Browsing Tag: amherst

    Tracking Drones with Weather Radar
    Articles, Blog

    Tracking Drones with Weather Radar

    September 2, 2019


    [MUSIC PLAYING] The Renaissance Center is a
    very ideal location for us for drone operations. It’s got a nice, big
    meadow over here. There’s not a lot of
    tall trees around. Over at Orchard Hill in
    the residential area, we have a CASA radar that’s
    looking at these drones. That’s being operated out of
    Knowles Engineering Building, where our student Jezabel
    Sanchez is actually operating the radar remotely. OK, let me know when you’re
    done with the mission. Drones are becoming
    very popular. If you look at the statistics,
    they’re increasing like crazy. All right, mission
    complete, Jezabel. You can do fun things with
    them, but they cause also sometimes trouble. Coming close to airports,
    sports arenas, other areas where they shouldn’t be. [MUSIC PLAYING] We do this with
    different drones to get an idea of what their radar
    signature is to get a better understanding how we can develop
    a detection technology out of it. Just a little speck in the sky. It is almost like finding
    a needle in the sky and not the haystack. [MUSIC PLAYING] All right, so we’re going
    to start mission three now. We are about half a kilometer
    away from the CASA radar, which is down in the
    Orchard Hill parking lot. And it is looking
    right here at us, flying a drone with this
    target coated with golden foil. That shows up very
    well, and that’s going to help us to improve
    the performance of the radar. The idea is here
    to look also into, can this be commercialized? So how can we get our
    work out of the lab and make it interesting
    for companies, for example. Obviously, there’s
    the delivery business. Can we actually support
    their operations with radars that can look
    at the weather and drones? So, flying them around
    weather, maybe not having them fly if the weather
    is too hazardous, so that we do everything
    in a safe, harmless way.

    Equity and Opportunity: Women in Finance
    Articles, Blog

    Equity and Opportunity: Women in Finance

    August 23, 2019


    So welcome, everyone. I’m really pleased to be here
    with some really wonderful colleagues and
    classmates to talk to you today about women in finance– women in the finance industry. So I’m going to briefly
    introduce the panel. I’m going to have
    each of these women talk a little bit
    about what they do and how they came to
    do that after Amherst. And then we’ll move on
    with the discussion. So my name is Amy Fox. I’m class of ’97. And I do not work in finance. I never have. But the reason I’m up here
    is that I am a screenwriter. And a few years ago, I
    was hired to write a film about women on Wall Street– a fiction film,
    not a documentary– a financial thriller in the vein
    of the Oliver Stone Wall Street or Margin Call. But the producers who
    hired me were really interested in the fact that Wall
    Street movies are very popular, and they’re very
    successful as a genre, but that they have almost
    never had any actual women characters– certainly not women who we
    see working in that world. And so our mission was to
    tell an entertaining financial thriller, but one
    that just happens to have women in the main
    roles as the bankers and also is a chance to examine what that
    world is like for those women, in ways that it may or may not
    be like for their colleagues. So it’s on that basis
    that I got the chance to be up here with these– [LAUGHS] Hello! [LAUGHS] With this
    esteemed panel. So I’m going to actually
    turn it to them. And if you would each
    just introduce yourself, and what you do, and talk a
    little bit about your path, and how you got there. Oh, I get to start. This is Angela
    Scott, class of ’82. Hello, I’m the lone wolf here. I’m the class of ’82. My name is Angela Scott. I currently reside
    in Connecticut. And I’ve been in the
    financial services industry in one way or the other
    for about the last 20 years. Prior to that, I had worked
    in other manufacturing types of industries and
    also the government. My background actually,
    from leaving Amherst, is a little bit unusual
    for most Amherst folks. I’m went into human resources. And from human resources, I did
    eventually get my law degree, practiced employment
    law for a while, and then decided
    to move inside– not so much to litigate or to
    defend, but more to prevent. I wound up doing a combination
    of employment law within HR to both explain
    compliance, explain regulatory
    requirements, but also do preventative work to
    stop some of the things that were happening within,
    not only the financial services industry, but all
    industries along the way. My specialty area is equal
    employment opportunity and affirmative action. I currently do that
    for Wells Fargo. And I have done that work
    or employee-relations work, preventative work,
    at other companies– MassMutual, Cigna, and
    also through things like Sony and BFGoodrich. Good morning. I’m Susanne Santola Mulligan. I graduated in ’97. I do investment banking. So when you watch the trailer,
    the lead character Naomi is an autobiography of
    myself in a lot of ways. I work at a firm called
    Guggenheim Securities, where I’ve been there for
    almost five years. I was hired to start the equity
    capital markets business there, which is the
    department that does the IPOs and the follow-ons. Prior to that, I
    was a Deutsche Bank. I ran their health care equity
    capital markets practice there for eight years. I also co-lead their Private
    Placement and PIPEs practice. And then I spent eight
    years before that at Thomas Weisel Partners
    and Montgomery Securities. So, 20 years right
    out of college, all in investment banking. I’m married to Greg Mulligan,
    who’s in the middle there. And I have two daughters,
    Hayden and Finley, who are eight and six, who are
    also here– hopefully you’ll make it through. [LAUGHS] We’ll try to keep
    it interesting. Good morning. I’m Molly Auth
    Manning, class of ’97. And I’ve been in the investment
    world for 19 of the 20 years since I graduated from Amherst. And I’m on the buy side. I started in sales
    and client service on the buy side in New York. Then moved to Boston,
    and have worked in investment consulting. And then, back again
