Tag Archive for: goldman sachs

Voice of Experience: Rajashree Datta, Managing Director, Goldman Sachs

Rajashree DattaBy Cathie Ericson

“Focus on the basics, the building blocks and the details when you are starting out because when it comes time for you to be heard, you will have a depth of knowledge to draw upon that will position you well,” recommends Goldman Sachs’ Rajashree Datta.

Achieving Success and Helping Others Do the Same

Datta joined Goldman Sachs after graduating from Amherst College in 2000. Her first position was in the Investment Banking Division, and in 2003 she moved to the Treasury Department. After gaining almost 14 years of experience in the Treasury Department, she recently transferred to the Risk Division, where she now serves as global head of Liquidity Risk. In this role, she is responsible for Goldman Sachs’ liquidity risk management and ensuring appropriate risk levels are established across the firm.

“One of the reasons I have stayed in the firm is that every year I have had the opportunity to do something new: could be a new area of focus, could be a new project, or could be working in a new division. Moving to the Risk Division just continues this theme of embracing new challenges and continuing to grow,” says Datta.

Reflecting upon her previous experiences at the firm, Datta cites the peak of the 2008 financial crisis as a crucial moment: “I learned a great deal in the liquidity space during the financial crisis.” In addition, she notes that this experience crystallized for her the importance of how senior managers engage with their teams during high-intensity periods. “I saw firsthand how senior individuals’ abilities to remain calm improved the clarity of thought and quality of execution of the whole organization,” she says.

She noted that this experience shaped her interactions with her team: “It’s so important to think through how you will manage and behave in a crisis or stressful situation, particularly because junior people will typically follow the actions of senior leaders.”

In addition to serving as a leader for her team, Datta has long served as a mentor to others, and takes great pride in their success. “It has been so impactful to see people on my team be named managing director, because you hope that you contributed a little bit to their success.”

Driving a Career Through Giving and Listening to Advice

Datta notes that over a long career you’ll be faced with both professional and personal challenges, and she recommends that the best way to conquer such issues is to find mentors and peers who can provide guidance.

“I relied on mentors’ and peers’ advice when I began to prepare for my maternity leave,” says Datta. “Being the recipient of others’ perspectives – who reminded me that they have done it before in varying circumstances and with varying strategies – assured me that I would be able to successfully take my maternity leave and return to the firm.” Datta went on to note, “The thoughtfulness of my colleagues during my leave and the support I received after I came back cemented for me how much the firm cared about my ability to seamlessly reenter the workplace.”

Detailed feedback from mentors has also been extremely useful, Datta notes. “You should listen to both positive and constructive feedback, which is a key pillar to developing your skillset. Solicit feedback, participate in tough conversations, and action on constructive comments,” she recommends.

One of the programs within Goldman Sachs that was particularly influential for Datta is the Women’s Career Strategies Initiative, designed for individuals at the associate level. When she participated, she was concerned about her ability to balance family and work. “The program was tailored for my level – allowing me to network with others across the firm – and helped me identify strategies that would help me to be better positioned in my career going forward.”

As a woman in business, she has found that there aren’t barriers so much as challenges, particularly with regard to managing work and home. “It’s an issue that can only be solved individually since there isn’t a master solution that works for everyone,” she says, adding that individuals must evaluate each day, focus on their priorities and what they can realistically accomplish, and ask for help as needed. She notes, “It’s ok to say sometimes that you do not have the capacity to take on an extra project.”

Datta tries to prioritize time with her son, noting: “I try to carve out certain times or events that I don’t compromise on easily. Some days are easier than others but I typically do okay over the course of a week.”

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Voice of Experience: Paula Moreira, Managing Director, Goldman Sachs

Paula MoreiraWhen Goldman Sachs’ Paula Moreira explains the framework that helps her succeed, she references a pyramid, with honesty and humility as key components of the base.

The body and top of the pyramid are driven by effort and personal mission, respectively. Those traits, combined with her drive, have fueled Moreira’s career.

A Career Spanning Regions

Moreira’s interest in finance is rooted in lessons her parents ingrained in her early on. “They taught me how important it is to work hard and dream big to attain financial independence,” Moreira says.

That’s one reason a career in finance had always appealed to her, as she knew that industry would give her ample opportunity to achieve those goals. She studied industrial engineering to develop her technical expertise, and then began her finance career at a French bank. She soon moved to Credit Suisse, which gave her the opportunity to work in New York. “I had always dreamed about working in that important financial center,” she says of her initial move from Brazil to New York.

While in the US, she pursued an MBA at Harvard Business School to complement her technical background with stronger management and leadership abilities. After completing her MBA in 2002, she began working on Goldman Sachs’ Latin American sales desk. Moreira was so excited to get to work that she cut short a vacation and began taking Spanish classes to sharpen her language skills.

She moved back to Sao Paulo in 2010 and has been there since, leading a team focused on serving Brazilian banks, asset managers, hedge funds, pension funds and insurance companies. Moreira has found the most rewarding aspect of her career to be building a successful team who is connected, committed to helping one another and working toward the same objective. Moreira is also fulfilled by providing her clients with superior support and ensuring they achieve their goals.

Identifying Transformative Trends

Currently, Moreira is particularly excited about growth dynamics in Brazil, as the country emerges from a difficult recession. She notes that as part of the cyclical rebound in the country, rates have been cut by more than a half, causing dynamic changes in the market. Moreira explains that significant investments previously allocated to money market funds are now being funneled to alternative asset classes like hedge funds – one of her biggest client bases – as well as investments in structured products and equity. “There is a significant opportunity to capture these trends in a country that is experiencing a big cyclical rebound,” she notes.

