A strong interest in gender diversity has not always been an inherent piece of my make-up. But throughout my career trajectory this interest evolved. I got to a stage in my career where there were not many working women around me. Lots of talented women were falling by the wayside. That was when I became passionate about gender diversity.
I felt I had to do something about it.
Kathy Elsesser, Managing Director and Head of the Global Consumer Retail Group in Investment Banking at Goldman Sachs, speaks enthusiastically about the opportunities for women in the financial services. She believes that women can achieve their full potential by being authentic and thinking carefully about what they want in life.
“Know what you want and ask for it. I have noticed a tendency on the part of the women I mentor to take what they’re given and do well with it. But the question I try to ask them is ‘what do you really want?’” She continued, “Ask for the things that will help you get that – versus accepting the things that are presented to you.”
And that mindset can benefit women throughout their career – from the entry level all the way to the top. She encouraged women to think carefully about how their skills and talents could be best leveraged at work. “Especially for women who decide to have a family, I would encourage them to think every day about how they are spending their time. As you get older, you begin to realize that time is a limited resource.”
She continued, “When you have a new project, think about whether this is important, or whether, if you personally do it, it is going to have an outsized return relative to someone else taking it on.”
“I really see women take on what they are given rather than asking whether it’s the best use for their time. If someone else can do it, give it to them and find a higher and better use for your time.”
By Melissa J. Anderson (New York City)
According to Beverly Anderson, Executive Vice President and Head of Wells Fargo Consumer Financial Services Group, one of the most important lessons she has learned during her career is what it means to be a leader.
“I got some really good advice a few years ago from one of my mentors, and it has helped me so much as a leader,” Anderson said. “I’m an intense person and I push pretty hard to achieve at a high bar. And what I’ve learned about that style is that it sometimes keeps people from coming along with me.”
She continued, “If my style impedes people from getting on board, that destroys my leadership brand and my ability to lead effectively.”
“What I’ve been working on is taking all of that passion and excitement and energy around business achievement, and funneling it in the right way to motivate and inspire the team I work with. It’s a fundamental shift in the way I lead and connect with my teams and partners. It’s been transformative for me.”
By Melissa J. Anderson (New York City)
At just 36, Paula Anderson, a partner in Shearman & Sterling’s litigation practice, has already earned a national reputation, having been named to Crain’s NY Business Magazine’s “40 Under 40” list and having received the National Organization for Women’s 2012 Women of Power and Influence Award.
It is not lost on her that these are significant achievements for an African American woman in an industry where diversity is still too rare.
“I’ve been interested in diversity in the legal industry since I began my career, and it still concerns me,” she said. “I go to industry functions and there are hundreds of attorneys there, and I am often the only person of color or maybe one of about five out of hundreds. I’ve always been driven to find a way we in the legal industry can address that, to better reflect the students graduating from law school.”
Anderson is doing her part at Shearman & Sterling. She is a member of the firm’s Diversity Committee, has been active in the firm’s WISER (Women’s Initiative for Success, Excellence and Retention) inclusion network, and was the first chairperson of the firm’s African American inclusion network BLAQUE (Black Lawyers Aligned in the Quest for Excellence).
“Through our various inclusion networks, we aim not just at recruiting diverse lawyers but promoting them as well,” she explained. “At the mid-level we lose a number of these lawyers. We see too many people opt out or pursue other careers. It is an industry-wide issue.”
Anderson adds that Shearman & Sterling’s inclusion networks are designed to enable people to advance by providing two key factors for success in a legal career: mentoring and programs focused on business development and networking. She has been very open in talking with young lawyers about the stereotypes that women and people of color must contend with in their line of business.
“Access to the pathways to success also means dealing with some of the unconscious biases that may exist,” she said. “For example, there are certain preconceptions some people have with respect to women not having boardroom presence or not being aggressive enough. Particularly in the litigation field, there are certain ideas of what a successful and capable litigator should look like, and that’s often something akin to a Perry Mason.”
That’s why visibility is so important for successful role models, she added. “We need examples of women who are successful, who have their own unique style and are being themselves, and are able to relate to a board or a jury. We are making some progress in addressing these types of challenges.”
By Melissa J. Anderson (New York City)
Latasha Brown, Senior Manager, Assurance, at PwC says she is cautious about speaking for all women in accounting when it comes to the challenges associated with gender or race. “But,” she continued, “I can certainly speak for myself, and the experiences of my close associates and colleagues. And I would say one of the main barriers or hurdles is holding onto the belief that it’s enough to just show up and be good.”
“It really is important to develop meaningful relationships with your clients, advocates and sponsors. I still find that some of our male counterparts tend do a better job of selling themselves, and putting themselves out there,” she explained.
“In my experience the challenge for women is not to put those limitations on yourself, by staying inside your comfort zone.” She added, “I have learned that opportunities come to those who step outside that comfort zone.”
By Melissa J. Anderson (New York City)
Dayle Davison, Managing Director at Citi Private Bank, spoke enthusiastically about the importance of networking – particularly for African American professionals.
