Tag Archive for: Partner

Nell Hutton, Partner, Securities Division, Goldman Sachs

Nell Hutton“Be passionate about your role and responsibilities – always apply yourself with energy, enthusiasm and commitment,” recommends Nell Hutton, a partner and head of the Securities Division franchise in Australia and New Zealand at Goldman Sachs.

A native Australian, Nell Hutton traveled to the UK to pursue postgraduate studies at Cambridge University. From there, she joined Goldman Sachs’ debt capital markets (DCM) team in London, where she aimed to infuse those three core traits – energy, enthusiasm and commitment – to her projects.

“I worked extremely hard in DCM, and during that time period I learned an incredible amount and received a lot of great client exposure,” said Hutton of her time working in bank capital transactions.

After several years in DCM, Hutton was in search of a new challenge and joined the derivatives corporate team, where she covered corporate clients from a risk and liability management perspective. From there, she transitioned to the Financing Group, supporting Nordic and Dutch clients in the derivatives space. “I really enjoyed my time working with these clients because I built strong relationships with them, and we developed some innovative financing and hedging solutions which really differentiated Goldman Sachs at the time.”

Leveraging Mobility Across Regions

After nearly a decade at Goldman Sachs in the UK, Hutton explored moving back to Australia. “In 2006, I began to talk with my managers about potentially transferring to a role in Sydney, so I could be closer to my family.”

Although she was moving more than 10,000 miles, Hutton was able to take on a similar role in Sydney, covering corporates, financial institutions and pension funds within the derivatives space. However, Hutton soon recognized differences between the London and Sydney offices: “As a vice president, I realized I was one of the few senior women in Australia, and I had to figure out how to reinvent myself and build a business – but I surprised myself by how quickly I was able to build relationships in the local market and translate my experience from Europe to bring innovative financing and hedging solutions to Australian and New Zealand clients.”

Navigating Parental Leave

After having her first child and taking 12 months of parental leave, Hutton experienced trepidation about returning to the office. “In the moment, I thought taking off so much time was a career-ending decision, but I really enjoyed the months I was able to spend with my daughter at home. Ultimately, I came back to work part-time, which my bosses in Sydney were very supportive of and in the long run I think that had limited impact on my career at GS.”

In 2009, Hutton had her second child, and again her managers were supportive of her coming back to the office on an initial part-time basis, which later morphed back to full-time given the exciting opportunities Hutton was offered in her role leading the derivatives business within the financing group.

Looking back, and after having her third child, she says: “I wish I had been more open-minded and had trust that I would have the firm’s support navigating these inflection points in my life.”

In addition, Hutton recommends that individuals considering parenthood keep in mind the following Lean In adage: “Don’t leave before you leave.” She cautions, “If you’re planning around potentially needing to take time out of the workforce, then you’re already making decisions that are holding back your career. Don’t worry about how you might navigate things in the future – assume you will find whatever balance you seek and focus on the present.”

Pursuing Opportunities for Growth

In 2014, Hutton was named head of Fixed Income, Currency and Commodities Sales in Australia and New Zealand, overseeing more than 15 people. “We set about trying to grow our market share and find new business opportunities, and it was exciting to cover a broad client base.”

Today, Hutton is focused on growing the firm’s Securities Division in Australia and New Zealand and engaging more clients. “The firm has laid out a clear strategy, and in Australia we have the opportunity to grow wallet share in existing businesses, as well as new business lines.” Hutton cites the development of a corporate cash management business in-house, as well as opportunities to engage superannuation funds across the country, as clear areas of growth.

For young women focused on their own careers, Hutton stresses that when individuals are passionate about their role, “people notice and doors open.” She notes: “When those doors open, you have to overcome fears of failure, be agile and take risks to succeed. It’s not always easy, but if you can navigate the difficult times and learn from them, then you’ll come out with greater strength and resolve.”

A Full – and Joyful – Life Outside of the Office

“When you work at Goldman Sachs and have three young kids, life is full but it is also joyful,” says Hutton. She notes that “family time is incredibly special” to her, and she loves reading to her children each night. “I’ve had the chance to go back and read with my children all the books I loved growing up – those moments are precious.”

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Voice of Experience: Noriko Umeki, Partner, PwC Japan

Noriko Umekiby Cathie Ericson

When reflecting on her career, Noriko Umeki wishes she had known earlier the importance of communication, as well as using personal marketing to further her endeavors.

“One day I realized that I wouldn’t be evaluated highly just because I was working on the job in front of me. People who get chances for better positions display a high level of interpersonal abilities so it’s important to expand your network both inside and outside the company by letting people know about you,” she says.

“Each one of us has to seize our opportunities, and in Japan, women are less aware about this concept unfortunately.” However, she adds, over the past years, there have been small but significant strides with the ratio of female managers gradually improving from 2% when she started her career to 12% in Japan.

Increasing Her Profile at PwC and in the Accountant Community

Umeki started her career at PwC as a Japanese Certified Public Accountant (JCPA) and has engaged in accounting services for the past 25 years, becoming a partner in 2009. Her experience in audit services includes both Japanese and foreign companies in the financial service, manufacturing and pharmaceutical industries.
As an ally, Umeki voluntarily became involved in Diversity & Inclusion activities for PwC Japan Group when she became a partner. In the past decade, she has expanded the firm’s D&I activities, improving D&I awareness and cultivating an inclusive culture at PwC Japan. She considers this an important achievement, given that the World Economic Forum has ranked Japan as 110th in the 2018 Gender Gap Report, highlighting that this issue is an ongoing challenge for Japanese companies.

