Poker: Not Just For The Boys Anymore

In the return of The Glass Hammer’s Intrepid Women series, we sent our own Kathryn Nilsson Reichert to learn how to play poker well enough to beat the gentlemen at their own game. Here, she describes the results…

564143766_45929e0bc2_m.jpgCard games were never interesting to me. In fact, aside from an occasional game of solitaire while traveling, the last time I remember playing cards was a game of “go fish” with my grandmother when I was in junior high school. I have never owned a deck of cards nor felt the need to buy one.

Naturally, I was less than enthused when a girlfriend called me recently and said, “Come with me to a women’s poker party tomorrow night!” My first thought was, why? It’s cold outside and it’s already been a long week at work. Besides, thinking about poker conjured up images of men in cheap suits in Vegas casinos hunched over tables for hours, slowly burning through wads of cash. “Don’t be a wet blanket,” my friend said. “Poker is the ‘game du jour.’ We can learn how to play and do some quality business networking at the same time.”

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Voice of Experience: Wanda Wallace, CEO of Leadership Forum, Inc.

wanda_wallace_mg_0020_higherrez.jpgWanda Wallace, Ph.D. is President and CEO of Leadership Forum, Inc. The firm specializes in working with organizations to enhance corporate capability in leadership including strategic thought, customer insight, people and inclusive cultures.

Dr. Wallace has worked with many firms in the financial arena, including Citigroup, Deutsche Bank, Goldman Sachs, Merrill Lynch, Ernst and Young, and PricewaterhouseCoopers.

Prior to founding Leadership Forum, Inc, Dr. Wallace was Executive Vice President of Duke Corporate Education, Inc, which she helped found after her tenure as Associate Dean of Executive Education and professor of marketing at The Fuqua School of Business at Duke University.

What prompted you to use your psychology background in the financial arena?

I believe the best strategies succeed or fail based on engaging hearts and minds in the opportunities and the requirements for success. To do so, one must understand people – how they think, how they react, how they make sense of their world, what communication style is best, and so forth. To me, this is the essence of what I bring from my psychology background.

Five years ago, the financial world was interested in high quality coaching, strategic planning and teamwork development. They still are, but in the last year there has been an increasing focus on improving the ability to manage people in a business where numbers count for everything. As an industry, I see financial professionals placing an increased emphasis on retaining the great talent they worked so hard to recruit. Improving retention requires improving management practices. Even in diversity efforts, which are critical for financial services firms, better management practices increase the chances of developing and retaining diverse talent.

What I enjoy most is the ability to go into an organization, identify and clarify the issues and present solutions, using training and development activities and/or coaching.

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Voice of Experience: Linda Descano, COO of Citi’s Women & Co

businesswomen.jpgFor our Voices of Experience series, The Glass Hammer interviewed Linda Descano and asked her about her experience in financial services and her advice for young women in finance.

Linda Descano, CFA, is President and Chief Operating Officer of Women & Co., a division of Citi that provides women with educational resources for navigating life transitions and planning their financial future. Prior to joining Women & Co. in 2003, Linda was a Director and Portfolio Manager in Citi’s Private Portfolio Group, where she co-managed customized investment portfolios for individuals and institutions and oversaw the firm’s socially responsible investment program. Before that, she served as Senior Vice President and Director of Environmental Affairs for Salomon Inc., which she joined in 1994 Linda holds a B.A. from Temple University in geology.

Linda is also a sought-after public speaker. She has spoken on personal finance and investment topics at major conferences for the U.S. Environmental Protection Agency (EPA), United Nations Development Program, Environmental Bankers Association, and Cambridge University, among others. For two years, Linda chaired the steering committee of the United Nations Financial Institutions Initiative on the Environment. She has received a Human Rights Leadership Award from Church Women United and an Environmental Leadership Award from the United Nations Environment Program, North America. She is a member of the New York Society of Security Analysts, Financial Communications Society, Corporate Advisory Council of the Center for Environmental Leadership in Business, and the Financial Literacy Committee of Dress for Success in New York.

In honor of her grandmothers, Nina Gaspari Pennachietti and Anna Fortunato Descano, Linda recently endowed the National Organization of Italian American Women with the Nina Anna Scholarship, a needs-based scholarship for an Italian-American woman pursuing higher education.

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Top African American Women in Business …Other than Oprah

When you think of successful African American women, unless you have been living in a media-free cave for the last 20 years, Oprah springs to mind. While we acknowledge and admire the accomplishments of the talk show host, media mogul and self-made billionaire, it’s a shame that many of us are not equally familiar with other black women who have made a big impact on the world of business. Here we briefly profile ten fantastically accomplished African American women in finance and business. If you don’t know their names yet, you should!

