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Shekhinah Bass: Managing Director, Head of Talent Strategy, Goldman Sachs

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Shekhinah Bass“I found my way to my career, but it wasn’t a career that I even knew existed, or even had visions of wanting to become,” says Shekhinah Bass, Managing Director, Head of Talent Strategy, at Goldman Sachs. “No one in my family had gone to college. No one had worked on Wall Street; all of these things were completely new to me. Oftentimes people say that you can’t become what you can’t see, but you can.”

In turn, Bass champions diversity herself formally via her role and also through her authenticity. As a mother with a successful career, she grounds herself with the mantra, “run your own race.”

Upon joining Goldman Sachs as a summer analyst, Bass never envisioned her journey leading to a career in the financial services industry. Her intent was to go to law school after graduation as she believed it was the only way to add value to society. However, through her experience at the firm, she learned what she really enjoyed doing was advocating for diverse professionals which she had the ability to do in Human Capital Management (HCM) at Goldman Sachs. Ultimately, she accepted an offer to work on the diversity, equity and inclusion team and realized it was also an opportunity to make a meaningful societal impact.

Feeling passionate about engaging in the Human Capital Management space, Bass went on to build her portfolio by working in many different HR disciplines, including performance management, employee relations, and chief of staff to the global head of HCM. She now is the head of talent strategy where she oversees the execution of a wide range of talent management priorities, focusing on development, engagement and retention.

Building the Pipeline of Diverse Talent

One of the ways that Bass is making an impact on elevating and empowering diverse professionals at Goldman Sachs is through the Black Analyst and Associate Initiative, where she is one of the coaches. Recognizing that in order to see more diversity in leadership, there needs to be a way to foster young professionals and build a pipeline from the beginning, the Black Analyst and Associate Initiative creates a formal structure for engaging and providing support for diverse professionals from the earliest stages of their careers.

Bass explains, “the experience is based on the relationships. We bring together the Black analyst, their manager and also a coach that’s assigned to them. It’s a trio that works together to make sure that analyst or associate is having the best experience while giving them advice and coaching them through how to be a successful professional at the firm.”

The program has proven to be beneficial for diverse junior talent as they begin their journeys at Goldman Sachs.

“Our junior talent is having a more positive experience. And that’s because we have this more structured program versus only relying on it to happen organically. Having that structure adds more rigor in making sure that you capture that person who may be shy and not want to go to an event where relationships may form, but is still very talented, smart and could benefit from a coach.”

Another development piece in building the pipeline for diverse professionals to excel at Goldman Sachs is the Women’s Career Strategies Initiative. The program is 4-6 months and includes women who are at an associate level, nearing promotion to vice president. Throughout the program, women have access to developmental content and are invited to events where they engage with senior leaders, both women and men, across the firm. The connections that the women make with their cohort are also invaluable to their career growth.

As a sponsor in the program, Bass speaks to its impact on promoting and retaining women.

“I had about 10 high performing women who I got to spend 5 months with — getting to know them, giving them advice, talking through this transition as they were coming up on moving from an associate to a VP, hopefully. And nearly everyone got promoted to a VP, which I’m very proud of.”

She continues, “We’ve seen many alumni of the program have long and successful careers at the firm…They weren’t partners or MDs when they went through this program, they were associates, and so it shows you that we were able to really engage them, retain them, get them excited to work at the firm and feel connected to continue to grow their careers at the firm beyond the program.”

Managing Change and Taking Advantage of the Support Around You

Bass knows from experience that finding the right support can be key when navigating transitions both professionally as well as personally.

“Coming from humble beginnings to get to where I am, I feel proud, but also feel very fortunate that I had so many mentors and sponsors along my life to get to this point.”

Bass talks about the importance of recognizing that the phases of life can create questions of how to proactively manage your career at different critical points and nuanced advice is required for the challenge at hand.

“In each moment, I was always able to identify someone who, even if they haven’t gone through the same experience, had some knowledge that they could share with me on how I can navigate that moment.”

An important mentor for Bass was a manager she sought guidance from during her first pregnancy.

“When I first found out I was expecting I was excited because it was what we wanted, but when it became a reality, I got very nervous and scared. I was grateful that I had this ‘maternity mentor’ that I could go to and ask questions about, ‘How do I communicate this to the team? How do I prepare to be out? How do I operate when I get back?’”

Now a mother of five, Bass knows what it takes to transition back from maternity leave. She advocates for taking advantage of the support that’s around you and feels fortunate that at Goldman Sachs they have resources like backup childcare and lactation rooms to help support working parents. She has learned that it is important to, “be willing and open to taking on that help because I think a lot of times people feel like they need to be able to do everything. And you really don’t.”

Run Your Own Race at Your Own Pace

Along the path of her career, Bass found a mantra to keep her grounded: “I need to run my own race.” She notes that it can be easy to get distracted trying to keep up with everyone around you, but in the end, you must prioritize what is important to you professionally and personally.

“It’s fine to look to your left and look to your right, and that will give you some sense as to what might be important to you, or a goal you might want to set for yourself, and that’s fine. But don’t get caught up in the competition of it all.”

Part of setting your own pace is creating boundaries and sticking to them.

“You have to be clear on setting boundaries and priorities. Any organization is going to take all that you’re willing to give, so it’s up to you to be the person to set those boundaries for yourself. It doesn’t mean that you’re not going make sacrifices or that there will not be this push and pull constantly, but each time that happens you need to be very thoughtful about whether it’s the right trade-off.”

Showing up with Authenticity

Living her life at her own pace is an example of how Bass shows up authentically and pushes for things that she values in a genuine way.

“I’m a Black woman who is also a mother and a wife to my husband. I have all these different ways that I define myself, and I bring all of that to all the spaces that I enter.”

Bass believes it is important to show up authentically as it sets the tone for those coming up behind her.

“It’s simple things. For example, how I wear my hair at work sets the tone for other young Black women coming into the organization. I’ve had people ask me, ‘is it okay to wear my natural hair?’ I’ve never given myself the title of cultural or diversity change agent, but it is this notion of showing up authentically to the spaces that I occupy, that I hope allows this shift or change to happen naturally.”