Moreira has also been interested in the impact of technology on the trading business, particularly the rise in electronic execution among credit, rates and commodities clients, a trend that has already been incorporated into foreign exchange trading. “It’s important that I connect my clients to our global platforms,” and notes, “I love my job because I’m constantly learning from my clients as well as other GS colleagues.”

Helping Advance Diversity

Last year, Moreira joined the Brazil Management Committee. This is in addition to her responsibilities as co-chair of the Brazil Diversity Committee, and she also previously served as co-head of the Brazil Women’s Network. During her tenure as co-chair of the Women’s Network, she learned firsthand how the network connects individuals and helps attract, develop and retain women. She also greatly enjoyed her role organizing content-rich events for members that were focused on topical issues in the workplace, such as the “confidence gap” many women face.

She has particularly enjoyed recruiting others to pursue careers in financial services by dispelling the perception that it’s hard to be a woman in finance. “It’s important to be present at schools and show people that they can reconcile work with personal lives and having a family,” she says. She hopes that her efforts will help plant the seeds for a more diverse workforce down the road.

“Because of cultural bias, many women lack confidence, and it’s vital to break these barriers and make sure women realize there are no obstacles in what they can achieve,” Moreira says. “I really hope that parents would ask their daughters to complete the same tasks that they ask of their sons in order to instill confidence and ambition in their daughters.”

Asking for Help – and Helping Others

Moreira knows that no one can do it alone, and she has learned to recognize the importance of asking for help and, in turn, helping others. “We often don’t ask for help, even though people feel rewarded when they have the chance to be the helper.” This realization has helped her to be more upfront about asking for support in both her personal and professional life.

She tries to make room in her personal framework for equal focus on family, work, and health, and often tries to organize weekend activities that bring family, friends and exercise together. She is proud of the wonderful family she has built with her husband, three daughters and two stepsons, and hopes she can inspire others.

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Voice of Experience: Elizabeth Martin, Partner, Goldman Sachs

By Cathie Ericson

“You have to be the author of your own path, and realize that you are going to do your best work when you are passionate about your goal,” says Goldman Sachs’ Elizabeth Martin.

Throughout her career, she tended to take career risks by shifting towards emerging problems or business trends versus following the more traditional banking path that had been successful for her predecessors. “It’s about ensuring you can make yourself relevant as the markets change, so you can maintain your career trajectory.”

Building a Career on Variety and Risk Taking

Martin joined Goldman Sachs in 2000 as a lateral hire from a different bank. “It felt like a big risk to change jobs, but I wasn’t being stretched in my first analyst role. I wasn’t learning from my manager and colleagues,” she says, adding that she realized early on that if your manager is not invested in advancing your career, you’re wasting time. “Since that point, I’ve recognized the importance of working for people who see your success as a measure of their personal and commercial success as well.”

Martin got her job in what you might call “the old-fashioned way,” passing out her resume on the trading floor at Goldman Sachs’ New York headquarters. Proving that even previous managers can be sponsors throughout your career, she was offered a role after receiving a review from her boss at a past internship with a competitor of Goldman Sachs.

For eight years, Martin worked in derivatives trading, a role she loved because derivatives give you the ability to constantly innovate solutions to new challenges facing clients. “Some women shy away from trading roles because they don’t see role models in the seats,” she says. But she notes, “Trading is about becoming an expert in how to value an asset and predict how the price may change over time. It’s a job that facilitates a huge amount of freedom to learn about different markets, asset classes, and emerging global trends, and also trains you in how to take calculated risks in life and in your career.”

During the financial crisis, her experience with derivatives and emerging financial regulations led her to shift to working alongside senior leaders to identify and implement a forward-looking strategy to address changes in the operating environment. She enjoyed being in strategy, where she had a seat at the table in adapting the business model to maintain a market leading position for their Equities business. The role also allowed her to engage with people across all divisions of the firm. “Investing in a broad network is critically important to your career. You make better and faster decisions if you have a broad set of perspectives upon which to draw.”

Two years ago, Martin joined Goldman Sachs’ electronic trading business, where the firm uses technology and quantitative analysis to decide when and where to trade a stock. When an opportunity arose to move to London last year, she jumped at the chance to work and live internationally.

Her career at Goldman Sachs has been varied – from New York to London, with roles in trading, derivatives, management and execution. “If you embrace change, Goldman is a great place to have a career,” she says.

Managing through Change in your Career and Life

The changes continue today: Like every other industry, the use of technology and data has altered the role of Goldman Sachs in the markets. Increasingly, trading occurs through a global network that connects clients to the firm and to marketplaces all over the world. She explains that technology has also allowed Goldman’s clients to reach places where they do not have a physical location – a game changer in accessing new markets around the world.

Martin notes that following the introduction of MiFID II, Europe has gone through “some of the most transformative market regulations in history,” and the result has been large investments in equities and electronic trading to ensure they earn the trust of clients to provide the best possible experience when executing trades at Goldman Sachs. “Markets change all the time. We never have a lack of interesting, global, technical problems to solve.”

Just like the markets have changed, so did what Martin wanted from Goldman Sachs throughout her career. “At the beginning of my career, I was more focused on short-term milestones, like the performance of my business that month,” Martin says, “but over time, I learned that what I really cared about was the cumulative impact in my life – my career is an important aspect of my life but not my only priority.”

