Voice of Experience Ay Wen Lie, Partner M&A Advisory PwC Singapore

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Voice of Experience Ay Wen Lie, Partner M&A Advisory PwC Singapore (F)Ay Wen Lie began her career with KLM Airlines as a business manager working on restructuring and growing the business via joint ventures and mergers.

KLM had a joint venture with Northwest and was considering the option to merge with the airline Alitalia.

However, the merger with Alitalia did not go ahead and instead of growing the business, the focus shifted to cost savings and selling off non-core businesses. After a few years of continuous downsizing, she wanted to turn her attention to the act of building something, focusing on business growth and exploring her entrepreneurial capabilities. She started her own company together with her sister, focusing on interior lighting with products made from natural materials and the use of traditional handcraft in modern designs.

For several years, they built the business, refining the concept and expanding the business, primarily through selling B2B at trade shows. Although it was challenging, she appreciated the sense of control and excitement of building something from scratch. However, in a small company, at some point the business cycle remains the same — constant travelling in search of new producers, developing new products, quality control, tradeshows, shipping and designing new products. She decided it was time to turn to something new, where she could develop new skills and explore other opportunities with more variety. That’s when she joined PwC in the Netherlands.

“Even though the company was doing well I wanted to see what else was out there” Lie says.

“I didn’t see new opportunities for my personal development that I could get excited about. My sister, who loves creating new designs understood, and she has continued the business together with her husband”.

Although she grew up in the Netherlands, her family is Chinese-Indonesian and it had always been her ambition to live abroad with her husband and children. After a few years at PwC Netherlands, they offered her an international assignment opportunity abroad: The United States, China or Singapore.

Location, Location, Location

The couple chose Singapore because of its location as the central hub in South East Asia that was close to family, the opportunities that came with a booming Asian economy, and the fact that Singapore is one of the world’s leading financial centers.

The relocation to PwC Singapore also offered Lie the unique opportunity to build a Mergers & Acquisitions Operations practice for PwC Singapore’s Financial Services Industry Practice. “This was a great opportunity and I really enjoyed the challenge,” she says.

After three years, Lie decided to make her move to PwC Singapore permanent. “There was still such great opportunity to grow the practice further, and I was so proud of what we had built – it would have been hard to let go.”

PwC Singapore acts as a center of excellence in many areas for the region, as many international companies base their regional headquarters in Singapore, and the firm had invested early in developing a strong deals practice. The result is one of the most advanced deals practices in the region, supporting clients along all aspects of the deal continuum. “Singapore remains a very exciting location to me as we continue to develop our deals practice,” comments Lie.

Succeeding by Making Clear Choices

She says one of her biggest learnings has been to not be afraid of making choices and being clear about what you want, what you believe in and what you stand for. “There were lots of things I was interested in, and I wasn’t sure what to focus on; I was always hedging my bets. Only when I started to make choices, and others could see what I was about, did it all came together,” Lie states.

She had what she calls her “breakthrough moment” on the wisdom of this philosophy when the company she was running made a clear choice that they should focus only on their own products. “It was a scary moment taking out half of the product line up, but all of a sudden we were being courted by top magazines. It was clear what we stood for and believed in.”

She encountered the same when she moved to PwC Singapore. In the beginning she took on a lot of different things, trying to be useful to everyone. She found, however, that by doing that you don’t stand out, as it is not clear to others what you are really good at and passionate about, and therefore where you can add most value. She had to figure out what she wanted to do and build her own personal brand. “Don’t be afraid to make choices, play to your strengths and focus your energy on where you can best add value,” she says.

An Exciting Industry

At work these days, Lie finds her position constantly evolving as she supports clients with their regional integrations and/or divestments. She appreciates that these programs give her a view into a company’s whole ecosystem, addressing strategic, tactical and operational issues. It is a challenge creating a new business under tight timelines, with lots of uncertainty, bringing people and businesses together and motivating them to buy into a new future. It is often difficult for people to let go of what they have been part of for many years.

“I enjoy thinking through the complexities with a diverse range of people, finding the best solutions given the circumstances and keeping an eye out for what this means in the long run.”

