Stephanie Cohen, Chief Strategy Officer, Goldman Sachs - Topio Networks The program is self-sustaining in that schools pay for it with money set aside for a literacy specialist. Goldman's Stephanie Cohen Says Firm Can Work With Financial Newcomers Just this spring Cohen was tapped for an exciting new assignment creating and heading a new group, Global Financial Sponsor M&A. She has seen that men in the workplace tend to be better at blending their personal and professional lives, and using that to create more client and networking opportunities. Stephanie was always on those lists," Mass told The Cut in 2018. Your role model doesnt have to be someone who is similar to you in every way. First Republic Bank was shuttered by regulators early Monday, and all its deposits and most of its assets were acquired by JPMorgan. Cohen consulted the advisers that she calls her own board of directors, asking them whether she should leave a client-facing job. But she is quick to point out that this is no PR ploy on behalf of the bank: "This is not philanthropy. Diversity in the ranks at Goldman and at the companies it invests in is a priority for Cohen. Ms. Gutwein (left), 32, is taking Ms. Cohens surname. "So it's just a lot of fun.". 2023 Fortune Media IP Limited. In November 2017, then-CEO Lloyd Blankfein tapped Cohen to replace Stephen Scherr as chief strategy officer, elevating her into a role with an office on the 41st floor, where Goldman's executive office is located. You have to believe you have a skillset thats going to be transferable [to that job]. Stephanie's process looked similar, he said. Cohen decided to take the job, and returned to M&A a year later, as a managing director. By years end, 40% of its employees were working in those locations, the company said. By living and breathing the deal, she came away highly impressed with how much the employees cared about the company, and the resulting turnaround and pride in the positive strides they made in relation to the quality of their cars. Rabbi Jodie L. Siff officiated at Studio Square, an events space. Cohen is a member of Goldman Sachs' Global Inclusion and Diversity Committee, serving as global executive of the Women's Network. Internal politics won't help. Stay up to date with what you want to know. "But without her it fails and falls apart.". (Insiders said that Cohen's cohead, the 35-year Goldman veteran York, will be more focused on the wealth-management side of the business. Assisted by David Haber, a member of her team and a former startup founder with deep relationships in the technology industry, she embarked on a "listening tour," meeting more than 50 of venture capitalists and entrepreneurs in conversations she began by asking questions and soliciting advice about what Goldman could do better. Complimentary access to top ideas and insights curated by our editors. . Her mother is the director of the early childhood center at Temple Beth Sholom in Roslyn Heights, N.Y. https://www.nytimes.com/2012/12/02/fashion/weddings/anita-gutwein-stephanie-cohen-weddings.html. And she's what I call a three-dimensional thinker," Friedman told Insider. Her primary job is finding acquisition prospects and partnerships for Goldman. If youre not getting negative feedback, its not because youre perfect. By Stephanie Cohen Feb 3, 2020 Activity I enjoyed sitting down with LSE Focal Point and sharing thoughts about my career at Goldman Sachs. She started as an analyst in 1999 and has held a series of leadership positions in mergers and acquisitions. It doesnt have to be one thing or the other; its about making spending decisions consciously rather than scrolling on your phone and thinking about what youshould spend on., What Ive noticed at Goldman Sachs isthat men tend to talk about investment opportunities amongst each other. Stephanie Cohen is Global Head of Platform Solutions and a member of the Management Committee. Bringing in young talent and training those people will benefit not just Goldman but other companies around the city looking for engineering talent, she said. Profile of Stephanie Cohen, Goldman Sachs Consumer and Wealth - Insider The role showcased Cohen's approach to learning something new, and she set out to learn more about strategy and emerging technology, already convinced it would be a critical driver of Goldman's future. analyse how our Sites are used. Cohen was a competitive figure skater who dreamed of making it to the Olympics. Contact the Facilities Manager or the Events Coordinator today to discuss hosting your . Certain aspects of that experience were actually helpful: for one thing, people usually remembered what I had to say. Goldman Sachs. Stephanie Cohen - Barron's For reprint and licensing requests for this article, https://www.linkedin.com/in/mary-ellen-egan-97506b5/, Swift works to bridge 'digital islands' of CBDCs, 20 bank holding companies with the largest consumer loan portfolios, Bank runs, fraud and faster payments: FedNow's impact on regulation, JPMorgan Chase, FDIC put an end to First Republic's slow bleed, Conflating issues or missing the point? She graduated cum laude from New York University and received an M.B.A. in May from Indiana University. (Cohen declined to comment for this story, but Goldman provided a list of seven people it said were willing to speak on her behalf. She joined Goldman after graduation, in 1999, assuming she'd spend two years there and head off to law school. She is a daughter of Cornelia Gutwein of Albertson, N.Y., who retired as the principal from Flushing High School in Queens. Goldman Sachs consumer exec Stephanie Cohen explains why the Wall For a health check on consumers, Kriti Gupta and Tom Mackenzie spoke. She went on to a more traditional M&A role in the industrials team. Your session has expired, please login again. You are now subscribed to our newsletters. On Monday, the company unveiled a branded terrace at the University of Texas at Dallas in Richardson that it hopes will inspire students to want to learn more about Goldman Sachs, she said. Ms. Cohen serves on the National Board of Directors of College Spring and as a member of the Board of Quill.org. It was during a stint in the conflict and business selection group that her work stood out, according to a person who worked with her at the time. She started as an analyst in 1999 and has held a series of leadership positions in mergers and acquisitions. But there's still some wrinkles that need to be ironed out so it can work with its cousin from The Clearing House. . "I learned a lot about the power of perseverance from figure