Making partner was one of her greatest achievements “because it recognized my contributions to the firm over my career, but also because it happened just after I had three amazing daughters in five years. I’m very passionate about my career and my family.”

Martin also knows the value of a family who supports her career. “Having a partner who is empathetic to the challenges of working women and fully supports my ambitions… even if that means he needs to take a share of school drop offs…has certainly been a key ingredient in striking some balance in my life.”

A result of her childhood outside of Boston, her favorite way to spend family time is skiing, particularly now that the Martin family can venture across Europe. “Most of my favorite childhood memories are skiing with my family. Exploring the mountains with my kids is exhilarating.”

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Voice of Experience: Carly Scales, Managing Director, Goldman Sachs, Technology Division

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Carly ScalesBy Cathie Ericson

“Throughout your career, finding your true north and being comfortable in your own skin is really important,” says Goldman Sachs’ Carly Scales.

“Having authenticity and being able to bring your full self to the office is an important component to ensure you can do your best work and contribute to your team at the highest level,” she recommends.

One common stumbling block for women? Trying to be all things to all people, all the time. “You have to focus on what’s important to you at any given moment. For me, that’s a constant challenge given my demanding job and multiple pressures on my time and energy, but just being self-aware can make a big difference,” she says.

Her Career As A Testament to Mobility

Scales joined the firm in the Operations Division and spent nearly 13 years in different departments, moving organically to take on new challenges as she progressed in her career. She briefly left Goldman Sachs to work at another firm, but returned after a few years. “I really missed Goldman Sachs’ culture and the focus on our people, whether that be through mentorship and sponsorship, training programs or providing growth opportunities,” Scales says.

Since returning to Goldman Sachs in 2015, she has had the opportunity to work on several key initiatives, including GS Bank USA, which has allowed her to increase her knowledge of different pockets of the firm. In the last three years, she has held roles in the Operations Division, Consumer & Commercial Banking Division, Finance Division, and recently moved into the Technology Division.

“I think my mobility speaks to the opportunities you receive at Goldman Sachs if you raise your hand and accept new challenges. Just say ‘Yes’ and see where it leads,” she recommends, adding that often agreeing to this type of change can be a leap of faith. “People would tap me on the shoulder because I had a ‘can-do’ reputation, and I advise professionals to be willing to take similar risks. There are many avenues for individuals to receive the support they need to be successful when taking on a new role.”

A Focus on Mentoring

While being named managing director was an extremely proud and important moment in Scales’ professional career – a validation that the culmination of her contributions to date had been recognized – she nevertheless feels that mentoring and coaching others has brought her the most satisfaction.

“I think that’s how you build a lasting legacy: I’m very proud when people who work for me or those whom I mentor and coach continue to excel and thrive,” Scales says, acknowledging that while this requires a significant spend of time and energy, it’s completely worth it. “At the end of the day, people may forget the specifics of what you’ve done from year to year (there’s always more work!), but the person who felt supported and guided will always remember your role.”

In fact, she is adamant that her peers will benefit from paying it forward and lifting other women up as often as possible. But, she notes that you don’t always have to look “down” to lift others up.

“Look to the left and right and help out those who are junior to you, but then consider your peers as well. There are powerful partnerships and support structures that can be forged there, and it can happen at any level – whether you are an analyst or a managing director.”

In addition to working alongside her own team, Scales is co-head of the firmwide Women’s Network, where she’s had the opportunity to interact with women across Goldman Sachs to provide engaging programming and networking opportunities to colleagues across the firm.

Advocating for Yourself Reaps Rewards

At Goldman Sachs, Scales has seen that flawless execution and teamwork is fundamental to success. However, she cautions that at a certain point in your career, it becomes important to reflect and analyze your path and determine your long-term goals. Scales recommends that it is critical – at times – to take control of your career path.

Scales learned this from firsthand experience, and notes that when she left the firm in 2010, she hadn’t had a candid conversation with anyone about her goals, nor had she leveraged her internal network, which made her “feel a bit lost.” Reflecting upon this period, Scales wishes she had realized the importance of having such conversations. Now, when she mentors other women, she takes care to impress upon them that it is imperative they learn to advocate for themselves.

“Women in particular sometimes struggle with this, but if we look at our lives outside of work, we are advocating for others all the time – whether it’s our children, spouses, friends, parents, etc. – and we need to realize those skills should translate to the workplace, too.”

In addition, she says that women must never accept that certain characteristics can be perceived in a negative way when displayed by a woman.

While she doesn’t believe it’s done intentionally, she has found, for example, that the concept of “being assertive” tends to have a negative connotation and women are often labeled as being “aggressive.”

“Both men and women need to continue to break that myth and call it out when they hear others use similar terms,” she says.

Living a Life on Many Levels

Scales prioritizes being a mom and a wife, and finds that having her son five years ago made her better at her job, as it provided perspective during those “bad” days, but also helped her become more efficient and focused at work.

These days, you’ll find Scales spending her time outside of work doing activities that five-year old boys love, from basketball to soccer to tae kwon do. However, when she does get a free minute to herself, she enjoys cooking and entertaining – finding that dinner with family and friends is always good for her soul – as well as doing Pilates or enjoying a good book.

Her secret to fitting it all in? Realizing that you have to let go of the idea that you can do everything all at once, and you can do it perfectly. “An impossible standard will leave you drained and likely feeling like a bit of a failure,” she says.

Instead, she knows that there are tradeoffs and you have to make choices consciously. “Today I missed a workout and had cereal for dinner, but work was very productive, and my kid is happy so I’ll call it a good day,” she says. “No one is perfect 100 percent of the time, so try to remember to be kind to yourself while you’re conquering the world.”