  1. Ursula Burns, President of Xerox. As a Fortune 500 company, Xerox has a great track record of promoting women executives to the highest management positions. Next in line after CEO Anne Mulcahy, Burns has driven efforts to improve the line of products offered by Xerox and supported R&D of new technologies, including Xerox’s new emulsion aggregate toner plant in upstate New York. Under her leadership, Xerox grew by 20% in 2007. Burns was named to her position in April 2007, and also holds a seat on the Board of Directors. Burns joined Xerox as a summer intern in 1980, and worked her way up at Xerox after obtaining a B.S. from Polytechnic Institute of New York and a Master’s in Engineering from Columbia. She also serves on the boards of American Express Corp., Boston Scientific Corp., CASA – The National Center on Addiction and Substance Abuse at Columbia University, National Academy Foundation, National Association of Manufacturers, and the University of Rochester.
  2. Susan Chapman, Global Head of Operations, Citigroup Realty Services. Chapman manages the day-today operations for Citigroup Realty in 96 countries. She holds the No. 2 spot in the business unit, and is responsible for overseeing mergers and acquisitions, retail branch development, real estate administration, strategic projects and global business relationship management.Chapman sits on the Dean’s Advisory Board for the University of Wisconsin-Madison School of Business, where she received her MBA in 1998. She was named to Black Enterprise magazine’s Hot List for up and coming businesspeople under 40.
  3. Edith Cooper, Head of North American Hedge Fund Distribution, Fixed Income, Currencies & Commodities, Goldman Sachs. Cooper was promoted to managing director in 1998, after only 2 years at Goldman Sachs, and made partner in 2000. In London, she co-led the company’s commodity business for Europe and Asia, and in 2004, she co-headed the company’s global clearing and execution in the equity division. Cooper headed the company’s global futures business before rising to her current position. Before working at Goldman, Cooper worked at Banker’s Trust. Cooper graduated from Harvard College and received her MBA from Northwestern’s Kellogg School of Business. Read more
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Movers and Shakers: East Coast Round-Up

The summer may be the time when things tend to slow down, but for women in the top industries, things have been heating up. Here are some of the women who’ve recently made their way along the executive path:

Financial Services

Suzanne B. Schiavelli was hired as a principal in specialty finance to Bank of America. The only woman in this class of nine new hires, she will serve as a senior member of the equity research platform at Bank of America. According to the Bank of America announcement, Ms. Schiavelli joins from Morgan Stanley where she most recently covered emerging specialty finance stocks. Prior to Morgan Stanley, she worked as an investment banker in the financial institutions group at Lehman Brothers. Ms. Schiavelli received a bachelor of arts in economics from Providence College and a master’s degree in business administration from The Stern School at NYU.

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Voices of Experience: Dorothy Price Hill

For our Voices of Experience series, The Glass Hammer interviewed Dorothy Price Hill and asked her about her experience in private equity and her advice for young women in finance who might be interested in pursuing a similar career path.

Ms. Hill is the Director of Investor Relations and Business Development at a New York-based private equity investment firm specializing in buyouts and buildups of business services companies at the lower end of the U.S. middle market. She has a 14-year record of accomplishment in alternative investments and investment banking, including experience in private equity, hedge funds, risk management, investor relations and capital markets.

Prior to her current role, Dorothy worked for Capital Dynamics, Deutsche Bank, McKinsey, Siemens and the Council on Foreign Relations. In the 1990’s, she spent six years overseas with Goldman Sachs during the firm’s major international expansion and completed assignments in Japan, Hong Kong, Germany, Switzerland, the UK and France working with corporate and high net worth clients.

Ms. Hill holds an M.B.A degree from the NYU’s Stern School of Business and a B.A. from Dartmouth College. She is a guest lecturer at the Stern School of Business; serves as co-head of the New York City chapter of 85 Broads, the Goldman Sachs alumnae network and does annual fundraising for Mt. Sinai Hospital’s Neo-Natal Intensive Care Unit, among other organizations.

How did you get started in financial services?

I became interested in financial services after meeting several financial-firm CEOs in my first post-college job at the Council on Foreign Relations in New York City. There, I had the opportunity to work with Fortune 500 CEOs, leaders of non-profit organizations, and other world leaders and prominent academics.

Please tell us how a past success – or failure – has helped you learn and grow.

While I’ve been lucky to work for some great firms in positions of increasing responsibility, my career path has not always been smooth. I once worked for an organization led by a highly-experienced financial professional who was borderline abusive to his colleagues, and while it wasn’t fun, it was a tremendous learning experience. I learned a lot about the psychology of working with others and what does, and does not, work in terms of motivating colleagues and teams.”

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Are Men Threatened by Your Success? Come to Washington, D.C.

