Voice of Experience: Philippa Nesbit, Chief Risk Officer, Citi Private Bank and Citi Holdings

Philippa NesbitBy Melissa J. Anderson (New York City)

Reflecting on her early career, Philippa Nesbit, Chief Risk Officer at Citi Private Bank and Citi Holdings, encouraged junior women to seek out broad opportunities to learn. “Really, the important thing is getting a diversity of your knowledge base. It’s easier to learn more and get a breadth of knowledge when you are junior. When you are a managing director, it’s hard to get those different experiences. I hadn’t appreciated the importance of that 20 years ago.”

She continued, “Tied to that, make sure you grasp every opportunity. Be really flexible and adapt the ways that you work. Our junior colleagues are from a generation with lots of tools and options to manage their careers – from day one, develop and build your network every day.”

“I attribute a lot of my success to being able to call many people – to get both business perspectives and career perspectives. I will always advise people to ‘push yourself’. Put yourself out of your comfort zone and into decision making roles,” she added.

Read more

/by

Movers and Shakers: Natalie Runyon, Director, Global Security, Thomson Reuters

Natalie RunyonNatalie Runyon, Director of Global Security at Thomson Reuters, wishes she had known just how important it was to seek out leadership training and development early on in her career. Since she cannot go back in time, Runyon is doing the next best thing. She is developing female leaders through the “How to be the CEO of Your Career” program that she created and launched through the New York City Chapter of the women’s network at Thomson Reuters. Supporting the advancement of women through this program has certainly been one of the most rewarding aspects of Runyon’s career because she gets to combine her passions of leadership training and providing a resource for professional women.

Career Path

One might say that Natalie Runyon’s career path was anything but linear. Yet all of her experiences have contributed to her becoming an influential leadership strategist for women who want to change the world, in her own words. Runyon was born and raised in Louisiana, and after graduating from Louisiana State University with a degree in International Trade and Finance, she was ready to explore life outside the Pelican State. Runyon headed to Washington, D.C. to work for the CIA, an opportunity she secured the year before when working as an intern the summer before her senior year of college. Determined to find her way to Wall St. to work in the financial services industry, Runyon attended The George Washington University part-time, while working for the CIA, eventually earning her MBA.

In 2003, Runyon packed her bags for New York City to begin her career in the Global Security group at Goldman Sachs. “This was shortly after 9/11, and I had the opportunity to get in on the ground floor of the crisis management program,” said Runyon. She continued, “It was in this role that I discovered my love for training at all organizational and operational levels.” Runyon excelled at crisis management, but after a few years she began to feel the symptoms of burnout set in. “Crisis management is 24/7, and when you are working in global security, the work never stops,” she said.

Recognizing the signs of burnout, Runyon took advantage of a unique opportunity in 2008 to work on rebuilding the go to the Gulf Coast and help victims of Hurricane Katrina recover and begin to rebuild from the disaster that hit the area in 2005. “I had a personal stake in this cause,” said Runyon, “since my grandmother lost her home in the hurricane. Helping with the relief efforts also gave me the opportunity to connect with people outside of the office, which was so rewarding.”

During this time, Runyon received her Leadership Coaching Certification, which was a skill she would be able to apply effectively during her time helping the coastal communities of Louisiana get back on track and in her next endeavor. That same year, Runyon had the opportunity to visit Ghana to do humanitarian work with impoverished children. Speaking about her experience working in Africa, Runyon said, “For the first time, I understood on a much deeper level what it meant to be part of the non-dominant group.” She continued, “It was through these experiences that I learned how important it was to give people the confidence to speak up.”

With a renewed sense of purpose and an interest in how to pursue equality in the workplace through leadership development, Runyon returned to her position at Goldman Sachs. By 2011, Goldman Sachs had undergone major restructuring and Runyon’s position was eliminated after several rounds of layoffs. However, like all of the events in Runyon’s career, this bump in the road had a silver lining.

In 2012, Runyon accepted a job at Thomson Reuters in the security team. Following a series of events, Runyon quickly rose to become the most senior person in her region after 5 months on the job. Runyon was able to apply her experience in crisis management and leadership training and development to take charge.

Read more
/by

Voice of Experience: Laila Worrell, New York Metro Office Managing Director, Accenture

Laila Worrell, AccentureBy Melissa J. Anderson (New York City)

Laila Worrell, Managing Director of Accenture’s New York Metro Office, says some of the most important advice she’s received is, “when given a choice, choose on the side of generosity.”