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Voice of Experience: Allison Nathan | Managing Director, Goldman Sachs

Allison NathanBy Cathie Ericson

Over the years, Goldman Sachs’ Allison Nathan has learned that although you have to be dedicated and proficient in most areas, you don’t have to excel in everything. “You have to focus on your strengths and interests and think creatively about finding opportunities to leverage them,” she says.

Reflecting upon her experience joining the research division, Nathan notes that she was one of the only people on her team that did not have a PhD in economics. However, she soon realized she had other strengths that would differentiate her and allow her to contribute to the group. Connecting the dots across research views proved to be one of them.

“It’s no coincidence that people tend to enjoy doing what they do well,” Nathan says. That knowledge led her to create an entirely new research product that has become a standalone brand.

Parlaying Her Knowledge into a New Product

Nathan joined Goldman Sachs as a first-year analyst in 1998, after earning an MA from the Johns Hopkins School of Advanced International Studies and a BA from Duke University.

Goldman Sachs had long been an aspirational firm for her, so she jumped at an opportunity to join. Since she had always had an interest in geopolitics as well as economics, she joined the commodities research team, which she found to be a great fit for those interests.

After working her way up in commodities research over 14 years, including being named a managing director, she launched a research product called “Top of Mind,” a publication that leverages both internal content from Goldman Sachs research analysts and external content from influential experts. In each issue, she and her team develop content that focuses on a specific market-moving theme, ranging from Fed balance sheet policy to trade wars to bitcoin.

“It was very rewarding to start out on a traditional path and then have the ability to create a unique opportunity that really leveraged my strengths,” she says. “I felt strongly this type of product was something we were missing, and while it was initially difficult convincing some audiences that there would be traction, the series has been consistently well-received for over five years now.”

Indeed, its success has allowed Nathan to expand Top of Mind into a thought leadership “brand,” and she is currently working on a fifth conference that is part of the publication’s evolution. Top of Mind forums are held periodically to bring the publication’s ethos of discussion and debate to life within a conference setting that features roundtable discussions with individuals from Goldman Sachs’ research division. The team also now produces a podcast series. “Offering content in different mediums has been an exciting aspect of the brand’s development,” she says.

Helping Others Build Successful Careers

Nathan has been a beneficiary of the women’s networks she has leveraged throughout her time at the firm. Recently, she has been active in Goldman Sachs’ Women’s Career Strategies Initiative (WCSI), which targets high-performing women associates to provide educational and networking opportunities. Through this program, Nathan has had the privilege of mentoring three women who have all recently been promoted.

She notes that mentoring is a powerful tool, and you should leverage your experience to mentor people who work directly for you as much as those with whom you have an arms-length relationship.

Sometimes it can be easier to work with those who aren’t direct reports, as you can be honest and know it won’t affect a day-to-day relationship, but it’s also important to invest in the women on your team, says Nathan. She also finds that while senior women tend to mentor other women, she encourages them to remember it’s also important to mentor men. “You have as much experience and knowledge and as much to offer junior people as the man sitting next to you,” she says.

While she finds that most women tend to anticipate a struggle with work/life balance, her main message is that you can have it all. “I have two kids and a husband who also works full-time. The key is that if you are good at what you do, you’ll find there are opportunities for people to give you the autonomy you need to achieve that balance.”

Much of her time outside the office is spent with her children, ages 7 and 9, but as they become older and more self-sufficient, she now has additional time to focus on other interests. To that end, she has joined the board of DreamYard, a Bronx-based non-profit that works with children to build pathways to opportunity through the arts. She says of this new experience: “I am excited to increase my involvement in DreamYard and help provide more opportunities for these talented students and their families in the Bronx community.”

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Voice of Experience: Kerone Vatel, Managing Director, Risk Division, Goldman Sachs

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KeroneBy Cathie Ericson

“When you have a seat at the table, use it,” advises Goldman Sachs’ Kerone Vatel. “In my 20s I often had an opportunity to interact with executives as part of strategic conversations, but I was reluctant to share my point of view. I know now that in each of those moments I missed an opportunity to influence the organization. I was more focused on my neuroses rather than on the value I could add, but recognizing this has helped to sharpen my focus and my approach in the workplace.”

Adventures in Careers: From Engineering to Business Success

Kerone studied chemical engineering at MIT, a field she pursued and was interested in as her father had been an engineer. While she was drawn to the way engineers are trained to review, evaluate and solve problems, she ultimately realized that rather than publishing research in academic journals – a career many of her classmates were pursuing – she was motivated to use her skills to disrupt existing processes.

She parlayed that interest into a career in business, initially seeking a private equity role. However, just three days before she was supposed to begin her new position, came “Career Stumbling Block Number One,” as the firm let go her entire analyst group.

Undaunted, Kerone sought the counsel of MIT’s career department, which directed her towards Capital One. The company was pioneering a novel approach to leveraging analytics and data, which interested her. Kerone joined as an analyst in the business development group, where she leveraged her math and coding skills to help grow the portfolio of low-risk credit card assets. She also attributes her six and a half years at Capital One with providing her the platform to understand strategy and analyze consumer needs.

Kerone soon relocated to New York, where her husband worked on Wall Street. They were starting a family, which made her commute to Virginia difficult. While on maternity leave, her husband was supportive and encouraged her to consider every option. She soon realized that she couldn’t leave her baby and commute up and down the East Coast, and subsequently made the difficult decision to leave Capital One.

