Christine HurtsellersWe caught up with Christine Hurtsellers, Chief Investment Officer of Fixed Income for Voya Investment Management (IM), to talk about the future of the financial services industry.

Nicki: What has changed since we last interviewed you back in 2010?

Christine: I still have the same role, however, following our IPO in May 2013 and separation from ING Group, we rebranded as Voya. It’s been an exciting process to define Voya’s values and recalibrate our investment policies. In 2015, Pensions & Investments Magazine named Voya IM one of its “2015 Best Places to Work in Money Management” list for the first time. The firm also recently received distinction as one of the World’s Most Ethical Companies® by the Ethisphere Institute for the third year in a row.

Nicki: Why do you think it is so important to help advance good talent, including more women in the industry?

Christine: I am passionate about making the investment industry better. I want to help rising stars in the industry that are women and provide them with a toolkit. I believe that women can be phenomenal investors, and I want to challenge and speak with them to help them grow as thoughtful investors. People entering this industry are looking for more than a paycheck. They value experience and want to work for places that are more values-based. I think it is great that millennials are thinking way more about linking their values to their workplace experience than previous generations.

Nicki: What is your advice to someone entering the industry or who is in the early stages of her career?

Christine: The cost of doing business is increasing and as a result we will see some consolidation. Some products are becoming more commoditized with ETFs showing up more for retail investors on that side of the business. It is an interesting time to be in the industry as institutional clients look for unique, customized approaches for their portfolio. The road is becoming more and more bifurcated. For people entering the industry, there is a temptation to become specialized early at a boutique firm. I believe it is critical to stay flexible to learn a variety of skills for the first 8-9 years of your career. My advice is to look for companies with multi-dimensional businesses to give yourself that opportunity.

Nicki: You recounted to me how one time a woman said you were an unrealistic role model. How did that make you feel?

Christine: I don’t want to be the poster child for women at work because I have five kids and I run marathons, that isn’t everyone’s version of life. How do we lift as we climb? That is the bigger question, and I think the answer is to share with people my failures and some of the decisions I have made. I try to be real and make sure my advice is very content oriented about the markets and investing. By challenging and teaching people, I can be a better role model. Lastly, if I can use my network to help women and make appropriate introductions, then I know I am walking the talk.

I try to hire women and I use my network because a long time ago a woman did the same for me and she was instrumental in helping me get my next job. She was in fixed income sales and she introduced me to many clients and people in the industry. This was crucial in me securing my next role at what is now Alliance Bernstein

Looking out for each other in times of trials is so important. To have someone put her credibility on the line and say “hey, talk to this person” is incredible, and this woman did that for me, so I want to pay it forward.

Nicki: How do we ensure other leaders are as accountable as they think they are for real change?

Christine: I think the best way to engage leaders in the discussion of having diversity in their teams is to challenge them to think about what they do to shape the culture.
Sometimes it isn’t obvious to other leaders that they need to create pathways and a culture for success for women that goes beyond mentioning their women’s network and other HR policies.

I want to see accountability for diversity, and if I start with the numbers – literally asking how many women are in senior roles – then it usually opens up an honest conversation with most male leaders to think more about how they can approach hiring and developing more women.

Nicki: How have you successfully built relationships in the industry – both within your firm and with people in other firms?

Christine: Networking can be such an implicit action; it’s just something we do. You meet interesting people along the way and share relevant insights with them – add value to the other person and they will reciprocate – like in a marriage you have to love and you have to love first.

I joined the Treasury Borrowing Advisory Committee in 2014 and I am enjoying working with really talented and intelligent people on a very interesting subject that has real consequences. I work at leaning in with them. Sending an article to a small group who share common interests, dropping them a note from time to time. It is about contributing as best as you can to further the task and mission. Building relationships is ongoing, and it is an honor to work with such great people providing recommendations to Treasury on a variety of debt management issues.

Nicki: Do women help other women at work?

Christine: I would go as far as saying that I believe that women help women in tough situations, more than men help other men. It is also important to look for your advocates in male and female leaders as I have great examples of how men have believed in me. Rob Leary, now CEO at TIAA Asset Management, was the person who gave me the job at Voya. I wasn’t the most obvious candidate, and he took a risk on me. He knew I was great with people and an exceptional investor, and I delivered for him.

Nicki: What is the one thing you know now that you wish you had known when you were first starting your career?

Christine: I went it alone for a long time. The power of networking peers and mentoring is something I wish I had considered when I started my career. I wish I had focused more on the quality of management, their values and ethics, and the culture they create at the company.