Contributed by Sally Lee

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This piece is in response to “The H-Bomb,” an article by Erin Abrams which was published on The Glass Hammer a few months ago. The basic argument of the piece was that smart, successful women with high-powered and high-earning jobs (in this case, graduates of Harvard Law School), had a hard time meeting men who were not threatened or intimidated by their professional status and income (hence, the H-Bomb).

To those women in New York and other large cities who have felt it necessary to apologize for their hard-earned success because of the insecure men that they encounter, I have a suggestion. Move to Washington D.C., a city where there are plenty of men who actually like and even expect a woman to be educated, successful, and have lots of money. It seems, at least according to an unscientific poll conducted by this observer and her female friends, that there are plenty of men on the D.C. dating market who have visions of quitting their jobs, being provided with a weekly allowance, and having all the time in the world to play golf!

Honestly, not all men are like that in D.C., but there are some sad yet funny stories to share regarding the dating woes of women in our nation’s capital regarding these types of men. For example, I once dated a guy who said to me, “If I quit my job for six months and try to find myself, you’d be able to support me, right?” I wasn’t sure if he was serious, particularly because we were on a third date, so I replied, “I don’t understand the question.” He answered in an exasperated tone, “You know what I mean. If I decide that this job isn’t for me, you’d be able to take care of me until I found something else, because you make enough money, right?”

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Craft to Heal:Taking Time Out to Pursue a Hobby Can Have Benefits for Your Body and Soul

Contributed by Nancy Monson

Time heals all wounds. But until time kicks in, what do you do while you’re waiting? How do you relieve stress and decompress from everyday pressures? How do you ease the pain, distract your mind, soothe your soul? If you’re like me (and a whole lot of celebrities, it seems), you craft.

I’ve been a crafter for as long as I can remember. I quilt. I sew. I collage. I paint. I make wreaths. I design note cards. I love to create something out of nothing and put my personal stamp on it. I love the process, and I love the product. The creative arts, my crafts, keep my hands, heart and mind busy, and sometimes I think they’re the only things that keep me sane. And I’m not alone. In fact, the creative arts have historically been used as unique forms of expression, communication and release. Now, in the twenty-first century, these arts have been elevated from mere crafts to important components of healing therapies for people with illnesses, both physical and psychological. Patients with cancer, for instance, are encouraged to paint, to visualize their bodies fighting off malignant cells and to pour their thoughts and emotions into journals.
But the best news is that you don’t have to be ill to benefit.

“We’re now finding that crafts are beneficial for healthy people, too,” says Gail McMeekin, M.S.W., author of the inspiring books The 12 Secrets of Highly Creative Women and The Power of Positive Choices. “Thanks to their ability to tune you into yourself and your feelings, crafts clearly have physical, psychological and spiritual powers.” Adds Diane Ericson, a California fabric artist, teacher and pattern designer, “Crafts are a way of valuing yourself and giving to yourself. They allow you to express what’s inside.”

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Blowing Off Steam with Yoga

Is work making you want to punch someone? I found a cure to release the office- related stress and help your head from exploding…it’s called Bikram Yoga. After the very first class, I felt ready to take on the world.

I went through a phase where I was at the gym every day, even on Sunday. I discovered the benefits of exercise during the break-up of my first serious relationship. I found an activity that could help me release all that pent-up energy. I became addicted to that one hour of me time…and there was that business about losing weight.

The hour I spent at the gym stayed constant as I switched jobs and found a new boyfriend. I bought the latest issue of People or Us Weekly, climbed on to the treadmill and worked my worries away.

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Passions, Part 1: Skydiving

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skydiver.jpegThis new series of articles, called “Passions,” is not a cheesy soap opera on day-time television. Rather, it explores what young successful professional women do when they are not working, and sheds some light on the hobbies and interests that they are passionate about.

Think that only a crazy person would jump out of an airplane at 13,500 feet and free fall towards the ground before your parachute opens? Well it might be a little crazy, but its also incredibly fun, at least according to the skydivers I talked to.

I have always been curious about skydiving, as I’m a pretty adventurous person and it seems like the last frontier in extreme sports. I’ve tried bungee jumping, hang gliding and parasailing, but something about skydiving whispers in my ear, “that stuff is all for wimps! Try jumping out of a plane!” I have tried to sign up for skydiving lessons in various countries and at different times in my life, but somehow, it hasn’t happened yet.

Then, I had dinner with my friend Joanna, who had just been skydiving the week before. She has been twice, and completely loved the experience. “It’s the rush of a lifetime,” she said excitedly. “It’s the closest you will ever get to flying.” She describes the experience of jumping out of a plane as both terrifying and incredible, and says that she would go back tomorrow if she didn’t have to go to work.

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