From her enthusiasm, Bass clearly brings her whole self as much to her personal life as she does her professional. A mother of five with an engaging career, Bass admits that these days her leisure time is devoted to her family, particularly as her two eldest children play on travel soccer teams. Calling herself a “budding soccer mom”, Bass expresses joy in having the opportunity to take her children to practice and shouting from the sidelines when they play in tournaments.

By Jessica Robaire

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Leveraging a Bicultural Background and “Celebrating” Diversity: Akiko Koda’s Story

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Akiko KodaThe chief of staff for Japan discusses her time at Goldman Sachs and shares career advice in the latest edition of The Glass Hammer.

“I have a bicultural background – I lived in Queens, NY until I was 10, and then my family moved back to Japan, where I have lived ever since,” shared Akiko Koda, chief of staff for Goldman Sachs in Japan. “I was motivated to apply to Goldman Sachs due to my prior experience growing up in both the US and Japan – I thought I could contribute in a unique way to a global firm and serve as a facilitator between both cultures.”

Koda joined Goldman Sachs as a campus hire in 1994, initially within the Equities Division, as a member of a sales trading team. She gained seniority and held numerous roles within Equities, before moving to the Financing Group within the Investment Banking Division (IBD). In 2008, Koda joined the IBD Advisory Group, and then transferred to the Executive Office in the midst of the financial crisis. At that time, she began her current chief of staff role, and now also serves as co-chief administrative officer for Japan and head of Human Capital Management in Japan.

“My day to day role is focused on ensuring that the Japan office is running effectively and efficiently in all aspects,” Koda said. “Looking ahead, the office will be moving to a new building in the coming years, and we’re excited about further growth in the region – particularly following the launch of the Goldman Sachs Bank USA Tokyo branch earlier this year.”

As the new year begins, Koda shared that she typically selects a word to help lead and rally her team around, noting that for 2022, she selected “Focus.” “I believe that by focusing and prioritizing our work and the output, we can continue to make progress,” Koda said. “Given we have now entered the third year of the pandemic, I think it is important to focus on what we can control, rather than what we cannot, and focusing on what is important to you and on what brings you joy during this challenging period.”

Supporting Goldman Sachs’ Focus on Recruiting, Retaining Talent

Commenting on the firm’s focus on recruitment, Koda shared: “Our Japan entity was voted the ‘Best Financial Firm to Work For’ by both potential campus hires and former employees.

This is an incredible recognition of our business over the last 45 years.” She added: “The firm has a long history of hiring campus hires who go on to lead the business – several members of the Japan leadership team are campus or MBA hires.”

Koda noted that her own experience at the firm has included extensive, firm-provided coaching. “I was a member of the firm’s first class of VP LAI, or Vice President Leadership Acceleration Initiative, in 2004. Participating in the program helped me to understand how I could be a better leader,” she said. “Throughout my time at the firm, I’ve asked Pine Street, the firm’s leadership development group, to help me evolve my leadership style, and received a lot of helpful and candid feedback from my coach.”

She noted that during her time at Goldman Sachs, she has aimed to pass along the guidance she has received over the course of her career by serving as a mentor to others, both to individuals based in Japan, as well as those in other countries. Koda notes that she regularly reminds junior professionals of the importance of soliciting feedback and guidance from a variety of mentors: “Think of your mentors as your Board of Directors.”

Koda also shared that mentors, managers and colleagues have all helped her progress throughout her tenure at Goldman Sachs. “I haven’t come this far in my career without the help of many people – I’m incredibly grateful to those who have helped guide and support me throughout my time at the firm.”

Finding Time For Herself – and Her Community

Koda shared that after being at the firm for several years: “I burned out in 1999. I needed to take a break, and left the firm for a year, and then returned to Goldman Sachs.” She
reflected on guidance she received later on in her career, which has continued to shape her approach to work: “A mentor advised me to be ‘relentless about managing my schedule, and to feel empowered to make my schedule my own.’”

“That advice has stayed with me, and I would recommend others really understand their limits and priorities. You need to take control of your calendar to prioritize what is important for you at each moment. For me, that’s my family,” shared Koda.

Throughout the pandemic, Koda has focused on spending time with her sons – who are aged 8 and 10 – and training their new Pekingese that they welcomed during the pandemic. In addition, she has a “green thumb” and tends to several orchids that call her office home. “When I became a board member of the firm’s Japan entity, I was gifted several orchids from clients – I’m lucky that they continue to bloom each year and remind me of that important
accomplishment.”

Outside of her day to day responsibilities, Koda is also a managing director ally of the LGBTQ+ Network. “When I lived in New York, there were only a handful of Asian students in my school – I was different,” she said. “When my family moved back to Japan, even though I looked like my classmates, I was labeled as a ‘returnee’ and considered not Japanese enough. To fit in, I tried to hide the fact that I grew up overseas.”

Koda noted: “I know firsthand how hard it can be to be considered different. I continue to be an ally to the LGBTQ+ community because it’s so important for each individual to feel comfortable bringing their authentic self to the workplace, and to be welcomed.”

She described the progress the firm has made in fostering an environment where all diverse individuals can succeed, and highlighted as one example the variety of events the firm’s LGBTQ+ Network holds each year, including celebrating Pink Friday. “As a Japanese woman, who grew up in the US and became a devoted ally of the LGBTQ+ community, I feel my own identity and experiences touch on so many aspects of diversity. I want to celebrate them all.”

Learn more about Goldman Sachs’ recent awards and recognitions and the firm’s diversity and inclusion efforts. Listen to an Exchanges at GS podcast, in which Koda discusses the evolution of LGBTQ+ rights in Japan and companies’ efforts to create more inclusive environments.

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“Be Present and Be Bold” – Advice From Nicole Pullen Ross, PWM Partner, Goldman Sachs

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Nicole Pullen Ross“For two years in my bathroom, there was a post-it on my mirror that said “Partner,” shared Nicole Pullen Ross, region head of the New York Private Wealth Management (PWM) business at Goldman Sachs. She also leads the PWM Sports and Entertainment Solutions (SES) offering.

Ross, who was named partner in 2020, said of her experience being promoted: “My career has been focused on working hard for our clients and our business. To be named partner in 2020, and recognized and rewarded for my hard work and dedication to the firm, was an extraordinary accomplishment.”