She explained, “We all have demands on our time and resources that we must prioritize.  The advice I share often is to remember to err on the side of generosity.  If given the opportunity to support or mentor someone, view it as a privilege.”

Worrell also emphasizes the importance of building strong networks internally and externally. She noted, “Many of us feel too busy with other responsibilities, but it’s important to prioritize building and maintaining your network.  It can be an incredible resource to you throughout your life and career.”

Career Path

Currently Worrell is the leader of the company’s New York Metro Office, where she is responsible for 4,000 people in New York and New Jersey. She serves on the company’s North America leadership team and CEO Advisory Council, and she also leads the company’s work in the private equity sector.  Initially, though, Worrell didn’t anticipate a career in business.  She recalled, “I joined Accenture immediately after completing my undergraduate degree.  I had majored in liberal arts and was passionate about the academic world. I thought I would eventually return to academics.”

“However, I had an incredible experience with Accenture, and I found I was very passionate about business and helping clients solve some of their most complex business problems,” she continued.  She enrolled in Harvard Business School, graduating with her MBA in 1998.  After several years leading strategy and corporate development for a major media company, she had the opportunity to rejoin Accenture, shaping the company’s growth initiatives in the North American market.

Today Worrell works with clients in the financial services industry and is also involved in the company’s initiative around skills and competitiveness. “Accenture is undertaking work to support an initiative to increase the competitiveness of the United States in the global economy, including by leveraging skills as a driver of economic growth.”

This ties into Accenture’s Skills to Succeed global corporate citizenship initiative, she continued. “One of our economy’s key growth levers is our base of skilled resources.  Accenture is committed to helping even more individuals in our communities gain the skills they need to get a job or start a business.”

The topic of competitiveness is relevant to her work with financial services clients as well. “I spend a lot of time with our clients in the financial services sector. We’re going through an unprecedented period of change in financial services. There is an enormous amount of competitive pressure. The question is how can institutions continue to innovate, transform, and compete in a rapidly evolving environment. It’s fascinating working with our clients on these issues.”

Worrell says the part of her career that has been the most rewarding is helping others advance in their own careers. “When I’ve helped people build confidence to fulfill their potential, to see what’s possible, these are the types of achievements I’ve found rewarding, absolutely.”

Read more

/by

Voice of Experience: Natalie Trunow, Senior Vice President and Chief Investment Officer, Equities, Calvert Investments

Natalie Trunow, Calvert InvestmentsBy Melissa J. Anderson (New York City)

According to Natalie Trunow, Senior Vice President and Chief Investment Officer, Equities, at Calvert Investments, women and other minorities in the financial services industry can turn their diverse background into a competitive advantage. She encouraged women to consider the industry as a place where their personal viewpoints can make the difference in their firm’s success.

She advised, “I would try to not be so apprehensive about entering an industry with pockets of male dominated environments. If anything, this industry seeks out differentiated viewpoints. If you look at the industry today, compared to a few decades ago, there is a conscious reach for that differentiated viewpoint. Women, minorities, and people with international backgrounds do add to the mosaic of viewpoints and perspectives. In this globally competitive environment, firms are trying to add to that.”

She also encouraged women not to shy away from a big career in the financial services because of perceived work life challenges. “It can be done – you can have a family, be successful, and be competitive. If anything, perhaps you have an advantage because you’re part of a group that can add a differentiated viewpoint to the decision making process and help your organization succeed.”

Read more

/by

Voice of Experience: Heidi Levine, Co-Managing Partner, New York Office, DLA Piper

By Melissa J. Anderson (New York City)
Heidi Levine
“My advice for young female lawyers is to concentrate on doing excellent work that gets noticed by senior practitioners, rather than overly focusing on managing their careers,” said Heidi Levine, Co-Managing Partner of DLA Piper’s New York office.

Levine benefited from this strategy as a senior associate, with the support of a powerful sponsor who helped advance her career. Today Levine is also a member of DLA Piper’s Executive Committee, Co-Chair of the firm’s New York Mass Torts Practice, Co-Chair of DLA Piper’s women’s initiative called LAW (Leadership Alliance for Women), Co-Managing Partner of the firm’s New York office, all in addition to a thriving litigation practice.

She added, “Always be reliable and concentrate on being the best – it will lead to great things. Keep your eyes open and seek out mentors. But don’t think you’re entitled to one – you have to earn it.”