    on the buy side for an asset-allocation firm and
    then now a fixed-income firm. And now, I have five kids. I have three stepsons– two little guys, one who
    is here joining me today. [LAUGHTER] And it’s a incredible
    balance to have kids and to try to do this. But it’s a lot of fun, too. Hi, my name’s Ashley
    McCormick Delahunty. I’m also class of ’97. I’ve actually been a lifer
    at Fidelity Investments. I joined right out
    of school and have had a lot of roles, all within
    the equity trading division. I’m currently running a
    portfolio-services team within equity trading. And like Molly, it’s
    quite a balance. I also have five children–
    two stepdaughters and then three little ones,
    one in the front row over here who didn’t want to
    go visit the animals. [LAUGHTER] But you know, I
    think, as Molly said, it’s a juggling act with
    kids, and work, and marriage, and life, and all
    of the things above. But as Molly said, it’s fun. And it keeps it interesting. Great. Thank you. So what I wanted to do
    just to start us off is– because I think the topic
    of women in finance, we’re going to get into
    some thorny issues, some not-so-great statistics
    and experiences, perhaps– and some good ones, as well. But I wanted to start us off– it feels a little bit
    like grade school, but I would love for
    each person to just take a couple of minutes
    and talk about what is the aspect of their work
    that they enjoy the most. Because I think that these
    words that, when you describe your job title, for people
    that are not in finance, those may not mean so much. But I would love
    to just hear what is it that gets everyone
    excited in their job. I guess it’s me. Little bit different
    from most folks, but I really enjoy
    making sure that people have a voice within
    corporations, making sure that people
    are treated correctly, and that if they
    have had issues, resolving them, finding
    a solution for them. That’s where my
    passion comes from. I like to win. Or that! In my part of the
    business, I spend most of my time trying
    to convince clients– companies– to
    hire my firm to be part of their IPO
    or their follow-on. So my greatest joy is when
    you’d spend all this time creating this presentation and
    getting to know the client, and then getting that
    phone call that says, yes, we think that you’re the
    right one to lead the deal. That’s certainly one of
    the things I like the best. I also like to win. I’m competitive. I like to coach, too. I coach my kids. But I think of my job at
    work a lot as coaching. So, helping other people,
    put them in the right seats, and give them the skills and the
    tools that they need to go out and help us win as a firm. And I love on the
    buy side, a lot of the clients I’ve worked
    with in the past are endowments and foundations, so,
    like Amherst College. And I love the idea
    that we’re helping them achieve their mission. So that’s been a big part
    of where I’ve worked, what I’ve chosen to
    do, and the feeling I get of success and
    appreciation for what I do. For me, actually, it’s
    also about winning. In trading, every trade, you’ve
    either won, or you’ve lost. And it’s very clear-cut. It’s very fast-paced. It’s very competitive. It’s very aggressive. And I think that
    just keeps you going. And everything that sort of
    falls into the current events, and a news headline can change
    the direction of a stock, instantly. And it’s being that being able
    to identify what that news headline is going
    to do to a stock, and being able to react to
    that, and work with your team to get the best results is sort
    of the exciting thing for me that keeps me going every day. Great. Great. Thank you. Yeah, so what I’m going
    to do is show the trailer for my film, which I think will
    echo some of these sentiments, actually. That was one thing
    that, when I set about to build
    this character who had been in investment
    banking for 20 years, we did a lot of research. Myself and my producers
    interviewed about 100 women and men that had
    worked on Wall Street. And that competitive sort of, I
    want to win, I want to succeed, I want to get the deal, was
    something that we heard a lot. And that seems really important,
    in terms of that drive. And it’s interesting, a lot
    of the women we interviewed had a background in athletics. Were you all
    athletes at Amherst? We all were. Yeah. I was not, which is
    why I’m in the arts. [LAUGHS] But it seems like
    those things do go hand-in-hand. So let’s watch the trailer. And then, what I want to do is
    talk about some of the themes that came up in my research
    and then ask you all to reflect on some of those. So can we queue it up? Thank you. [VIDEO PLAYBACK] – What’s that thing
    that really makes you want to get up in the morning? – For me, I guess the simplest
    answer is, I like money. [MUSIC PLAYING] – I work for the largest
    investment bank in the world. I have taken nine
    companies public. I am so glad that it’s
    finally acceptable for women to talk about success. – Are you still locking
    up drug dealers? – I’m actually in
    white collar crime. – You got a file on us? – We have a file on everyone. – I guess you’ve
    heard that talk. – They’ll be naming
    a new global head. – I’m going to be
    frank with you. The perception is that you
    rub people the wrong way. – Hm. [MUSIC PLAYING] – Remind me why I
    didn’t marry you. – Yeah, well, men like a
    girl they can take care of. – I’m going to take
    your company public. Are you ready to
    be the rock star? – Oh, yeah. – Big smiles. We’re going to make
    a lot of money. [GLASSES CLINK] – Well done. – This thing is getting hot. – You guys want in on this, now. – We just raised $250 million. – When Ed hits you,
    you have to handle him professionally and very gently. – Yeah, I know how this works. [MUSIC PLAYING] – He give you anything
    on the hedge fund guy? – He’s not going to
    give us anything. – Now, don’t go
    doing anything rash. You’re not in narcotics anymore. – Somebody leaked a
    rumor about my IPO. – I didn’t do anything. – Yes you did. Because you needed it. – You don’t know what I need. – You have nothing
    on me, do you? – Is that a challenge? – You’ve been investigating him? – I can’t really
    comment on that. – Did you leak this thing? – Are you wearing a wire? – This is all just a big