To that end she has focused on producing female leaders, fostering female juniors and promoting support for LGBT+ members at PwC Japan.

In addition to her work with PwC, Umeki has assumed the post of director at Japan Institute of Certified Public Accountants (JICPA) this coming summer. “I am getting very excited to work on whatever I can do to contribute to development of JICPA,” she says. “The job of experts in accounting should be of social significance, and I would very much like to appeal to society so that young brilliant people will know the attractiveness of J-CPAs and be willing to join us.” And, she says, that will include encouraging young female accountants to join the industry, given that the percentage of female J-CPAs is still very low—at only around 20% in Japan.

An Appealing Career

Umeki believes it’s important for young female professionals to realize that they can successfully continue an accounting career through lots of life events.

“One of the attractions in this profession is that we are able to enhance our value through work and to differentiate ourselves from others since we are required to have a deep knowledge and wide experience,” Umeki says. She recommends that women seek their own leadership style and find the work/life balance that works for them.

Sometimes she sees Japanese women hesitating to take higher positions, yet she notices that many males are becoming increasingly supportive. “We females should change our own awareness and try anything when we are given the opportunity, finding the courage to take the next step,” she says.

Fostering a More Inclusive Culture

The biggest value Umeki has received in becoming an ally for the LGBT+ community is that her perspective has become much wider. “I remember being deeply shocked when I realized that I myself, as a woman, had been discriminating against other minorities unconsciously,” she says. “I was astonished to realize how many people are bound by old stereotypes and customs, but after becoming an ally, I have come to think more about the true nature of the situation. Putting myself in somebody’s shoes is very helpful in my career, as well as in my private life,” Umeki says.

She urges others to deepen their understanding about the LGBT+ community by attending related events or seminars, which will bring D&I issues to light and encourage personal action.

Among some of the advances that have been taken by PwC Japan Group to foster an inclusive culture are establishing an internal network for LGBT+ colleagues and allies. “When companies provide a safe environment, people are able to fulfill their potential to be their best since they will feel safe to be accepted as they are. “ And, Umeki notes, it can help companies attract and retain talented personnel.

She recommends that companies make a point to create that inclusive culture, but also to establish the same benefits for LGBT+ couples as for same-sex marriage, even though Japan does not yet have the necessary legal system.

Trying One New Thing Every Year

Since turning 40, Umeki has made a policy to try one new thing every year; among the new activities she has tried are fishing, yoga, boxing, calligraphy and golf, and she plans to use her accounting acumen to add activities that contribute to issues on women and society.

“I believe that it is never too late to start something when we are supposed to live for 100 years,” she notes.

And although she already cites her most important personal achievement as becoming partner at PwC while raising her two children without suspending her career, she says that from now on, she intends to pursue her career and private life in her own way. “I will enjoy life more,” she says.

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Voice of Experience: Diane Bell, Partner, Katten Muchin Rosenman LLP

Diane BellEqual treatment as an LGBTQ professional has always been important to Diane Bell—and she has found that at Katten.

For example, she initially hesitated to bring her partner to firm events as she got to know the culture, but after several months, a more senior manager inquired as to why she didn’t bring her. “It was eye-opening to see that it was far more than acceptance that they were offering, in that they were almost offended I wasn’t bringing my partner, as though I wasn’t proud of the firm,” Bell said. And she has seen that culture embrace diversity throughout her tenure there.

Relationship Building Drives Career Satisfaction

Although Bell has been with Katten for 13 years, she originally joined a smaller firm right out of law school, selecting it due to its culture and people. However, after the tech bubble burst, she realized that the corporate group she had joined was going to be slow to recover, so she decided to look into another firm that would allow her to develop her skill set. She found a great opportunity in Katten’s Corporate practice, where she has honed her skills doing the challenging work of private company mergers and acquisitions, while delighting in the wonderful people she’s met along the way. “I’m really happy with the kind of lawyer I’ve turned out to be,” she says.

Bell values the firm’s emphasis on building relationships with their clients noting two transactions that have been particularly meaningful. In one, near the beginning of her time at Katten, she helped a small business owner, who immigrated with the proverbial “$20 in his pocket,” sell the wildly successful business he eventually built and receive the most appealing terms possible. “As a more junior member of the team, I got to know him and his wife well, and it was incredibly rewarding to act as a counselor for them,” Bell says. “When we got confirmation that the payment hit their account, they hugged each other, then bear-hugged me.”

Her second memorable moment involved another family-owned business that had gotten a valuation for estate planning purposes and were blown away by its size, leading them to consider an exit strategy much earlier than they expected. They initially decided to use a broker who didn’t seem up to the job. Bell felt that they could do better, and get a better price, with another broker, and the broker that Katten introduced the family to ultimately put together a package that led the business to realize almost twice what they had initially hoped for. “It was very rewarding to help guide this wonderful family through what to them was a very confusing process,” Bell says.

Being Open Pays Dividends

Bell always recommends that younger associates find senior attorneys willing to act as sponsors. She, for example, feels fortunate that the former managing partner of the firm’s Los Angeles office, who now serves as a Los Angeles Superior Court judge, took it upon himself to actively look out for newer professionals during the lean years of the recession—and in fact, she says it’s due to him she is still there. “You need those people up the food chain looking out for you,” she notes.

