LEADERS Magazine January, February, March 2024 Volume 47, Number 1

January, February, March 2024

Volume 47 Number 1

MUNGER

VIOLA

FISH

PERRY

CODINA

CHURCHWELL

GULATI

MILSTEIN

ALARDHI

GOODMAN

QUBEIN

SITOMER

SERAFI

MPOHA

TURLOV

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“The best armor of old age is a well spent life preceding it.”

Charlie Munger LEADERS Magazine is published quarterly and circulated to distinguished leaders of the world. Circulation is strictly limited. To receive LEADERS Magazine, one must be a leader of a nation, an international company, a world religion, an international institute of learning, or an international labor organization; or a chief financial officer, a major investor on behalf of labor or corporate pension funds, a chief information officer or a Nobel laureate. LEADERS Magazine was founded by Henry O. Dormann (1932-2018).

LEADERS Magazine Publisher and Executive Editor: David W. Schner Editor: Darrell J. Brown Advertising Executive: Laurie McClure Ferber Printing: Calev Print Media – Freeport Press

On the Cover Charlie Munger Berkshire Hathaway Vincent Viola Virtu Financial John Fish Suffolk Tina Perry OWN Armando Codina Codina Partners Kevin B. Churchwell, MD Boston Children’s Hospital Dipti Gulati Deloitte & Touche Howard Milstein Mohammed Alardhi Investcorp Carolyn G. Goodman Mayor of Las Vegas Dr. Nido R. Qubein High Point University Harrison Sitomer SL Green Rema Serafi KPMG Dr. Clever Mpoha SAVENDA Group Timur Turlov Freedom Holding Corp.

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Photo Credits: 10 Panthers - ©2023 Getty Images; Cover, 14 Fish - ©2020 Jamey Stillings; 5, 14 Hollywood Hard Rock - © 2015 Miami In Focus, Inc.; 15 - © Tom Arban Photography Inc.; Cover, 16 Codina - ©Sid Hoeltzell Miami; 17 - ©Antonio Tur; Cover 22 - Milstein - ©Peter Hurley Photo; 26 author, Zelenskyy, 29 - ©Lee S. Weisman; 27 - ©2019 Ben Hider; 28 Dowling office ©Donna Alberico Photography; 28 bottom - ©David L.Pokress Cover Alardhi, 30 - ©Michael Weschler Photography; 36 scholars ©Marc Gewertz; 40 Heyen - ©2017, Gittings; Cover Churchwell, 42 - Ethan Bickford; Cover Qubein, 48 - 2016 Ben Hider 50 - Paul ©Boskovich; 58 Darwish - ©Terry Grucber; Cover Turlov, 64 - ©Peter Ou; 80 - ©Chris Lake Photography 92 - ©2022 Tina Boyadjieva 101 - ©David Buchan/Variety/Shutterstoc; Cover Gulati, 102 - ©Amir Jianpanah; 112 - ©2015, Gittings; 116 - ©2014 Pamela Einarsen 117 - ©2007 Montefiore; 119 - ©Evan Joseph Studios; 122 - ©Oliver Rüther; 124 - ©2010 Paul Morris; 134 - ©Brian Schutza; 135 - © Don Hamerman 2013; 138 author - ©Jane Feldman; 138 candid - ©Kenn Duncan; 139 - ©XiangBei; 142-143 buildings - ©NewYorkPresbyterian/Weill Cornell Medical Center & NewYork-Presbyterian/Columbia University Irving Medical Center; 146 - ©Caitlin McNaney; 152-153, Contents - ©Frank Frances Studio; 154 bottom - ©Michelle Farsi/BSE; 162 - ©Rares V.; 167 akamutsu - ©Eric Vitale Photography; 170 aircraft - © STARLUX Airlines Tony Chou; 171 - ©AIRBUS; 172 author - ©Paul Gregory; 172 exterior - ©James Shaw 2015; 172 sign, 173 carousel, 174 - ©Stephen Young; 173 Acqua Bella Bar - ©Michael Terranova; 178 author - ©Studio_M; 179 - ©2022 Mair Photos; 181 pool - ©Durston Saylor; 182 - www.neiljohnburger.com 183 - ©Greg Powers Photography; 185 ©Chris Sanders; 190-191 - ©Quentin Caffier/Agence Carnage; 198-199 - ©Nowism; 200 - ©Jordan Millington Liquorice

