Nehal Udeshi, Head of Securities Finance, BNY, won Excellence in Finance at Markets Media Group’s 2025 U.S. Women in Finance Awards.

Congratulations on winning the award. What was your reaction when you heard the news?

Our clients entrust us with critical work every day. We value and respect that trust by being client-obsessed, sparking progress, owning outcomes, staying curious, and thriving together.

I am honored to win, and I am proud that this recognition also reflects the achievements of the team. It demonstrates the collaboration across trading, product, technology, client coverage, and operations.

This award is very motivating, and I want to thank the women leaders who have inspired me to model inclusive leadership, elevate diverse perspectives, and drive results – your influence shows up in our outcomes every day.

We’ll keep raising the bar and delivering with excellence—together.

You’ve had a strong career path culminating in your current role as Head of Securities Finance at BNY. What have been some key challenges — and what enablers — along your journey as a woman leader in financial services?

The pace and complexity of securities finance can be exhilarating—and demanding. Joining BNY and stepping into a global leadership role meant adapting quickly and learning continuously. My career has taken me across markets and geographies, including moves between London and New York, which taught me how to navigate change and stay agile.

I’ve been fortunate to have mentors and sponsors who opened doors and challenged me to grow. In a traditionally male-dominated field, visible and authentic leadership matters — and it takes courage. Cultures that welcome challenge and prioritize inclusion make all the difference.

When teams know you prioritize collective success over individual wins, they bring their best. That mindset has enabled strong outcomes for the business and meaningful growth for our people.

As Head of Securities Finance at BNY, what are your key priorities in driving growth and innovation — and how is the business positioning itself to stay ahead in a rapidly evolving market?

At BNY, our north star is simple: be more for our clients. That means anticipating where the market is headed, not just reacting to today. Securities finance is evolving fast, shaped by regulatory shifts like T+1 settlement, increasing capital requirements, and heightened focus on collateral optimization and liquidity efficiency across securities financing markets. At the same time, technology and data are redefining what’s possible.

We’re building on BNY’s heritage in custody, clearing, and collateral management to connect liquidity, financing, and collateral needs more seamlessly for our clients. That includes innovations like 1Source, the DLT-based platform from EquiLend, which simplifies reconciliation and creates transparency. We’re also enhancing optimization and clearing capabilities with collaborations with Cboe, and leveraging AI through Eliza, our enterprise platform, to deliver insights and personalized solutions.

Ultimately, growth isn’t about doing more, it’s about doing things differently. With agility, collaboration, and an uncompromising focus on client outcomes, we’re positioned to lead the next chapter of change.

You emphasise team, talent and authenticity. How do you think the industry can better cultivate diverse leadership pipelines — especially in technically complex areas like securities finance?

This is close to my heart. First, give young talent real exposure to challenging, technical work early. Fresh perspectives often spark innovation. At BNY, we prioritize investing in mentoring, sponsoring, and empowering emerging leaders to take ownership and lead.

Second, role models matter. Leadership should show that success isn’t just technical mastery, it’s collaboration, authenticity, and a team-first ethos. If the leadership message is “individual hero” rather than “team outcome”, the pipeline will follow suit; when it emphasizes collective outcomes, teams flourish.

Lastly, remove invisible barriers: providing flexible pathways, valuing diverse backgrounds, and promoting lateral moves across business, tech, and client roles. Securities finance sits at the intersection of liquidity, financing and collateral— a great opportunity for diverse leaders to shine.

What advice would you give to a young woman starting out in finance today?

Stay curious. Ask questions but bring authenticity to your work: align ambition with values, seek teams where collaboration is rewarded, and mutual success is the norm. Your outcomes will depend on others, just as theirs depend on you; shared purpose and trust are essential to sustained performance.

Finally, do not wait for permission. Volunteer for challenging assignments and pursue roles that stretch you. Some of the most meaningful breakthroughs arise when you lean into discomfort, take ownership, and embrace learning at pace. This approach accelerates capability, builds confidence, and equips you to lead with integrity.