$10 Million Women in Business
Jane Carten (Business Pulse file photo)
Saturna continues to grow under Carten’s leadership By Tara Nelson
O
n January 1, 1988, Jane Carten sat down and wrote a letter to her mother, the late Markell Kaiser, one of the founding co-owners of Saturna Capital Corporation. In it, she advised Mrs. Kaiser that she was looking for a new chief investor and thought her mother would be “a very nice asset” to her company, “Kaiser Co.—Fads And Fashions, a small-but-growing company that imaginarily buys little companies that we notice are on the move.” During Carten’s tenure at the imaginary Kaiser Co., she acquired Esprit, Benneton, and 36 | BUSINESSPULSE.COM
Coca-Cola. Not a bad start for a 13-year-old girl. Today, Carten’s letter, along with hand-designed business cards, is framed in her office overlooking a beautiful courtyard, perfectly-manicured grass, and water fountains in downtown Bellingham—just across the street, coincidentally, from where her grandfather, an eye, nose and throat specialist, opened his medical practice during the 1940s. Carten now serves as the president and CEO of Saturna Capital, a company headquartered in Bellingham with offices in Malaysia, Reno, and Chicago. Here’s another thing to know about Carten: She oversees the day-to-day operations of one of the world’s largest Islamic mutual fund managers. Last year Saturna Capital reported a bit over $42 million in revenue stream, while managing
about $4 billion in assets under management—a common tool for measuring volume of business in a financial services firm. Recently the Institutional Investor News selected Carten as one of the 13 “Rising Stars of Mutual Funds,” an award that distinguishes the foremost, upand-coming mutual fund industry professionals. She serves on the executive board of the Whatcom Business Alliance. And when she’s not volunteering on a host of community associations like the Mount Baker Theatre, or speaking at Western Washington University’s spring commencement ceremony as Young Alumna of the Year, or socializing with Facebook CEO and author Sheryl Sandberg (Lean In) at her home in Los Angeles, Carten is fine-tuning her finance game with books like Warren Buffet’s Invests Like A Girl And Why You Should, Too. Sure, the title might elicit some smirks, but these books are no joke. Just take a look at a few of the stats: Women, on average, are 45 percent more likely to trade less than men do, be less optimistic than their male counterparts, and shun risk more than men. Studies show that women also put more time and effort into researching possible investments. “The world of finance has historically been male-dominated, but it doesn’t have to be,” Carten said. “And I think that’s changing. There are perspectives and skills both men and women bring to financial analysis and to the management of a company. That said, being a woman in Islamic finance presents unique challenges as well.” Being in male-dominated industries is nothing new to Carten. One of four girls in her family, she jokes maybe her parents needed another boy. In her early college years, she had set out to become a pediatrician and had taken chemistry courses. She later switched