From the beginning of her career journey, Bell has made a conscious effort to be transparent about her orientation. “I thought that if potential employers weren’t accepting, then I didn’t even want to start down the road with them,” she said. For example, she noted on her resume that she interned at Lambda Legal, an organization that focuses civil rights impact litigation to benefit the LGBT community and individuals living with HIV impact while in law school.

In fact, Bell says that trying to conform in any way that’s against your authentic personality can be a hindrance to your career. She has found that as she let her true self shine through to her coworkers, she got along far better and gained more respect. Even more importantly, she says, she no longer had to expend the emotional energy on trying to be someone she wasn’t. “It frees up so much bandwidth to not try to assimilate into what I thought that the associate mold was supposed to be, which was against my character in a number of ways,” she said.

As co-founder of Katten’s LGBT Coalition, Bell says its purpose has morphed over time; it first was formed to ensure LGBT attorneys were on an equal playing field with respect to employee benefits and insurance coverage—that her wife, for example, would be recognized as family and receive the same benefits offered to spouses. When grappling with issues like this, she has found that at Katten typically it only requires explaining the concern before the issue is addressed. “If people don’t understand that there is a problem, they won’t know it needs to be fixed,” she said.

Over the years as marriage equality resolved many of those types of issues, the coalition now focuses on other aspects such as recruiting and retention of LGBT attorneys and organizing the firm’s biennial LGBT Attorney Retreats, which takes place in Philadelphia this coming year.

Away from the office, Bell enjoys spending time with her family; she has been with her wife almost 20 years, and they have two children, ages 9 and 1-1/2.

And she continues her work with civil rights organization Lambda Legal as a member of the board of directors. “Katten has played an important role in helping support this work financially and also allowing me time to travel for my duties,” she says.

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Voice Of Experience: Kenya Scott Woodruff, Partner, Katten Muchin Rosenman LLP

Kenya Woodruff“Don’t stress out” over your career, Kenya Scott Woodruff tells women who are entering the workforce.

“It really does all work out. Your career path might not be as you predicted, but if you are willing to work hard; you are open; and you say ‘yes’ to things that others don’t, you are going to end up with great opportunities to advance.”

Finding Her Passion in Healthcare

Kenya began her career at a large law firm in Dallas as a commercial litigator, but she discovered the healthcare practice area as a second-year associate and immediately loved the complexity of the space.

She found a mentor who was a client. He managed litigation for a large health system and helped Kenya develop a steady stream of healthcare litigation work. She later went to a firm where she handled government investigations, before transitioning to an in-house position with the Dallas hospital district, Parkland Health and Hospital System, where she handled investigations, litigation, regulatory and transactional work.

After four years, Kenya returned to private practice, focusing on mergers, acquisitions and joint venture strategic partnerships in the healthcare sector and advising administrators and medical providers on compliance and other business issues. In October, she came to the newly-opened Dallas office of Katten as part of a respected trio – Cheryl Camin Murray, Lisa Genecov and Kenya. They were the first three women partners in the new office and were hired to grow the firm’s healthcare practice in the Texas region.

While Kenya is looking forward to what the team will accomplish, one of her top career highlights is a project she took on when she returned to private practice, working with five physicians and a technology investor to help them build a healthcare company. Together, they formed an independent Accountable Care Organization (ACO), Premier Patient Healthcare, and the company has since expanded to more than 400 physicians and created savings for Medicare and private payor programs each year they have existed.

Kenya found it exciting to watch their growth and especially to realize that there are rural, unaffiliated physicians who now have the technology that delivers recent visit and admission data about patients to the physicians’ desktops and enables them to care for their patients with an understanding of their recent medical encounters. “We’ve been through a lot together since 2012, and it’s amazing to see the wonderful work they have done,” she says. “It is awesome to see the role they are playing in advancing efficient care and to be able to play a part in that advancement.”

In fact, in this era of constantly searching for high-quality, cost-effective care, Kenya is finding that collaborative arrangements are emerging as an important answer. “We are working to help healthcare professionals and organizations figure out how they can take care of patients across the continuum of care in an efficient and effective way,” she said.

Career Advice For Creating a Successful Path

The healthcare industry is largely a welcoming place for women. While there are still advances to be made, Kenya says companies are increasingly amenable to women progressing into executive leadership roles. But in the legal industry, she recognizes there is still a real issue with retention of female attorneys at law firms, even though most firms are very close to 50/50 in gender division when hiring.

Kenya believes one of the best ways to combat attrition in the legal profession is to make sure that women have mentors early in their careers. Often times women may be on par with their male counterparts when it comes to the skills needed to succeed, but they are less likely to have mentors who show them how to navigate the politics of the firm, as well as the business of law, specifically how to develop a practice that is sustainable and financially successful.

In addition, she encourages women to fill their toolbox of knowledge and experience and then seek out a niche they enjoy that preferably is not saturated by other experts. “We have to remember that our business, like others, is subject to the financial realities of supply and demand,” she said.

And mentoring shouldn’t stop as women ascend the career ladder. Kenya stresses the importance of continuing to find camaraderie and support from groups, whether internally at a law firm or externally in industry-based organizations.