Identifying a Need – and Founding a Specialty Offering

Ross, who joined Goldman Sachs in 1999 after a stint at JP Morgan and business school, was focused on advising individuals and families within PWM. Over the course of her career, she honed her skills as a Private Wealth Advisor (PWA). Ross now serves as region head of the New York PWM business, and in 2018, led the effort to found the PWM Sports and Entertainment Solutions offering.

“We founded the offering with the aim of supporting the complex financial needs of athletes, entertainers and those in the industry,” Ross said. “We were confident Goldman Sachs could provide differentiated services and advice to this unique client group.”

“I always remind myself what a privilege it is to be busy doing such extraordinary work with so many incredible clients,” Ross said.

The Importance of Being “Bold” and Investing in Women

As she gained seniority throughout her career, Ross became aware of what an important role being “bold and confident” has on an individual’s career. “When I began my career, like many women, my confidence was tied to how much I thought I knew about a topic,” she said. “Now, I appreciate that there is a combination of things that are important – you have to be excellent and be a content expert, but you also need confidence in your own voice, be present and be bold, in order to be seen as a leader.”

PWM’s launch of WRAP – or Women Reaching Accelerated Potential – was referenced by Ross as one way in which the business aims to support women’s career growth. “WRAP was founded by women within PWM, for women within PWM, with the goal of helping more women become successful PWAs,” Ross said. “By connecting participants with senior PWA mentors and other senior individuals across the firm, and equipping them with the skills to be successful, we’ve had great success.” She noted that “some of PWM’s most successful advisors” are WRAP alumnae.


Ross added that as a partner, she also serves as a mentor to a greater array of individuals across the firm. “The expectation from colleagues that they have access to leadership is one of the things that is special about Goldman Sachs,” Ross said. “The opportunity to engage with more junior members of the firm and provide advice and perspectives to more people is one of the most rewarding aspects of my transition to partner.”

Delivering One Goldman Sachs to Clients

Commenting on her team’s focus on delivering “One Goldman Sachs” to clients, Ross said: “I’m very excited about the work we’re doing across the firm tied to the One Goldman Sachs initiative. We aim to bring one firm to our clients, with a seamless approach in terms of how they receive advice and guidance.”

Within PWM, Ross also shared the business hopes to “extend a sense of familiarity and community among our clients” and cultivate “authentic, trusted relationships” in order to best serve them. She noted that PWM is doing this in several ways, including by developing tailored initiatives to target select client groups.

Ross referenced the recent launch of In the Lead, a platform providing insights, resources and advice to empower ultra-high net worth women to take the lead in their wealth, philanthropy and legacy as one such initiative. She also mentioned PWM’s focus on inclusive wealth, in which the firm aims to be the advisor of choice for diverse clients. “We want to ensure that our clients feel our platform and advice is aligned to and supports their diverse interests and needs,” Ross said.

Beyond the Day-to-Day

Ross also serves as the Americas head of the firm’s Black Network. She noted the network works alongside groups throughout the firm, including Human Capital Management. The Black Network “strives to accomplish important work related to the recruitment and retention of Black professionals at the firm,” Ross said. “I’m encouraged to continue this work, particularly as the firm just announced our most diverse managing director class ever – but there’s still more work to be done.”

Outside of the office, Ross prioritizes spending time with her family. “Our hobby is being together – my children are teenagers now, and I know they’ll be off to college in a few years,” she said. “Throughout the pandemic we were able to maximize our time together, which I really valued, and continue to do so even as things are opening back up again.”

In addition, Ross serves on the Board of Trustees of the Brookings Institute, Hampton University and the United Negro College Fund.

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“Knock Again When a Door is Shut” – and Other Lessons We Learned From 10,000 Women Graduates

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10000 WomenIn the May edition of the Glass Hammer, participants in Goldman Sachs’ second annual 10,000 Women Growth Fellowship reflect on their entrepreneurial journeys, and Asahi Pompey, global head of Corporate Engagement, shares why supporting women entrepreneurs is of the utmost importance to the firm.

In addition, Goldman Sachs women vice presidents and associates selected to be 10,000 Women champions – serving as mentors to the Growth Fellows – discuss why they wanted to become involved in the program. 

Learn more about Goldman Sachs 10,000 Women program, a global initiative that fosters economic growth by providing women entrepreneurs around the world with a business and management education, mentoring and networking, and access to capital.

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10,000 Women Growth Fellows – entrepreneurs who previously participated in the 10,000 Women program and who were selected to participate in a series of training, networking and coaching sessions with senior leaders across Goldman Sachs – shared their experiences building businesses from the ground up and challenges they’ve overcome:

Amanda Obidike, founder of STEMi Makers Africa from Nigeria: “I come from a community where women are afraid to dream, they are afraid to excel. From this background, it has been a challenge – sometimes you don’t get the same types of partnerships, or opportunities because people ask, ‘how are you, as a woman, managing this organization?’ Amidst these hurdles, I’ve learned resilience, I’ve always learned to knock again when a door is shut.”

Raquel Molina, founder of Futuriste Tecnologia from Brazil: “I have always done things that were considered ‘for boys.’ When I began in the drone field and started Futuriste Tecnologia, people were surprised to receive information about drones from a woman. In situations where we are questioned about our expertise, we need to keep calm, share our knowledge and show that we are experts. Slowly but surely, people are beginning to understand the importance of women in the workplace.”

“When we provide tools to women entrepreneurs, we’re not only helping to elevate their business, we’re also elevating their communities,” said Asahi Pompey, global head of Corporate Engagement. “Goldman Sachs is proud to have supported more than 10,000 women throughout the world – and countless communities – since the program’s inception in 2008.”

