Voice of Experience: Kimberly Wood, Senior Partner, Central Market Business Leader, Mercer Investments

By Melissa J. Anderson (New York City)

Kimberly Wood, Senior Partner and Central Market Business Leader at Mercer Investments, believes that mentoring the next generation is an important responsibility for senior leaders. She encouraged seasoned women to reach out to the next generation. “I don’t think senior women can do enough,” she said. “I think we need to do a lot more in terms of mentoring, coaching, and being a support system.”

Wood, who spent the majority of her career at in finance and asset management at Ford Motor Company before joining the burgeoning field of implemented consulting (or Outsourced CIO) at Mercer, has taken this responsibility to heart.

“When I go back to my college or do speaking engagements, I get a lot of questions. They really want to know what you’ve been through – both the women and the men actually,” she said.

Career in Asset Management

Wood began her career in finance at Ford Motor Company in Detroit, as part of the company’s college graduate program. “I held a variety of positions,” she explained. “It was a rotation culture. They wanted everyone to have a variety of positions.”

She spent the next thirteen years with the company moving from corporate finance and treasury roles into Ford’s asset management group. “I was working with Ford’s defined benefit and defined contribution plans, in asset management. And I fell in love with asset management.”

She moved to an asset management firm for a short time and then joined Mercer Investments to lead the US Implemented Consulting business, which she noted is often referred to as “Outsourced CIO.” She explained, “I had worked with a variety of Mercer people for a few years and I loved the people so I thought it would be a good fit.”

Wood took on leadership of the firm’s implemented consulting business in the United States. “It combined the best of all of my skills and I got to help Mercer with a line of business they were trying to expand.”

She continued, “I’m proud of my role in building and shaping implemented consulting. Over the course of four to five years, Mercer’s business has grown tremendously in that area. I’ve seen first hand that clients can benefit a lot from the work we do.”

Mercer recently acquired Hammond Associates, and Wood, as Central Market Business Leader, is leading the integration of the two firms’ investment businesses in St. Louis. “The group has a focus on continuous improvement. There’s such a great culture and it’s a really exciting time.” She added, “I also love the work we’re doing for higher education and charitable groups.”

Currently, the capital markets are providing plenty of excitement, Wood said. “It seems like chaos is the new normal. I continue to stay involved in the implemented consulting group and we’re helping clients stay on top of everything on their plates. We’re helping clients invest their portfolios in the chaotic capital markets, while also helping them avoid the pitfalls that are happening every day.”

Advice for Professional Women

Wood says one of the things she wishes she had realized earlier in her career was that she didn’t have to have everything figured out right away. “When I came out of grad school I thought I had to know a lot more than I did. But there’s no substitute for continued learning. You take the negatives and the positives and you learn along the way.”

“Just be patient with yourself – you will learn along the way. You don’t have to have it all figured out on the first day.”

Wood, who grew up with five brothers, suggested that women would benefit by developing more career confidence. “I think many women are too shy about going for a job or career path they want. And I’m guilty too. We tend to take ourselves out of opportunities – by saying we’re not qualified or we’re just too busy.”

“I would encourage women to have more faith and confidence in themselves. And not to be afraid to reach out for support to other successful women.”

She also views networking as critical for career growth. “I live for networking,” she said with a laugh. “It’s my source of support, confidence, friendship, professional advice… a number of opportunities I’ve pursued throughout my career have come from conversations I had with people months earlier.”

“I’ve had a number of opportunities to connect people of similar interests,” she continued. “My best advice is to seek out groups within the organization and those that exist more broadly,” she said. Wood is involved in several groups like the Women Investment Professionals group in Chicago. “I’ve met tremendous friends through these groups, and they continue to be part of my support system.”

She added, “But at the end of the day, a group is what you make of it. If you just attend one meeting per quarter it’s not as useful.”

In Her Personal Time

“A lot of women, myself included, try to take everything on. Balance never means you’ll achieve a perfect equilibrium every day, but in the long term the equation has to make sense. It’s like a wave,” Wood explained. In her personal time, she enjoys traveling and spending time with her husband and his kids. “We also just adopted a new puppy, which is taking up a lot of our time right now!” she added.