At Katten, Kenya is active in the Women’s Leadership Forum, which supports the retention and advancement of women attorneys at the firm through mentoring and professional development programs. She finds the forum’s meetings to be helpful because women often share success tips, as well as challenges. “That’s what it takes to help people move forward—honest, straightforward advice,” she said.

Kenya has also been involved with a number of industry groups, such as the Center for Women in Law at the University of Texas at Austin School of Law, which she calls a “powerhouse organization with great women, companies and firms.” Along with the advice and other benefits of female networking groups, she says it’s vital for women to share career opportunities with each other and support other women as they climb their respective ladders.

A Healthy Balance in All Aspects of Life

As the mother of two “strong-willed” girls, ages 9 and 11, Kenya increasingly enjoys watching as they come into their own and hearing the interesting conversations their newfound maturity sparks. With her husband, David being a magistrate judge, it’s a challenge to juggle family, church and work obligations, but she and her husband share the load – they are true life partners. “Our church family is a big part of our lives,” Kenya said, adding that “We are there for each other in good times and bad. My church family is fun, supportive and they even help with emergency childcare needs!”

Kenya sits on the board of directors for what was formerly AIDS Arms, an organization focused on the prevention and treatment of HIV. She was a part of the board when the nonprofit group legally changed its name to Prism Health North Texas to better reflect the comprehensive services it provides. “The name change has been well-received, and we continue to enjoy great community support,” she said. “I always encourage people to find some organization where they can get involved and help their community in a significant way.”

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Voice Of Experience: Amanda Segal, Partner, Katten Muchin Rosenman LLP

Amanda Segal
There’s no set path to success, says Amanda Segal, head of Katten’s Distressed Debt and Claims Trading practice.

“Everyone’s professional journey is different, and for a planner—as many attorneys are—it can feel unsettling when the road starts to twist and turn. But one of the best things you can do is be flexible, patient, and let your trajectory develop organically.”

When Segal started her career, she thought she would progress up the ladder as a bankruptcy litigator, but her career path took a different course as dynamics in the financial market helped steer her towards attractive new opportunities. “You will be better equipped as a professional if you are open-minded and able to adapt to the evolving needs and priorities of your clients and employers.”

Building a Career Unique to Her

For Segal, that approach has led her to a successful career. After law school, she joined Kramer Levin Naftalis & Frankel LLP as a bankruptcy associate. Three years later, with the financial crisis looming, she saw an opportunity to parlay her experience into a more transactional practice in the area of distressed debt at Richards Kibbe & Orbe LLP. She spent ten years at the firm, where she secured the requisite expertise and experience to make the move a little over a year ago to head Katten’s Distressed Debt and Claims Trading practice.

At Katten, she leads a team of attorneys advising clients through the acquisition and sale of distressed assets, including trade claims against bankruptcy estates, litigation claims, bank loans, and a variety of other investments. Her team—well versed and deeply immersed in financial services—works with related practice areas, including bankruptcy, commercial finance, tax, private equity and more, to provide the firm’s clients with tailored legal advice and transactional support in a wide range of circumstances. Segal believes this will be increasingly important as volatility in the financial market continues to rise.

“Because our practice integrates the talents of so many dedicated attorneys and professionals across the firm, we have the unique ability to look at large bankruptcy cases across multiple sectors. This will enable us to offer ‘big picture’ guidance as our clients navigate the next distressed cycle.”

For attorneys just starting their career, Segal highlights the importance of being empathetic to clients and colleagues. “When you are able to put yourself in someone else’s shoes and view an issue from multiple perspectives, it helps make you a more relatable professional and leader and, ultimately, a more effective advocate.”

She also advises young attorneys to “play the long game.” “Surround yourself with trusted advisors and mentors; use every occasion to network, and work hard to maintain and build upon relationships. Over time, those relationships will provide the backbone for a more productive and fulfilling career.”

Finding Balance in the Workplace

Segal points out that even though law firms have become far more open and accepting of work/life balance, there is no one-size-fits-all solution. “Every woman’s professional and personal needs are different, so there’s no formula. Each woman must determine what works best for her and her family—sometimes simply through trial and error. The end result won’t look the same for everyone.”

Katten hosts a Women’s Leadership Forum that she has found valuable for building relationships across the firm, and also provides skill building, internal and external networking, mentorship and professional development. “Katten has consistently been recognized as a top firm for women, which I have been fortunate to experience first-hand,” she says.

With five-year-old twin daughters, Segal prioritizes a balance between work and family time, running marathons and maintaining a healthy lifestyle, and cheering on the basketball team of her alma mater, Duke University.

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Voice of Experience: Wendy Cohen, Partner; Katten Muchin Rosenman LLP

Wendy CohenAdvocate for yourself and know your value; don’t sell yourself short, Wendy Cohen advises associates.

Cohen states, “You have to ask for what you want and recognize what your contribution is; then refuse to feel diminished, intimidated or not as worthy as your male counterparts just because you may have different demands on your time and elements of your life to balance.”

Cohen never conceded her talents and thus was able to parlay a temporary downshift with a part-time schedule into becoming a partner.

A Mutually Beneficial Arrangement Leads to Career and Firm Success

Directly from law school Cohen started at her current firm’s predecessor, Rosenman & Colin LLP, which merged with Katten in 2002. She joined the firm’s then-corporate department, and during her second year began working with Fred Santo, a partner who specialized in financial services. In addition to public commodity deals, she earned a lot of experience with private funds, now commonly known as hedge funds.