    game to you, isn’t it? – What else is there? [KNOCKING] – Is there a problem? – This doesn’t look
    like your year. – Secure? Yeah. Powerful? Absolutely. Don’t let money be a dirty word. [MUSIC PLAYING] [END PLAYBACK] Now, I’m just going to
    briefly talk about some of the things that came up in
    my interviews, in my research. And then, I’m going to
    turn it over and hear if there’s anything
    in what I say that echoes a specific
    story or incident you guys want to address. And we’ll kind of go from there. So a few things
    that came up when we interviewed many
    people– so, it was interesting because
    within finance, there are very different environments. So we were specifically doing
    this film about the big banks– the big Wall Street banks and
    that specific environment. And I do think that people in
    different roles in finance, the environments have some
    range and some specificity. We were also making
    a contemporary story. But many of the
    people I interviewed had actually started
    on Wall Street in the ’80s or even earlier. And that’s a slightly or maybe
    majorly different experience from what it is
    today, as a woman. So we were interested in
    making a film about now, but also understanding
    the context. So one thing that
    came up, particularly with the people who had
    started in the ’80s, but still goes on
    now, is the sort of very overt sexism
    or sexual harassment that you might hear about. And hopefully not
    as bad, but who knows– like a Fox
    News-like environment at some of these places,
    the kind of thing we might see in a movie
    like Wolf of Wall Street. And again, some sexual
    harassment, but also things like, one of the women who
    executive produced our film started– at the beginning
    of her career, she was told that the firm
    will not hire women for any job that involved
    travel because they were too delicate for that. So this kind of thing that
    was overt and policy at some of these places. And then, obviously some
    of that has shifted. And some of that has gone away. And some of that has potentially
    gone underground or behind closed doors. So that was one thing that
    I heard about from people. But beyond that,
    which I think is sort of the most obvious thing
    we think of when we think of sexism in the
    workplace, we heard about a lot of other things. We heard about the
    idea of perception and how women may be
    perceived differently at work. So you saw in the clip
    there, where her manager says you rub people the wrong way. And there are certain
    phrases like that seem to come up a lot
    in performance reviews and in feedback that
    women employees may get that they have sharp
    elbows, that they rub people the wrong way. These are sort of code
    words for “too aggressive.” And we heard a lot
    about people who had been in sort of closed-door
    discussions or performance reviews of women, who
    would hear this idea that a woman is either too
    aggressive, or she’s too nice. And there doesn’t seem to be
    a place for the assertiveness that you need to succeed
    in this business that doesn’t, in some
    way, work against you at some of these places. So that’s one thing, that
    idea of how you’re perceived and how the same action
    taken by a man or a woman might look very differently
    to those around them. So that’s one thing. Another biggie that some of
    you have already touched on, is the child-pregnancy
    and child-care piece, what happens when a woman
    decides to have a family. I’d be curious to
    hear from some of you. We talked to a lot of women
    who hid their pregnancies until the very
    last moment, which is what one of the
    characters in the film does. The idea that you don’t
    want that information out until the last possible
    second because it may change how you’re perceived. And then, also, the
    legitimate challenge of how you do a job that
    requires so much time, so many hours, such
    intensity, maybe travel, while also raising a family,
    and whether that does work against you. So that being another theme. The whole idea, also,
    of work-life balance, which I found that many women
    I interviewed hated that phrase and didn’t identify with
    the idea of a balance. That wasn’t how
    they perceived it. And then, just a
    couple other things. One thing that I found
    particularly interesting was hearing women
    talk about how they had internalized
    a lot of pressure and found ways that they
    were holding themselves back. So I heard a lot of people
    say that if a mistake is made, if someone doesn’t
    perform well, that it’s more likely that a woman
    will put that on herself, that she will lose sleep and
    think, how did I mess up? What could I have
    done differently? Be up in the wee hours,
    turning that over. And it’s more likely that a man
    will blame it on someone else. And I was really interested
    in that because that, to me, is something that definitely
    transcends Wall Street and happens in my industry in
    film and writing, quite a bit. So that’s another thing I
    found really interesting. And then, the last thing is– and I’ve heard a little
    bit of this up here, too– but one thing I loved
    about writing the film was being able to
    give voice to women who are proud to declare
    that they want to make money, that they want power, that
    want to win, as we heard. I don’t think we hear women
    talk about those things quite enough. And that was one of the
    things that really struck me. In one of the first
    interviews I did for the film, there was a woman describing to
    me some pretty horrific things that had gone on in her
    office in the ’80s, involving strippers coming to the
    office, all sorts of things. And I said to her, what
    got you through that? What kept you coming
    to work every day? And I think I expected
    her to say something about character and resilience. And I don’t know
    what I expected. But she just sort of paused. And then she said,
    I really like money. And that really took me aback. I just didn’t know that
    I’d heard women declare a love of money in that way. And so, I ended up
    working my into the film, as something that I was
    really interested in hearing that in a woman’s
    voice and in what that sounds like to people. And I asked the ladies in a
    phone call we did about that. So that’s another really
    interesting thing, for women to feel comfortable