LEADERS (ISSN 0163-3635 ) is published quarterly by Leaders Magazine, LLC, a Sandow brand; www.leadersmag.com. Leaders Magazine, LLC, Sandow Media, LLC and their respective affiliates, directors, officers, employees, contributors, writers and editors (collectively, “Publisher”) accept no responsibility for inaccuracies, errors or omissions with information and/or advertisements contained herein. The Publisher has neither investigated nor endorsed the individuals, companies and/or products that advertise within the publication or that are mentioned editorially. Publisher assumes no responsibility for the claims made by the Advertisers or the merits of their respective products or services advertised or promoted in the publication. Publisher neither expressly nor implicitly endorses such Advertiser products, services or claims. Publisher expressly assumes no liability for any damages whatsoever that may be suffered by any purchaser or user for any products or services advertised or mentioned editorially herein and strongly recommends that any purchaser or user investigate such products, services, methods and/or claims made thereto. Opinions expressed in the magazine and/or its advertisements do not necessarily reflect the opinions of the Publisher. Neither the Publisher nor its staff, associates or affiliates are responsible for any errors, omissions or information whatsoever that have been misrepresented to Publisher. The information on products and services as advertised in the publication are shown by Publisher on an “as is” and “as available” basis. Publisher makes no representations or warranties o f any kind, expressed or implied, as to the information, services, contents, trademarks, patents, materials or products included in this magazine. All pictures reproduced in the publication have been accepted by Publisher on the condition that such pictures are reproduced with the knowledge and prior consent of the photographer. As such, Publisher is not responsible for any infringement of any third party’s intellectual property or other rights arising out of any publication. LEADERS® is a registered trademark of Leaders Magazine, LLC. © Leaders Magazine, LLC 2024. All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopy, recording or any information storage and retrieval system, without the written permission of the Publisher.

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VOLUME 47, NUMBER 1

Contents The Platform Movement Bill McDermott, Chairman and Chief Executive Officer, ServiceNow

154

A Noble Calling Michael Dowling, President and Chief Executive Officer, Northwell Health

The Future Of Healthcare Dr. Yan Katsnelson, Founder and Chief Executive Officer, USA Clinics Group

Opening Doors To New Opportunities Mohammed Alardhi, Executive Chairman, Investcorp

Creating A Connected World Sam Darwish, Chairman and Chief Executive Officer, IHS Towers

26

A Conversation With Charlie Munger

8

Defining Leadership Vincent Viola, Founder and Chairman Emeritus, Virtu Financial

10

Building Relationships John Fish, Chairman and Chief Executive Officer, Suffolk

30

Shaping New York City Harrison Sitomer, Chief Investment Officer, SL Green

34

Building A World Where Opportunity Is Universal And Potential Is Limitless Cyndi Court, Chief Executive Officer, TGR Foundation

56

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Improving Children’s Lives Alex Amouyel, President and Chief Executive Officer, Newman’s Own Foundation

60

A Single Fintech Ecosystem Timur Turlov, Founder, Chairman, and Chief Executive Officer, Freedom Holding Corp.

64

Change Equals Opportunity James W. Keyes

36

Doing Well By Doing Good Richard A. Rosenbaum, Executive Chairman; Shari L. Heyen, Senior Vice President, Co-Chair, Global Restructuring & Bankruptcy Practice, and Managing Shareholder of the Houston office; Jaret L. Davis, Senior Vice President and Co-Managing Shareholder of the Miami office; and Barbara A. Jones, Co-Managing Shareholder of the Los Angeles office, and Chair of the interdisciplinary Blockchain & Digital Assets Practice, Greenberg Traurig LLP

14 Leading From The Front Armando Codina, Founder and Executive Chairman, Codina Partners, LLC

16

The Power Of Partnership Howard Milstein

Advancing Child Health Kevin B. Churchwell, MD, President and Chief Executive Officer, Boston Children’s Hospital

72

Service Excellence Dr. Charles J. DiComo, Senior Director, Laboratory Services, WellSpan Health

74

A Disciplined Approach Bob Kalman, Founder and Senior Portfolio Manager, Miramar Capital LLC

78

42

A Collaborative Community Darryl Eaton and Rick Roskin, Co-Heads of North American Touring, Creative Artists Agency (CAA)

Choose To Be Extraordinary Dr. Nido R. Qubein, President, High Point University

48

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The Investor’s Investor John M. Dowd, Chief Executive Officer, Fiduciary Trust International

40

46

22

68

Make Security Possible Brian Murphy, Founder and Chief Executive Officer, ReliaQuest

80

Unifying The World Around Live Music Robert Ellin, Chairman and Chief Executive Officer, LiveOne, Inc.

