Movers and Shakers: Virginia Volpe, CFA, Director, Hedge Fund Services, Global Transaction Services, Citi

By Melissa J. Anderson (New York City)

“Get comfortable in your own skin as fast as you can,” recommends Virginia Volpe, Director of Hedge Fund Services at Citi’s Global Transaction Services division. “You will be so much happier so much sooner – I only realized that four years ago,” she explained with a laugh.

Volpe exudes a good-natured confidence, something she attributes to to her flexibility. “One of my professional achievements is how easily I’ve been able to slip in and out of various roles, whether at Citi or going back to being a member of a small village,” she said, referring to her time in the Peace Corps in Sri Lanka working as a community developer.

It was during her time in Sri Lanka that Volpe developed an interest in finance. “I was really intrigued by microfinance, but did not have a firm understanding of capital markets” she explained. After receiving her degree in Economics and Latin American Studies from the School of Advanced International Studies (SAIS) at Johns Hopkins University, Volpe began a career as an analyst at Reuters, and eleven years ago, she says, “I was invited to work at Citi and haven’t looked back since!”

Success: A Personally Defined Journey

Filling roles in finance, strategy, M&A, Consultant Relations management, and now Sales, Volpe certainly has demonstrated her flexibility. “Citi has provided me such a variety of choices and has backed me every step of the way,” she explained.

And for Volpe, success is multifaceted and self-directed. She believes that each individual needs to work to achieve her own definition of success. “We can define success – what success means for ourselves,” she explained. “I think that is a beautiful gift we have been given by previous generations. I can be successful for my clients, but in personal measures as well. We’re no longer required to be 100% focused on work. We can make dynamic choices.”

To Volpe, success comes from personal empowerment. She says this goes back to her experience working in the mountains of Sri Lanka. She explained, “In Sri Lanka there are several factories that women work in – what we would consider terrible conditions with long hours. Women still go in droves, though. It means independence for them – change. It’s not going to be me in the U.S. saying these are terrible conditions. It has to be these women.”

Similarly, Volpe believes women can take charge of their own success in the investment management industry – there are no concrete barriers. “I really don’t see them as being insurmountable,” she said. “The hedge fund industry is such a new industry” she explained. “Newer industries naturally attract much more diversified talent – and not just women.” However, like the women in the Sri Lankan factory, we can often be “our own barriers.” “We have to always look up,” she said.

Hedge Fund Industry Changes and Challenges

“This is the Big Bang – our Woodstock,” Volpe joked. “Twenty years from now, kids will be saying, ‘you were there?’.” She continued, “we are at a real changing point.”

Following the turmoil in investment management in the past couple of years, Volpe is optimistic, even excited, about helping to blaze the industry’s path in the coming years. “Even post-Madoff, [discussing] impending regulations and how you define transparency,” she said, are questions on everyone’s mind – and she’s excited to be part of the conversation.

“I get to help shape what’s happening for my company – there’s no better place to help our client base,” she explained. “Whatever comes down the pipe, we will be at the forefront of being able to provide that.”

A big change for Volpe personally was her move from strategy and M&A in Global Transaction Services to her current client facing role. “I kind of went kicking and screaming,” she joked. “But I should have done it years ago.” She learned a great piece of advice in the transition process. Before going into her first client meeting, she and her colleague held a dry run to practice.

His advice? “Let your personality come out.”

Volpe is grateful for this wisdom – as well as the collective role models and mentors she has encountered over the years and especially at Citi. “There are a lot of people who have supported me… I’m truly grateful for that.”

Looking Forward Personally and Professionally

Volpe has also found value in Citi’s The Women’s Council, which provides business information, guidance, training, and mentoring for women at all levels at Citi. In her spare time, she enjoys spending time in the outdoors – mountain biking, hiking, and kayaking, cross country skiing, snowshoeing. “I take the weekends to be outside and doing things,” she said. In fact, “I finally just conceded to get a TV again after 4 years.”

A member of the Returned Peace Corps Volunteers, NYSSA, and CFA Institute, Volpe says that looking forward, “I will likely be a Citi banker for the rest of my life as I really love what I do. However, don’t be surprised that you may one day find me back in my Sri Lankan village. In either case I will have the opportunity to live in the global sphere”