Goldman Sachs women serving as 10,000 Women champions, a role in which they serve as mentors supporting the entrepreneurs throughout their fellowship, shared why they were driven to participate in the program:

  • Wendy Emali, Risk Division, Dallas: “I grew up in Kenya, where many of these 10,000 Women graduates are from. I empathize with their stories, many of them who have very difficult pasts but very bright futures. When a woman thrives, her community thrives, her family thrives, the economy thrives. All it takes is to give them support.”
  • Rebecca Simon, Investment Banking Division, New York: “When you’re in the very early days of building a business, you have to wear a lot of different hats. The best part of that is how much you learn. You learn all of the factual things that may be required of your business or your industry, but you also learn invaluable skills, such as rallying people around your vision and staying grounded when things feel bigger than you can manage. These are all things our Growth Fellows excel at and are things we can learn from them.”
  • Georgia Weeks, Global Markets Division, Sydney: “I thoroughly enjoy building relationships with other commercially-minded women and sharing my experience and insights. Not only is it important to me for women to be financially independent, but to really pursue something that you love. Not so long ago, I became a single mother when my son was only a couple months old. I cannot tell you how lucky I was, to be in a position where I could not only stand on my own two feet, I could support the two of us, but I could get out of bed and do something that I love.”
  • Lara Tijani, Internal Audit Division, London: “Growing up in Lagos, Nigeria, entrepreneurship is a way of life. But like many other countries in the world, women are underrepresented and disproportionately impacted, with limited access to funding and gender bias. Programs such as 10,000 Women can help change this.”

Learn more about the Goldman Sachs 10,000 Women program.

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Caring for Children With Learning Challenges as a Working Parent

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Erin Garcia

In this Q&A, Erin Garcia, a Vice President in Controllers in Dallas, shares how she supports and advocates for her two sons while working at Goldman Sachs.

What are some of the obstacles you have encountered managing both your sons’ learning challenges?

Erin: One of the greatest challenges was explaining to each of my two sons, Cason and Cohen, how their learning and mental health challenges differentiate them from their classmates.

After his dyslexia diagnosis in second grade, Cason began losing self-confidence in reading. I explained to him that his brain is unique and that there is a special way to teach him, and we were making sure he got the specific help that he needed. Since he is a big sports fan, it helped to point out some successful athletes also happen to be dyslexic.

Cohen, on the other hand, didn’t want special attention. He didn’t want to make a big deal out of his having ADHD, nor did he want to be pulled out of class like his older brother.

Listening to their concerns helped me address their needs, advocate for them successfully, and get them both the help they needed.

What have you learned about yourself through these experiences, including most recently during the pandemic?

Erin: Before receiving their diagnoses, my children and I had a number of arguments because I thought they were being lazy with school and didn’t want to try hard enough. Once we received their diagnoses, I felt badly for having been so hard on them. I learned to be more patient.

In the early stages of the pandemic, we just tried to survive! Toward the end of the school year, there wasn’t a lot of structure so it was a “work on your own pace” sort of schedule. We fit in school whenever we wanted, which was helpful for me as I was balancing my own responsibilities in the Fund Accounting department. Once the current school year began, there was more of an adjustment.  The boys have a firm schedule to follow and have to be present in live and virtual meetings with their teachers for most of the day.

We have to do what is best for our family, and every situation is different.

How do you ‘recharge’ your batteries to meet the competing demands of work-life-parenting, and what advice would you share with other caregivers?

Erin: I talk to my friends who are also mothers, and colleagues and mentors who have experienced similar situations. My oldest started middle school this year, which has been a big adjustment. We are all navigating unchartered territory these days, especially working parents. The more we share our stories with each other, the more we feel like we are not in this alone. We are all doing the best we can.

I also have to remind myself that I need a break sometimes, and that’s okay. Everyone should take things one day at a time. Some days are good, but then you will occasionally have that rough day where a progress report comes home reflecting a low grade in a class. Our kids need to know that they are accepted and loved by everyone around them, on good days and on tough days.

How have you managed conversations with colleagues at the firm about your experience as a caregiver?

Erin: For me, honesty is the best policy. A lot of my colleagues have younger children, so these days I try to regularly check in (and made a point to do so when everyone went exclusively remote for work) and continue to be an advocate for working parents.

What would you like people to know about what it’s like to care for loved ones with mental health or learning challenges?

Erin: I think the more we talk about it, the more we educate everyone around us. It was important to me to explain to my oldest son that there is nothing wrong with him. He is intelligent. Once he understood that, he gained the confidence he needed and started engaging more in school.

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What’s Your New Year’s (Career) Resolution for 2020?

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Happy New Year 2020 featuredLast December, Goldman Sachs named nearly 1,500 individuals vice presidents and executive directors, in recognition of their leadership and contributions to date. As they embark on this next step in their careers, the firm’s Human Capital Management Division is hosting Vice President Orientation in February across regions – a one-day immersive program to accelerate their transition and increase their impact in their new roles.

Since theglasshammer is the online community designed for women executives in financial services, law and business, we asked new members of the Vice President and Executive Director Class of 2019 to share their New Year’s “career resolutions” in advance of the start of orientation:

Kristen Askin, Securities, New York: My career goal in 2020 is to empower my client base of institutional investors to be connected to Goldman Sachs more holistically, by introducing them to new parts of the firm and helping them to achieve their business objectives. To do this, I am excited to work together with my peers in other businesses by strengthening our relationships and learning from their expertise in other areas across the firm.

Natalia Barrey, Tax, Sao Paulo: My resolutions as a first year vice president are to continue to develop my management skills and leadership, and have a more strategic corporate viewpoint to help keep all members of our team informed and engaged, as well as to expand my contributions as a part of the Lesbian, Gay, Bisexual and Transgender Network.

Maya Bradshaw, Services, London: I’ve never really been one to set New Year’s resolutions (previously they have been too lofty to be attainable), but this year I have challenged myself to commit to a number of micro-habits designed to strengthen my mental and physical resilience so that I am well positioned to meet the challenges of being a newly promoted VP. These resolutions include goals such as taking the stairs to meetings on other floors, making time to be “mindful” and setting (and sticking to) my non-negotiables.

Elsie Cheng, Global Investment Research, Hong Kong: I hope to ride the frontier of technological innovation in China, continue to generate impactful ideas that align with the firm’s goals, add value to the franchise, and aim to have fun at the same time.

Kiley Colston, Controllers, Dallas: As I step into my new role this year, I plan to focus on two things: making a maximum impact and maintaining a work/life balance. These seem so simple, but showing up to work every day with an open mind, eager to step out, stretch yourself, build up others and develop new skills, all while prioritizing and carving out time for family and friends, comes with clear intentions, persistence and dedication.