But even though she was a well-regarded associate on an upward trajectory, she removed herself from the partner track to focus on building a family, paring back to four days a week.

After having her twins in 1995, Cohen came back to work three days a week when they were six months old. While she enjoyed her client work, the lack of technology at the time made it too challenging to effectively juggle home and work, and when she became pregnant with her third child, she left the firm again at the end of 1996.

In 2001, Cohen reached back out to her former partner to see if she could work on a project basis; he welcomed her back and she worked as a consultant, billing time directly to the client. After ramping up to working in the office three days a week, it wasn’t long before the firm realized that they wanted to formalize the arrangement, and they offered her a partnership.

As her kids grew and her available time expanded, Cohen gradually extended her days in the office. In 2011 she was named a partner, and two years later she became a capital partner. “I was so proud to become a partner while balancing time in the office and at home,” she says, adding that the arrangement has been mutually beneficial. “Fred is retiring at the end of this year, but I will be able to take over those clients with whom I have worked for 25 years. The firm maintained their investment in me, and now they have the benefit of retaining clients with a seamless transition.”

And as she says, she now is able to devote all her time to the firm. “I provide a tremendous value-add that they would have missed out on had they not allowed me to come back part-time; and at the same time I appreciate the value they saw in me. We all would have lost if they hadn’t been committed to this non-traditional arrangement.”

As current co-chair of the financial services department, Cohen continues to work with clients, including advising her first private investment fund that’s investing in cryptocurrency, and also is focused on business development and lateral hiring.

Perspective That Comes With Experience

Looking back on her career, Cohen appreciates how things change when you don’t even notice. “At some point you realize life is finite, and not to sweat the small stuff—and as they say, most of it is. I am glad I spent time with my kids when they were growing up…I certainly didn’t rush life away during that chapter, but I also didn’t necessarily appreciate that it would change the way it has.”

That wise perspective is one she is able to share with younger professionals as they decide how to forge their paths. While she feels fortunate that firm management allowed her the bandwidth and flexibility she enjoyed, she realizes that although it’s better than it used to be and more common for attorneys to experience balance, it’s not yet where it should be.

“My path should not be anomalous; it should be available to all women who choose to downshift, without being viewed as less successful, committed or capable,” Cohen says.

While other women partners she works with might have taken different paths, she thinks it’s important for all associates to see that there’s not one standard for reaching the goal of partner. “Katten management has been making great strides, but as an industry, we still have work to do for women to realize there is value to their contribution not only for themselves individually, but also for the whole firm.”

And she advises women who are her peers to realize that although they might have had to make sacrifices to achieve their success, they shouldn’t hold that against the new generation. “We can nurture our younger women attorneys in different ways and allow them to decide for themselves the best way to provide value, even if it’s different from what you did.”

But she realizes that there are other ways that being a women can be tenuous. For example one of her clients is a seed investor in Glam Squad so at a recent meeting of 100 Women in Finance, where she co-chairs the Legal Peer Advisory committee, two of the founders talked to the group, then stylists came and “glammed” them.

Although Cohen grappled briefly with whether that would undercut the group, she realized second guessing the event was unreasonable. After all, they have a business model that is fascinating and substantive, and there’s nothing wrong with looking your best and feeling more confident. “We can do things our own way. It doesn’t diminish us; it’s just a different way of networking and bonding.”

She also is working on hosting a panel in January sponsored by 100 Women in Finance with the former managing director of a large private equity firm speaking about women on boards and how to advocate for board seats.

Cohen is active in Katten’s “Women Leadership Forum,” recently attending a women’s networking event at the Knicks game. “The firm is very committed to diversity, and expends a great deal of energy and time nurturing women,” she says adding that the firm is “Mansfield Certified” for excellence in diversity.

In her spare time, Cohen also volunteers closer to home, as the past president of the Jewish Federation in Westport. And she loves to spend time with her husband and now- adult kids—travelling and eating and ideally combining the two, she laughs.

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Katie Koch, Partner, Goldman Sachs

Katie KochGiven the sizable success that Goldman Sachs’ Katie Koch has had in her career, it may seem surprising that failure is one of the factors that drives her.

“Taking risks and refusing to be paralyzed by a fear of failure has served me well,” she says, explaining that she has developed a sound personal philosophy and approach to taking risk. “I approach every challenge with a philosophy that my mom introduced to me and my siblings when she would say, ‘What choice would you make if you knew you would not fail?’”

Taking that approach has allowed Koch to make decisions based on optimism rather than fear and has biased her towards taking calculated risks. “When you’re taking risk repeatedly, you’re naturally going to occasionally fail, so it’s important to view failure as fuel,” she says. A quote that has resonated with her came from an inspiring commencement address by soccer superstar Abby Wambach, who said, “Failure is not something to be ashamed of, it’s something to be POWERED by. Failure is the highest octane fuel your life can run on. You got to learn to make failure your fuel.”

If something doesn’t work out the way you wanted it to, figure out why, and move forward with those lessons, Koch advises.

Taking Risks Leads to Diverse and Rewarding Career Path

Although Koch has spent 16 years with Goldman Sachs, it’s as though she’s had several careers, given the diverse portfolio of experiences she’s had – across different divisions, offices (Chicago, London and New York) and four different business lines. One of her favorite roles is working with incoming talent, and she always makes sure to express how this wealth of opportunities allows professionals at Goldman Sachs to experience a fulfilling career – at one firm.

