Voice of Experience: Kathy Elsesser, Managing Director and Head of Global Consumer Retail Group, Investment Banking, Goldman Sachs

Kathy elsesserKathy 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.”

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Voice of Experience: Beverly Anderson, Executive Vice President and Head of Consumer Financial Services Group, Wells Fargo

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.”

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Voice of Experience: Paula Anderson, Partner, Litigation, Shearman & Sterling

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.”

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Voice of Experience: Dayle Davison, Managing Director, Citi Private Bank

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.”

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Voice of Experience: Anne Robinson, Chief Counsel, Global Commercial Services and U.S. Consumer Travel, American Express

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.”

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Voice of Experience: Maura O’Sullivan, Partner, Finance, Shearman & Sterling

By Melissa J. Anderson (New York City)

After over 25 years in law, Maura O’Sullivan, a partner in the Finance Group at Shearman & Sterling, has developed a keen understanding of how to serve clients and how to do exceptional work. But she’ll never forget the early days.

One of her early assignments as an associate sparked her interest in complex deals and taught her the importance of making a difference on behalf of clients. “News Corp is a big player today,” she recalled, “but in the early ‘90s, it was having financial difficulty. As a member of the Shearman & Sterling team advising News Corp, I helped negotiate a workout of all of its debt globally. There were over 100 different credit facilities and about 150 lenders involved.”

Even by today’s global standards such a level of complexity would be considered significant – but at the time it was almost unheard of. She explained, “The corporate organization chart – if you put it on the wall – covered 10 feet. I spent my mornings talking with European lenders, my afternoons in the US, and my nights with Australian and Japanese banks. We got all of the lenders to agree to a standstill.”

“That, as a deal, will always stand out because of the sheer complexity and the opportunity to be creative. Starting with News Corp and continuing to this day, workouts and restructuring are among the more interesting things that I do. I like to find solutions that help my clients.”

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Voice of Experience: Jing Hu, Partner, Financial Services, PwC

By Melissa J. Anderson (New York City)

Jing Hu, a partner in the financial services group at PwC’s Beijing office, has seen her self-confidence grow throughout her career. When she first joined the firm, she was fresh out of college in New York City. “I think my immigrant background shadowed me. I had a lot of insecurities,” she explained.

But the support and coaching she received from partners in New York, and later in Beijing, made her realize her own strength. “My colleagues had so much confidence in me and gave me guidance and coaching. That helped me be confident in myself.”

She added, “I was lucky to have met those people – working at PwC changed me a lot.”

Currently Hu is beginning work on a new client with a challenging IPO plan. She is also working with PwC’s other Beijing partners on helping the firm distinguish itself from competitors. She explained, “In China, there are mandatory auditor rotation rules for large state-run enterprises as well as financial institutions.” As a result, many companies see auditing as more of a compliance procedure, rather than a value-adding service.

“Differentiating ourselves, and showing how we can add business value – that is something I’m working hard with my colleagues on.”

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Voice of Experience: Mary Strother, Managing Director, Investor Relations, Athenian Venture Partners

By Melissa J. Anderson (New York City)

Mary Strother, Managing Director of Investor Relations at Athenian Venture Partners, has built a successful career out of leveraging her differences.

She explained that if your background varies somewhat from the more traditional CVs in your industry, you’ll have skills others don’t necessarily have. The key is to consider your unique qualities as assets. “I mentor some young college women from time to time, and I took one to dinner recently – she was graduating in accounting and beginning to interview for jobs, but she was worried she didn’t have the same qualifications as some of the more typical accounting grads. I felt the same way going into finance early in my career,” she explained.

“Don’t compare your insides to other people’s outsides. Be bold and focus on what it is you can do. The key is to really practice communicating why your background matters,” she added.

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Voice of Experience: Jamie Zimmerman, Founder and CEO, Litespeed Partners

By Melissa J. Anderson (New York City)

“I think people starting their careers often make a common mistake – they have an idealized notion of what a career might be, but they fail to investigate the day-to-day,” began Jamie Zimmerman, Founder and CEO of Litespeed Partners, an event-driven fund specializing in distressed debt.

Zimmerman learned this the hard way – she had planned on a prestigious career in law, aspiring to be the first woman on the Supreme Court. But when it came to actually being a lawyer, she discovered she wanted a different career path.

Today, she runs her own fund, doing work she finds fascinating and engaging. “Your life is the day-to-day, and I think it’s very important that you love it, that on Monday morning you get up and you want to go to work.” She continued, “At Litespeed, we are investigative reporters with an investment overlay. Every day, we try to predict and profit from the future. It is always challenging, always interesting, and a lot of fun.”

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Voice of Experience: Carol Sawdye, Chief Financial Officer, PwC

carol sawdyeAccording to Carol Sawdye, Chief Financial Officer at PwC, it’s important to maintain a “sense of urgency” about your career. It took Sawdye 17 years to figure this out, she said with a laugh.

After climbing through the ranks to partnership at PwC, she set out for a new chapter as CFO and COO at the M&A firm Skadden Arps, which led her to a more recent, challenging role as CFO at the NBA. Now, she is back at PwC, working as part of the US Leadership Team to transform the nature of how the firm does business in a rapidly changing, 24/7, global marketplace.

Sawdye explained, “You don’t necessarily need to move to new employers. There are typically a lot of opportunities in the place where you are currently employed to get new experiences and advance your skills. The way to get from point A to point B is not necessarily a straight line.”

“After moving up the ranks at PwC for 17 years, I made the move to Skadden – it was a big leap. But I had the desire to become part of a management team so I just decided to do it. You really need to be willing to see opportunities and take calculated risks.”

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