Voice of Experience: Christina Minnis, Managing Director in Healthcare M&A Investment Banking, Goldman Sachs

Christina Minnis says that upon graduating from Yale in 1987, she had no real experience in the financial services industry and absolutely no Wall Street experience. “I was an intern at a bank and that was the extent of it,” Minnis said.

She obtained her Master of Management degree from the Kellogg School of Management at Northwestern University in 1991 before forging her career with Goldman Sachs beginning in 1998, where she began as a vice president in the Investment Banking Division (IBD), focusing on leveraged finance deals primarily for the financial sponsors group. In 2001, Minnis joined the Fixed Income Division as part of Capital Markets and focused on industrials followed by healthcare. She was named managing director in 2004 and partner in 2008.

Today, Minnis is co-head of Goldman Sachs’ Healthcare Group in the Americas and head of the Healthcare Leveraged Finance Group and the Pension Strategies Group. She serves as a member of the IBD Operating Committee, and the Global Recruiting Council, while also co-heading global recruiting for IBD and serving as the chair of diversity for IBD.

Healthcare: A Thriving Industry

Of her many achievements, it is her work in the Healthcare Group that Minnis is most proud of.

“I’m incredibly proud of what we have built in our Leveraged Finance healthcare franchise. When we started, the healthcare leveraged finance revenue was less than $10 million and the team consisted of myself and an analyst,” Minnis said. “Now we’ve built our team up to seven people, and we’re fully integrated into banking. It’s been an amazing collaboration and a terrific accomplishment.”

It’s an interesting and exciting time to be working in healthcare from the perspective of the investment banking industry. The Affordable Care Act has created a great deal of change, and though Minnis says there are many challenges, there are also “great opportunities.”

“So many people choose the healthcare field because they want to add good to the world by developing useful technology and helping the quality of care. This is a dynamic time in history for this industry and though the role I play in investment banking is very different, it’s exciting to be a part of it,” Minnis said.

The People Part

Minnis says that many coming into the investment banking industry are unaware how crucial good client skills are.

“A big part of what we do is convincing clients to trust us. I’ve noticed that this isn’t something that’s well understood by young women entering the industry. They think about the technical aspects and having the right experience – and that’s definitely important, but it’s only part of the picture,” Minnis said.

“Looking back, I didn’t anticipate how important interpersonal relationships would be either,” Minnis said. “I was very technical and strategic and it served me well, but again, there’s so much more to this work than the technical aspects. I encourage women to focus on their relationship building skills because they do come into play and they will be a major facet of their development.”

Making Your Voice Heard

Goldman Sachs has a very active network for women and Minnis serves as the chair of diversity for IBD, where it is her job to identify high-potential women for a year-long leadership development program.

“We’re very invested in providing women with the tools they need to get to the next level of their development and take the next step in their career,” Minnis said.

Minnis is quick to point out that yes, the industry is male-dominated, but it doesn’t mean women have to get lost in the shuffle. Getting ahead means making your presence known.

“Frankly, you have to get out of your comfort zone in this industry, which is full of strong personalities,” Minnis said. “Many women come out of business school unsure of how to hold their ground and that’s normal, but you have a voice and you have to make it heard. State your point of view, especially in internal meetings. It’s best to learn this sooner than later.”

By Tina Vasquez, Editor