Soon the time was right to investigate new options, and she applied for a role in Derivatives Operations Risk at Goldman Sachs, which she assumed would be a 9- to-5 type job. While her new position proved to be far more immersive, she enjoyed the challenge of a new role, and then decided to pivot her career even further, leveraging her experience in writing code. She found analytics projects to “tinker with,” as she describes it. Under the leadership of a female managing director, she helped to improve efficiencies and highlight high-risk issues in the Operations Division.

From there she moved into a new role, where her team partnered with the Strategist group, many of whom had quantum math and science backgrounds. She eventually transferred to the Operational Risk group in a firmwide role, where she was brought in to support strategy and help develop a more centralized construct when thinking about the full range of operational risk exposure, from technology issues to natural disasters. It’s a position she finds particularly fascinating as she has helped grow the team significantly and developed strong partnerships and collaborations as the firm reframed its approach to Operational Risk management.

Looking ahead, Kerone is excited about Goldman Sachs’ launch into the consumer market, and the opportunity to increase purchasing power and bring the firm’s best-in-class fiduciary services to Main Street.

Words of Wisdom Gleaned Along the Way – And Passed Along

Kerone has learned a number of valuable lessons during her journey; chief among them is to bring your whole self to work. “I felt relatively unsure of myself until I hit my mid-30s and always tried to morph myself into the styles of the people around me,” she says. “Today, I just focus on being my best self and no longer feel pressure to adapt a style that is foreign to me.”

For example, she recently had a colleague comment that she looked particularly serious one morning. “I’d had a tough morning with the kids, which I shared with my colleague. It’s ok to bring yourself to work and to show vulnerability, but it’s very important to provide team members with the context for what’s happening and why.”

In a similar vein, Kerone recommends that women never worry alone. She believes that it is important to leverage the collective ideas and history of the organization to ensure success. When she’s asked to take on a difficult new project, she will always say “yes,” but now realizes the importance of soliciting advice upfront to tease out pitfalls and key enablers and to collect diverse points of view to shape the solution. “Earlier in my career, I kept my head down and worked extremely long hours – in retrospect, I wish that I had harnessed the power of the broader group or advocated for more resources.”

And finally, her work at Goldman Sachs has cemented the important lesson of, “If you want to go fast, go alone; if you want to go far, bring others with you.” Being named managing director was a defining moment as she reflected on the people who had mentored and sponsored her, in addition to junior colleagues from whom she’d learned along the way. “In that moment when I learned I was being named a managing director, it was so clear that everything is due to the effort of a group, all of us pushing things through together by working toward common goals.”

Kerone currently serves as the Risk Division sponsor for Goldman Sachs’ Women’s Career Strategies Initiative (WCSI), a group whose emphasis is on advocating for women who are on the cusp of being promoted to vice president. The purpose is to help women form connections throughout the firm and in their divisions, as well as learn the rules of the road from senior professionals.

“It’s important to me to help younger people get a head start as they begin their careers,” she says.

Taking Time For Herself and Her Family

Last year, Kerone committed to taking at least one short vacation each month to recharge, which she has enjoyed. She also recently took up snowboarding, a big step after a skiing accident early in her 20s.

But most importantly, Kerone savors the time she spends with her husband and her children, ages 11 and 7, gardening with others on their block in Bedford Stuyvesant. They have replanted trees that had been ravaged by storms and brightened the neighborhood with flowers, efforts that paid off after recently being named “The Greenest Block in Brooklyn.”

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Voice of Experience: Elizabeth Byrnes, Managing Director, Goldman Sachs Engineering

Liz By Cathie Ericson

Elizabeth Byrnes knows that you have to find your voice to be successful in your career. “You can have a great idea but unless you share it by confidently speaking up in the workplace, you won’t be able to effectively influence people and shape outcomes. Engineering is an interactive process — every day teams come up with new ideas and brainstorm together to refine them. When you exhibit passion and enthusiasm for your work, others are excited to work alongside you.”

She says that it took her awhile to find a leadership style that worked well and was consistent with her personality and values. “When I was young, I thought I needed to mimic how others led, but over time I figured out that while I could incorporate qualities I admired in others, I needed to stay true to who I am and incorporate them into my own personal leadership style, which I continue to refine and improve to this day.”

Building a strong, diverse network of colleagues and friends has also been an essential ingredient in Byrnes’ success. “I am more effective when I have people to bounce ideas off and people who have perspectives and skills different than my own. Relationships across our firm and throughout the industry and community at large are super valuable. These are people I can call on to provide advice and help think through and solve hard problems.”

Artificial Intelligence Paves the Way to Wall Street

Byrnes knows first-hand that you’re not always going to be aware of all existing job possibilities initially upon entering the workforce. For example, when she was pursuing her PhD in psychology, she developed an expertise in artificial intelligence and expert systems after analyzing ways to have computers interpret and summarize psychological tests. At the time, most of her colleagues saw computers as number-crunching machines not well suited to the human sciences. But, Byrnes saw an opportunity for computers to help with patient care and speed diagnosis. Not everyone in the psychology industry agreed, she says, and resistance to change was high. “I learned that it’s not enough just to have a great idea, you have to understand how to drive adoption and influence change—a very important lesson!”

After completing her PhD, she joined her professor’s software start-up in the healthcare field before eventually joining Wall Street.

“Wall Street and the financial services industry are very open-minded to technological innovation, which is refreshing and exciting,” she says. “I realized this was an industry I could grow and thrive in, and I have. There is never a shortage of complicated problems to solve and super smart and motivated people to help solve them, which means I am never bored and love my work.”