In life, you take every opportunity and you learn – in careers, as long as you maximize learning, you are on the right path. I ended up fine tuning my experience in mortgage derivatives when I made a move to Freddie Mac. Many advised me against it, but I knew it was important for me to spend more time with my family as previously I wasn’t seeing them from Sunday night to Friday afternoon. I learned so much. It meant I could come to Voya due to my deep knowledge, and for my life at that time it meant my family and I could be happy, which is of course really important.

It’s about making the best out of any experience.

Christine is also a panelist at our upcoming event – theglasshammer.com’s 5th Annual Navigating your career event on May 4th 2016.

John KeyserHow can it be 2015, and yet brilliant and talented women are still stuck in the pipeline? The “glass ceiling,” coined way back in 1979, is still impenetrable for many women. To a senior businessman like me, this is misguided and unacceptable.

So I recently published a book to do something about it. Make Way For Women: Men and Women Leading Together Improve Culture and Profits documents the overwhelming evidence that companies led by women and men together are more profitable and sustainable. Also in the book are clear strategies for making this culture change happen across industries.

A little background.I have held high-level executive positions in the corporate and not-for-profit worlds for 40 years. During this time I have worked with many highly effective leaders, many of whom are women.These women inspired others with their business smarts and their people skills, and that is leadership.

Yet, while a few of these highly skilled women made it senior leadership positions, way too many were limited by that damned glass ceiling. And yet men at the top would never admit that. Why? In my mind, it’s because men tend to make assumptions about women. “Yes, she’s very capable, but her family responsibilities will prevent her from traveling as necessary, or as a woman, she can’t handle our largest and most difficult clients.”

I hear these assumptions by men over and over again, unfounded assumptions, and I know that often these decisions are made without discussion with the women in question. These women are not even asked if they are in a position to take on stretch opportunities!

All too often, a man who is less qualified and has not earned the promotion or assignment will be given the job.

In my opinion, capable women and men leading together strengthen a company’s leadership at a time when highly effective leadership is needed.

(subtitle) Creating equal leadership opportunities for both genders?

In my experience, women need advocates in the C-Suites to create pathways to leadership. For example, a very accomplished woman I work with in my coaching practice wanted to continue to advance within her company. The next step would be a seat on the management committee, all male.

She was given the opportunity to join the committee, and she was certainly nervous. Her strategy was to listen intently, be ready to handle negativity and criticism toward her with grace and then to thoughtfully offer her ideas. To come out from behind herself, to believe in herself and her voice.

So she spoke up and sure enough, there were men who shot down her ideas, yet she learned to roll with it, to keep speaking up until she got comfortable with how it worked. And that persistence is how she broke through the glass ceiling to become one of the very top executives in the company, a true leader.

With the help of my friend and a writer, Adrienne Hand, we undertook the mission of the book Make Way for Women.

The first part of the book identifies research studies that validates that companies with gender diverse leadership outperform companies that do not have as many women in key senior positions.

I also share my own views and experience, and those of 45 successful men and women we interviewed including Nicki Gilmour, the Founder and CEO of theglasshammer.com. We selected these men and women as they are highly respected in their fields. The men we spoke with understand the value women bring, and the women are highly accomplished and skilled leaders who are succeeding in male-dominated environments.

I hope the book is good as the messages are, I believe, very important!

Now is the time to be forward thinking leaders, be out in front of the change that is coming, and help it happen! I started with myself.

By John Keyser

women salesThis Week’s Tip Is…

Expert, Manager or Worker Bee? Which category do you fall into? Where do you want to be? Are you doing what you need to do to get there and stay there?

If you want to be the expert, are you the master/mistress of your domain? Think about ways to specialize your skills and knowledge.

Welcome to Career Tip of the Week. In this column we aim to provide you with a useful snippet of advice to carry with you all week as you navigate the day to day path in your career.

By Nicki Gilmour, Executive Coach and Organizational Psychologist

Monica MarquezIt was a subtle comment that kept Monica Marquez of Ernst & Young LLP (EY) in the closet at her first job – the sense that coming out would hinder her opportunities. And that’s one of the reasons she is so focused on improving the experience for other LGBT employees. “When you are able to be your authentic self, barriers dissolve and your performance becomes just about your performance. The LGBT piece becomes moot.”

Marquez attended Texas Tech in Lubbock, Texas, studying biology with a dream of becoming a doctor. While in school, she realized she had a natural passion for student engagement and involvement. One of her professors, the vice president for Student Affairs, praised her abilities, telling her she would make a wonderful administrator in higher education. She did some soul searching about what drives her and what she most enjoyed doing, and for the first time realized she had options other than the careers she had seen growing up, such as doctors, lawyers or engineers.