Johannes Hahn, Investment Banking, New York: My career resolutions for 2020 are twofold: On one hand, to grow our risk management business, with particular focus on middle market clients in the context of the Investment Banking Division’s ‘Cross Markets Group’ initiative as well as across a variety of products, including the firm’s new transaction banking platform. On the other, to use the learnings from my own progression at GS from analyst to vice president across different teams and geographies to mentor our junior bankers as they develop their careers.

Archa Jain, Investment Banking, Mumbai: I would like to take complete ownership of execution of the projects I’m working on, expand my existing network and deepen client relationships to be able to source new business opportunities for the firm. In addition, I want to play a meaningful role in team-building and mentoring junior individuals.

Anna Jeschke-Chin, Corporate Treasury, New York: In 2020, I am looking to share knowledge beyond my immediate team. Information is currency, and sharing relevant information with people in other parts of the firm will keep you on their radar and might just lead to being included in exciting new projects.

Kahena Joubert, Merchant Banking, New York: My 2020 resolutions are to maintain the high levels of energy and strategic focus that I had last year, identify and excel at opportunities to be a leader, and give myself the time I need to successfully plan and enjoy my October wedding.

Christian Manion, Corporate Treasury, Salt Lake City: In 2020, I want to focus on long-term career ambitions and align my short-term responsibilities and goals towards those. I want to pay it forward by making a conscious effort to share my perspective with the team, help align goals, and pass along the lessons I continue to learn.

Leslie Odamtten-Addy, London, Internal Audit: In 2020, I will be moving to our Frankfurt office from London. A resolution of mine is to assimilate into the culture and environment of the Frankfurt office (which also includes learning German), while also maintaining connectivity to regional headquarters. Another goal is to invest in relationships and provide mentorship. I have been very fortunate to have had a number of wonderful mentors throughout my time at Goldman Sachs, and have learned the value of investing in key relationships across levels of seniority and the benefits of mentoring others on your own thought process and ability to be a more effective people manager.

Jade Trusty, Compliance, London: This year, I hope to accomplish the following:

  • Learn to code – given the increasing importance of technology and automation in everything we do both inside and outside the workplace.
  • Be uncomfortable – challenge myself to step outside of my comfort zone more frequently. In Shonda Rhymes’ words, make this the “year of yes.”
  • Increasing my connectivity – grow my network within the firm and across the industry by interacting with individuals outside my immediate circle. This will help develop my communication style and strategic thinking.

Anne Shapiro, Consumer and Investment Management, Washington, DC: As I begin 2020 with a new title and additional time demands, my career resolution for the year is to build time leverage for myself. From taking advantage of new firm technology, to delegating more, to drawing on the Eisenhower Matrix for organizing priorities (and applying any other tips my colleagues might recommend!), I aim to maximize my productivity to serve clients better and grow my commercial impact.

 

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The “Big Rock, Pebble, Sand” Analogy – and Other Tips for Success

Holly Batchelor-Anisha George-Meyanna Jiang

Meyanna Jiang, Anisha George, and Holly Batchelor

Three colleagues on growing as a leader, connecting with mentors and “managing up.”

In the December edition of The Glass Hammer, three colleagues at Goldman Sachs delve deep, sharing their best practices for success – ranging from thinking strategically and helping to further their teams’ goals to balancing competing priorities and “managing up.” Meet the interviewees and hear their take:

· Holly Batchelor is a vice president in Securities, based in Hong Kong

· Anisha George is an associate in Compliance, based in Bengaluru

· Meyanna Jiang is a vice president in Controllers, based in New York

Reflecting on your career at Goldman Sachs to date, what advice would you share with individuals just starting out?

· Meyanna: Be curious in your work, and look for ways to keep yourself challenged. I try to do one thing that scares me each week, whether it be public speaking, or volunteering for a project that I might not know much about.

· Holly: The ability to grow and nurture your network is invaluable – you might not realize it now, but the people you work with and get to know at the beginning of your career can be hugely influential and helpful later on.

· Anisha: I have found that projects others were not interested in working on ultimately had the biggest impact on my career. In addition, I would remind others that each individual has a unique journey – everyone’s path to success is different. I have learned to find joy and meaning in my own journey by setting personal goals and working to achieve them.

What actions do you take throughout your day to ensure you’re best helping your team and furthering its mission and strategy?

· Holly: I try to share as much information as possible with my team and keep everyone in the loop. Work is more enjoyable and fulfilling when you know why you’re working on a task, and are aware of the strategy you’re helping to implement.

· Meyanna: When I introduce a new project or task for my team, I aim to provide sufficient context by explaining how this deliverable supports our firmwide or divisional strategy.

How do you allocate time for both strategic thinking and execution in your role?

· Holly: Knowledge is power. Having a sense of what the market looks like and what our competitors are doing allows me to develop a strategy for my team and our plan for execution.

· Meyanna: I like to think of this as “zooming in” and “zooming out.” If the CEO stopped by your desk while you were in the middle of analyzing millions of rows of data and asked, “What are you working on?” how would you respond in a sentence or two? This exercise helps me think strategically.

What recommendations do you have for balancing competing priorities?

· Holly: To-do lists! It’s important to stay on top of priority projects, even as things pop up that require immediate attention. I often use the “big rock, pebble, sand” analogy when thinking about what I need to set aside time for: the big rocks are my major tasks and strategic initiatives, the pebbles are shorter-term tasks of lesser importance, and the sand is minor tasks that aren’t essential to my success.

· Meyanna: Stay organized, whether it’s adding calendar reminders, writing to-do lists, or color-coding emails to help you stay on track. I also remind my team that it’s okay to push back on requests or to say “no” when needed. Unless you speak up, no one will know that you need help.

· Anisha: It’s important to remember that having a fulfilling life outside of work helps your career and your work product. It might seem unrelated, but I think you can bring a more positive energy to the office when you have personal interests that also motivate you.

Any lessons learned on the importance of delegating?

· Meyanna: I’ve learned that the worst thing you can do as a manager is to delegate a task and then take it back, because this demotivates the team and makes them feel like their work is not valued. I’ve also learned that I need to provide “air cover” and give enough space for my team members to fail safely.