skating," Cohen said in the Q&A. Two others who take a similar approach are John Collison at Stripe and Daniel Ek at Spotify, he said, adding that both "do an unbelievable beginner's mind immersion and emerge two months later knowing more about it than anybody else because they're willing to take a backseat." Most Powerful Women 2019: Stephanie Cohen | Crain's New York Business Solomon has long touted the consumer division as playing a key part in Goldmans future. . Closing the Gender Investing Gap. Most Powerful Women in Finance: No. 17, Goldman's Stephanie Cohen Shes about 10 years younger than the average man already on the committee, after becoming a partner just four years ago. Instead, she recommends creating a personal board of directors, and incorporating aspects of individual people that will help you in your career. The business is not yet profitable but is expected to hit revenue of $4 billion by 2024, she said. Money is power, Go with the gut or start a spreadsheet? Cohen a bubbly 45-year-old who wears trainers and tilts back on her chair during an interview as though she is about to bounce right out of it was appointed to lead Platform Solutions last year. Consequently, they can be prickly customers. By 2015, she headed the global financial sponsor M&A group. Goldman Sachs Group wants to be your digital banker, and it has assigned the job to Stephanie Cohen, marking her second year on the Barron's list. 448 views 1 year ago Girls With Impact called on America's business leaders to share their advice with the next generation of women leaders. The high . The delicate transaction was a milestone in the carmakers comeback after the financial crisis. New York: The venue was the Gotham Club an exclusive den inside the San Francisco Giants home stadium. By doing that, you can actually, authentically be the person you want without assuming that you have to be someone else., Make it easier to make the right decisions. Voice of Experience: Stephanie Cohen, Managing Director, Goldman Sachs Prior to her current role, she spent the majority of her career in the investment banking and M&A divisions at Goldman. In the latest in a rapid . Stephanie Cohen, EVP Wealth at Goldman Sachs,. The bureaucratic asterisk is likely meant to avoid upsetting senior executives whove spent much longer trying to get on the panel, without luck. Powered and implemented by Interactive Data Managed Solutions. Cohen and her team began to read Ben Thompson's website, Stratechery. "But she is savvy enough not to let it be something that holds her career back.". FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. Wall Street can stop wondering who the most powerful woman at Goldman Sachs might be. Below are steps you can take in order to whitelist Observer.com on your browser: Click the AdBlock button on your browser and select Don't run on pages on this domain. People tend to proactively solve for a problem thats not actually there, she argues. Our vision for this is that in the same way that we have developed a really good talent base in places like London and Hong Kong and New York, where people come to Goldman Sachs in order to work in finance and investment banking, I think there will be people who come to Dallas who want to work in fintech and want to do that at Goldman Sachs, said Cohen, who moved to Dallas from New York in August to lead the companys growth. Others say he should have named names. "She does not use politics as a way to advance herself," he said. Her husbands question was one many people ask when it comes to families and work, she says. When she acts on those things "it's cut and dried and clean and timely and usually on point.". And, while it was more usual then to be a lone female voice on a call, that was not always a bad outcome. But she wasn't without detractors. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. At the junior level, you might be immersed in a project where you are working with someone constantly, and then the project ends and everyone moves on. That advice has been crucial to Cohens success throughout her career. When she helps out at their schools, it is when the children are also involved. Goldman Sachs | Management Committee - Stephanie Cohen June 19, 2018. The best way to do this is to have a long-term view. Changing those opinions will be a huge mark of success for Cohen, who fancies herself something of a change agent, and York, a 35-year Goldman lifer less inclined to rock the boat. Thinking that a single mentor will help you to achieve success in all aspects of your career is not practical, she says. She is also on the national board of the nonprofit group Reading Partners, which focuses on literacy in grammar schools, helping underprivileged kids who are behind in reading. As The Post reported at the time, the first 11 speakers that day were men, making it more than five hours until a woman took the stage. Stephanie Cohen, global co-head of consumer and wealth management at Goldman Sachs, speaks during a dedication ceremony of the company's branded terrace at the University of Texas at. ), Read more: Goldman Sachs has named 6 people to lead product development in its consumer and wealth management group a sign of big innovations to come from the growing division. His was a niche business not well understood by bankers until she came along. In August, The Dallas Morning News reported that Goldman is eyeing a new skyscraper project on the edge of downtown Dallas as a location for up to 6,000 workers. Executive coaching, leadership development coaching and career navigation coaching for women looking to develop, advance and lead in top roles. Leading the strategy is a triumvirate of Goldman executives, insiders said. "You try and you fall, but you always pick yourself up. As a lifer at Goldman Sachs, Cohen is quick to point out that even though the firm has been her only full-time employer, she hadnt necessarily intended to stay this long when she joined. personalising content and ads, providing social media features and to A year later, joins Goldmans executive committee as an ex officio member, Becomes co-head of the consumer and wealth management division and a full member of the group management committee, Switches to head platform solutions division, following a significant reshuffle, One of the most powerful executives at Goldman Sachs on how she made her career choices, Stephanie Cohen: zigzag steps to the top on Wall Street, How mothers shape their daughters careers, The first lesson for female financial education?
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