2003 Women on Wall Street Conference
Strategic Risk: Taking the Leap Toward Greater Reward
The 9th Annual Women on Wall Street Conference
October 7, 2003
On October 7, 2003 Deutsche Bank and the Global Partnership Network for Women (GPNW) hosted the 9th Annual Women on Wall Street Conference, entitled "Strategic Risk: Taking the Leap Toward Greater Reward."
View photos from the 9th Annual WOWS Conference.
This year's panelists included Betsy Gile, Global Head of Loan Exposure Management at Deutsche Bank; Mellody Hobson, President of Ariel Capital Management; Peg McGetrick, Co-Founder and Managing Partner at Liberty Asset Management; Leslie Perlow, Associate Professor of Business Administration and Organizational Behavior at Harvard Business School; and Jennifer Sabin, Managing Partner at Sabin & Zander. The panel of five successful women was expertly moderated by Vickee Jordan Adams, US Director of Communications at Hill & Knowlton.
Roelfien Kujpers, Deutsche Bank's Global Head of Strategic Research and Planning, introduced the event's theme saying, "In the world of finance, the balance between risk and reward is something that we weigh everyday. Risk, as it relates to our careers, means taking a leap which may not always be in the direction in which you set out and the rewards may not always be financial."
Tom Hughes, Global Head of Asset Management, welcomed all of the participants and attendees. In his address, Hughes encouraged everyone present to be the catalyst to her own success, saying, "Every organization is looking to give talented individuals the opportunity to fulfill her full potential. But you have to volunteer for stretch opportunities. You have to raise your hand, you have to take a risk."
When Adams asked about taking risks early in their careers, the panelists all agreed that their choices did not strike them as risky at the time. Echoing Hughes' sentiments about taking charge of one's own career, all of the panelists shared stories of occasions when opportunity knocked -- and they volunteered to take on projects that stretched their abilities. Sabin, herself an entrepreneur at a very young age, described her choices as "seizing the moment and taking responsibility for what had to be done."
In discussing career planning strategies, all of the panelists stressed the importance of being passionate and hardworking over being calculating. Hobson who, just out of college, opted to work at then tiny Ariel Capital Management over a larger Wall Street firm, noted: "There is a direct correlation between hard work and success. My advice would be to love your work and do it well. If you build excellence and expertise, the opportunities will come."
Building on this topic, Gile spoke about the importance of exploring nontraditional opportunities, pointing to her own choice to join JP Morgan's burgeoning credit derivatives team in the late 1980s and early 1990s, when many of her colleagues were following more established paths, like M&A. Gile urged attendees to "look for opportunities to distinguish yourself." The audience responded with laughter and applause when she shared an anecdote about learning to play tennis as a child: "My father told me you don't have to hit the ball harder or faster than anyone else. You just have to hit 'em where they ain't."
Finally, on the subject of "having it all," the panelists -- evenly split between those with families and those without -- agreed that everyone has a unique definition of having it all. Perlow summed it up by advising, "Think about what you want, not about what the person to your left or right wants for you. And don't be afraid to make the choices to make that happen."
Speaking after the conference, Karen Meyer, Global Head of Diversity said "Demand for this conference was so overwhelming that registration was filled only 1.5 days after opening. This great turnout and the sheer excitement generated by the conference demonstrates to all of us that Women on Wall Street meets two key needs women still have in financial services: exposure to female role models and forums in which they can build networks."
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