Zambia’s Gateway To Global Markets Dr. Clever Mpoha, Chief Executive Officer, SAVENDA Group

52

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Listen, Persist, Integrity Kurt J. Long, Co-Founder and Chair, BUNKR

86

VOLUME 47, NUMBER 1

Taking The Work Out Of Play Peter Frintzilas, Chief Executive Officer, TeamSnap

89

Going Where The Big Ships Can’t Janet Bava, Chief Commercial Officer, Windstar Cruises

Elevating Brands In Culture Ed Horne, President, 160over90

92

A Human Approach To Change Brad Deutser

94

The Peninsula Chicago The Peninsula Suite

182

164

Four Seasons Hotel Washington, DC Royal Suite

The Jōji Experience George Ruan, Executive Chef; Xiao Lin, Chef and Partner; Wayne Cheng, Chef and Partner, Jōji

The Colonnade: Contemporary Luxury In Boston’s Back Bay

183 184

Hard Rock Hotel New York The Rock Star Suite

185

Sandals Resorts And Beaches Resorts

186

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Creating Memories A Conversation with the Leadership Team at BSE Global, Parent Company of Barclays Center

166

A Wonder Of Nature And Time Baptiste Loiseau, Cellar Master, LOUIS XIII

The Evolution Of An Icon Mark Ferland, Area General Manager, The Ritz-Carlton, Naples

168

Personalized Service Jenny Piccione, General Manager, The Ritz-Carlton Naples, Tiburón

169

Bringing Luxury Travel To All Passengers Glenn Chai, Chief Executive Officer, STARLUX

170

152

A Family Business Frank Monteleone, Co-Owner, Hotel Monteleone

190 Synchronicity, Inspiration, And Soul Ellie Anest, Co-Founder and Chief Executive Officer, Eleven Eleven Winery

192

Staying Ahead Of The Curve Luis Gonzalez, Chief Executive Officer, Old Elk Distillery

194

172

Sustainable Development And Economic Growth His Excellency Nicolae Ciucă , President of the Senate, Romania

156

Energy Security His Excellency Sebastian-Ioan Burduja, PhD, Minister of Energy, Romania

176

Authentic Jamaican Hospitality Olivia Morrow, Co-Owner and Director of Sales and Marketing U.K., Jamaica Inn

159

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A Regional Tech Hub For Emerging Technologies His Excellency Bogdan-Gruia Ivan, Minister of Research, Innovation and Digitalization, Romania

Creating Experiences Jonathan Knudsen, Chief Executive Officer, Concrete Hospitality Group

162

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A Quality Producer Of Fine Burgundy Wines Thomas Seiter, President, Maison Louis Jadot

Increasing Human Connection Tommy Southworth, President, Southworth

196

The Distinctiveness Of Douro Wines Jorge Rosas, Chief Executive Officer, Ramos Pinto

198

Woodlands Spa And Salon At Nemacolin

180

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PURPOSE

A Conversation With Charlie Munger Charlie Munger was Vice Chairman of Berkshire Hathaway and Warren Buffett’s closest business partner and right-hand man. Munger passed away on November 28, 2023 at the age of 99.

This conversation reflects on thoughts from his book, Poor Charlie’s Almanack, published by Stripe Press EDITORS’ NOTE Charlie Munger was fences with big rewards on the other an American investor, businessman, side. So, we’ve succeeded by making and philanthropist. Munger served the world easy for ourselves, not by as Chairman of Wesco Financial solving hard problems.

Corporation from 1984 through Will you talk a little bit about 2011. He was also Chairman of the your seeming predilection away Daily Journal Corporation, based from investing in high-technology in Los Angeles, and a director of stocks – on your own part and on Costco Wholesale Corporation. the part of Berkshire Hathaway?

Munger was bor n in Omaha, One of the things I’ve found Nebraska. As a teenager he worked at eye-opening and a little surprising Buffett & Son, a grocery store owned is how the difficulties of running Charlie Munger

by Warren Buffett’s grandfather. a low-tech business and those of After enrolling in the University of running a high-tech business aren’t all Michigan, where he studied mathematics, he never that different. They’re all hard. But why should returned to Omaha except to visit. In early 1943, a it be easy to get rich? In a competitive few days after his 19th birthday, he dropped out of world, shouldn’t it be impossible for there college to serve in the U.S. Army Air Corps, where to be an easy way for everybody to get rich? he became Second Lieutenant. He continued his Of course, they’re all hard. The reason we’re studies in meteorology at Caltech in Pasadena, not in high-tech businesses is that we have a California, the town he was to make his home. special lack of aptitude in that area. And yes – a Through the GI Bill, he took a number of advanced low-tech business can be plenty hard. Just try to courses through several universities, and without open a restaurant and make it succeed. an undergraduate degree, he entered Harvard You seem to be suggesting that there’s Law School and graduated magna cum laude special aptitude required in high-tech busiwith a JD in 1948. At Harvard, he was a member nesses – that they’re harder. But aren’t they of the Harvard Legal Aid Bureau. Munger’s book, equally difficult?