Upon joining the financial services industry, she initially worked at Manufacturers Hanover and Bankers Trust before joining Merrill Lynch, where she spent 11 years in various technology and leadership roles. She moved to Goldman Sachs in 2007 and today leads the Global Investment Research Technology group.

“When I think about what’s important now in the industry, most roads lead to data. You can’t make decisions without good data, and there has been an increase in appreciation for data modelling, analytics, entitlements and governance,” Byrnes said. “A common thread is ensuring individuals have timely access to the information they need to make informed decisions, while at the same time protecting and safeguarding this data.”

Building a Pipeline by Reaching Girls Before They Opt Out

As co-head of the Americas Women in Technology Network (WIT), Byrnes is committed to growing diverse talent and reaching and inspiring the next generation of women computer engineers. She knows firsthand the importance of building a pipeline – women only comprise 17 percent of computer science graduates in the United States. “We have to build a foundation, and the numbers aren’t where we need them to be. We have to reach back into the junior high schools and high schools to encourage girls to learn to code and to pursue studies in computer science at university,” she says. Meeting this need spurred her to champion Goldman Sachs’ partnership with Girls who Code (GWC).

Goldman Sachs was the first financial services firm to partner with GWC in 2013. Since that initial partnership, Goldman Sachs hosts 40 high school girls each summer at the firm’s New York headquarters. Over 100 WIT volunteers serve as mentors, curriculum advisors, event coordinators and speakers over the summer. “It is a true team effort,” says Byrnes. But this engagement doesn’t stop once the summer program ends. “We can’t just teach them when they’re 16 and then step back, because there are too many opportunities for them to get discouraged along the way,” Byrnes points out.

With her WIT colleagues, she helped create an alumni program to host quarterly meet-ups so the girls have an opportunity to stay connected via a supportive community of friends and role models and continuously learn about technical topics and careers. Over the summer, 80 girls attended an alumni event that focused on cybersecurity.

“Having these students see other women in technical roles is a very powerful way to give young women confidence and introduce them to the community, which is good for the industry overall. We need to reach these girls before they opt out.” Once girls enter the engineering workforce, she encourages them to stay technical. Often, women join the workforce with communications and people skills, and then are routed into project management or business analyst roles too early, which can short circuit their technical learning.

She encourages her colleagues to mentor young women, which she believes is critically important to success and retention. “We have to link arms as a community and help the next generation,” she says. “I felt like I had to make a go of it on my own and it doesn’t have to be that way. We can change the industry by encouraging more young women to enter computer science and then offering the coaching and support system to retain them.”

Byrnes is also active with organizations such as Columbia Girls in STEM and Lesbians Who Tech. She recently attended the annual Grace Hopper conference, which convenes female engineers and students to discuss updates in the industry.

Outside of work, Byrnes enjoys horseback riding with her daughters, playing with her golden retrievers and cooking and entertaining with her husband. “Being with family and friends is the best,” she says.

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Voice of Experience: Patricia McCarthy, Managing Director, Goldman Sachs

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 By Cathie EricsonPatricia

It’s your responsibility to proactively guide and shape your career, recommends Goldman Sachs’ Patty McCarthy. “Being an active networker ensures that people think of you when opportunities arise, but it also allows you to be better at your current job,” she says. “Networking allows you to form relationships with people in your respective field, and provides avenues to solicit feedback and guidance from others.”

She also noted that finding strong mentors and nurturing such relationships is crucial to your career development, as you can solicit frank advice in order to constantly improve.

A Career Built on Seizing Opportunities

McCarthy credits her personal network with her career path, which she describes as “Mr. Toad’s Wild Ride,” the loopy ride at Disney theme parks.

After earning a degree from Harvard Law School, she worked at a large corporate law firm for several years, supporting clients pursuing mergers and acquisitions, before joining the Spanish-language media company Univision, where she worked in business development. However, she soon discovered she missed working in the financial services sector, and began to explore other opportunities.

After connecting with a recruiter, to whom she expressed her interest in both private wealth management and real estate, she was excited when she was recommended to apply for a role on Goldman Sachs’ Private Wealth Management (PWM) legal team. She got the job, and following six years on the PWM legal team, she transitioned to the global management team. Commenting on her movement between different teams, McCarthy said: “Goldman Sachs prides itself on offering opportunities for internal mobility and I’m glad to have been able to take advantage of that.”

Throughout her time in PWM, she has built a reputation as a “go-to” person when key projects – big or small – need to be completed. “More than achieving a title or promotion, my biggest source of pride is establishing a personal brand as an individual who can improve a process,” she says. That’s why her current position is such a perfect fit, as she analyzes new technologies and procedures to constantly improve client service.

Lending Her Career Expertise To Others Across the Firm

McCarthy cautions women to combat their tendency to just put their head down and work hard. “In general, women usually are concerned about being perceived as too aggressive, but it can impact your career if you are afraid to speak up.” She frequently tells young women not to come to her after a meeting to share their great idea, but encourages them to speak up during a meeting.

“When you have good ideas, you need to voice them and add value. Remember that your job is to contribute to your team, and that entails being confident and pushing yourself beyond what your perceived role is,” she notes.

McCarthy acknowledges that confidence will come from building and relying on a strong network of peers with whom to discuss career transitions and work/life balance, and she cautions that the need for this type of support continues as your career progresses. “Sometimes, when you become more senior, you forget that you still need mentors and a sounding board, and often your peers step in to fill that role.”

