Billie Jean King named strategic adviser on gender equality for First Women’s Bank

Tennis legend and fierce women’s rights activist Billie Jean King joined a new team this week, becoming an investor and adviser for a new Chicago-based bank hoping to close the gender gap in access to capital.

King was named a strategic adviser on gender equality for First Women’s Bank, the financial institution announced Wednesday.

“A critical step toward achieving gender equality is creating economic parity and financial inclusion, which requires closing the racial and gender gaps in access to capital,” King said in a statement. “I look forward to joining First Women’s Bank as we work to bridge those gaps and empower women from all walks of life to reach their full potential.”

First Women’s Bank, which is set to launch this summer, is an innovative women-owned, led and focused online bank that aims to provide more financial resources to female business owners, who often get passed over for conventional business loans.

The bank’s market research found 16% of all conventional business loans go to women-owned businesses.

“We are thrilled and honored to welcome Billie Jean to First Women’s Bank,” the bank’s president and CEO Marianne Markowitz said in a statement. “She is a legendary sports icon, an accomplished business woman and a devoted advocate for equality. Billie Jean’s support both as an investor and adviser will help us fulfill our mission to grow the economy and advance the role of women within it.”