Read more

/by

Transgender Professional Women: Authenticity and Transitioning in the Workplace

MichellleFigueiredoBy Hadley Catalano (Boston)

After a successful managerial climb at State Street, a large global financial services company in Boston, Michelle Figueiredo made the most difficult decision of her professional career. She had her first conversation with the company’s human resources department about her true identity.

“I spoke for three hours with the woman in HR,” Figueiredo, who was professionally known as Michael before she transitioned, recalled. “She said to me, ‘we have never had this happen before, we’ll work with you. We support you 100 percent.”

A similar conversation occurred a year later at the Boston office of the large multi-national law firm Edwards Wildman where Sara Schnorr had been a lawyer for 30 plus years (Edwards Wildman is the successor to Edwards Angell Palmer & Dodge). Schnorr, who was named partner at the Boston office in 1987, had made the decision in 2009, at the age of 61, to professionally acknowledge her true identity. The law firm’s senior management, having known Sara as Tom – her given birth name – as an invaluable partner, told her, “of course we’ll support you.”

These two stories of male-to-female transition (MTF) are becoming more frequent in working environments throughout the state of Massachusetts, where the state legislature and local businesses are widening their anti-discrimination clauses. A 2011 law called An Act Relative to Gender Identity prohibits discrimination in several key areas and defines gender identity as “a person’s gender-related identity, appearance or behavior, whether or not that gender-related identity, appearance or behavior is different from that traditionally associated with the person’s physiology or assigned sex at birth.”

Even before the Massachusetts legislature enacted the law and the Governor signed it effective as of July 2012, employers across the state, both locally and those with global partners, were breaking barriers through the implementation of diversity policies, including the freedom for employees to self-identify. It’s a trend that, while not federally mandated, has been included in anti-discrimination polices for many private businesses across the country.

According to the Human Rights Campaign Foundation’s 2013 Corporate Equality Index (CEI) this year has seen 54 new businesses adjust their corporate policies as they relate to LGBT employees, 42 percent of the CEI-rated employers have distinct global codes of conduct or employment standards that are inclusive of both sexual orientation and gender identity, and of those same rated employers 83 percent have a LGBT Employee Resources Group or Diversity Council (as compared to 40 Percent in 2002).

State Street, where roughly 28,000 employees are spread out over 100 geographic markets worldwide, has a similar distinct global code and Figueiredo became the company’s first transgender women to transition MTF on the job. Her journey began by first explaining her true identity to family and friends. With the encouragement of her closest supporters she inquired with her company’s human resources department and was surprised and delighted to hear about their progressive diversity policy and support of her decision.

“I wanted to tell my co-workers personally,” Figueiredo explained, noting that the pivotal point in her determination to live her life as her true self was based on a promotion to a new managerial position. “I was nervous, but I wanted them to know that I was confident and proud of who I was.”

Read more

/by

Voice of Experience: Julie Harris, Managing Director, Goldman Sachs

Julie HarrisWelcome to Pride Week on The Glass Hammer — we’ll be profiling successful LGBT business women all week long!

Julie Harris, Managing Director at Goldman Sachs, had a master plan when she entered college – or so she thought. “I come from a blue collar family,” said Harris, “and while my parents have always been incredibly supportive, they did not have a lot of advice on career choices, so I picked a major that seemed challenging and figured I would get a good job. That was my mental model.”

Harris decided that she was going to major in Computer Science and get a job programming. This trajectory probably would have served Harris very well had she not determined in her senior year of college that while she was very interested in applying technology to business problems, she did not love programming.

It was at this juncture that Harris first tapped into a bit of profound professional wisdom. Harris said, “It was the first time I made the distinction between knowing what you can do and are good at, versus knowing what you love doing.” She adds, “This is something I have thought a lot about throughout my career when making choices. When you follow passions instead of just capabilities, it can be the difference between good and great.”

Although Harris had just spent four years preparing to graduate with a Computer Science major and enter the workforce as a top notch programmer, she was unwilling to settle. So, instead of heading to a traditional programming job, Harris decided to apply her technology background in a burgeoning industry at the time known as consulting.

“All the big accounting firms started building consulting arms because clients wanted total solutions.” Harris continued, “I started working at what was then known as Arthur Andersen, which became Andersen Consulting, and is now Accenture, in the Management Information Consulting division.” Out of the nine years Harris spent there, she only focused on programming for two of those years, ultimately moving to business analysis roles which focused more on application of technology to business problems .