With that, she earned her master’s degree in higher education, and after meeting her partner, decided to move to New York, where she felt people would be more open minded.

The timing was less than ideal: they were headed to New York City on September 11, 2001, but postponed their arrival until Sept. 21, right after the 9/11 tragedy. She soon found out that there was a job freeze at most schools, limiting her options. She accepted a position at an art school, which one would assume would have a more open-minded administration, but that was where she felt the perceived pressure not to come out in the role for which she was hired, so she spent her first four years in New York closeted at work.

That challenge convinced her that when she looked for a new role, she would share personal stories during the interview and essentially “out” herself from the onset. “I’m going to ensure they like me for me.”

Moving to Financial Services

When she was offered the opportunity to pursue a recruiting role at Goldman Sachs focusing on building out their diversity pipeline of talent, she hesitated. She had only heard “horror stories” about working in a corporate environment, especially the financial industry, but after consulting with friends with financial and business backgrounds she realized it was too good an offer to pass up.

And indeed it was. “Joining the financial services industry was the best choice I’d ever made. It was fascinating to watch the same student development theories I had learned during my graduate studies play out in the workplace, as employees entering the working world transitioned into discovering their skill sets and who they are,” she says. “It was the mirror image of freshmen and sophomores coming into college, and I realized I was able to parlay my background to develop professionals as I did students.”

She credits the recruiters, who saw potential in her ability to bring a different perspective.

One of her first efforts was rolling out the Goldman Sachs Returnship program, supporting women returning to the workplace, which stands as one of her proudest career moments. As she progressed in her career, she focused on expanding her diversity experience to work on initiatives focused on LGBT, women, Asian, black and Latino employees at Goldman for the next seven years.

At that point, she decided she didn’t want to get siloed in diversity, and took a role at Bank of America Merrill Lynch, where she focused on leadership development, working with senior leaders to help them shape culture, organizations, teams and talent. But after a year and a half, she realized she was passionate about diversity and began looking into other diversity roles. As serendipity would have it, her partner Alaina was asked to relocate to the West Coast by her employer, so Marquez used that opportunity to tap into her professional network and start searching for roles out West. Before she knew it, she was hired for a diversity inclusiveness and flexibility role at EY in Los Angeles, ironically with the same report date as her partner –December 2014.

At EY, Marquez has been working on assessing the environment for flexibility, diversity and inclusiveness, underscoring that it’s no longer just focused on women. As one example, gender neutral bathrooms were included in EY’s San Jose office redesign, a concept Marquez is encouraging teams to implement wherever feasible. Her goal is to capture momentum, engagement and energy and focus on creating high-performing teams while weaving in the concept of inclusiveness. And, she’ll be taking the firm’s global and Americas priorities and customizing them for the west, taking into account different cultural nuances based on client groups.

LGBT in Financial Services

As a whole, Marquez believes the financial services industry has been more progressive and more forward thinking than many.

“Having firsthand experienced being ‘closeted’ in the workplace, it was a priority for me to only consider employers with progressive and inclusive cultures during my job search. I found that, contrary to what I believed, the financial services industry was further along with LGBT initiatives than others. I’m excited to be at EY, a place I knew I could be myself from the beginning, instead of debating the right time to come out.”

She says even though EY has solid stepping stones in place, the firm is always looking for ways to improve and offer an inclusive environment. As part of its overall inclusiveness efforts, EY has initiatives geared toward LGBT professionals and their allies, that promote a welcoming work culture and make inclusiveness real for everyone, whether it’s through support or education.

The firm’s benefits include spousal-equivalent domestic partner recognition (from registration to benefits and policies), gender transition coverage in accordance with the World Professional Association for Transgender Health, and tax gross up on the domestic partner benefits imputed income. “These are subtle policy practices, but they have a big impact on the welcoming feel that things are equal.”

Encouraging Others

Marquez says she wishes that she had been strong and confident enough at the beginning of her career to say “This is who I am!” She believes she was initially unable to reach her full potential by not coming out, because she was always hiding something, which breeds a lack of trust with managers. “Over the course of my career, I’ve seen this mistrust manifest itself in manager-employee relationships. I’ve counseled closeted professionals who felt that their career trajectory was stalled. And I know why: for the manager and the employee, there’s something that’s off, but neither one of them can put their finger on it. In reality it’s that the LGBT professional doesn’t feel they are able to be their authentic self in the workplace, and the manager perceives the employee as being closed off or not engaged with the broader team. This misperception can adversely affect a career because the lack of a manager’s trust can lead to missed career opportunities for that employee.”

