Theglasshammer.com hosted the first in the series of invitation-only networking seminars for senior women on the Buy-Side at the Harvard Club in New York City on September 29th. Our intent: to create a peer-to-peer environment for CEOs, Principals and Managing Directors of traditional and alternative funds to enable them to interact with Chief Operating Officers, Chief Technology Officers, Heads of Risk Management, and Heads of Operations and discuss the how the industry has changed over the past two years. The result: 100 female leaders in investment management gathered to network and to hear Cynthia Steer, Chief Strategist of Rogerscasey, Marianne Brown, CEO of Omgeo, Liz Philipp, head of the NY office for PIMCO and Annie Morris, Head of Linedata’s North American Business weigh in on the predicted trends for the industry.
The panel represented a 360-degree view of industry issues from front office to back office and how the “New Normal” means that operational risk is now a primary concern for business leaders who want to continue to compete in 2010 and beyond. Inspired by thought provoking questions posed by moderator Holly Miller of Stone House Consulting, the panelists first addressed the issue of operational due diligence, emphasizing the importance of having a corporate culture which supports a consistent due diligence effort.
“There has been a revolution over the last two years,” said Steer, “[People are recognizing that] you need to read your prospectuses; you need to ‘do’ back office.”
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6 Perspectives on Women in the Boardroom, Plus 3 Tips for an Effective Board: FTSE 100 Breakfast Panel
Pipeline, What's OnBy Jane Lucken (London)![iddas-6462[1]](https://theglasshammer.com/wp-content/uploads/2009/10/iddas-64621-160x240.jpg "iddas-6462[1]")
Company boards of directors are under intense scrutiny. Non-executive as well as executive directors hold the weight of company performance on their shoulders. Might more women in senior positions have reduced the impact or even steered us away from the banking crisis? Politicians, as well as media commentators, are weighing in on this debate.
A start to answering the question is to understand the different behaviours that women bring to board level decision-making. Boardroom consultancy IDDAS set out to explore these subtleties through in-depth interviews with 24 women who sit on the boards of FTSE 100 companies and uncovered some interesting insights. They released the results during an executive breakfast at The Ritz in London on October 30th. The quotes below are from interviewees for the study.
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Voice of Experience: Beth Skillern, President and General Counsel, Bullivant Houser Bailey
Voices of ExperienceBy Tina Vasquez (Los Angeles)![Skillern[1]](https://theglasshammer.com/wp-content/uploads/2009/10/Skillern1.jpg "Skillern[1]")
From a very young age, Beth Skillern, Bullivant Houser Bailey‘s firm president and general counsel, was determined to grow up to be the kind of woman that found her own way and supported herself, an unusual aspiration for a young girl coming of age in the 50s and 60s. But her father, who she cites as her main source of inspiration, raised her to make the most of her talents. “My father really valued education because he didn’t have the opportunity to go to college,” Skillern said. “His work ethic was incredibly strong and he inspired me to become who and what I am today.”
Skillern spent a majority of her adult life as a junior high history and English teacher before deciding to return to graduate school. “When I was in college in the 1960s, many women didn’t go to law school,” Skillern said. “I’d always been fascinated by lawyers [though] so I decided to [go to law school and] begin my second career. I was up for the intellectual challenge it posed.”
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In Case You Missed It: Business News Round-up
NewsContributed by Martin Mitchell of the Corporate Training Group.
U.S. unemployment rose higher than expected, while the weakening of sterling against the U.S. dollar has strengthened Kraft’s position in the takeover of Cadbury. Six U.K. recruitment companies were fined a total of £39.7m for price-fixing by the Office of Fair Trading. These are but a few highlights of important market events that we’ve gathered to help you start the week well informed.
Economic Backdrop
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On Your Bookshelf: Outliers – The Story of Success
ReviewsBy Andrea Newell (Grand Rapids, MI)
It is an age-old question–what is the secret of success? In Outliers – The Story of Success Malcolm Gladwell sets forth his theory that success is a mixture of timing, talent, opportunities, circumstances, intelligence, attitude, cultural background, and hard work.
Supported by case studies and in-depth research, Gladwell uses examples ranging from youth sports to Beatles music, form Bill Joy and Bill Gates to the garment industry workers and New York lawyers, and from the Hatfields and the McCoys. His smooth, narrative style draws readers in as he marches through history, analyzes cultures and dissects parenting styles.