· Anisha: I used to dislike delegating because it required me to put in extra time and effort, but over time I realized that I would not be half as successful as I am today if every leader who invested in me had felt the same way about delegating. You can’t lead if no one is following.

· Holly: Delegation gives you the capacity to stretch further to build your business, and it allows you to effectively train and coach the colleagues whom you are delegating work to. Delegating work to others also allows for greater diversity of thought and experience, which often leads to better solutions.

How do you “manage up” with senior stakeholders?

· Anisha: Before meeting senior stakeholders I make sure to always prepare – people want to feel that their time is being valued, and adequate preparation helps shape and inform your conversation. When you have a strong agenda and follow-up plan when connecting with stakeholders, “managing up” just happens.

· Holly: First, you need to identify who your stakeholders are and what is important for them. Then, determine how they like to be kept up to date – do they prefer face-to-face catch ups, e-mail summaries, a full business plan? Adapting your style to match theirs will have much more of an impact.

Do you have a mentor or sponsor? If so, how do you make the most of your conversations with them?

· Holly: I have mentors within and outside of the firm that I often reach out to for advice. I put notes in my calendar to schedule catch-ups with them in order to nurture the relationship, just as you would with a client or stakeholder in your business.

· Meyanna: I have relationships with both mentors and sponsors, and many of these connections have formed organically. Managers can be a great resource, too – they have introduced me to contacts in their networks. Prior to each conversation with them, I write down a few topics for discussion, such as challenges in my day job or planning for the next step in my career.

· Anisha: I have more than one mentor because I value receiving guidance from different stakeholders. My mentors have diverse perspectives and push me to evaluate situations in different ways.

Have you participated in mobility? Do you have any advice for colleagues interested in either switching roles or offices?

· Meyanna: If you are exploring a role switch, raise your hand. Mention to your manager or mentor that you are interested in learning more about a certain business or working in a different location. It is easier for them to help you if they know your interests. In the meantime, continue being a rock star in your current role and look for ways to give yourself exposure to areas you are interested in.

· Anisha: I recently accepted a new role in Goldman Sachs Asset Management and will be relocating from Bengaluru to Dublin in January. The best advice I received when I was considering mobility was to focus on “What?” and “Why?” – meaning, “What do you want to do long-term?” and “Why do you want to move?” Once you have answered these questions, your options will become more clear.

Do you have a personal development plan to keep yourself accountable?

· Meyanna: I recommend writing down your goals. My last set of short- and long-term goals were written on a post-it note stuck to a bar of chocolate. (My team knows I always keep chocolate at my desk.) As I slowly finished the chocolate bar, I found that I was able to complete my goals over time. In addition, I find that it is helpful to share your goals with a buddy, who can help hold you accountable.

· Holly: In the early stages of my career I didn’t have any plan other to absorb as much information as possible. That hasn’t changed, but I now also set career goals with deadlines based on discussions I have with my mentors and stakeholders – incorporating their input is important in order to set realistic goals.

· Anisha: I think about where I want to be in one year and in 10 years, and develop my short- and long-term plans to achieve those goals. It’s necessary to also be nimble and update your goals as your world evolves.

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Heather von Zuben, Managing Director, Consumer and Investment Management Division, Goldman Sachs

Heather von Zuben

Armed with a degree from Columbia Law School, Heather von Zuben began her law career advising on mergers and acquisitions and investment management.

However, after an initial period in law, she quickly realized that she was truly interested in being closer to clients and commercial activity.

A Career Change Leads to New Opportunities

“I found the intellectual rigor of legal work very engaging, but I wanted to be closer to my clients’ commercial objectives and help them achieve their goals, so I embarked on a career change,” says von Zuben, global head of Client Portfolio Solutions within the Alternative Investment and Manager Selection Group (AIMS). “I ultimately pursued a role at Goldman Sachs because the people I met at the firm were so dynamic and had such impressive arcs to their careers. I was excited to be a part of that and learn from them.”

Von Zuben initially joined Goldman Sachs in the Alternative Capital Markets (ACM) Group, which is responsible for product development, pipeline generation and engaging with Private Wealth Management clients on alternative investments and private placements. She was named the head of the ACM Americas business in 2014. “ACM is a fast-paced environment, and during the decade that I was a part of the team, we adapted and grew the business through significant change in client demand and market dynamics,” says von Zuben. “It was a great place to start as it gave me insight across a broad array of alternative investments as well as exposure to many different parts of the firm.”

Last year, von Zuben was named to her current position leading AIMS Client Portfolio Solutions, a self-described “stretch role” that allows her to engage with and support institutional and private wealth clients across both alternative and traditional asset classes. “As an open-architecture, multi-asset class platform, we’re able to partner with a wide range of clients collaboratively to identify their opportunities and challenges and leverage our broad range of solutions to help them achieve their unique goals,” she explains.

One of von Zuben’s current focuses is Launch With GS – Goldman Sachs’ commitment to invest $500 million in women-led companies and investment managers. In her new seat in AIMS, von Zuben introduces clients to the Launch With GS initiative and resources available across the firm as they think about integrating diversity and inclusion into their investment programs. “We think investing in diverse teams is a compelling investment proposition because diversity of thought and background leads to better decision making, and can drive outperformance and growth for our clients,” says von Zuben. “When we’re discussing Launch With GS with clients, we also have an opportunity to engage on the firm’s broader diversity and inclusion efforts as well as our clients’ diversity and inclusion objectives.”

Seeking Feedback From Others to Grow

“I’ve benefited greatly from the guidance of many mentors and sponsors over the course of my career, and I put a lot of energy into paying that forward by mentoring and engaging with the people on my team and throughout the firm,” says von Zuben. “I love connecting with the amazing people who work here: getting to know them, what motivates them, and helping them think through how to achieve their goals.”

Von Zuben recommends junior professionals develop deep relationships with others, both within their own organization and on the client side, to solicit feedback, achieve their full potential and grow as leaders. “At the beginning of my career, I was focused on executing at the top of my game more than identifying ways I could help my team be more impactful. I needed to evolve my role from that of an executor to a leader,” says von Zuben. “As I sought feedback from colleagues, I realized the importance of making that transition and adopted leadership styles and qualities from senior individuals who I admired in order to help shape, develop and define my own brand of leadership.”