She says it’s an exciting time to be in the financial services industry as a whole. “It’s crucial to have a stable financial system, and yet so much is happening. There is uncertainty in the markets, and regulators are constantly implementing new regulations which make it difficult for banks to be agile and focus on client needs. There is a lot of competition and cost pressure. On top of all that, blockchain or more general fintech will rapidly change the traditional operating models.”

She has been a member of the board of the Association of Dutch Business People in Singapore and also participates in the ‘Women in Finance’ Network which brings together women (and men) from all the industry layers and fosters networking.

A Family Affair

With two children, ages 9 and 11, Lie loves to spend time watching their sports, but also being active together — hiking, skiing or riding horses. “Outdoor sports allow you to be connected with yourselves, each other and nature.”

She believes for women to successfully combine family and career a lot depends on a woman’s partner. “In my experience it’s important to discuss and agree with your partner what both your ambitions in life are. What do you want to achieve; what kind of family life do you want; and how do you want to raise your children?”

While circumstances can change and priorities will shift, couples should reach an understanding of what is important to each and discuss how they can achieve that together, by supporting one other’s ambitions and accepting and acknowledging what the impact will be in terms of lifestyle or timing of career choices.

“Sometimes that means taking a step back in one area to move forward in another,” Lie says, “and this goes both ways between partners.”

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Spotlight on Asia: Gender Diversity is Both Catching Up and Leading

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By Aimee Hansen

During the month of August, The Glass Hammer will be focusing on Asia, featuring profiles of senior level women who are showing up to challenge the gender gap in Asia with their own journeys to leadership.

Here, we take a wider look at gender dynamics in business in Asia, where the picture painted is both paradox and progress. When it comes to women representation in business leadership, Asia is at once behind and ahead. For all the societal factors holding women back, marketplace and cultural dynamics are also pulling women into leadership and the C-Suite.

Behind in The Boardroom

A recent Korn Ferry Diversity Scorecard study tracked board composition in the largest 100 publicly listed companies in ten Asia Pacific economies, and found that on average 10.2% of board members in Asia Pacific are women (9.2% if exclude Australia), compared to the United Kingdom (26.1%), the European Union (20.8%) and the United States (18.7%).

All-male boards in Asia Pacific decreased significantly from 53.2% (2012) to 39.0% (2014), but it will take ten years of growth at current pace to be on par with benchmark Western economies.

From the perspective of boardroom representation, Asia is behind, and gender gaps are often costly. The World Economic Forum has reported that failing to rectify the gender gap in the workforce costs Asia $42 to $47 billion a year.

On the other hand, bringing women into the boardroom is financially advantageous. The Korn Ferry study found that Asia Pacific companies with at least 10% female board members delivered a return on equity (ROE) of 14.9% compared to 12.6% for those with fewer or none.

When it comes to boardroom gaps, the gap is often attributed to a limited supply of top level candidates related to inequality in access to education (eg. rural China), lower wages, infant survival rates, and sweeping societal disadvantages for girls and women. According to female leaders in China, this includes being seen as the sole caretakers and the deeply ingrained belief in the Asia psyche that women are used to “taking instructions,” especially in countries like Japan.

Korn Ferry’s report stated, “Beyond the statistical gap, we also observed that Asian boards seem to adopt a more systemic and collective ‘blindness’ to the value of diversity based on a more traditional patriarchal approach. Without a fundamental change in attitude, the diversity agenda will continue to be hampered and discourage qualified women at the leadership and board level.”

Leading at Executive Level

Here’s the paradox. When it comes to executive leadership, the picture reverses, and female representation is ahead in many countries in Asia.

A 2014 global study by Grant Thornton showed that the proportion of women in senior management was much greater in China (38%) and Indonesia (41%) as well as Southeast Asia, than in the US (22%) and European markets like the UK (20%) and Germany (14%).

According to Fortune, “though 126 of the top 300 companies in China lacked female board members (42%), only 31 of those companies lacked a female senior executive (10.3%)” in early 2015.

