Beyond the Check: FWSF Forges a New Generation of Finance Leaders

SAN FRANCISCO, CA – May 06, 2026 – As Financial Women of San Francisco (FWSF) celebrates its 70th anniversary, the organization has announced its 2026 scholarship recipients, awarding eight exceptional undergraduate and graduate students with funds and—perhaps more importantly—a gateway into the industry's inner circle. The program provides $10,000 to undergraduates and $15,000 to graduates, but its true value lies in a structured mentorship program that has been launching careers for decades.

This year's cohort joins a prestigious lineage of over 365 women who have received more than $3.5 million since the program's inception in 1985. The announcement comes at a critical time, as the financial services industry, particularly in the competitive Bay Area, continues to grapple with significant gender disparities in leadership and pay. By investing in these promising women, FWSF is not just awarding scholarships; it is actively shaping a more equitable future for finance.

A Legacy of Launching Leaders

The FWSF scholarship is a proven catalyst for transformative careers. The program’s alumnae roster reads like a who's who of innovators who have gone on to redefine financial access and inclusion. Among them is Jessica Jackley, co-founder of Kiva, the world’s first person-to-person microlending platform that has since facilitated billions in loans to entrepreneurs in underserved communities globally. Her journey from student to celebrated social entrepreneur underscores the long-term impact of FWSF's early support.

More recently, the power of the program’s mentorship component was vividly illustrated by Hanna Leen, a 2017 graduate scholarship recipient. Leen credits the program with providing the pivotal connection that enabled her to establish TMC Community Capital, a lender focused on empowering underestimated entrepreneurs. “This group opened a new world for me,” Leen stated. “Through my mentor, I made a connection that allowed me to launch TMC Community Capital. Today, we have deployed $24 million to 2,100 underestimated entrepreneurs across California.”

Leen’s story is not an outlier but a testament to the program's core design. It confirms that the combination of financial relief and expert guidance creates a powerful launchpad. By pairing scholars with established female leaders, FWSF provides a direct line to the kind of institutional knowledge and networking that is often inaccessible to those outside established circles.

Meet the 2026 Cohort: A New Wave of Talent

The eight women selected for the 2026 scholarship embody a diversity of backgrounds, disciplines, and ambitions, reflecting the evolving landscape of the financial industry. They are not only academic high-achievers but also dedicated campus and community leaders poised to make their mark.

This year’s undergraduate recipients include Arianna Costello, a Finance major at the University of San Francisco who already serves as President of Women in Finance and a student lead for the AI Research and Policy Lab. She is joined by Jasira Gay, an Accounting student at Saint Mary’s College active in the Black Student Union and Data Science Club, and Naledi Mackenzie, a Business Administration student at the University of San Francisco who serves as Treasurer of the National Society of Black Engineers.

The graduate recipients showcase a similar drive and focus. Alyssa Karbel, now at Stanford’s Graduate School of Business, began her career in investing at Goldman Sachs and Wellington Management and already gives back by mentoring young women through the Invest in Girls initiative. Aeli Sherpa, originally from Nepal, transitioned from a science background to pursue a Master’s in Accounting at Saint Mary’s College, where she supports fellow international students as Vice President of the Global Student Network. The cohort also includes Abbeir Jaber (UC Berkeley, Haas), Tam Nguyen (California State University), and Maribel Wenzinger (Santa Clara University), each already demonstrating leadership in their respective programs and communities.

These women are entering fields ranging from traditional accounting and investment management to the intersection of finance with technology and social impact, representing the multifaceted future of the industry itself.

More Than Money: The Power of Mentorship and Community

While the financial award provides crucial support, FWSF leaders and alumnae consistently emphasize that the mentorship program is the scholarship’s most invaluable component. Each scholar is personally matched with an FWSF member—a senior leader, founder, or executive from a top Bay Area firm—for a structured, year-long mentorship. The matching process is meticulous, considering not just career goals but also personal interests to foster a genuine connection.

“This is personal to me,” said Karen Crowley, FWSF’s 2026 President, who previously chaired the Scholarship Committee. “I know firsthand how transformative access, encouragement, and community can be in opening doors we couldn’t reach alone.”

This sentiment gets to the heart of FWSF's mission. The organization provides what decades of research show is critical for women’s advancement in male-dominated fields: visible role models, strategic advice, and a built-in network of sponsors and advocates. Mentors dedicate time each month to guide their mentees, sharing candid insights on navigating corporate culture, negotiating salaries, and building a sustainable career path. The relationship often extends far beyond the formal one-year program, becoming a lifelong professional resource.

Bridging the Gap in Bay Area Finance

The work of FWSF is particularly vital in the context of the financial industry's persistent gender inequality. In North America, women hold only 23% of C-suite positions in financial services, a figure that drops even lower for women of color. The demanding culture, unconscious bias, and a scarcity of female role models in top positions create significant barriers to advancement.

FWSF's scholarship program directly confronts these challenges. By selecting scholars from diverse ethnic and socioeconomic backgrounds, the organization is actively diversifying the talent pipeline. It provides a crucial counter-narrative to the notion that finance is an exclusive club.

As Crowley explained, the committee seeks out scholars who have navigated significant hurdles. “Our scholars have navigated financial pressures and environments where opportunities weren’t always visible or accessible,” she noted. “Through financial support and mentorship, FWSF helps bridge their path into their professional futures.”

As FWSF marks its 70th year, its work has never been more relevant. By championing this new cohort of eight talented women, the organization is not only honoring its long legacy but also making a strategic investment in a more innovative, inclusive, and resilient financial industry for the Bay Area and beyond.