Koch acknowledges it can be challenging to start over with a new business, team and mandate, but the advantages of working in a new business are immense.

First, she has been able to build a deep network, and secondly, working in different roles allows you to have additional context as you inevitably come across problems you’ve tackled before.

And while she was grateful to be named a partner at the age of 36, the aspect that was most meaningful was having so many people, including her own team, champion her throughout the process. “I believe that the more senior you become, the more dependent your success is on having the best team around you and the right sponsorship above you.”

Living Out a Commitment to Diversity

Koch’s belief in the importance of diversity permeates every aspect of her role at Goldman Sachs. She sees a strong business case for spending time and effort to build diverse teams, and her role helping to lead the equity business – which oversees $65 billion in assets – has proven that diversity of thought is critical to positive investment outcomes. “Successful investing requires the healthy tension of variant perspectives, so it’s a competitive advantage that we have a highly diverse investing team; more than half of our assets are handled by talented portfolio managers who happen to be women, an industry-leading statistic,” she notes.

At the firmwide level, Koch is a champion of Launch With GS, a new initiative that will invest $500 million of the firm’s and its clients’ capital in private, late-stage, women-founded, women-owned or women-led companies, through direct funding, as well as seeding women investment managers who are starting their own funds. “Our ambition is to become a partner of choice for women seeking to scale their businesses and build capital,” she says of the effort.

Sharing Advice That Has Propelled Her Career

Mentoring women is important to Koch, and one lesson that she is quick to impart is that you have to treat a career differently than school. Women in particular excel in the academic environment, where they are rewarded for subject mastery; however, when women transition to a career, they often remain on that path and focus on the content of their role and “keeping their head down.” While it’s vital to be a subject matter expert at your core, she finds women tend to overinvest in this, but chronically underinvest in developing their network.

“I encourage young women to be exceptional at what they do, but also be deliberate in carving out time to meet people in their direct line of business and across their firm, industry and client base, all of which will help you build seniority over the long arc of your career,” she says. “You need to balance what you know with who you know.”

As the beneficiary of a supportive community of other partners, she advises her peers to continue to signal ambition – appropriately of course – and create a plan to articulate career goals to the right people, at the right moment and in the right way.

“It’s so important to think boldly and have a clearly defined top-level goal. Knowing exactly where you want to go allows you to organize your time and efforts toward those aspirational roles,” she says, recommending that while women should focus on outstanding execution in their current role, they should also be asking themselves, “Am I working toward my next job?”

Koch comments, “One of the best ways to prove you are deserving of a job is to act as though you already have the title – even before it is officially yours. That communicates to others that you are hungry, proactive and will bring solutions as a leader.”

One of the programs that was particularly beneficial to Koch was the personal coaching that Goldman Sachs offers, where the coach solicits direct feedback from everyone you work with and provides insight to help you grow as a professional.

Koch noted, “As you achieve early success in your career you can lose sight of how much room there is to improve. This is compounded by the fact that as you get more senior, less people are willing to give you tough feedback directly.”

The coaching process can help you address your blind spots, and Koch found real value in getting this feedback to continue to grow and evolve in her career. She shares, “Once I really opened myself up to the feedback, I learned some profound truths about myself as a professional and a manager. I distinctly remember my coach trying to make the point that people felt shut-down when I interrupted them. I interjected to explain that I don’t interrupt people – I just help them reach a conclusion more quickly. She had to gently point out that I had just interrupted her to explain that I don’t interrupt people!” Taking feedback can be humbling, but Koch believes that self-actualization is only possible when you seek out areas to improve at every stage of your career.

Despite the many hats she wears at work, Koch’s main priority is her family—her husband, two daughters and a son born a few weeks ago. With three children aged four and under, she feels extremely fortunate to have bosses such as Tim O’Neill and Eric Lane, who don’t see successful careers and meaningful family lives as mutually exclusive. “I have had an exceptionally positive experience at Goldman Sachs simultaneously growing my career and my family. I think it underscores the importance for women to choose their employer and their boss wisely.”

“My family is my biggest priority, but I always think of what we say in investing—we won’t get the stock picks right every time, but we try to get it right over time. To me that is the ideal metaphor for integrating life and family. My family can’t come first every time, but they must come first over time, and my goal is to organize my life that way.”

Prior to kids, she and her husband indulged a love of adventure travel; she has been to all seven continents—including Antarctica for her honeymoon—and has climbed extensively from Kilimanjaro to the Alps. For now, most of her adventures take place through books. As an avid reader, she averages about a book a week and frequently trades recommendations with her mom and her team.

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Voice of Experience: Emma Maconick, Partner, Shearman & Sterling

Emma MaconickWhile you can’t choose your circumstances, you can choose how you react to them, says Shearman & Sterling’s Emma Maconick.

“If I could, I would tell the junior version of myself to focus on relationships because they will all matter in some way,” she says. “Giving without expecting anything in return will do more to enhance your career than anything else. The act of being a helpful, useful person in your network is an incredibly valuable skill.”

Seizing Opportunities Provides A Strong Foundation

“Meandering.” That’s how Maconick describes her career, which began in England in the mid- 90s. Back then, she was doing computer and tech work for corporate entities and capital markets. And the more she heard about private equity investing in the then-new “internet,” the more interested she became in the sector.

