Voice of Experience: Libby Cantrill, Senior Vice President, PIMCO

By Melissa J. Anderson (New York City)

“Don’t be afraid to ask and don’t be afraid of your own voice,” said Libby Cantrill, Senior Vice President at PIMCO. “A lot of times, women don’t think they deserve to be in the room, to have a seat at the table. They do.”

One of the key lessons she has learned throughout her career is the importance of asking for the career opportunities you want. “Women are often afraid to ask for things and put themselves out there. But all of the most interesting things and opportunities that I have experienced in my own career are the result of asking for them,” she said.

She continued, “The other thing I’ve learned is that no one will manage your career for you. I would advise women to be proactive and strategic when thinking about the next steps in their career advancement.”

The Intersection of Business and Politics

“I could pretend I had a defined road map from the beginning,” Cantrill said with a laugh, “but really, my career has been a combination of luck, timing, and seizing opportunities when they presented themselves.”

After graduating from Brown with a degree in economics, she joined Morgan Stanley in the Investment Banking division as an analyst, working to help technology companies with IPOs and private equity. “I lived through the tech bubble, and the fall-out was an education in itself,” she said. “But I felt that the work was pretty micro – and I had always been interested in politics.”

She took a role working on economic policy for a Colorado congresswoman in Washington, D.C. whom she had worked for in high school when the congresswoman was a state representative. “I spent a few years on the Hill working on economics, finance, and tax issues, and it was inspiring to be working for a woman for whom I had a lot of respect, and it was fascinating to be working on issues I had a lot of interest in.”

Next Cantrill went to business school at Harvard. “I was focused on combining my two experiences – finance and policy – and I thought that my next step after business school would be a place where I could think about the macro environment, and the intersection of business and politics, while getting back to the markets.”

She joined PIMCO’s institutional client group in 2007 and assumed responsibilities in her current role when Dodd Frank was being finalized in 2010. “Political issues are part of investing,” she explained. “I worked with our executive office in 2010 in creating my current job, which covers finance, politics, and helping the firm think about how policy in Washington DC affects investment management and our duty as stewards of our clients’ assets.”

Cantrill said she enjoys the access she has to PIMCO’s thought leaders, as well as the opportunity to influence the political and financial landscape. “This is what I’m most proud of: working with senior leaders at the firm and thinking about how we can best represent and protect our clients’ interests.”

“Generally I think a lot about how financial regulation will shape the industry – specifically, how it will impact our clients, how we can mitigate that impact and what opportunities it might present for our clients,” she continued.

Women in Financial Services

Cantrill believes many women are challenged by the fact that they don’t see many female leaders in the financial services. “Primarily there are not a lot of female role models in the financial world. It can be discouraging to a woman starting out in a male dominated field.”

Work life issues can also prevent women from reaching the top, she explained. “Finance can present lifestyle challenges to the people who might be primary caretakers to children who are typically women.”

Finally, she added, “And then there are unconscious biases that often play out to the detriment of women. Assumptions about women’s qualifications can be a headwind that prevents women from advancing.”

“PIMCO has been very proactive through several channels to address this and ameliorate this in general.”

Advice for Female Leaders

Cantrill said, “My advice for a professional just out of business school is to go toward the discomfort – take advantage of the opportunities that present themselves and be proactive.”

“Careers are typically long,” she continued. “Make sure your organization is in line with your values – that’s more important than the first job you may have for a year or two years after school.”

It’s important for women who have reached senior levels to reach out to younger women she said. “Mentoring for women is especially vital,” she explained. “Sometimes senior women underestimate the impact they can have on the careers of junior women. I encourage senior women to take time to take someone out for coffee – even 30 minutes can have a significant impact on a junior person’s career.”

Cantrill is a strong proponent of PIMCO’s women’s leadership network and has helped retool its mentoring program. “The first six months out of an MBA program, there is a very steep learning curve, and the program provides support during that time. Having a sounding board and just seeing a friendly face is important, but the program also makes sure we are springboarding them toward success going forward.”

Finally, when it comes to work/life issues, Cantrill continued, she advises women to choose a partner very carefully. “Oftentimes when women speak about their careers, their partner is not mentioned. But my husband is a great partner – without him, I don’t think I could do what I am doing at PIMCO,” she explained. “My advice is to try to find a partner who will truly be a partner and split things 50/50. Without that, things could be more difficult, especially if you plan to have a family.”

She added, “We just had a baby and split child care duties and who’s going to be home for the nanny. In some ways, the right partner is the most important choice both women can make and men can make.”

In Her Personal Time

After spending time in Africa in college and business school, Cantrill said she is passionate about issues facing the continent. “I’m on the board of an organization that helps to provide access to clean water throughout The Gambia as well as provides scholarships for girls in a village in The Gambia.”

She explained, “It’s a way I can be connected to that part of the world.”