    talking about ambition, talking about goals, in a way. And does that sound
    differently to us when it comes out of a
    female voice than a man? So those are the
    things that I’ve been toying with in
    writing this project. And also we’ve done
    a lot of screenings at banks and screenings
    in financial firms. And I’ve been on a lot of panels
    or handled a lot of panels like this. But I would love to
    turn it over to you. And I’d like to
    start with Angela. From the HR
    perspective, just what are the things that
    resonate for you? Well, it’s interesting
    because I’ll look at it from both a person
    and a professional perspective. First of all, most of the
    things that you’ve talked about are not unique to the
    financial services industry. That is true. That is true in
    virtually every industry. And I’ve been in a variety
    of different industries, doing the same type of work. I mean, people are people. They screw up regardless
    of where you are. Or they get harassed
    regardless of where you are. So I find that that
    doesn’t make a difference as to what the industry is. And when you think about it, I
    graduated in the class of 1982. That was 35 years ago. That, in 1982, was when the EEOC
    actually defined and created, so to speak, a terminology
    of sexual harassment. That’s the first
    time it was named. It was seen as something that
    somebody could potentially sue on, do something about. So if you think about it,
    that’s not that long ago. And prior to that, there was
    no recourse for most women. Currently, now when
    you think back of it, when you’re talking about, I
    do recall starting out in work with– HR would never get invited to
    a sales conference because, oh my gosh, what happens there. The stories of the
    strippers, the stories of the “friendly women”
    that would be invited to join the events, was such. And looking through
    expense reports post one of these
    conferences was always quite an unusual
    activity, to see what things people had the
    audacity to not only do, but think that they
    could charge the company. [LAUGHTER] I’m happy to say that that is
    not such a situation anymore. I do know that I
    went, in one case, I actually cleared out
    five layers of management in one industry for
    sexual harassment. So, there is a difference when
    you’re given the power to say, I will institute
    change, and you do, you see that there’s a
    difference in the work world, in how people come to work. Now, having said that,
    in many of the companies I’ve worked at, there have been
    women in top leadership jobs. When you think about it, I
    think back to, in one case, this one woman ran
    a line of business. And she used to talk about,
    you wear your armor to work. For men, she said,
    we’re in sales. We’re doing our battle. And our battle means
    you wear your armor. Men, you have to wear your tie. That is your armor. Women, I expect suits. This was not that long ago. I was rather
    surprised about that. But as far as she was concerned,
    that’s what you had to do. The other thing that’s been
    a significant change is FMLA. I’ve heard people talk
    in terms of having children, what happens when
    you are pregnant at work. When I was pregnant was,
    I had my daughter in 1990. Now I’m really dating myself. And I was the first
    professional woman to have a child at my
    organization, at that point. And it was funny because other
    women came up to me and said, we’re all watching you. We want to see what
    happens with you. We want to understand
    how they treat you. I was able to negotiate
    some time off and some time to work from home. But back then, that
    was not a guarantee. It was a one-off
    type of experience that you had to work with. Later, a year later, my
    husband had developed cancer. Again, no FMLA. And I had to, again, negotiate
    with my employer about, how do I take time off? How do I deal with my situation? And they were very willing
    and able to work with me. But now those are
    rights that they take for granted in many
    ways, where back in the day, that wasn’t the case. And those were grounds
    for termination. Companies themselves,
    financially, are really making a
    change in looking at this as a dollars-and-cents issues. Women in top leadership– if
    you have women in top jobs, it produces a 30%
    higher return on equity. That’s a
    dollars-and-cents issue. It’s not so much a
    matter anymore of, well, this is a nice thing to do. It’s now a matter of being able
    to trot out the numbers, being able to show, here’s what
    the return on investment is for making sure you open
    your work ways up to everyone. Unfortunately, now for the
    financial services industry, there is a real challenge for
    women, for people of color, within the industry, primarily
    because of the emphasis on the STEM careers. The STEM careers
    are siphoning off what used to be
    one of the major– women would go, who were in
    the technology field, who were in the mathematics, who
    were in the finance field, would go into finance. Now they’re finding there’s
    alternatives with the STEM careers. And as a result,
    since 2000, there has been a 16% decline in women
    going into financial services. Now unfortunately, that’s
    versus an 8% decline for men going into
    financial services. So without that
    pipeline there, you’re never going to have
    women in those top jobs. And that becomes a real
    issue because in order to institute change, you’ve
    got to have the pipeline there. Unfortunately also, within the
    pipeline, what we have found, is that the higher up
    women get, typically they will go into some of the
    so-called “soft careers.” They’ll go into human resources. They’ll go into the
    administrative services. They’ll take themselves
    out of the operations mode. And that’s partially
    because it’s a way to deal with
    the work-life balance. Most of the women I know who are
    in senior management positions, who are heading up
    lines of business, especially if they’re
    in the operations, if they’re in the sales,
    have househusbands. That’s the secret that most
    people don’t talk about, is that most successful
    women actually have a husband
    who’s a stay-at-home or who works out of their house. Now, that’s anecdotally. I have to admit, I had
    one of those too, so. [LAUGHS] And it’s your way