Poor Charlie’s Almanack: The Essential Wit and The advantage of low-tech stuff for us is Wisdom of Charles T. Munger, was published in that we think we understand it fairly well. The December 2023. other stuff we don’t, and we’d rather deal with what we understand. Why should we want to How do you incorporate psychology in play a competitive game in a field where we your investment decisions? have no advantage – maybe even a disadvanWhat makes investment hard is that tage – instead of in a field where we have a clear it’s easy to see that some companies have advantage? Each of you will have to figure better businesses than others, but the price of out where your talents lie, and you’ll have to the stock goes up so high that all of a sudden, use your advantages. But if you try to succeed in the question of which stock is the best to buy what you’re worst at, you’re going to have a very gets quite difficult. We’ve never eliminated the lousy career. I can almost guarantee it. To do difficulty of that problem and 98 percent of the otherwise, you’d have to buy a winning lottery time our attitude toward the market is that ticket or get very lucky somewhere else. we’re agnostics. We don’t know. Is GM Why do you have a similar approach to valued properly vis-à-vis Ford? We don’t know. the pharmaceutical industry?

We’re always looking for something where we The American pharmaceutical industry is think we have an insight that gives us a big better than any other pharmaceutical industry statistical advantage – sometimes it comes from in the whole world, but we haven’t invested in psychology, but often it comes from something pharmaceuticals because we’ve got no edge. I else. We only find a few, maybe one or two a don’t know enough about biology, medicine, and year. We have no system for having automatic chemistry to have any edge in guessing which good judgment on all investment decisions that new pharmaceutical attempt is likely to succeed. can be made. Ours is a totally different system. There are other people who have a better We just look for no-brainer decisions. As Buffett understanding of the industry than mine, so why and I say over and over again, we don’t leap in the hell would I play against other people in a seven-foot fences. Instead, we look for one-foot game where they’re much better at it?

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I would argue that in investing and in practical life, in order to succeed, you must do two things. You must have a certain amount of competence. And you have to know what you know and what you don’t know. Warren and I know what we know and what we don’t know – what we’re good at and what we’re not good at. One of the things we’re not good at is guessing which new pharmaceuticals will succeed. If we have to leave a certain kind of investment behind because we lack the capacity to deal with it, that’s fine. We don’t need an infinite number of opportunities.

Warren Buffett has said that the investment Berkshire made in an airline was a good example of what not to do. What role do mistakes like this play in investing and in life?

While there is no way of learning or behaving so you won’t make a lot of mistakes, you can learn to make fewer mistakes than other people – and how to fix your mistakes faster when you do make them. But there’s no way that you can live an adequate life without making many mistakes. Part of what you must learn is how to handle mistakes and understand new facts that change the odds. Life, in

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VOLUME 47, NUMBER 1

“I would argue that in investing and in practical life, in order to succeed, you must do two things. You must have a certain amount of competence. And you have to know what you know and what you don’t know. Warren and I know what we know and what we don’t know – what we’re good at and what we’re not good at.” part, is like a poker game, wherein you have to learn to quit sometimes when holding a muchloved hand.

You talk about the dangers of an extreme ideology. What responsibility, if any, do you think the business and legal communities have for helping inner-city areas through spreading the wealth and so on?

I’m all for fixing social problems. I’m all for being generous to the less fortunate. I’m all for doing things where, based on a slight preponderance of the evidence, you guess that it’s likely to do more good than harm. What I’m against is being very confident and feeling that you know, for sure, that your particular intervention will do more good than harm, given that you’re dealing with highly complex systems wherein everything is interacting with everything else.

In Poor Charlie’s Almanack, you advocate for a multidisciplinary approach to business. You even draw on biology and the stability of ecosystems, looking at ways entities can prosper within ecosystems and how they can perish. How has that informed your approach to business, and how can it help a business endure?

My idea is simple: If you make your living selling things to other people that are good for them, that is safer and more profitable than selling them stuff that’s bad for them – like gambling, drugs, crazy religions, all kinds of things that are terrible for people. It’s amazing the people who don’t pay any attention to that rule. I think of the sleazy products that investment banking is probably willing to sell and the sleazy stuff that compensation consultants are perfectly willing to sell, and I decided I wasn’t going to do any of that. I was going to sell the kind of stuff that I would buy on the other side.