An IRC study found that as a percentage of total CEOS, Asia and Australia have more women CEOs (11.8%) than Europe and Americas (7.8%), and one study has shown that China has a greater proportion of female CEOS than the US. China has the most female self-made billionaires in the world. Looking at China alone, boardroom representation is 12.9%.

Women are not represented at executive level in all countries or business areas. For example, India has only 14% women executives, and Japan has only 9% (as well as only 3.3% boardroom representation).

When it comes to finance, Oliver Wyman found that 13% of execs and 14% of board members in finance are women in Asia, compared to 21% and 23% respectively in North America, and 16% and 24% in Europe.

But there is an increasing women executive presence in Asia. Even when the boardroom is considered, the recent two year momentum in getting at least one women on boards is impressive when compared to pithy gender diversity advancement on boards in the US.

Momentum towards Leadership

Many factors are allowing women to advance into management in Asia.

In Southeast Asia, 35% of senior executive positions are held by women. The Grant Thornton report states that free, in-built childcare as a result of tight-knit family units is partly responsible.

In China, radical urbanization and increased opportunities to further education have empowered women, while the defunct one-child policy has encouraged access to education for girls and entry into the workforce. The ratio of females to males in tertiary education is now at a 111 index in China and 107 in East Asia.

One of the most powerful factors in women’s advancement is rapid economic development of the private sector.

A study out of the Chinese University of Hong Kong Business found a direct correlation between emerging private companies and increasing recruitment of women and hiring women as CEOs.

During a nine year tracking period from 2000-2008, the researchers found that women CEO participation rose from 4% to over 8% in the private sector, increasing over time and at a faster rate, while remaining flat in state-controlled firms.

The researchers compared the marketplace to government initiatives in driving change: “Studies have shown that competitive forces are generally more effective in bringing women managers into companies, because market mechanisms may be better at identifying and rewarding strong performers. When you face competition, you have to remove bias and focus more on bottom-line issues.”

The researchers speculated that competition may be driving a more gender-neutral approach to top management, making traditional networks less relevant and leadership skills more appreciated in private firms.

“As the Chinese economy becomes more balanced in terms of state-owned and private firms, and as state-owned enterprise reforms deepen, more and more female business leaders are likely to emerge,” stated the researchers.

Looking Ahead

With a wider pool of women in executive roles in Asia, it seems the case that boards lack top-level talent to choose from has an expiration date.

The underlying psyche of inequality will need to catch up with a changing reality in Asia, and boards will need to mix up their selection process.

While the market and changing cultural dynamics may be putting women into leadership, the next step are seats in the boardroom, while more fundamental inequalities still seek to be addressed in many regions including rural China and countries like India and Japan.

But changes are happening. Increased boardroom representation in Australia, India, and Malaysia were aided by government initiatives, while pressure in Japan has been increasing the presence of female directors.

According to the FT, some prestigious business schools in Hong Kong and China are looking at how to move advanced education from gender blind to gender sensitive, exploring options such as early-career masters programs that gain more female enrollment. Research shows that 72% of women graduates in China hope to become C-level executives.

Over the next few years, we stand to witness a fascinating phenomenon in gender equality where Asia is both catching up…and leading.

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Life Hacks: Apps to Make your Life Easier for the busy professional woman

smartphonesToday there are applications (apps) for nearly everything imaginable: apps for work; apps to inspire, organize and motivate, and apps to simply waste time.

Today is also a time where the demands on our time are greater than ever. So how do we make the apps work for us as professional women, to give us that extra time we all seem to need at work and at home? Can apps be the key to the work-life balance issue? Are there career opportunities for women to develop more apps based on their own needs?

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Can You See A Promotional Path At Work? Leaving To Go Up The Ladder

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Woman-on-a-ladder-searchingBy Nicki Gilmour, Executive Coach and Organizational Psychologist

This summer we have talked about the scenarios that tend to create catalysts for talented people to seek out career coaches to help them navigate the promotional pathway which sometimes means leaving your current team or firm.

When I am coaching, I often hear that my client does not see a clear promotional path and this can be due to many elements but it always involves politics and people.

