Three Westchester and Fairfield-based female leaders in finance presented their success stories of climbing the corporate ladder at a College of New Rochelle panel discussion Thursday. About 300 entrepreneurs, educators and working professionals attended the Powerful Women in Finance event hosted by Westfair Business Publications, publisher of the Business Journal.
The panelists included Carla Harris of Morgan Stanley, Peyton Patterson of Bankwell Financial Group Inc. and Suni Harford of Citigroup Inc. Each shared stories about leadership development and maintaining a work-life balance.
Harris, an only child, was raised by her grandmother who taught her finance in middle school. Harris’ grandmother, who owned a beer tavern, hired her to be the bookkeeper and manager.
From filing state sales taxes for her grandmother’s business to serving as the vice chairwoman of global wealth management and managing director at Morgan Stanley, Harris said she is constantly learning how to be a leader. She said one important component of growing as a leader is being true to herself in the workplace.
“I was not bringing my authentic self to the table,” Harris said. “When you make a couple mistakes, you retreat, and you don”™t bring your authentic self to the table. But the unique authentic you is your competitive advantage.”
Patterson, who is president and CEO of Bankwell Financial Group, is an only child who was raised by her mother. She said her curiosity and independence were early signs of a leader in the making. Her knack for numbers allowed her to observe trends and analyze data, and she eventually executed the largest banking IPO in American history during her 10 years at NewAlliance Bancshares Inc. in New Haven.
Harford, who had no mentor growing up, said she respected her boss who helped her realize she needed to be more vocal in the workplace. She shared a story about how angry and upset she was when she didn’t receive a promotion she thought she deserved. She said after asking her boss why she didn’t get a raise, her boss said he never knew she wanted a promotion. This was a wake-up call for Harford, who vowed to be more assertive.
Harford, a Dartmouth College Tuck School of Business graduate, now uses her leadership skills to serve as the managing director of Citigroup’s regional head of markets for North America, where she oversees the sales, trading and origination businesses of Citi’s securities and banking franchise in North America.
When it comes to finding a work-life balance, all three women agreed it’s important to spend time with family and have a personal hobby.
With three young kids, Harford said she misses a lot of birthday parties. She said that she often receives “dirty looks” from moms because she shows up to bake sales with bought goods. But she said that doesn’t bother her as long as she spends time with her kids.
Patterson, a George Washington University graduate, said she is proud of her work-life balance. She emphasized “being the CEO of your life” and gave an example of being disciplined about how late she stays at work. She is also passionate about education-related issues, and she is especially interested in mobilizing action around the education gap in Connecticut between children who come from low-income and high-income families.
Harris, a Harvard Business School graduate, echoed the importance of balancing work and life and said in addition to spending time with family, each person should find something he or she can look forward to. She said for her she finds joy in philanthropy and singing Gospel songs.
On the last discussion question, all three agreed the economy has improved drastically since the recession. With companies reporting earnings that are exceeding market predictions, more job training programs and record-low interest rates, Harris said she feels “bullish” about the economy.
Peyton added that the business and consumer confidence is high, which is a good indication of a healthy economy.
Harford was optimistic about the stock market, but she said she’s skeptical about the government’s role in providing small businesses with bank loans. She said it’s nearly impossible for small businesses to get a loan these days.
A business owner attending the panel chimed in and asked where small businesses fit into the picture if bankers aren”™t giving out loans.
Anne Janiak, executive director of Women”™s Enterprise Development Center Inc., a nonprofit microbusiness development organization in White Plains, jumped in and said companies like hers are currently working with the state and federal governments to increase a small business owner’s chances of getting a loan.