Thanks to a contact she made at a casual party, she ended up working for an Australian law firm’s Auckland, New Zealand office, which in retrospect she believes was an excellent career move. She found herself traveling up the career ladder, becoming a big fish in a little pond with tremendous exposure to a host of smaller tech companies.

Later on, thanks to a former colleague in the San Francisco Bay Area who knew she was interested in transactional law, she came back to the United States to work at Davis Polk. She worked there for several years before moving to Shearman in June.

While Maconick has spearheaded a variety of impressive technology projects, product launches and fascinating deals over the years, she is most proud of the teams she’s built throughout her career. “My legacy isn’t as much what I personally will do, but what the people I have managed will do,” she says. “I tend to give them a lot of rope to venture out on their own, but I am also there to catch them before they fall. My job is to make them not need me, but always want me,” she says.

Her current work is focused on data, sitting at the intersection of intellectual property, cybersecurity and governance. While an Economist article had famously stated that “data is the new oil,” Maconick goes a step further. “I think it’s even more elemental; it’s the new carbon,” she says, adding that everything will be data-driven, which is why issues around artificial intelligence and ethics and how we build the upcoming digital world are so crucial.

Standing Out To Get Ahead

Maconick recommends that professional women develop an indispensable set of skills, and put their own spin on it.

She says it’s imperative to find out what’s valued in a particular organization — whether it’s culture, sales, creativity or something else — and focus on that. “Nothing magnifies your voice more than being able to generate work for your team.”

As women move up in the corporate world, Maconick believes women can take advantage of their inherent disposition for being relationship and empathy-focused. As computers take over manual tasks, interconnectedness, an area where women excel, will be a real value driver, allowing them to understand clients and their business challenges.

“These skills can shift the balance of power in your favor,” she says.

Professional women can help uplift others through tiny, incremental changes. For instance, if there is a spot open on a key project, suggest it be staffed with a woman capable of doing the job.

Shearman places a lot of importance on diversity. The firm provides skill-building sessions such as “practice your pitch,” and encourages associates to take the time to participate in conferences. It also holds monthly meetings featuring new opportunities or support with professional growth.

Finding Balance With Varied Interests

Maconick is active with the national group Ellevate, as well as Shearman’s WISER (Women’s Initiative for Success, Excellence and Retention) group. She also sits on the board of Upward Women, which focuses on elevating senior-level women. “The key is to find or form your own stiletto network or book club or whatever works for you, as a way to connect with other professionals.”

Most of her time outside work is devoted to her two sons, ages three and seven. Although her schedule is limited, she also enjoys ceramic arts and pottery, which provide both a mental and creative boost.

A travel junkie, Maconick is proud of her 6 x 8 foot map covered in pins marking all the places she’s been. “My life is oriented toward the next cool trip,” she says, adding that her kids are becoming highly adept travelers as well. She continues, “I traveled a lot as a kid and love other cultures, food and languages; whether we seek them in the next state or on the other side of the world, I find it enormously enriching.”

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Voice of Experience: Sarah McLean, Partner, Shearman & Sterling

Sarah McLeanAsking questions is one of the best ways to grow both personally and professionally, finds Shearman & Sterling’s Sarah McLean.

“I wish I had known when I was first starting out that most people don’t mind when you ask them questions about their work or request feedback on your work — and the more direct the question, the better,” she notes. “Specific questions lead to better discussion and ultimately lead to better information for you.”

An Early Pivot Leads to a Rewarding Career

With an undergraduate degree in biochemistry and molecular biology, Sarah assumed she would become a research scientist or go to medical school. But in her last year of college she took a business law class that intrigued her with how problems and solutions are presented so differently than in science. That, coupled with the three years of research she had been doing on the pea aphid genome, led her to decide to pursue law school rather than research.

Her first job out of law school was with a Texas-based firm where she initially practiced health law — at the time still considering medical school—but ultimately didn’t find it challenging and switched to oil and gas private equity. She practiced with the same firm for almost 20 years, in both Houston and Austin, along the way closing more mergers and acquisitions deals than any other lawyer in Texas in 2017, according to the records of The Texas Lawbook. She then started thinking about making a change, to find a new challenge that would energize and excite her. She moved to Shearman & Sterling in April 2018, where she currently practices private equity and oil and gas upstream and midstream mergers and acquisitions.

Building the Business One Relationship at a Time

While Sarah is currently working on a number of complicated, interesting deals and transactions, what she’s most excited about is her role in business development—going out to see clients and contacts and introducing them to Shearman & Sterling. “We’ve put together an impressive team of oil and gas deal lawyers in Austin and Houston, and it has been great to get out of the office and talk to people,” she says.

She’s built an impressive array of contacts over the years, primarily because she figured out soon after starting her career that every person you meet is a potential future business contact. “I realized that reaching out to people you’ve met through business deals is a great way to grow your network of contacts, and the newer associates working on your early deals will be decision makers in 10 years,” Sarah says. “Developing long-standing relationships helps tremendously when you are asking for referrals and work.”

She often tells young women that an important trait to help build fulfilling relationships is getting over any shyness. “I was always hesitant to reach out to contacts for lunch or coffee because I thought they would be too busy or they wouldn’t really want to get together with me or a hundred other excuses. But ultimately I’ve learned that most people do want to form relationships and do have time for a quick check-in meeting,” she says. And, furthermore, even if they don’t have time or want to meet, they won’t be rude about it. “They just don’t respond, and someone not responding is not tragic or embarrassing at all,” she points out.