As co-head of Goldman Sachs’ Hispanic Latino Network, McCarthy is proud to draw on her Cuban heritage to educate others about Hispanic culture, as well as further the development and retention of Hispanic and Latino professionals. She felt honored when she was recently asked to participate in a panel discussion on intersectionality, which focused on the potentially hidden aspects of diversity and the importance of bringing your whole self to work. The panel was co-sponsored by several Goldman Sachs affinity networks.

In addition, she is a member of the firm’s Women’s Network, which provides mentorship opportunities and hosts events to help guide women throughout their careers. McCarthy noted that she has benefitted from network sessions that provided information to aid in work/life balance, such as women’s health and education planning for children.

Outside of the office, McCarthy enjoys spending time with her husband and two daughters, ages 11 and 9, engaging in active outdoor water sports. In fact, she laughingly says that since she loves water in any form, she’s even embraced “frozen water” and taken up skiing, where she can enjoy the challenge of learning something new.

As a board member of the Thyroid Cancer Care Collaborative (TCCC), she also works to educate and support those affected by thyroid cancer. “Thyroid cancer often affects younger women, and it can be really scary when you initially receive a diagnosis. I appreciate the chance to help arm others with knowledge as they begin their journey towards a cancer-free life.”

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Voice of Experience: Amanda Rubin, Managing Director, Global co-Head of Brand and Content Strategy, Goldman Sachs

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 By Cathie EricsonAmanda Rubin

“When you work with a group of intelligent and diverse people there are bound to be those who disagree with your opinion, but that doesn’t mean that you shouldn’t speak up,” says Goldman Sachs’ Amanda Rubin.

When first beginning a new position, she recommends focusing on excelling in the fundamentals of your role.  But once you have mastered some of your tasks, Rubin advocates communicating your opinions with confidence. “Sharing a thoughtful opinion backed by good judgment and facts will allow you to differentiate yourself and move forward in a meaningful way,” she says.

As your career progresses, Rubin advises that you are responsible for harvesting talent, and this means allowing junior members on your team to express their points of view: “Remember that your team is looking at you and your actions – from how you treat people and encourage them to be involved in the dialogue to how you engage in your day-to-day activities.”

An Evolving Industry, Ripe For Disruption

After earning her BA in Political Science from Emory University and an MBA from The George Washington School of Government and Business Administration, Rubin dove into the advertising world. She earned positions at top agencies such as Chiat Day, Ogilvy & Mather and DDB Needham Worldwide, where her MBA made her a perfect match with industry-leading financial services clients.

Building on her robust background working with clients in the space, Rubin joined Goldman Sachs’ Brand Marketing and Digital Strategy Group in the late 1990s, eager to parlay her experience into helping to establish the firm’s marketing department. At the time, the firm was just beginning to enhance its external communication efforts as it built its brand in advance of its initial public offering. In support of these efforts, Rubin helped launch Goldman Sachs’ first public website; developed a series of advertising campaigns designed to position Goldman Sachs competitively; and created recruitment marketing materials to further cement the firm as an employer of choice globally.

Almost a decade later as the financial crisis began, Rubin and the team had to evolve their strategy as the firm made a conscious effort to combat an increasingly negative narrative in traditional and social media. “We realized that a lot of people didn’t know what Goldman Sachs does, so we began to actively engage the public in our communication efforts,” she explains.  Previously Goldman Sachs had only targeted a limited set of stakeholders with its marketing outreach, but the crisis became a pivot point in her career as this set of constituents broadened and changed.

“While our approach may be different from other financial services firms who have more of a retail presence, our goal is the same: to demonstrate transparency and share the firm’s purpose and mission.”

Creating her team is the professional achievement Rubin is most proud of to date.  “When I look across the floor and see this talented group of people who are making an impact, it’s gratifying to consider the important role we are playing in shaping the firm’s narrative and explaining the role of Goldman Sachs in the economy and markets.  I am proud of what the team has accomplished and the profile we have earned for the firm.”

As Goldman Sachs has begun its foray into the retail space by taking deposits and making loans, her team has been working closely with the consumer group as they look at new ways to engage and leverage what she describes as “the most innovative toolkit available.”  From Facebook to Twitter, they are constantly seeking new ways to introduce Goldman Sachs’ thinking and expertise to new channels and audiences.

This focus is more important than ever given the general disruption surrounding the intersection of advertising, media and brands.  Previously, each was a separate pillar: a brand would depend on agencies to develop content, which media companies would then distribute.  Now, as brands have the ability to be publishers of content, it allows them to directly share insights with their audience.  “Lines will continue to be blurred, which creates opportunities to establish our own thought leadership platform, distribute content efficiently and partner with new entities,” Rubin says.

Continuous Learning Yields Growth

One reason Rubin has been able to thrive during this time of disruption in the traditional marketing environment is her enjoyment of continuous learning.

“It’s not possible to keep up with changes in this industry if you’re not willing to continuously learn and ask questions, which can be uncomfortable at times,” she acknowledges.  However, she believes being intellectually curious and leveraging talented people is a strength.

In addition to staying abreast of industry changes, Rubin advises that networking is also vital to success in the space.  “That’s the only way you can expand your day-to-day world and contribute in a valuable way to people beyond your immediate sphere,” she says.

An advocate for more formal networking involvement as well, Rubin served as co-chair of the Legal, Compliance, Internal Audit and Executive Office Women’s Network from 2010 to 2014.

“One of the greatest things about Goldman Sachs is our people, and you have a unique opportunity while working here to connect with and learn from a group of incredibly intelligent and accomplished individuals,” she says.