Today, von Zuben continues to mentor and develop programming for colleagues across Goldman Sachs in her role as co-head of the Firmwide Women’s Network, as well as serving on the managing director advisory board of the Firmwide Hispanic/Latino Network. Her advice to others seeking to grow in their careers includes:

  • Be Confident in What You Bring to the Table: “You have to believe in yourself before you draft others onto your team – don’t waste time doubting yourself; focus on all of the lessons you’ve learned and all of the challenges you’ve overcome to this point to give you the confidence to own your space, contribute to the conversation and drive the business forward.”
  • Focus on Your Mindset: “In a constantly evolving business, change, setbacks and uncertainty are inevitable. You can’t control what comes your way, but you can control how you choose to react to it. A positive, can-do attitude can help you stay motivated, move forward and identify new potential solutions in the face of challenges.”
  • Embrace Opportunities to Step Out of Your Comfort Zone: “Make sure the work you’re doing continues to scale in terms of its impact. Take on new projects and responsibilities when they’re offered to you – even if they might be out of your comfort zone – to continue to learn and grow. ”
    Overcome the Need for Perfection: “Give yourself permission to make mistakes and to fail – if you’re waiting to be ‘perfect’ then you’re probably moving too slowly. Don’t dwell on things that don’t go your way – put your energy into finding a solution, learn the lesson for the future and move forward.”
  • Manage Your Brand: “Be deliberate and self-aware of your brand by seeking feedback from colleagues and executing on it in order to ensure that your perspective aligns with how others see your contributions.”
A Focus on Family

When she’s not in the office, you might find von Zuben cheering on her two daughters on a soccer or lacrosse field in or around New York City. “I spend every minute that I can outside of the office with my family,” she says. “We spend a lot of time exploring all that the city has to offer, from restaurants and museums to picnics or ice-skating in Central Park.” Both von Zuben and her husband are the children of immigrants, and they place a premium on traveling together as a family: “It’s important for us to take our daughters to see different parts of the world and experience different cultures to broaden their perspectives, plus we’ve had some amazing adventures together.”

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Voice of Experience: Kathy Matsui, Vice Chair, Global Investment Research, Goldman Sachs

Kathy MatsuiIn the years since she was first profiled by The Glass Hammer in 2013, Matsui’s role at Goldman Sachs has evolved – while she continues to focus on Japan portfolio strategy, she also serves as vice chair of Goldman Sachs Japan.

Her responsibilities in this role include representing the firm in various external activities, including serving on government advisory committees and speaking at conferences, where she is regularly asked to comment on Japan’s stock market and macro economy. However, Matsui notes that “the main core of my job hasn’t changed – I still publish research and meet with clients regularly.”

During her undergraduate years at Harvard, Matsui developed an interest in international affairs and government policy, and initially planned to pursue a career in the foreign service. After her first internship experience within the Bureau of Intelligence and Research of the State Department, she earned a master’s degree from Johns Hopkins University, spent time in Japan where she met her husband, then worked for several years at Barclays de Zoete Wedd in investment research before joining Goldman Sachs in 1994. Commenting on the arc of her career to date, Matsui says: “Despite giving up on the foreign service, my career as a research analyst has ironically allowed me to make a contribution to the gender diversity movement in Japan and help drive change in this important space.”

The Worst Advice I’ve Ever Received

As a junior analyst, Matsui was told to ‘work hard, keep your head down, and you will go far.’ Today, she says: “This was the worst advice I could have been given as a woman just beginning her career, but when I first began working the idea that an ‘invisible hand’ would simply promote you was widespread.”

Matsui recommends that junior women focus on doing their job well, but also engage in networking in order to educate senior stakeholders on their role. “Aside from excelling in one’s job, women need to also identify mentors, connect with others across their organization, and share their accomplishments.”

Overcoming Unimaginable Obstacles

A year after making partner at Goldman Sachs, Matsui was diagnosed with breast cancer at the age of 36. “I had no symptoms, and I was in denial that I was sick – with two young children at home,” she says. “I took eight months off work for surgery, chemotherapy and radiation, and during this period my family and I felt the full support of the firm. This level of support is one of the reasons why I’ve been at Goldman Sachs for 25 years.”

Empowering Other Women to Succeed

In addition to the research she conducts tied to women in the workforce, Matsui is a board member of the Asian University for Women (AUW) Support Foundation. The Foundation provides funding to AUW, a liberal arts, women-only university in Bangladesh that educates individuals that are the first to attend college in their family.

“Working with the AUW ties into my personal passion for women’s empowerment, and the key to empowerment is education,” she notes. “If you want to effect change and take on a leadership role in your community, you really need to have a tertiary education beyond secondary school – and this university is helping empower women around the world.”

Evolving Role, Evolving Research

Matsui, who was ranked number one in Japan Equity Strategy by Institutional Investor multiple times, initially became interested in examining the demographic challenges Japan’s economy faced after seeing many of her peers remain at home after having children. “Japan has faced acute challenges because there are widespread unconscious biases and gender role stereotypes throughout the country,” explains Matsui. “I experienced this firsthand when a lot of my Japanese friends who were new moms did not return to work in the same way I did due to various factors.”

Matsui thus began to delve deep into the “structural challenges” that were affecting the Japanese economy, including identifying potential solutions that could be enacted by the government to spur greater female representation in the workplace. In the initial 1999 Womenomics report, Matsui and her team recommended the government institute enhanced labor laws, expand childcare facilities, and revise the tax structure, while corporations should provide additional childcare support and clear maternity leave policies. In addition, Matsui called on ‘male champions’ and other women to make it more “socially acceptable to participate in the workforce while having a family.”

In Womenomics 5.0, Matsui revisits the progress that has been made in the last 20 years to boost female workplace participation in Japan, noting that the participation rate has increased to 71 percent, surpassing that of the US (66 percent). In the report, Matsui again makes recommendations for the public and private sectors, as well as society overall:

  • Government policy: more flexible labor contracts, gender pay gap disclosures, tax reforms, parliamentary gender quotas, promotion of female entrepreneurship and looser immigration rules.
  • Corporations: proactive career management, more flexible work environments, performance-based evaluations, gender target-setting and male diversity champions.
  • Societal shifts: avoid gender role stereotypes in the media and promote more women in STEM.