Even though this experience formed the foundation for Harris’ professional career, she gleaned much more from her time as a consultant. Harris explained, “The great thing about a firm like that is that it taught someone who didn’t have professional experience how to be structured and disciplined, essentially how to be a professional.”

If Harris was going to continue to be a key player in the corporate arena she knew she had to familiarize herself with the business landscape in order to successfully navigate it. Although her knowledge of business, particularly in the financial services sector, was limited, Harris was not deterred. Instead, this motivated her to enroll in the MBA program at the Kellogg School of Management at Northwestern.

Read more
/by

Thought Leaders: Chris Crespo, Inclusiveness Director, Ernst & Young LLP

Chris CrespoWelcome to Pride Week on The Glass Hammer — we’ll be profiling successful LGBT business women all week long!

When Chris Crespo was applying for her first job out of college, professional services firms hadn’t yet taken many steps to address diversity challenges. “When I started in the industry, we didn’t talk about diversity and inclusion. They made an effort to have a woman interviewer, if you were a woman. And that was it,” she recalled.

“Now we see diversity and inclusion as part of what we do to brand ourselves as leaders in the industry in terms of meeting client needs, learning new things, and doing everything we can to be as strong as we can in this area,” she explained.

Crespo has had a lot to do with that change. In addition to working as Inclusiveness Director at Ernst & Young LLP, she was the catalyst behind the firm’s lesbian, gay, bisexual and transgender (LGBT) professional network, Beyond.

“The biggest way I’ve changed over the course of my career is listening more and figuring out what it is that I don’t know. It used to be very easy for me to argue with people,” she reflected. “It’s been an important lesson for me along the way that sometimes what seems so obvious to me is not obvious to other people. I needed to learn to ask more questions and find out the reasons behind why people were seeing something differently from me.”

She continued, “There were times on the LGBT side where it was easy for me to get angry – for example, ‘why don’t we have partner benefits?’ And more often than not it was a lack of other people’s understanding. It became evident to me that there are some things other people had never thought of. The Beyond network is a good example of that. We had a women’s network, a few ethnic minority networks, and I said, ‘Why don’t we have an LGBT network?’”

“And the next thing I know, I’m leading one,” she said with a laugh. “That’s the other thing – when you ask questions, be prepared to follow up on them.”

Read more

/by

Movers and Shakers: Lanaya Irvin, Vice President, Global Banking and Markets, Bank of America Merrill Lynch

Lanaya Irvin

Lanaya Irvin, Vice President, Bank of America Merrill Lynch, believes the financial services industry can only serve to benefit by moving toward greater diversity and inclusion.

“The glass ceiling is still very much a real thing. The industry continues to be male dominated at senior leadership levels. Sexism exists in some places just as racism exists.” But, she continued, the industry is evolving, and old stereotypes are giving way to more inclusive cultures. Industry leaders are working to change those perceptions, transform culture, and some of the legacy that may create hurdles for women and other groups. Our firm has been proactive in driving a culture of inclusivity.”

She believes this evolution is is, in part, a response to the challenges that the financial services industry has faced in recent years. After all, diversity provides the unique viewpoints and solutions that companies need today to gain an edge in an increasingly competitive marketplace. “At a high level, what’s particularly interesting to me is the positive shift the industry has been able to make. The domestic and global economic environment has required adjustment. Our strategy has been to refocus on our clients, and maintain that laser focus on the ways we can deliver value to them. Companies need diverse, talented professionals to do that.”

Irvin is leader of the Bank’s LGBT Pride Employee Network for Metro New York and the first female co-chair of Interbank Roundtable Committee, a consortium of 29 banks and financial services firms working together to share best practices around LGBT diversity and inclusion.

She believes that, as a group that represents multiple facets of diversity, LGBT women may face additional challenges when it comes to advancement, but she encouraged LGBT women to own their identities and stay true to themselves. “There is the complexity of having multiple minority identities. I think lesbian, bisexual, and transgender women in the workplace face many of the same challenges as heterosexual women, but silence around that identity can be more difficult.”

“For LGBT women, I would say, make your presence known,” she advised. “Our firm has made it clear that those perceived barriers should not exist and need to be disrupted. These barriers are not insurmountable.”

Read more
/by

Voice of Experience: Kathy Levinson, Managing Director, Golden Seeds

KathyLevinsonWelcome to Pride Week on The Glass Hammer — we’ll be profiling successful LGBT business women all week long!

