Goldman Sachs executives to rally investors in New York | Reuters NY Post Receives Flak for Calling Potential Successor to Goldman Sachs Youve mentioned the fact that soon youre going to be launching a new set of investment options and opportunities. And it kind of reminds you of how important getting on a plane and seeing people in person and experiencing them in their environment really is. Its really complex. Well, I think Im biased, but I think I have the best job at Goldman Sachs. First, Goldman Sachs CEO David Solomon said it. She is one of seven women named on the committee and is 10 years younger than the average man on the team. And then we have another part of that business where we embed our capabilities into the ecosystems of our partners and thats basically what were doing with the Apple card. Prior to assuming her current role, Ms. Cohen was Co-Head of the Consumer and Wealth Management Division. Im Jennifer Tescher, journalist turned financial health champion. Welcome to EMERGE Everywhere. Its not a one size fits all product and solution. Money 20/20 USA 2021 Speaker Oct 24, 2021 And the thing I say all the time is that you cant talk about these things in two different places. In the latest in a rapid career of promotions, Cohen, 43, took over as co-head of consumer and wealth management in January, overseeing consumer bank Marcus, which has racked up $97 billion in deposits. Where does the bank and the Fed go from here? She also spearheaded Launch With GS, the organizations $500 million commitment to invest in diverse-led companies and investment managers, and GS Accelerate, the firms in-house innovation engine. There werent a lot ofinvestment bankers that looked like me. Ms. Cohen, also 32, is an independent marketing consultant in Chicago. Stephanie Hui, Head of Merchant Banking [], Goldman Sachs There are places where theyre ahead and there are places where theyre behind and actually seeing that in a different environment, I think is another really interesting way to listen to what the world may become and to listen to ways that we can do things differently and better. Stephanie Cohen: Here comes Ms. Goldman Sachs - Teller Report A step-by-step guide for HR professionals. And so the main thing Im focused on is people internally and externally. We've detected you are on Internet Explorer. And so, one of the things we certainly talk about is the board initiative, which was that we werent going to take companies public unless they had at least one diverse board member. And so now one of the things, weve tried and a new skill actually inside of Goldman, which is this experimentation. And so we think this idea of really starting with a clean sheet of paper and building financial services that puts the customer at the center, is something that we can do directly through Marcus and we can do through our partners. My Doctor Online | Stephanie Cohen - Kaiser Permanente So, youre just moving into this new role as global co-head of consumer and wealth management and this puts you in charge of the consumer bank and Marcus by Goldman Sachs. Most Powerful Women in Finance: No. 17, Goldman's Stephanie Cohen Stephanie Cohen is Global Co-Head of Consumer and Wealth Management at Goldman Sachs, the only woman to currently lead one of the firm's four revenue divisions. Goldman Names Two Execs to Lead Private Wealth Management My moms a teacher and its just something. Most Powerful Women in Banking: No. 12, Stephanie Cohen, Goldman Sachs Correction: A previous version of this article mistakenly stated that Cohen became a managing partner at Goldman Sachs in 2008. Ive run, as you said, the consumer and wealth management business with my partner, Tucker York. In less than a year, Goldman Sachs has grown its North Texas presence from more than 2,000 employees to nearly 4,000. She is also a member of the Partnership Committee, Global Diversity Committee, Firmwide Enterprise Risk Committee and Firmwide Finance Committee. Its the ultimate man-cave. And its interesting though, because when we think about it and we talk about it and what we focus on every day, the mission is still the same. . Cohen joined Goldman Sachs as an Analyst in 1999, was named Managing Director in 2008 and Partner in 2014. And weve turned that into a lot of different financial products, but the reality is were just trying to solve those problems for consumers. In the latest in a rapid career of. In January 2021, she was appointed global co-head of consumer and wealth management. I think people have gotten to a place, and theres some good and theres some bad here where the phone is kind of really the center of everything that they do and how they interact with so many parts of their lives. She said the senior leadership team understands that diversity and inclusion is a "business imperative'' and that "this needs to be discussed in the same meetings where we talk about revenue or investment strategies. But she is quick to point out that this is no PR ploy on behalf of the bank: "This is not philanthropy. And the question is, how do you do that at scale? Again, in my role as chief strategy officer, the way that we talk about it then, and certainly the way were talking about it now is that inclusion and diversity are absolutely strategic imperatives. Stephanie Cohen - New York, New York, United States - LinkedIn Jennifer Tescher: Cohen is a Goldman Sachs lifer who started at the bank as an analyst back in 1999, spending time in New York and San Francisco. She is also a Global Executive sponsor of the Women's Network. But, if you make the enrollment default and you have to opt out if you dont want to do it, more people end up investing in 401(k).. We want to be the bank on your phone, she says. Thats not something anyone told us to do so we didnt listen in terms of having a conversation, but we watched the way that customers are interacting with our product and were learning from that. Particularly consumers in Marcus, youve talked a lot about the role youre in now is really about people. Log in to our website to save your bookmarks. The San Francisco bank entered into a multiyear partnership with Choice Hotels, which operates brands such as Radisson, Comfort and Econo Lodge. And that means that we need to go from being about a product, to really having solutions and building holistic relationships with our customers and by building that entire product suite and making it something thats simple and transparent, easy for millions of people to access, we think were going to do that. See our career opportunities. The reality is, theres basically two different states where people have some money and they either want to figure out a way to invest it or save it or spend it or they want to do something and they need to figure out how to pay for that. To learn more about the work and research we do, please visit emerge.finhealthnetwork.org. As the banks chief strategy officer, she brought clarity and focus, including a new commitment to diversity and inclusion. Stephanie Hui - Partner - Goldman Sachs | LinkedIn 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. And then how do you take that into your next role? You cant have two different meetings where you talk about market share and growth and margins and then you have another meeting where you talk about diversity. Yeah. And the last thing Ill say on it is I love going to visit our offices outside of the US particularly in places like Asia, because theyre in a different place as it relates to the development of financial services. When I walked into a board room, theyd expect a very tall man, but instead theyd get a relatively shortwoman. In a sign of her rising stature, Cohen was selected to lead the creation of a new unit to service a critical client base for Goldman Sachs the private-equity firms, family offices and other strategic investors who are a force of their own in the deal-making world. Were really excited about our Marcus Invest launch and were really excited internally because it brings together the best of our wealth management business with the best of our consumer business. 01 Mar 2023 02:08:06 Stephanie Cohen: I did a lot of it and a couple of other things that I just think are a little bit of tricks in doing this. STEPHANIE COHEN, GLOBAL HEAD OF PLATFORM SOLUTIONS, 45. I wonder if you could talk a little bit about when you joined as chief strategy officer in that role, what you did to listen and learn about both the parts of the business that you might have been less familiar with, but also the end user, if you will, the consumer. Updated Jan. 17, 2017 9:10 pm ET. In mid-July, the company announced it will promote David Solomon to succeed Lloyd Blankfein as chief executive officer. Chief Strategy Officer, Goldman Sachs Much has been made over the past few months about Stephanie Cohen's age. The business is not yet profitable but is expected to hit revenue of $4 billion by 2024, she said. And so I would be that person that was like, Please just explain this to me from the base level. And when you get to that base level, you actually start to understand not only the products and how theyre all executed, but how it affects an end customer. Cohen said she expected Platform Solutions to break even on a pre-tax basis by 2025 after it lost $3 billion in nearly three years. In so many ways. Stephanie Cohen is global co-head of Consumer and Wealth Management at Goldman Sachs, a member of the firms Management Committee, and global executive sponsor of the Womens Network.
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