    you can balance the family, the commitment, and the
    who-picks-up-the-kids. So, I’ll stop there. Susanne, does
    anything gel for you in what we’re talking about? I often say at work
    that I need a wife. [LAUGHTER] I don’t have a
    stay-at-home husband. But I have a very
    supportive husband. And together, I think we tackle
    everything as best we can. Oftentimes, I feel like I’m not
    doing my job as well as I can, and not being a parent
    as best as you can. It’s, you know, a constant
    struggle every day. One thing that you had
    said about the sexism– I’ve been lucky
    that I haven’t had any overt sexism, or
    overt sexual harassment, anything like. I’ve been fortunate that
    that’s never been a problem. But the undertones
    are always there. The first 10 years
    of my career, when I was an analyst
    or associate or VP, it was never really
    an issue at all. I feel like at those
    levels of your career, you get compensated based
    on like great work ethic, and doing a good job, and
    having a good attitude. But the moment I
    became in the level where you are compensated
    based on the revenue that you generate– totally different
    once that happened. Then all of a sudden,
    I’ve tried the, head down, and work really hard,
    and let your results speak for yourself. And that is a nice
    pat on the back. But you’re not doing as much
    as some of the other guys are doing. And then I’ve tried
    the, in your face, meeting with the head
    of investment banking along the way to make sure he
    knew everything I was doing. And then I got the– sort of like your
    comments in the movie– well, you’re a little
    too aggressive, or you’re a little too showy,
    or you’re in my face too much. You should really
    take a step back and let the results
    speak for themselves. And at my firm, by the
    way, I’m the only woman in a senior role, the only
    female managing director. Every Monday we have a SMD-MD
    meeting and standing-room-only in the boardroom. [COUGHS] Allergies are
    killing me right now. And I’m the only woman. There’s no
    principle-level women. There’s no VP-level women. And then, we have a bunch of
    the associate and the analysts. So they really don’t
    know how to deal with me. So I deal with that
    a lot, as well. Yeah. I grew up with four brothers. So I grew up with
    the attitude of like, I can do anything they can do. And they would push me around. And I thought that was
    going to make it fine. And for the most
    part, it is fine. And I find myself in
    that situation Susanne just described all the time. And that part doesn’t faze me. The sexism– it
    certainly happens. I mean, I was 23 and just trying
    to make my way at a firm in New York as an analyst. And my boss told me to take
    a client out to dinner. And I was worried. My thought was like,
    is my credit card going to be able to
    cover this thing. I don’t even know. Like, I’d probably had a
    $500 limit at that time. Like, how is this going to work. And he followed with–
    is it OK if I say– isn’t that really bad
    in front of your kids? Yes. [LAUGHS] He followed with, the woman
    who used to do this before, she got them laid. And I was like, oh, crap. Like, OK. And so, I went to
    the dinner because I didn’t know what else to do. Took them out. And the whole
    time, I’m thinking, I did not invite any– he
    said, bring some friends. Because the last woman,
    she used to get them laid. And I didn’t invite any friends. And I sat there and
    maybe had half a beer. And as soon as the waiter
    walked by, I slid my card, paid for it, and ran away. I was like, I can’t
    even function in this. And it gets better. And things like
    that aren’t as bad. But you know, it happens. This week, I was talking
    with a colleague who reports to me, but about somebody else. And we were sort of
    gathering information. And the other colleague
    had made a mistake, had sort of overshared
    in a client meeting. And he said, well,
    I attribute it to, you know, she says
    she’s a new mom. And I thought, would you
    say that about a new dad? Like, she’s got a
    5-month-old kid or something. Yes, I’m sure she’s tired. But are we really
    still saying this? And I don’t think
    that’s finance. I think that exists everywhere. But it’s really frustrating. And, Angela, you said
    something about how people, when you were pregnant, people
    said they were looking to you. I think that’s huge. Having a group of
    people, friends who are in your same boat,
    going through it, is huge. I mean, I give you credit. I can’t imagine people who
    did it 10, 15 years before me, because how much harder
    it must have been. And it’s hard now. But how much harder it must
    have been without anybody, even, so you don’t have
    anybody at your firm. But I’m sure you have
    a network of people that you can talk to and go to. Not having that,
    I think, I don’t know that I could have done it. I think for me, to
    echo that point, I am actually the only
    woman on the trading desk that has children. And anyone that had got pregnant
    actually didn’t return to work. So I think, when I was
    having my first child, which I think I was like 37 or
    38 when I had my first child, there was a lot of eyes on me. And there was a lot
    of pressure for me when I did come back to work
    on how people would view me. Being on a trading desk, I
    think the sexism is definitely– it still exists. I think it’s sort of
    behind closed doors. And I think in the first 15
    years of my career working on a trading desk,
    you were going out, you were going to
    parties, and you were just trying to be one of the guys. And I also grew up
    with three brothers. So for me, that was an
    easy transition for me. But I think now that
    I’m not going out, and doing client events,
    and going to parties, because I have three
    young children, I think the perception of me on
    the trading desk has changed. And people have said to
    me, oh, now that you’ve had children you’ve become soft. And for me, the one
    thing that I really remember about how I survived
    all these years on a trading desk was never to let
    your emotions show. Never let– not to be soft. To be– I’m not going to say
    this in front of the kids– but to be the “B.” And that’s what you
    needed to do to survive. And I think that’s what did help
    me make it on a trading desk and not be that statistic
