In Conversation with Women in Alternatives: Dana Hanby

As a part of our ongoing initiatives for our ‘Women in Alternatives’ programme, our Director of Funds and Corporate Nicola Le Brocq recently chatted with Dana Hanby, Managing Director at ESG Nexus.

How did you come to work in alternative investments?

Believe it or not, my first degree is a master’s in electrical engineering, which gives me a very good insight into the energy sector. I then went to complete my MBA to add commercial and financial knowledge to my first degree. After then, I was invited to a job trade show in Brussels, alongside many other MBA students. Most people who were invited there ended up with two or three job offers, and at that time, I also applied for a position on the trading floor of a major energy company and was accepted.

So, it was probably a bit of luck or “fate”. But my first degree certainly helped, and I have always been very interested in physics, science, and finance. Also, at that time, environmental markets were gaining momentum with the Kyoto Protocol (which had been negotiated and adopted much earlier), coming into force, and I became deeply engaged in the emerging carbon markets. This area has been continuously evolving, and as someone who is passionate about health and the environment and believes that we can’t be truly healthy in a polluted environment, I was “hooked”, and here I am twenty years later, just as driven by the challenges and the impact that this space can have.

How have things changed for women in alternatives over the past 20 years that you have been in the sector?

When I was studying for my MScEE, less than 1% of women were on the faculty. The front office of Energy and Environmental Commodities was and still is a male-dominated area. Percentage-wise, it may look slightly better, but what I feel is important is the resulting culture – not only in the organisation where you work, but also in the sector more broadly.

Today, there’s greater awareness around diversity and inclusion, with stronger regulatory frameworks and shifting norms. It is unlikely, therefore, that you would be invited to a type of after-conference networking events/parties, which I have witnessed. And also, the types of comments that were once commonplace are, thankfully, much less tolerated. But while the landscape has improved on the surface, systemic barriers still remain.

Even though women are now equally – if not better – educated than their male counterparts, we continue to see a lack of female representation in leadership roles. Interestingly, the recent Harvard Business Review highlighted this exact issue, which tells me that while the conversation is evolving, there is still work to be done to create structures that genuinely support women in reaching their full potential.

What techniques or strategies do you use to negotiate?

I believe that strong industry insight should form the foundation of effective negotiations. It may sound obvious, but it is not necessarily a common factor in negotiations. However, I don’t think that information alone drives outcomes. I have seen many knowledgeable individuals who employed hard-sell techniques leave with unsatisfactory results. I view each negotiation not just as a transaction, but as an opportunity to better understand the organisation and the individuals across the table – especially the nuances that aren’t captured in a pitch deck or a company’s website. I believe that listening is often more important than selling, while also being aware of the unspoken assumptions and subtle points of misalignment that, if left unaddressed, can derail even the most well-prepared negotiation.

That said, I also draw on proven strategies from some of the world’s leading experts in the field – people like Herb Cohen or former FBI hostage negotiators – who have demonstrated how to identify and respond to different negotiation styles. Recognising the technique your counterpart is using can be just as important as knowing your own. Ultimately, for me, it’s about curiosity, clarity, and creating conditions for a mutually beneficial outcome.

What advice would you give someone considering a career like yours?

My advice? Choose a path you’re genuinely passionate about. Alternative investments –  and particularly areas like sustainable finance – can be deeply rewarding, but they’re also complex, constantly evolving, and often shaped by competing priorities and political undercurrents.

It’s not always a straightforward journey, and there will inevitably be moments of uncertainty. What carries you through those times is a clear sense of purpose and a belief in the value of the work you’re doing. That said, passion alone isn’t enough. This is a fast-moving space with shifting regulations, emerging technologies, and changing investor expectations. And this occurs on a day-to-day basis, with deeper shifts observable every few years.

So, staying curious, flexible, and committed to lifelong learning is essential. Don’t be afraid to ask questions, stretch beyond your comfort zone, or take thoughtful risks. At the heart of it, though, this work is for people. And when I say, “for people,” I don’t mean just your clients or your boss – I mean all of us. Whether it’s ensuring access to clean water, supporting a healthier environment, or driving more ethical investment practices, sustainable finance has the power to shape the world we live in. So, before diving in, take the time to reflect on your own ”why”. Why do you want to be in this field? What does success or even ”luxury” mean to you?

Have you had any influential mentors and how important do you think mentorship is?

Any time I’ve heard women express gratitude to their mentors, it’s often been followed by others saying, “You were lucky!”—and that, in itself, speaks volumes about the value of mentorship. Unfortunately, I wasn’t one of the lucky ones. I never had the privilege of a dedicated mentor. That said, I’ve come to deeply appreciate how powerful mentorship could be – especially in a field like alternative investments, which remains, in many ways, male-dominated and not always easy to navigate.

A mentor, whether formal or informal, could guide you through both the technical side of your role and the more subtle, unspoken dynamics of the industry. Being able to ask, “is this normal?” or “how would you handle this?” could be transformative – but often it’s those quiet conversations that give you clarity and direction.

Mentorship doesn’t need to be always understood as top-down. Some of the most valuable exchanges I’ve had were with peers or professionals in adjacent fields. Surrounding yourself with people who challenge, support, and inspire you is one of the best strategies for growth. And as you progress, don’t underestimate the impact you can have by mentoring others. We all have something to offer, and in this field, we rise by lifting others. There is still so much space for women to shape the culture and future of alternative investments – and mentorship is one of the most effective ways to open that door a little wider.