news articles from its online site. By focusing on strategic shifts and technological advances that affect the ever-evolving FX landscape, the publication offers readers the knowledge they need to grow and thrive.

Profit & Loss Magazine celebrated its 10th anniversary in 2009 by establishing a Hall of Fame to honor accomplishments in the foreign exchange industry. In 2010, the publication inducted its first six members.

History of The Service Club of Chicago

Established in 1890, The Service Club of Chicago is a women-led all volunteer charity that supports Chicagoland’s most worthy nonprofit groups. The organization was launched by 13 women who drew inspiration from Jane Addams’ Hull House, and their original work focused on creating garments for children in need.

Now retired, Jamie Thorsen spent more than 30 years in the banking industry, ultimately serving as executive managing director of FX products and China capital markets with BMO Capital Markets. Jamie Thorsen is currently a member of the Denison University board of trustees and The Service Club of Chicago.

By 1894, the organization had become The Service Club and began focusing on giving to individuals and families, with an emphasis on immigrants. As more and more organizations were developed to meet the needs of the city’s underprivileged residents, The Service Club began contributing to these organizations. In 1938, the name was changed to The Service Club of Chicago, and the charity began shifting its focus to support housing, employment assistance, education, and healthcare, later adding cultural organizations.

The organization continues this important work today. To learn more, visit www.theserviceclubofchicago.org.

Rising Numbers of Women Hold CEO Positions, But Progress is Slow

Having retired after 35 years of service at BMO Capital Markets in Chicago, Illinois, Jamie Thorsen’s core competencies include executive leadership and international finance. The only woman on the company’s executive committee, Jamie Thorsen maintains a professional interest in the advancement of women to top positions.

A 2018 study indicates that although more women than ever before are on corporate boards of directors, few of them have reached the C-suite, an industry term that encompasses executives that have the word “chief” in their title.

The study investigated companies in the Russell 3000, an index that represents nearly all publicly-traded companies in the United States. Although the rise in female chief executive officers (CEOs) is dramatic, they still account for only five percent of the Russell companies. Women in the real estate, telecommunications, and energy sectors are especially under-represented.

Moreover, would-be women CEOs are concentrated in departments whose executives rarely reach the C-suite, such as administration and human resources. Executives directly involved in the profits of their companies, such as leaders of sales departments, are more likely to be promoted.

Several solutions have been proposed, such as training programs to reduce unconscious bias and support networks of female achievers. Other remedies include setting well-defined diversity goals, re-examining career paths to the C-suite, and encouraging a good work-life balance.