She says that this valuable lesson has made her even more passionate about teaching leaders to be careful about their words, to educate them on how to create an inclusive environment.

When talking to younger LGBTs about career opportunities, she counsels them to research companies where they think they want to be employed and dig in to see the culture: to make sure they embrace diversity and inclusiveness and see how other LGBTs have fared. “You’re going to spend the majority of your time there so you have to make sure it’s a good fit, and you don’t realize how important that is until you’re in the midst of it,” Marquez said. “I tell them, ‘Don’t put more time into choosing a car than your workplace.’”

Marquez counsels LGBTs to avoid making it an issue by seizing an opportunity to out yourself to make others feel comfortable. “Talk about your partner like anyone else would. People take your cues so don’t make it awkward; make it a non-issue.”

She says that managers are often afraid to say the wrong thing, but when you see them trying that says a lot. “We shouldn’t get upset if their response isn’t perfect, but instead look at those as teaching moments.”

Outside the Office

Marquez is involved in the Association of Latino Professionals for America (ALPFA), where she has hosted panels to discuss the nuance of the LGBT journey in the Latino community, which tends to be conservative.

She also works with students, helping broaden the definition of success for young minorities. “Growing up in a small west Texas town, success was defined narrowly. I have a huge passion for educating students about what it takes and how it works,” she said, noting for example that they wouldn’t necessarily know that if you want to get an internship at EY you need to apply early in the fall of your sophomore year in college.

Marquez and her partner, Alaina, now live in Los Angeles and have begun to explore all of the amazing areas and outdoor activities the West Coast has to offer. “The adjustment from New York City to Los Angeles has been significant, but we are enthusiastically determining for ourselves if the West Coast really is the best coast!”

women at computerThis Week’s Tip Is…

What is the job that you want next? Are you working on building the skills for this next job as well as the job after that?

Make sure your skills development plan is lining up for your next promotions. Have a think about how to close any experience gaps that you might have.

Welcome to Career Tip of the Week. In this column we aim to provide you with a useful snippet of advice to carry with you all week as you navigate the day to day path in your career.

By Nicki Gilmour, Executive Coach and Organizational Psychologist

sad womenThis Week’s Tip Is…

What are your triggers? We all have them. Think about your most stressful moment, what behaviors tend to surface time and time again? If you can identify them, you have a chance at not reacting in the same old ways. This will give you control over tough moments at work and help you to “show up” the way that you want to!

Welcome to Career Tip of the Week. In this column we aim to provide you with a useful snippet of advice to carry with you all week as you navigate the day to day path in your career.

By Nicki Gilmour, Executive Coach and Organizational Psychologist

thought-leadershipThis Week’s Tip Is…

“You, according to you” and “You, according to them” can sometimes differ for various reasons- social identity such as being a woman being one example. How do you close the gap between what you know you are capable of and your perceived skills by others? Design a plan to show and tell.

Welcome to Career Tip of the Week. In this column we aim to provide you with a useful snippet of advice to carry with you all week as you navigate the day to day path in your career.

By Nicki Gilmour, Executive Coach and Organizational Psychologist

woman sitting at deskThis Week’s Tip Is…

Waiting for a promotion? Think about what you have actively done in the past 3 months to ensure your boss/manager/sponsors knows you want to move head to the next level.

Welcome to Career Tip of the Week. In this column we aim to provide you with a useful snippet of advice to carry with you all week as you navigate the day to day path in your career.

By Nicki Gilmour, Executive Coach and Organizational Psychologist

networkingThis Week’s Tip Is…

Networking in a productive way

Have a think about the last 2-3 networking events that you attended and go back over your contacts from that meeting. Did you maximize those connections? If not, go back and make a few lunch or coffee dates or even send them an email framing an idea that could be mutually useful to you both.

Welcome to Career Tip of the Week. In this column we aim to provide you with a useful snippet of advice to carry with you all week as you navigate the day to day path in your career.

By Nicki Gilmour, Executive Coach and Organizational Psychologist

Nicki GilmourThis Week’s Tip Is…

Reverse Mentoring- join forces with someone from a different social identity group from you (perhaps generationally or culturally?) to see a fresh perspective on things.

This is a great way to work with grow with new lenses on old situations.

Welcome to Career Tip of the Week. In this column we aim to provide you with a useful snippet of advice to carry with you all week as you navigate the day to day path in your career.

By Nicki Gilmour, Executive Coach and Organizational Psychologist