    of all of the other women not being able to feel like
    they could have a family and work on a trading desk. So I just think it’s– back to the point of
    having an example. I wish I had examples of
    women that were able to do it. But now I sort of
    feel like it’s on me to lead the way
    for younger women to show them that they
    can have a family. They can get married. They can have a family. They can do the balance. And you don’t have to
    be one of those stats. That’s really hard. I’ve had colleagues
    and bosses say, we really want you
    to keep trying this. I know you feel like
    you’re cutting corners. I know you feel like
    you’re leaving early to go coach a kid’s
    team or something. But you’re the example. Keep doing that. And I love that. And I feel really it’s
    a huge responsibility. But I’m happy for that. And it’s exhausting. [LAUGHTER] You do feel like, are you sure? Are you really sure
    you want me to do this? And everybody’s looking
    at me like, is this OK? And it mostly feels great. And it sometimes feel awful. When I went on maternity
    leave my second time, I was a revenue
    producer at the time. And on the way out– yes, with you, Fin. [LAUGHTER] When I went out, my boss was
    like, have an amazing maternity leave. Don’t worry. We’ll take care of things here. But you know any revenue that
    gets generated for your clients when you’re not here, you can’t
    really get credit for that. Oh my gosh. Literally the day I’m leaving. So I had Fin. And four days later,
    a client that I’ve been working on for a year
    decides to raise money. So four days into maternity
    leave, I call Greg. And I was like, do
    you hear anything? He was like, what? I don’t hear anything. I was like, are you sure
    you don’t hear anything? He was like, no. I was like, OK, I have to
    get on a work call right now. And I’m pumping. And I want to make sure that
    you can hear it when I’m on the phone with the client. [LAUGHTER] But four days in, I
    executed a full deal from the confines
    of my own home so I could make sure I got
    credit for the revenue. My husband took a picture of me
    in the hospital with my second on a computer trying to answer–
    because I had him early. And I wasn’t totally ready. And I was trying to tie up some
    things and answer some emails. And he’s like,
    what are you doing? And I’m like, well, I
    don’t want to let it drop. And my company wasn’t
    telling me I had to. But you don’t want to
    drop that stuff, either. It’s hard. It’s funny because I think
    one of the lessons learned was you never want to
    let them see you sweat. That’s the best way. You just would
    say, I can do that. No problem. Get it done, whether
    you’re working till all hours in the evening. You go home. You feed your kids. You wind up putting them to bed. And then you start your second
    job of working at that point. So you do wind up with
    various issues that come up. But also, as you’re
    in these meetings, you learn to be
    almost impassive so that you don’t see the emotion
    come one way or the other. And then in many cases, when
    you do finally show the emotion, it makes a bigger
    difference to them. When I had started
    out, I remember at one point I was
    the first woman in this labor-relations group. And the union did not
    know what to do with me. And they would actually start
    fighting amongst themselves about whether or
    not they could swear in front of me,
    what kinds of things I would or wouldn’t know. They would go back and forth. And I would just have to
    sit there and say, you know, when you guys figure out
    what you’re going to do, then I’ll tell you what
    my ruling is on this case. But until then. And you start using
    it to your advantage and to say things
    like, [GASPS] you mean, little old me could have
    done that work, too? Oh, yes, little lady, even you. So why are you suing
    us for whatever it was as preferred work? So you learn. And in many ways,
    I will admit, I would use that to my advantage. Figure if they’re
    going to play the game, might as well do the
    same thing at times. Yeah, so you guys have
    touched on a few things that I wanted to talk about. So one is this idea
    of role models. And I wanted to know who
    your role models were. And also, you’ve already
    spoken a little bit about having to be a role model. And I guess, specifically,
    as people with children, or people in a setting,
    like if you going to speak to some recent Amherst grads– I mean, would you encourage
    people to go into this field? So it’s sort of a
    three-part question. But who were your role models? And were they men or women? And we’ve already
    heard a little bit. But what’s it like to be
    a role model yourself? And then, what might you say
    to a woman considering finance? Yeah, I do a lot of
    recruiting of women. And I tell everybody,
    regardless– woman, man, blue, white, pink– you have to
    have a role model or a mentor. It was crucial for me. In the first 10
    years of my career, I was fortunate enough
    at three different firms to work for the same man. And I didn’t even
    appreciate it at the time at what an amazing mentor
    and role model he was. He not only taught
    me everything I know, but he fought for me internally. And you would go
    to client meetings. And I would be 25 years old. And he would ask in front
    of the client, what’s your opinion, Susanne? So to get me involved
    in client interaction very early on for
    a period of time. We didn’t even live
    on the same coast. And if he would get a phone
    call, before he would pick up the phone call, he would
    call me in New York to get me on the
    phone to conference me in, so that I could be
    a part of the conversation. When we no longer worked
    together after my first 10 years, and I had a
    new senior manager, I just assumed that that
    was the way it was, right. And now Jeff was going
    to become my consigliere and do all of those
    things for me. And I quickly learned that that
    was not going to be the case. And I have actually
    struggled for the second 10 years of my career, not having
    that role model or that mentor. So I tell junior people all the
    time that you need to have one. And I also say, it’s
    easier said than done. You can’t wake up and
    say, OK, today on my list, I’m going to get a mentor. And I’m going to