Reflecting on the progress made in Japan in the last 20 years, Matsui says: “There have been definite areas of progress, but there is still significant work to do to elevate women into leadership positions.”

Learn more by listening to an Exchanges at Goldman Sachs podcast featuring Kathy Matsui: “Is Womenomics Working?”

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Launch With GS: Lead Investors on Their Investing Philosophy and Keys to Success

Launch with GS
Last month, Launch With GS, Goldman Sachs’ commitment to invest $500 million in women-led companies and investment managers, celebrated its one-year anniversary.

The initiative aims to narrow the gender investing gap and build a global network of business leaders to facilitate connections, share ideas, and uncover opportunities.

Launch With GS was founded based on the view that diversity of gender, thought and background leads to outperformance, driving growth for Goldman Sachs’ clients, shareholders and communities. In this edition of The Glass Hammer, we spoke with three Goldman Sachs partners who are lead investors for Launch With GS on their approach to investing and their advice for entrepreneurs, as well as individuals interested in pursuing a career in investing. Meet the Goldman Sachs investors:

Nicole Agnew is a partner in the Merchant Banking Division and a lead investor for Launch With GS.

Stephanie Hui is head of the Merchant Banking Division in Asia Pacific. She is also on the Board of Advisors of Launch With GS.

Jo Natauri is a partner in the Merchant Banking Division and a lead investor for Launch With GS.

How do you think Launch With GS is helping to change the investing landscape?

Stephanie Hui: It’s not just about supporting diversity, it’s fundamentally good for business to have the whole investing ecosystem become more diverse. As an investor in Asia, I’ve seen that women have a more difficult time accessing capital than male entrepreneurs, and Launch With GS is particularly impactful because it helps transform the whole supply chain – we’re seeking out women entrepreneurs who are high potential and who require funding, but might not have received it through traditional means.

Nicole Agnew: I think it’s a great initiative that the firm has started to support and invest in female-founded and female-led businesses. The inbound interest has been very high, and we’ve seen that a network and community of female entrepreneurs is being developed around Launch – and we hope this ecosystem continues to grow to generate even more investing opportunities for female founders.

Jo Natauri: Launch With GS has helped to raise a level of awareness around the importance of diversity when evaluating potential transactions. Diversity is now a key factor we think about when moving forward with deals.

What factors help you decide to make an investment?

Jo: First and foremost, we evaluate if a potential investment is a good business – we look at industry trends, competitive dynamics, how the business is run, what if any, upsides there are to the business, and support the management team might need from investors.

Nicole: We are generally interested in businesses with a strong financial record, high return on capital, a growing top-line and strong margin performance. As a general philosophy, we love to back excellent management teams, and the talent that a business has is a very important factor as well.

Stephanie: We evaluate potential investments from both a top-down and bottoms-up perspective. Top-down refers to the size of the market, the growth potential of the sector, and the number of competitors and economics of the company. Bottoms-up means that we evaluate the quality of the management team, market positioning of the business, and “moat” around the business (e.g., distinguishing technology).

What advice do you have for people who want to go into investing?

Nicole: People who are happy and fulfilled in an investing role generally have a natural curiosity about businesses and want to go deep to learn how things work. Investing is also a relatively analytical business, so people with an ability to dissect information are more likely to be successful.

Stephanie: You should have a very long-term view if you’re interested in a career in investing, because typically investments take at least five years from gestation to fruition. You have to think about a career in decades – and the good thing about this business is, the longer you’re at it, the better you become as your judgement is refined over time.

Jo: It’s important to have a mix of skills sets. You need both analytical qualities in order to assess businesses, but you also need to be able to work well with others, such as the management teams of businesses you invest in.

What advice do you have for entrepreneurs / individuals interested in starting their own business?

Stephanie: Particularly for female entrepreneurs, it’s important to think big and evaluate how they can scale their business. I would also recommend that entrepreneurs develop a network around them that helps ensure they have support across all different specialties – it goes back to the old saying, ‘hire people who are more capable than yourself.’

Jo: The key is to remain open-minded, pay attention to how your industry is changing, and be able to adapt, particularly as technology continues to alter businesses.

Nicole: Number one, you have to be very passionate and ensure you’re well prepared to start your own business. In addition, people who are able to adapt and be flexible in their thinking and approach seem to be more likely to succeed.

What do you look for in a founding team?

Jo: Leadership teams that have a long-term vision and are able to execute on that vision are typically teams that we’re most interested in. It’s also important for management teams to be flexible and adapt, because every industry is constantly evolving and changing.

Stephanie: Being humble, down to earth and hard-working are characteristics we look for in founding teams. Complementary teams that are able to share feedback and have honest conversations with one another tend to be the teams that succeed.

What interesting market trends are you seeing / what opportunities do you expect?

Nicole: The traditional aspects of consumer and retail are being disrupted by technology and changing consumer preferences – businesses successful in these industries in the past are not necessarily growing today. As a result, we’re interested in companies that are focused on the experiences they’re providing to their customers, as opposed to solely the product.

Stephanie: The digitization of traditional businesses via e-commerce platforms and the availability of data is substantially changing the way we approach, understand and speak with customers. A second big trend is that the younger generation is very formidable in terms of spending. And third, social media is changing purchasing behavior – people now rely more on friends’ recommendations.

What are you passionate about outside of the office?

Stephanie: I have three teenage boys, and they’re my passion and focus outside of the office. I was previously on the board of the Women’s Foundation, which is an organization based in Hong Kong that advocates for the female population and diversity in the workforce in Hong Kong. In addition, I’m on the board of the Save the Children Hong Kong chapter – as a mother of three it’s really important to me that all children have access to opportunities and life changes.

Nicole: I try to live a very balanced life, because working in investing and private equity can take up 100 percent of your time if you allow it. I place an emphasis on spending time with my family and friends and supporting them in all that they do.

Jo: I have three young kids, so my family is top of mind and my top priority. I also spend a lot of time in the nonprofit world around domestic violence – I sit on the board of Safe Horizons and I’ve also started my own foundation that is developing a device to help reduce violence against women, which is in the late development stage.

 

Learn more about Launch With GS.

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