Work and Family: Mutually Beneficial

With two teenagers and a husband, Rubin embraces both her time at work and at home. She finds that being a mom gives her valuable perspective that helps her in the workplace, and in turn, her colleagues give her perspective that helps her be a better mom.

“My kids see me experience highs and lows; they see me working hard and succeeding, but they also see me face challenges, dust myself off and go back to work the next day. I am grateful that work provides me with a platform to teach them these life lessons.”

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Anna Gorga Soderini, Vice President, Investment Management Division, Goldman Sachs

Anna Gorga Soderini

While it might be harder to find a role model who seems similar to you if you’re LGBT+, a woman, a different race or any underrepresented minority, it’s still very important to find mentors who can guide you in your career, notes Goldman Sachs’ Anna Gorga Soderini.

“When seeking a role model, look beyond traditional ‘diversity’ and focus on individual challenges people might have faced where you can find points in common that might not be obvious,” she says. “If you more broadly define ‘role model,’ you can find someone who also had to adapt to circumstances and conquered similar challenges, even if they might not represent your exact demographics,” she says.

A Meandering Path, With a Destination of Authenticity

For Soderini, the professional journey has been just as important as the destination, and she took what she describes as a bit of a meandering path. She began with classical education – Latin, ancient Greek and philosophy – yet ended up in a finance career. While in London completing her Masters in economic development at the London School of Economics, she was exposed to financial markets for the first time, and to the role efficient asset allocation plays in enabling economic development.

She initially joined a private equity firm that invested in emerging markets before spending two years in Mozambique following that country’s civil war, an incredible experience that made her keenly aware that opportunities emerge following significant periods of change. After her stint in Mozambique, Soderini enrolled at New York University’s Stern School of Business to pursue her MBA and enhance her knowledge and understanding of finance.

After graduating with her MBA, she took a position in M&A, covering and advising financial institutions. Soderini joined Goldman Sachs Asset Management in 2007 to pursue a role on the buy side.
After making a conscious decision to not share with her former employer that she was gay, Soderini realized this was impeding her ability to form deep relationships with her colleagues and managers, and knew she needed to be open in her next role if she wanted to be successful. She came into the interview process at Goldman Sachs identifying openly as LGBT+, and she says she was blown away by the inclusiveness of the firm and her future colleagues.

When discussing professional achievements of which she is proud, Soderini immediately mentions her involvement with Goldman Sachs’ LGBT Network. She cites her role on the Pride steering committee and subsequently being invited to co-lead the Americas LGBT network at the firm, as a significant moment in her career. Soderini notes that the position is one of great responsibility due to the advocacy and education element of the role, by ensuring the firm remains at the forefront of LGBT+ issues.

Shifting Industry Norms Provide Opportunities for Goldman

Currently, Soderini is excited about co-leading an effort to integrate new data sources into the investment process, as the industry comes to terms with the disruption brought about by technology. She believes the ability to capitalize on these changes will become increasingly critical to the investing process and thus consequential for GSAM’s business.

“This is an inflection point for the whole industry, as data is being created at exploding speeds,” she says. “The size and complexity will require new analytical tools, and we now have more processing power at our fingertips. Goldman’s breadth of strategies, technological sophistication and depth of resources will allow us to harness technology to the benefit of our clients in a way that less capable competitors can’t.”

Also related and top of mind is the debate about active versus passive management, and how Goldman Sachs can weather the current outflows from active management.
“Technology has made fundamental investing harder since it has democratized information and analytical tools. Some of the challenges of active investing are cyclical and will fade under new market regimes, but others, such as the technological disruption, are secular: The firms willing and able to adapt to the new environment will be the ultimate winners. “Goldman Sachs is one of only a handful of asset managers that has the wherewithal to experiment and execute across strategies as we begin to understand these shifts.”

Embracing the Corporate Paradigm

Soderini says she wishes someone had told her when she was starting out that doing a good job is a necessary but usually not sufficient condition to continue progressing in one’s career. She understood the financial sector to be a meritocratic environment, but had not realized how critical it is for everyone around you to see you proactively contribute, understand your career goals and believe in your ultimate potential as a leader.

But while you have to express your views and telegraph your goals and passion, she notes that it can be tricky to get the right balance, particularly for women and those who come from cultures that don’t promote assertiveness.

“At school you are used to being rewarded for executing well in a linear relationship with faculty, completing homework or passing a test,” she notes. “But the work environment is more complex and there are multiple constituents. You don’t work in isolation, and taking the initiative in engaging with your manager and colleagues, as well as championing your work is a necessity.”

Sharing the Proud Culture of Goldman Sachs

In addition to her work with the LGBT Network, Soderini is active with the Pride Summit, a recruitment event where LGBT+ employees and Allies interact with sophomore and junior undergraduates who are looking to learn more about the firm. She finds that people vastly underestimate the leading role the financial industry plays in advancing LGBT+ causes, so it’s incumbent upon the industry to conduct outreach and education.

She also appreciates the opportunity it provides for LGBT+ women to interact in an environment geared toward networking. “We can cast a wider net and create critical mass by bringing this group together at our office.” She loves being able to attract talented individuals from many backgrounds to showcase the firm.

“I talk about it with such enthusiasm because I would have loved to have had something like this when I was in college,” she says, noting that it really underscores the progress that has been made that these programs now exist.

In her spare time, Soderini loves traveling with her wife, primarily from the base they have established in Barcelona, a beautiful city and convenient location for exploring Spain and Europe.

By Cathie Ericson

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