“Are there challenges for African Americans and women in this industry?” Davison asked. “Sure. But I don’t think they are as prevalent as they might have been in the past. We have come a long way.”
“When I first joined the bank, women wore a uniform – nondescript suits with weird ties. Now we are able to wear clothing that doesn’t try to hide the fact that we’re women,” she continued. “But I think the biggest barrier is the absence of an historical network for women, and definitely for African Americans.”
She referred to a recent Fortune Magazine interview with Bob Johnson, the founder of BET. “He speaks very broadly about building strategic partnerships and your brand identity, but also, he discusses challenges that African Americans in business have faced in breaking through barriers.”
“It comes down to that historical network we haven’t had,” she continued, “but we’re building it, and I feel very good about the future.”
By Melissa J. Anderson (New York City)
Harlo Holmes, a Research Fellow at the Guardian Project, says she is just getting started in her career. But as a lead developer on two of the Guardian Project’s biggest endeavors – ObscuraCam and InformaCam, the latter of which just received a sizeable grant from the Knight Foundation – she is certainly a rising star in the open source technology space.
She believes there are some challenges for women and people of color in the tech world, but it depends on the norms of each particular area of the industry. “It’s really difficult in any field for anyone who doesn’t fit the status quo to thrive. But I’m incredibly optimistic about it,” she said.
In the Silicon Valley atmosphere – of which, Holmes emphasized, she is not a part – those challenges may be more pronounced. “I think it’s difficult for anyone who’s not in the status quo, but I think it’s less a problem of overt sexism or racism, but rather more of nepotism or a level of comfort with people who look like them, who fit a model they have seen in college or their grad program. It’s harder to get attention if you don’t fit the mold.”
The open source space is different, she continued. “Why I’m incredibly optimistic about my field is that it feels more like a meritocracy. You can contribute for years and no one knows your identity. The ethos is that we all work together where we can be useful so our project thrives.”
“In the circles we run in, there are more minorities – you’re not the only one in the room. You’re not a unicorn,” she continued with a laugh. “There need to be more and I believe there will be more. You can see the result of increasing diversity – we’re getting better and better.”
By Melissa J. Anderson (New York City)
After graduating with Honors from Hampton University, Anne Robinson went on to study law at Columbia Law School. She joined the law firm of Milbank Tweed, and then moved to an in house role at Deloitte Consulting before joining American Express. What attracted her to the company, she said, was its female General Counsel Louise M. Parent, who had a reputation for supporting women in the company and in the legal profession at large.
Now, having worked for American Express for nine years, Robinson is Chief Counsel for Global Commercial Services and US Consumer Travel, leading the legal team supporting several of the company’s lines of business.
Robinson says she enjoys working in the office of the General Counsel. “It’s not a business unit that has to deliver products or services, and it’s not like marketing or advertising either. We’re business advisors, and for me, the greatest achievement is feeling like I’ve been consistently able to gain the trust and respect of my clients and serve them as a trusted advisor.”
Building those relationships every day is what she likes about her job, she continued, “If I didn’t like the day-to-day, my job satisfaction would be limited. If my clients are excited, I’m excited and that’s why I’ve been here almost ten years now.”
By Melissa J. Anderson (New York City)
“It’s very hard for me to say there are particular barriers for professional women,” began Kerris Wigfall, Head of Fixed Income Compliance at ING U.S. Investment Management. “And as an African American woman, I’m pretty sure a lot of people would expect me to say it’s harder to move forward. But that hasn’t been my experience.”
She continued, “Different companies play by different rules in determining how people grow and move forward. For me, I’ve focused on learning and trying to be the best at what I do, and I’ve been honest with myself with regard to what I’m willing to tolerate. I’ve found that’s how to earn people’s respect. As a result, people have been willing to vouch for me and help me move forward.”
She recalled how, when she interviewed for her first company out of law school, the firm didn’t have a compliance job available. “But the person who interviewed me was impressed by my skills and abilities, and he wanted to take a chance on me. Nine months later, he called me back because he found an opportunity for me.”
Similarly, another previous boss has served as a reference for her later on. “He knew what I could do and my level of professionalism and was willing to do what he could to help me take the next step in my career.”
Wigfall says she has been able to cultivate that kind of sponsorship throughout her career. “I’ve been blessed to have people who understand what I’m trying to do, and really support me moving forward,” she added.
By Melissa J. Anderson (New York City)
According to Rashaan Reid, Director in the Mortgage & Securitized Products Sales Group at Bank of America Merrill Lynch, the most important factor in succeeding on Wall Street is drive.
“Having the passion is the first thing – it takes a lot of energy and stamina,” she explained.
Next important, she continued, is the willingness to learn. She encouraged people just beginning their careers in the industry to hone their curiosity and build a broad foundation of knowledge. “Seeing different aspects of the business gives you a well roundedness and a better ability to provide solutions for your client. You have to ask questions and learn the business from the ground up.”