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Assessing and Managing Operational and Investment Risk: glasshammer2.wpengine.com Seminar for Senior Women on the Buy-Side
Featured, Pipeline, What's On, Women on the Buy-SideThe panel represented a 360-degree view of industry issues from front office to back office and how the “New Normal” means that operational risk is now a primary concern for business leaders who want to continue to compete in 2010 and beyond. Inspired by thought provoking questions posed by moderator Holly Miller of Stone House Consulting, the panelists first addressed the issue of operational due diligence, emphasizing the importance of having a corporate culture which supports a consistent due diligence effort.
“There has been a revolution over the last two years,” said Steer, “[People are recognizing that] you need to read your prospectuses; you need to ‘do’ back office.”
Read more
Voice of Experience: Mareile Cusack, General Counsel, Ariel Investments
Voices of ExperienceBy Pamela Weinsaft (New York City)
“Change awakens the stranger in you. When you are faced with a different situation, that’s when you find your strength and are able to grow and become a better person,” said Mareile Cusack, General Counsel at Chicago investment firm, Ariel Investments.
That’s the voice of experience talking. Cusack was born in Haiti. At the age of two, she and her family fled to Guinea when her father, a government official, was exiled. They remained in northwest Africa until a nationalist movement forced all foreigners out five years later. “It was an unusual time. It wasn’t yet violent but foreigners were being looked upon with suspicion. I do remember, though, that the father of someone I knew suddenly disappeared because he was thought to be a spy. It was that kind environment, so my parents decided it was time to get out.” The family moved to France, where Cusack lived until she came to the United States to attend boarding school in Andover, Massachusetts at the age of 16.
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Ask-A-Career Coach: How To Handle The First Days On The Job
Ask A Career CoachI am starting a bigger role in a new company. How do I handle messaging, managing my team and the first days on the job in general?
Congratulations on the new role! Even more congratulations are due for recognizing that getting the job is just the first step. Any time there is a big change, be deliberate about how you will handle your first quarter, first half, and first year. Here are some tips for that first quarter:
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FN100 List: Where are the women?
Industry Leaders, LeadershipBy Liz O’Donnell (Boston)
If you’re paying attention, then you know that women are good for business. Even outside of women-focused news outlets like ours, people are finally talking about the positive link between women in leadership and bottom line results. Just last week, the Clinton Global Initiative held a programming track at its annual meeting, called Investing in Girls and Women. There was a special topic dinner held one night during the meeting to celebrate people committed to addressing the challenges and accomplishments of women around the globe. The participants included: Sarah Brown, Wife of Prime Minister Gordon Brown of the United Kingdom, Melanne Verveer, Ambassador-at-Large for Global Women’s Issues, Office of the Secretary, U.S. Department of State and Muhammad Yunus, Founder and Managing Director, Grameen Bank. A plenary session on gender inequality featured speakers including: Lloyd C. Blankfein, Chairman and CEO, Goldman Sachs and Robert B. Zoellick, President, The World Bank. So why, if awareness is raised, if the data exists, if heavy hitters like the ones mentioned above are discussing the issue, why are there still so few women at the top?
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Voice of Experience: Cynthia Steer, Chief Research Strategist and the Head of Beta Research Group, Rogerscasey
Voices of ExperienceBy Pamela Weinsaft (New York City)
A former competitive figure skater, swimmer, and track and field star, Cynthia Steer knows about self-discipline and drive. She relies on those traits daily as the Chief Research Strategist and the head of Beta Research Group at global investment solutions firm Rogerscasey.
“I was an athlete at a time when women were not normally athletes,” she explained. She forced the integration of her high school track team and held her own as the only girl on the team.
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In Case You Missed It: Business News Round-up
NewsContributed by Martin Mitchell of the Corporate Training Group.
The E.U. unveiled new rules to create a new Eurpoean Systematic Risk Board. The pound fell to a low of £0.9078 against the euro, its weakest level since April. Goldman Sachs tops Dealogic’s third quarter M&A list. These are but a few highlights of important market events that we’ve gathered to help you start the week well informed.
Economic Backdrop
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