Sometimes the lack of vision to what the next internal move is is simply due to rigid corporate structures and a perceived lack of places to be promoted into. The old adages “Dead Men’s Shoes” or “Not enough pie to go around” are often mentioned here. Sometimes that is true, but sometimes you need to realize that space will be made for the “right” people. (* the phrase right people could be a whole article in itself, but that is for another day later this summer on unconscious bias, keep reading this column.)

In other instances, what companies sometimes do not grasp is that ambition does vary person to person but having systemic grind due to bad organizational development creates a pebble in everyone’ shoes that simply de-motivates even the most focused players over time. Can this be addressed? Yes. Is it usually addressed in firms? No. Sadly, due to the slightly invisible nature of company and team culture, the average manager cannot start to solve these issues.

Sometimes wanting to leave is about an individual manager or team member, but proper organizational development work can eliminate many of the bad behaviors that can be practiced by less than desirable coworkers. Bad behaviors appear when survivalism is the culture so some of these same folks might be quite nice colleagues in a different environment. Lewin’s theory suggests that behavior is a function of personality PLUS environment, or in other words, the perfect storm can occur in any firm for hellish behaviors to become commonplace.

Either way, it really is about leaving to get a promotion and work in a better culture.

Culture is “how we do things around here” and that is why we coach here at the glasshammer as we think we have the secret weapon for our coachees- we focus on you the individual but we understand the organizational structures and cultural markers so that we can help you pick the right firm and the right opportunity as your next promotion is everything! Call us for 8 sessions (over 18 months) for an introductory price of $2500 and watch your career take off.

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Voice of Experience: Marina Lui, Regional Market Manager for the China International Team UBS

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Marina LuiMarina Lui believes a strong team brings success, and that companies need to create an atmosphere that will attract and retain those solid performers.

As one of the early immigrants to Hong Kong from China, Lui says she appreciated the opportunity to receive the education that she did, both in Hong Kong and then attending the University of Texas at Austin in the United States.

She began her career as a branch manager in consumer banking, but wasn’t sure she was cut out for managing – ironic, given her current success in that arena. She joined UBS in 1995 as a client-facing relationship manager, spending 10 years covering the Hong Kong domestic market, and then once again moving into managerial positions.

At the time, the Hong Kong domestic market was quite established so she appreciated the opportunity she was given in 2011 when she was appointed as one of the team heads serving ultra-high worth clients in China and Taiwan. That allowed her to work in a sophisticated new market with a team of 50 experienced staff.

Soon she honed her focus solely on China, where she became regional market manager for the China International Team with a staff of 150. “I was very proud of being named regional market manager and subsequently building the team. In less than two years we have doubled the size of the business.”

Winning Because of the Team

Lui credits her team with that feat, but much of the acknowledgement surely should be given to her leadership style. “I want to be the team of choice and feel I have achieved that goal with the high morale we have. I want my team to be proud of what they do, and know that they have collectively contributed to our accomplishments,” she says.

Not only is she focused on success, but on developing the next generation of leaders. She admits it’s challenging sometimes when you can’t see quick results since talent development is a long process. However, she enjoys the role she plays in nurturing employees to help support the success of the firm.

Changing Demographics Mean A Changing Industry

The industry is currently in the midst of wealth transfer from one generation to another, and they need to accommodate the different way that the next generation thinks. Since many of her relationship managers are relatively young, they are in a position to relate to, and therefore confidently meet, the needs of this next generation.

And the changing demographics brings internal challenges as well, as companies grapple with providing employees with the diverse experiences they increasingly seek. “We have to question whether employees who are in their late 20s will want to work for the bank for 20 years, given their mindset that they don’t want to be in one place too long.” She says that they are addressing that through encouraging millennial employees to seek additional opportunities in other divisions of the bank, so they can have those varied experiences without leaving.

Growing the Next Generation of Leaders

Younger employees today also have the benefit of being able to research an industry before they join, and she encourages them to do their homework, to find out what exactly a banking position entails and confirm that it suits their interests and skills. But, it also has to be something they enjoy.

