Ladies who lunch is a euphemism not often used to describe successful businesswomen. But at Morgan Stanley, the financial services firm, “cascade sessions” – female get-togethers usually but not exclusively held during lunchtimes – are an integral part of its drive to promote more women to senior positions.

The company’s Women’s First Choice (WFC) network, set up by female Morgan Stanley employees in 2003 for women to meet, network and discuss work-related issues, launched the cascade sessions last year as part of its remit to provide training and career development strategies for female employees.

The programme has a tiered structure. At the top level, one female managing director meets a small group of between two and four female executive directors. Each executive director hosts similar meetings with groups of eight to ten vice-presidents. Two vice-presidents then preside over groups of up to 20 women from below the officer grades.

“We tend to focus on the people closest in level because, although everyone’s looking for their next step and how to get there, the challenges that people face change over their career term,” says Kathryn Ebbens, executive director and former WFC chairwoman, who is responsible for running the cascade programme. Regardless of grade, the cascade sessions aim to help women to develop their careers through discussing work needs, aspirations and experiences in an informal environment, while receiving inspiration and guidance from senior colleagues.

Through the cascade lunches, Morgan Stanley’s female employees have the opportunity to ask more senior colleagues how they achieved certain goals, what obstacles they encountered and how they tackled them. Then when they host a session for staff on a level below them, they can offer advice on circumstances with which they themselves are familiar.

Participants are encouraged to sign up for sessions that are not hosted by their direct boss. This allows more candid exchanges and also has the advantage of expanding networking opportunities.

“It’s a very good way to approach the discussion of issues that are relevant to women who are trying to develop their careers. Typically you walk out with some practical advice on tackling one or two issues and some inspiration from women who have broken the glass ceiling,” says Rebeca Ojeda, vice-president.

The feedback received by the WFC from participants is glowing. Almost two thirds of them rated the sessions as excellent and they agreed unanimously that they would recommend the programme to other women.

Ebbens says: “We don’t have to be alpha male types to be successful in banking. Women bring different skills and have different natural strengths. Cascade discussions help us to perform to the best of our abilities.”

Next month male managing directors will host cascade events for the first time because Ebbens thinks it is important that men and women understand each other’s views.

Ojeda adds: “You need to have closed session discussions but also make it an inclusive forum where you invite senior male colleagues and get them to participate, to see what perspectives women have.”

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