    blind email somebody and ask them if they’ll do that. It doesn’t work that way. It’s way more nuanced. But being able to find somebody
    that you connect with early on is very, very important. And then, in terms
    of would I encourage women to go into
    the field, I mean, I do strongly believe that
    investment banking coming out of college is arguably
    the best career path you can do for three
    years out of college. I think there is
    very few jobs where you are going to work
    that hard, but learn that diverse skill set,
    get as much responsibility, as much client interaction. And I do think having that
    on your resume early on can enable you to steer into a
    thousand different directions. So I do still think
    it’s a good career. I guess, I had a
    different experience. I actually can’t really
    think of a role model that I had at my firm. And I think that’s
    very disappointing. But I think what
    I take from that, is I sort of want to be the role
    model for a younger generation. And it’s a tough
    balance, as I think you were very lucky to
    have a male role model. And I know they’re out there. I just think it’s a very
    different perspective. You know, if you see a guy
    leaving to go to a soccer game, you say, oh, what a great dad. He’s going to his
    kid’s soccer game. But if I leave to
    go to a soccer game, I think the perception is,
    oh, she’s leaving again early. She must not care about the job. Or she isn’t giving it 110% that
    she used to be able to give. So I think companies,
    like the one I work for, I think they
    say they want to set up mentors and set up role models. But until you find
    that perfect fit, I think it’s something really on
    paper and not really something that exists for me. I had a great role model
    who, like Susanne’s boss, for the first two years that
    I was in the industry invested in me, and gave me a chance,
    and took me on trips, that I look back,
    and I’m like, I don’t know what the hell
    he was thinking because I didn’t know what I was doing. But it was awesome of him. And we still get together. But it was a pretty short
    working relationship. My greatest role
    model is my mom. She worked for 30
    years as a teacher. And she balanced it all. And she’s phenomenal, so. Yeah, it’s an interesting thing. Pretty much every woman
    that I interviewed who had stayed in finance
    and really climbed up that ladder had a male
    mentor or sponsor who seemed to be really
    looking out for them, and making it possible to bring
    them up, and to support them. And it’s an
    interesting thing when we talk about what
    men in finance can do to encourage and support. And I think that now if you
    have more women in leadership, women can also do that. But for a long time, the
    women weren’t in leadership. So you needed men who
    were willing to do that. And those who did, I think,
    made a tremendous difference on what the industry is
    starting to look like now. Great. We just a few more minutes. I wonder if we should take some
    questions from the audience. Sure? This theme runs,
    I think, very true to women in the law [INAUDIBLE]. This is very familiar. But I always feel also that
    we’re focusing a little bit on the negative. And I wanted to ask
    you, what have you found that you’ve been
    able to use as a woman or as an Amherst grad
    to your advantage? I mean, what advise
    would you give that’s worked for you,
    either from your family or your educational background
    that’s helped you succeed? Because clearly, you’ve
    all done very well. It’s a great question. Yeah, thank you for turning it. Early on in the career,
    I always found myself that I stood out, right. Just physically,
    I looked different than the male in the
    white shirt and blue tie. When I went with a team
    from Thomas Weisel Partners to Deutsche Bank, and
    I was the junior person on the team at the time. There were three of us. And we went all over the
    firm to introduce ourselves to all the different
    industry groups and all the different areas
    of the firm that we were going to work with. And I found that I was getting
    all of the inbound follow up. And my boss, who was the
    same guy, by the way, was joking a little bit,
    but a little bit not. And was like, why are
    they all calling you? Why aren’t they calling me? I’m the boss. I’m the boss. And I was like, because they
    don’t remember who you are. [LAUGHS] They know who I am, right. I have a different name. And I look different. So I used that. And now I absolutely
    use to the advantage of being a woman when there’s
    a woman on the other side. If it’s a female
    CEO or a female CFO, there is definitely a
    club that women want other women to help succeed. And that’s certainly an angle. And also, if it’s a very
    aggressive male CEO, I find that they
    behave differently when there’s a woman in the room. So if it’s a
    difficult conversation or is going to be a
    very aggressive meeting, for whatever reason, I find that
    I can defuse the situation just by having a
    different perspective and different personality. Greg likes to tell people that
    I can get people to tell me things that other people can’t. But I think that’s some of the
    differences of being a woman that I’ve used to my advantage. I have a question for Ashley. A few years ago, the founder
    of Fidelity decided Or retire. And he turned over the
    operations and the CEO position to his daughter, Abigail. And I’m curious, has there been
    any perceptible change that you’ve noticed, in terms of
    the way things are at Fidelity under her guidance
    versus her dad’s? I think she has a
    great team around her. And I think the difference
    that I’m noticing now, is that they really are focusing
    on the younger generation and how to bring that younger
    generation in as clients. They’re more focused
    on technology. They’re more focused
    on cyber attacks. Mr. Johnson had his
    way of doing things. And he built the company
    into what it is now. But I think she’s
    sort of realizing, how do you take the
    company to the next step. And you have to focus on
    the younger generation. And whether they do Ted Talks– and it’s just a very
    different perspective. Even though, she’s not
    necessarily young herself. She’s probably in her
    50s, I would think. But the team that she’s built
    around her and underneath her gives her a
    different perspective to lead the company in the