“When you join an industry or company, you have to be passionate or you won’t last long,” she says. She advises them to trust their gut feeling when determining a career path, but then to realize that success may be delayed. “The younger generation tends to want immediate gratification but often you have to be patient as you climb the ladder. Learn what you need to know on each rung.”
She encourages wealth management as an industry where women can be particularly successful, because it’s a people business, and women naturally exhibit interpersonal skills that allow them to excel at networking and building relationships with clients.

Within UBS, Lui is involved in the Global Key Talent Program, which helps develop high-performing talent. The group brings together emerging professionals and senior leaders to encourage mentoring and exposure. “It’s important to offer this opportunity for younger professionals to engage with senior leadership, both men and women, and show their capabilities.”

She also is involved with a group called “Half the Sky” that helps the bank better understand the needs of female clients who are becoming a larger part of their portfolio, as entrepreneurs and decision makers.

Work/Life Balance as an Imperative

Lui counsels her peers that it’s important to leave your stress at work and develop a healthy work/life balance that allows you to perform and focus better on the job. For her, exercise is a stress reliever, but she encourages women to find what works for them.

She loves traveling and spending time with her family but also believes in the importance of giving back through philanthropy. Two causes she is particularly passionate about are elder care and children. Recently she instigated a team project where they visited the elderly. “We need them to know they are important and not forgotten.” On the other end of the spectrum, she is involved with the group “Pencil of Promise,” which is working to build schools in Laos.

“I know that I am fortunate to work in the banking industry and make a good living compared to many families who struggle on a daily basis. We all need to make giving a part of our lives, to remember to reach out and support those in need. “

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Gender diversity – lessons from the UK boardroom for 2016

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BoardRoomBy Nneka Orji

A mere five years ago in early 2011, few of us would have looked to the UK Public Limited Company’s boardrooms as beacons of gender diversity. Female representation in FTSE 100 boardrooms was just 12.5% and although many leaders in business and politics acknowledged that something had to be done, it was not clear what or how. Five years on now in 2016 women now fill 26% of FTSE 100 board roles – just over double their representation when the Davies Review (Women on boards) was launched. If we didn’t know before, we certainly now have a better idea about what it takes to turn the dial on this opportunity.

The Davies Review proved a successful catalyst for gender diversity in UK boardrooms; with a clear target and public commitment from senior leaders to achieve at least 25% representation over the course of five years, board directors were incentivised to proactively address unconscious bias in board selection and nomination processes among a number of other obstacles female leaders face on their journey to the boardroom.

Yes there has been progress – which we should be proud of – but it’s by no means time to congratulate ourselves. While a number of organisations now have female representation of 25% or more on their boards, some industries have a way to go. As identified by the New Financial’s most recent report, UK-regulated financial services companies have more work to do – both in the boardroom where women fill 23% of roles and in executive committees where they fill only 14% of leadership roles.

The Davies review focused on listed organisations, with the aim for other non-listed organisations to adopt the recommendations, so it is no surprise that more progress has been made by UK-listed companies. Unlike the boards of listed companies, only 14% of board positions of privately held financial services companies are filled by female board directors. For those still not convinced by the widely discussed benefits by advocates of gender diversity, why not consider what board directors have experienced as a result of enhanced diversity?

Chairs and board members say this isn’t just a nice-to-have; they continue to see the value of more diverse boards in the richness of board discussions particularly when it comes to making critical decisions, and they are less likely to be hit by scandals. In the current business landscape with increasing scrutiny of boards and greater focus on the importance of business’ role in society, surely this is welcome news? From a commercial perspective it also makes sense; research conducted by the index provider MCSI found that companies with more women “delivered a 36% better return on equity since 2010 than those groups lacking board diversity”.

The US may also do well to consider some of the progress achieved in the UK. According to the recently published “2015 Catalyst Census: Women and Men Board Directors”, female representation across S&P 500 stands at just 19.9%. Of even greater concern is that the glacial pace of change is likely to continue given new directorship appointments, of which 73% were held by men and 27% by women. Deborah Gillis, CEO’s President and CEO, stated; “Our new Census shows little progress has been made at the board level, and even less progress has been made in the pipeline for women officers and directors—suggesting women are nowhere near the path to parity with men. Men continue to be overrepresented, holding more than their fair share of board seats and, in some cases, all the board seats.”