Taking Charge of Your Own Career

Sarah advises her peers of the value of sticking together and supporting one other, along with taking the time to nurture as many younger women as possible. She urges those in a position of authority or power in an organization to use it to dispel stereotypes and promote diversity.

While she recommends young women find good mentors and sponsors, she makes clear that often you have to make your own opportunities, rather than relying on them coming to you. “This means getting out of your office, meeting people and looking for ways to make yourself more valuable to your firm or company,” she says.

Women especially need to spearhead their own careers, because in her experience big law firms, along with the specialties of private equity and oil and gas, are male-dominated industries, which can offer some barriers.

One barrier in big law firms is what she terms “compassionate discrimination,” which manifests itself like, “I know Sarah is busy so I’m not going to include her on this pitch for new work because she has kids, and I don’t want her to have too much on her plate.” She found that this happened on a number of occasions, including client pitches where the client specifically asked for her. “I felt that men were making decisions about my career, my availability and my workload without even asking me, and this would not have been the case if I were a man.”

Despite this devotion to her career, Sarah seeks a balance with her personal life. As a mother of four children, ages 5 to 15, she spends much of her time participating in their activities or just hanging out with them. One thing she is especially proud of is all the volunteer work they do together. Sarah and her family are active with Generation Serve, an Austin-based family volunteering organization whose goal is to develop kids into community-minded leaders. This past April, they received the Wally Pilcher Family Volunteering Award for their work with the organization. She and her daughters are part of the National Charity League, and they also work directly with Austin Pets Alive.

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Denise Wyllie, Partner, Goldman Sachs

Denise WyllieWhen Denise Wyllie joined the financial services industry, it was even more heavily male-dominated, but she believes progress has been made.

“When I initially joined the sector, there were very few women in leadership positions,” she says, but notes this did not hold her back from achieving her goals.

“As women strive to become more senior, they need to embrace their career and remember they would not be in their current role if they were not good at their job, and they also need to trust the process.” She adds that success in many ways is more an attitude than a skill. “You have to embrace your role with 100 percent energy, passion and commitment – take risks and if they don’t pan out then try something new.”

Wyllie also notes, “You also have to accept that you can’t have it all, all of the time, therefore at points in your career something may have to give – that’s ok but make sure it’s your decision.”

Advancing Her Career by Approaching Challenges Head On

As a “STEM student” before it became a common acronym, Wyllie studied biochemistry at university. While she initially considered a career in the sciences, she decided eventually to pursue a business career. Her first role was as a graduate trainee at the largest brewing company in the UK – the first female ever hired to train as a brewer and production engineer. In this role, she was able to leverage her biochemical degree and received fantastic managerial training, overseeing an all-male team on the brewing production line.

After nearly three years in this role, Wyllie decided she wanted to pursue a new challenge. She scoured the Sunday Times’ career section and was intrigued by an ad for Citibank in London, searching for people with engineering or manufacturing backgrounds to work in their Foreign Exchange & Treasury Division. Wyllie went on to work at Citi in a number of management and project roles across Europe for four years. She ultimately joined Goldman Sachs after she was recruited by a former coworker.

Wyllie spent the majority of the past 24 years in operational roles in commodities, derivatives, and as co-COO of the global Operations Division, with specific responsibility for Europe, India and Asia Pacific. In 2016, she transferred to Hong Kong, where she now serves as head of the Federation for Asia Pacific, operating as the COO for the region. In this role, she supports all of the firm’s business activities across the region, which she calls “massively exciting,” due to daily challenges and curveballs.

However, what she finds most thrilling is the opportunity for Goldman Sachs and the broader finance industry to potentially expand in China in the coming years. “Although it can be frustrating that markets aren’t opening up more quickly, we are on the cusp, and long after I’m retired I’ll look back and see the impact my team and I had to help move the firm forward,” she says.

In fact, building her team is one of the professional achievements Wyllie is most proud of – along with becoming one of Goldman Sachs’ female partners.

She notes that observing the number of people she’s hired and mentored, who have grown from analyst to Managing Director and even Partner, is extremely rewarding. “When I see my team flourish personally and professionally, it is very gratifying to think that I may have had a bit of an impact on them along the way.”

Balancing Outside Interests: 72 Countries & Counting

Wyllie is proud to be involved with Goldman Sachs’ affinity networks, including those serving women, military members and the LGBT community. She also is currently working with colleagues in London on “Music in Mind,” a charity that uses music to help promote wellbeing in people with Alzheimer’s as well as provide support for family members taking care of those with the disease. She has also worked closely with Opportunity International, which provides small loans predominantly to entrepreneurs in Africa, with the aim of pulling them out of poverty.

Wyllie is a firm believer in the importance of taking every vacation day you’re given to maintain both mental and physical health, as it will allow you to enjoy your job more as well as give you sustainability and longevity to your career. “As much as we love our careers, we all need a break!” She encourages others to “take advantage of down time to reflect on your career and your business. Often, it’s only when you have some time off that you really have ‘space’ to think.”

She also loves to travel, having visited an impressive 72 countries. Her favorite sojourns include going on safari – either Africa or India – to see wildlife. She also visits the UK frequently to see friends and family, and she stays active by going to the gym regularly and loves weight lifting as well as skiing, scuba diving and horse riding.

By Cathie Ericson

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