By Michelle Clark (Keene, NH)

When you ask Kathy Levinson, Managing Director at Golden Seeds, what her greatest professional accomplishment is, she will modestly talk about the details of her fourteen year career at investment firm Charles Schwab, or briefly mention what it was like to be the President of E*TRADE. But, it is when she speaks about the positive difference she has made in the lives of people who face professional challenges simply because they are different, that you really hear the pride shine through in Kathy Levinson’s voice.

Levinson did not always plan to be such an influential leader in the financial services industry. “My original plan when I was younger,” she says, “was to be a professional tennis player or a professional violin player, so I really I had no idea or intention that I would be an influential business leader, much less at the time, an out lesbian or a woman leading a company.”

In 1979, Levinson answered an ad in the newspaper for a broker’s assistant job at financial services firm, Bache, Halsey & Stuart, after letting go of her dream to achieve athletic or musical stardom. This, she says, “Was my unintentional and serendipitous start in the financial services industry.”

At Bache, Levinson experienced a lot of gender-based discrimination and verbal abuse and even some physical harassment, which was pretty common for women entering the male-dominated financial services industry at that time. Levinson sums up the general workplace culture by saying, “The words to describe women came in four letter words, maybe five letter words, and none of them were pleasant.” However, despite facing such an oppressive environment, as Levinson described it, she made the most of her time at Bache. During her year as a broker’s assistant, Levinson obtained her stock brokerage license.

After leaving Bache, Levinson had a short stint at a money management firm, but continued to struggle with finding her place in such a hostile environment. She eventually found her niche at a little known company at the time called Charles Schwab. Levinson recalls how she felt, “Charles Schwab seemed to fit me from both a philosophical and a values perspective.” She continues, “It was a renegade firm, the first financial services firm to be based on the West coast.”

Charles Schwab was a game changer in the financial industry because it was one of the first financial services firms established after new laws were introduced in the mid 1970s deregulating commissions on the buying and selling of stock. Unlike all other brokerage companies, Schwab’s brokers were salaried – they did not get paid commissions. In many ways, there are important parallels between Levinson and Charles Schwab. That is Wall Street wanted them both to fail – Levinson for not fitting the profile of a typical financial services professional and Schwab for creating an entirely new way for consumers to invest which benefited the investors instead of the brokers.

“When I went into the headquarters office at Charles Schwab for my interview, I saw women and young people, and that environment felt more appropriate for me.” Apparently, Levinson’s feeling was spot on as she spent fourteen years at Charles Schwab, holding a number of different positions. Aside from gaining valuable experience at Schwab, Levinson also felt like she was finally working in an environment where the company’s leaders were receptive to change, especially when it came to welcoming women into the world of investing. “I saw my higher level purpose as helping women become more financially secure and manage their money. Schwab was making investing easier for women, since women were so unwelcome at traditional brokerage firms, not only as employees but as customers.”

Yet, Levinson still recalls moments at Schwab where she felt like an outsider. Naturally, when Levinson arrived at Schwab, one of the first steps she took was to scan the company’s organization chart for a woman’s name. She found one woman in senior management, which certainly wasn’t uncommon at the time. Levinson recalls, “I got up my nerve to walk up to the executive floor and into her office. I told her how impressed I was by how far she had gotten in her career, and how I wanted to learn from her.” The response Levinson got wasn’t quite what she expected. “I was treated so harshly,” says Levinson. “She said to me that you just need to work hard and being a woman doesn’t matter at all because we’re no different.”

Levinson was taken aback by this misguided advice, but like she so often does when faced with adversity, she used this event to fuel her greater mission of promoting diversity in the workplace by promising herself that when she got to a senior level position, she would always make herself available as a mentor to women, lesbians, or anyone else who felt like they were struggling in their career based on the fact that they were different.

Feeling fulfilled by everything that she had accomplished at Charles Schwab, Levinson turned her focus to spending more time with her family until she received a phone call from a company called TradePlus, offering her a position at their firm. Levinson was so dedicated to establishing and raising her family at the time, she refused to even consider a position at any company located outside a five mile radius of her home. Luckily, TradePlus fit the bill.

Levinson had been committed to taking some time off, so instead of joining TradePlus as a full-time employee, Levinson became a consultant for the company, as that seemed like less of a formal commitment at the time. After serving as a consultant for a little over a year, Levinson became President of the brokerage company, which soon thereafter morphed into E*TRADE, becoming one of the first financial services firms to offer internet trading. Shortly after, Levinson became President and COO of the holding company.

Read more

/by