The New Financial’s report also points to exemplary countries which others should aspire to – including countries in the Nordic region, France and Germany where female representation is 34%, 29% and 27% respectively.

These reports and others point to the merits of diversity and encourage leaders – both in business and government – to take bold action. What does bold action look like?

In the UK, the government commissioned the Ghadia Review which sought to make specific recommendations for UK financial services organisations to address gender diversity at both board and executive level. The Review recommended clear targets and enhanced transparency (including the disclosure of diversity data), increased accountability across all leadership levels within organisations, and the linking of remuneration to progress against gender diversity targets. New Financial found that only 26% of the financial services organisations included in the research sample disclosed gender diversity targets – and of these only 10% disclosed gender representation at board level, and 24% setting targets with deadlines.

It’s not enough to talk about gender diversity – it’s a case of committing to specific goals and maintaining the focus required to deliver against the goals. While aspirational targets show some level of acknowledgment of the need to address gender diversity, being specific and time-bound is more likely to have the desired impact. The Ghadia Review recommends 12 data points, including gender ratio of employees promoted and the percentage of maternity, paternity and shared parental leave returnees.

Just as importantly, targets need to be stretching. One of the five recommendations in the “Davies Review Five Year Summary” was around increasing the female representation target for FTSE 350 Boards to 33% – continuing with the voluntary approach. Incremental progress will only result in the next generation having the same debates we are having today. We owe them more.

To build on the progress made to date, we must look to the next generation of aspiring board directors, the behaviours we advocate and development opportunities we provide to both women and men. According to New Financial, women are better represented (36%) in support roles, but continue to be very under-represented in the roles that serve as springboards to board positions – CEO (6%), other C-suite roles (10%), and budget owners (9%). Without losing momentum on progress being achieved in the boardroom, there is a clear need to focus on female representation at the executive level.

This doesn’t just apply to Financial Services – although particularly acute in Fintech. According to a recent Deloitte report including participants across the globe, boards of financial services organisations in the UK lead manufacturing, and energy and resources industries.

Despite what many would deem as slow progress by boards in terms of gender diversity, it turns out that we have some positive lessons to learn from boards if we are to turn the dial on female representation at executive level: specific targets, enhanced transparency, public commitment, and role modelling desired behaviours.

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Coping with hidden disabilities and conditions on the job: an invisible struggle

stressed_business-womanIn the United States, about 10% of Americans have an invisible disability – a medical condition with physical symptoms that might not be apparent to a casual observer. In fact, as many as 96% of people with chronic medical conditions do not outwardly appear to be disabled. While those with some invisible conditions may be protected from discrimination at work by the Americans with Disabilities Act, whether or not they actually receive that protection sometimes turns, unfairly, on others’ perceptions of the presence of impairment.

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Finding a New Job While Doing Your Job Well

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Is it time to change jobs, change firms or leave the industry? (F)By Nicki Gilmour, Executive Coach and Organizational Pyschologist

Last week we identified the lack of trust as a reason to leave your current job or firm and trust is everything at work just as it is at home. And a few weeks ago, we talked about how the biggest key for individual and team performance was in fact having psychological safety at work so in many respects this ties into that topic.

There might be reasons to stay and build that trust but I hesitate to give advice over the internet in this column as each case will be different and very personalized to the players and the situation.

Instead, I am going to say it straight; if trust is lacking and cannot be built then leave. Of course, the trick is to do your job well while you are securing your next ( better) role in a different team or company.

Do not “stay and quit”.

Remember, every project you do, or skill you acquire can be talked about on your resume and in your job interviews. Use the time wisely and find a firm where trust is abundant. How do you know that? Ask questions like” What gets rewarded here?”. “What gets tolerated?” and “How does the task (insert your type of tasks that you do) get done around here?”.

Best of Luck!