    direction she wants to take it. 50 is young. 50 is young, yeah. [LAUGHTER] Yeah. [LAUGHTER] [INAUDIBLE] some of the top
    hundred companies in America are now run by–
    the CEOs are women– IBM, General Motors,
    Hewett-Packard. I mean, you can go
    down the [INAUDIBLE] very serious women in
    very serious positions. Do you think that’s
    going to help, in terms of providing more
    fluidity for women to advance? Or do they just stay away
    from that whole issue? I think you find that
    if there is a woman CEO, there is a tendency to have more
    women flock to that business because they are anticipating
    that it may be a more open community and more
    advantageous for promotion, for the ability to
    move through the ranks without having the stigma
    of being a woman or being an “only.” Whether or not that’s
    actually the reality, in many of these cases
    remains to be seen. In some of the cases, you
    look at certain women who– prior CEOs, they
    took the tactic of, I will be successful by being as
    much like my male counterparts plus as possible. Others looked at it differently. So it goes down to
    really, I think, an issue of each individual
    style, and how they manage, and how they lead the
    company and the organization, and what culture they set
    for that organization. Yes? Hi. I’m also going to
    continue the discussion. [LAUGHTER] I have three daughters,
    and all of whom are professionals in
    [INAUDIBLE] You each are talking about
    being a role model. That’s part of what you
    view as your responsibility, your opportunity, and
    your joy is in this. And I guess my question
    is, as role models, do you see your opportunity
    to promote assimilation in the systems that you are
    operating in or transformation? And I guess, if it
    is transformation, what are the elements of
    transformation [INAUDIBLE] by women in the
    services industries [INAUDIBLE] Finance,
    advertising, that women are [INAUDIBLE]
    better for them and for the company
    which [INAUDIBLE] Can I take a stab at this one? Sure, yeah. As a woman, as a person of
    color, when I first started out people would always
    talk about assimilation. In fact, at one
    company I had, they had talked very strongly about
    diversity, about inclusion. But in reality, their
    culture and their practice was, OK, we’ve hired you
    because you’re different. Now be like everybody
    else and assimilate. What I found, for myself
    at least I can speak to, it’s transformation
    is what’s critical. My very presence in
    many of these companies, my very presence in
    many of the rooms is transformative for people. It, in many cases,
    takes them a while to understand what
    I bring to the party or to listen to me in the same
    manner in which they may listen to other colleagues of theirs
    who may visually look similar. But once you break
    down those walls, you do find that there’s
    an understanding then of the diversity of
    thought and creativity that comes from having
    differences in that room, and that there’s
    different functional ways to look at things. So, having people understand
    that not only transforms them within that organization,
    but also, I contend, transforms them
    outside of the company. In the majority
    of organizations, most people only
    meet and interact with people who are different
    than themself at work. Our neighborhoods
    for the most part are still not always
    very well integrated, aren’t very different. You meet people who are maybe
    in the same class as yourself outside of the work area. So what winds up happening
    is, when you get into the work world, it’s really
    an opportunity to experience differences, and
    through that, appreciate that. So I think it’s
    transformational. I really, really
    appreciate that. I would just say, I’ve
    thought about this a lot, too, because in the film we
    explored a lot of the darker side of some of these issues. And the film– spoiler alert,
    I hope you will still see it– but it doesn’t have
    a very cheery ending for our lead character. And a lot of times, when we’ve
    screened it, particularly in settings where it’s
    people in financial services, I’m asked the
    question, well, how do you think this
    film would inspire women to go into finance? And the subtext of
    that is, why are you focusing on the
    negatives if you want to inspire the next generation? And I came to respond
    to that by saying, maybe I’m trying to inspire the
    institutions to change instead of the individuals. I think there’s often a
    theme in this country of sort of feeling like
    individuals, it’s on them to fit in, to
    assimilate to a system that may be in some ways broken. And I think that
    institutions ought to be as capable of
    change as people. It’s harder for
    institutions to change. But that’s where I would like
    to see the onus for change on the institutions and
    less on individuals. It’s a good point
    because the culture only changes from the top. And I don’t want to
    speak for you guys, but it sounds like we’re all
    saying similar things, which, at least for me, it’s
    like, I do my part. But look, I work for a
    boss that likes face time. And he has a group of 10 people. The rest are all men. And they either have
    a stay-at-home mom, or they’re not married,
    or they don’t have kids. And I have spent the last
    two years educating him on the 21st century and that
    I might not be at the desk, but have you ever had a client
    say they couldn’t reach me? Have you ever not
    been able to reach me? Have I ever not responded
    to an email timely? Have I ever dropped
    the ball on anything? Have I ever not done as much
    business as everybody else, if not more than
    everyone of the group? And slowly he’s starting to
    realize that, yes, you have to adapt to the 21st century. But he also has to be the
    one, when I’m not there, and he hears his
    team making comments, to shut it down, right. And he’s not encouraging
    that behavior. But he’s not
    shutting it down yet. And I think, again,
    it comes from the top. And that’s hopefully
    the next step. OK, we are at time. I thank you all so much. I think they have two
    questions over there. Yeah, I think we got to wrap
    up because there’s someone else coming in the room. But thank you so much. And thank you to my panelists. [APPLAUSE] Thank you. [APPLAUSE]