If you are looking for an executive coach to help you navigate your career then please contact nicki@theglasshammer.com for a no obligation conversation

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Voice of Experience: Jacqueline Arthur, Chief of Staff to the Co-heads of the Investment Management Division (IMD), Goldman Sachs

Jacqueline Arthur“Change doesn’t always happen when you expect, but it has altered my career and outlook for the better. Even when I have had second thoughts about past decisions, those have been my best learning moments. Taking risks throughout my career has made me more confident and resilient,” says Goldman Sachs’ Jacqueline Arthur.

From Law to Investment Management

Arthur attended law school at George Washington University after earning her undergraduate degree at Duke University. She began her career as a corporate attorney advising private equity (PE) clients, and five years later joined Goldman Sachs in the Investment Management Division (IMD), parlaying her PE experience into her new position.

Arthur noted that even though she was in a similar industry, she was looking at it through a different vantage point and in some ways felt like she was starting from the beginning. “When I started my career as a corporate attorney, I never would have envisioned this trajectory,” said Arthur. “I’m proud of risks I’ve taken to step out of my comfort zone. I’ve become open to trusting my instincts and leveraging my network and mentors, which has allowed me to be more confident in taking on new opportunities.”

One particularly exciting challenge was when she joined the Global Portfolio Solutions team in 2008, focusing on multi-asset class solutions for clients. “Our clients were relying on us to ensure their portfolios were in safe hands during a volatile time,” Arthur says. As part of the move, she was given the opportunity to broaden her responsibilities as the group focused on expanding its capabilities. “This was a terrific growth opportunity and gave me a chance to stretch beyond a pure client role to focus on management and strategy. While I had always enjoyed advising clients, I found that I also really loved thinking about how to grow our business and to ensure we are best positioned to serve our clients.”

When a position opened in 2011 to work with the chief operating officer of Goldman Sachs Asset Management, she says she leapt at the opportunity. Her role has grown significantly in the last several years, and she currently serves as chief of staff to the heads of IMD, where she focuses on a broad spectrum of initiatives across IMD’s businesses.

“Our clients come to us for comprehensive solutions, and one aspect of my role that I have found particularly rewarding is focusing on our efforts to tap into not only the intellectual capital of the people in IMD, but also the expertise of the rest of the firm. This is a powerful tool for clients, and one that differentiates us,” she says.

“I love the diversity of my work and the people I get to interact with across the firm. Every day I am reminded that I work with such a talented group of people.” Arthur says a priority for her is to identify junior talent who have the potential to excel at leadership roles within the firm.

Viewing Your Career With a Long-Term Perspective

Approach your career as a marathon not a sprint, Arthur advises, wisdom she received from a managing director when she first began working at Goldman Sachs.

“This mindset ensures you avoid burnout and retain resilience for speedbumps you might experience during your career,” she notes. “Staying the course and having a long-term perspective has served me well in the ups and downs of work-life balance.” Arthur, who is the mother of two young children, notes that while she was initially anxious to be out of the office for maternity leave, the culture at the firm is collaborative and team-focused, and she was able to resume her role seamlessly following her return to the office.

She appreciates that Goldman Sachs has a “mentorship culture.” Arthur serves as an advisor to the IMD Women’s Network on its community engagement efforts and has found the network to be a very impactful resource. She says she has also received terrific support from mentors and sponsors at key moments. “The relationships I’ve created at the firm and in the industry enable me to tap into resources that make me better at my job and have made my career more meaningful,” Arthur says.

“The Best Part of My Day”

Arthur looks forward every day to the moment when she returns home from work and her kids run to the door to greet her. “It can be hard to maintain a work-life balance, and before having children I couldn’t envision how I would be the mother I wanted to be.” But, she says that being a mom has made her more focused at work, and she believes working has also made her a better mom. “When I am with my children, I focus on being very present and engaged. They also love coming to work with me and asking me questions about my job.”

Her family loves traveling and Arthur thrives on seeing the world through her kids’ eyes and learning about different cultures with them. Closer to home, they appreciate the access they have to restaurants and the arts in New York City. “Having grown up in a small town, the experiences we can have locally constantly amaze me, and we really try to make the most of it as a family.”

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