I also wanted to work with the kind of people I admired. When I was in law practice, I sometimes worked for people who in some ways I did not admire. I’ve mostly been able to avoid that, but I couldn’t get it 100 percent out of my life, though I came pretty close.

That’s a very important thing to learn.

You need to search out reliable people you can trust and be the kind of person everybody else feels they can trust. It’s a huge advantage. If you start doing that young, keep doing it consistently through life. It isn’t very hard.

Stay awake in high school, deal with the good people instead of the bad people, and sell VOLUME 47, NUMBER 1

what you would buy and not just what you can sell by misleading people. These are very simple ideas, but it’s absolutely amazing how well they work for people who relentlessly follow these simple ideas.

We talk a lot about trade-offs between the quality of our life and our professional commitments. Is there time for a professional life, learning about these models, and doing whatever else interests you?

I’ve always taken a fair amount of time to do what I really wanted to do, some of which was merely to fish or play bridge or play golf.

Each of us must figure out his or her own lifestyle. You may want to work 70 hours a week for 10 years to make partner at Cravath and thereby obtain the obligation to do more of the same. Or you may say, “I’m not willing to pay that price.” Either way, it’s a totally personal decision that you have to make by your own lights. But whatever you decide, I think it’s a huge mistake not to absorb elementary worldly wisdom if you’re capable of doing it because it makes you better able to serve others, it makes you better able to serve yourself, and it makes life more fun. So, if you have an aptitude for doing it, I think you’d be crazy not to. Your life will be enriched – not only financially, but in a host of other ways – if you do.

There’s a lot of simple stuff that many of you are quite capable of learning. Your lives will work way better, too, if you do. Plus, learning it is a lot of fun. So, I urge you to learn.

What is something that you’re passionate about?

I’m passionate about wisdom. I’m passionate about accuracy and some kinds of curiosity. Perhaps I have some streak of generosity in my nature and a desire to serve values that transcend my brief life. But maybe I’m just here to show off. Who knows?

I believe in the discipline of mastering the best that other people have ever figured out. I don’t believe in just sitting down and trying to dream it all up yourself. Nobody’s that smart.

Compared to the beginning of your career, has investing gotten harder?

Of course, it’s gotten harder. In a way, much harder. It’s gotten so hard that most of the people who are in wealth management have almost zero chance of outperforming an unmanaged index like the S&P. There’s so much more of this wealth now invested in securities. So, you’ll get a whole lot

of big sums to manage, and of course it takes a long time to buy and costs are higher. And it’s way harder to manage a large sum of money than it is to manage a small sum of money.

On top of that, way more brains came into the business. So, it’s gotten brutally competitive.

Now, we have these manias where things are hot and start running, and the behavior gets crazy. It’s almost like a delusion. So, of course, it’s harder.

In my lifetime, a guy who just bought the best common stocks and sat on his ass would have made about 10 percent per round before inflation, maybe 8 percent after inflation. That is not the standard return that someone can expect from an investment. That was a very unusual period of time in a very unusual place. I do not anticipate that the average result is going to be nearly that good over the next hundred years.

How do you feel about American society over the coming decades?

Old men have always tended to think that the new generation is going to hell. That goes back to the earliest civilizations. But I do not like the way politics has morphed in my lifetime in the United States. I don’t like the way democracy has morphed into existence with these primaries and the dominance of two parties, where only the most extreme members of each party have a lot of pulling power.

I think today’s young people are going to find it a lot harder to get what more or less automatically came to my generation at modest cost. We obtained houses, got into good school districts, and had a growing, pleasant civilization. It was pretty widely available. Now, in the big cities, it’s going be very hard to get a new house, which is sad. But it’s sad to get old and die, too.

It’s not automatic that everything in your life will be better than it was for your parents or your grandparents. It’s perfectly possible for a world to become a little worse, in some ways.

We’re staring into a recession and potential stagflation. What advice do you have for people thinking about how to work their way through it?

I have one standard set of advice for all difficulties: Suck it in and cope. That’s all any human being can do, is suck it in and cope. And partly you have to be shrewd. That’s one way of coping, to be as shrewd as you can possibly be. But that’s my recipe. I must say, it’s worked pretty well for me, and it’ll work pretty well for any other person who uses my methods.

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PURPOSE

Defining Leadership An Interview with Vincent Viola, Founder and Chairman Emeritus, Virtu Financial EDITORS’ NOTE Vincent Viola is What led you to create the Virtu Financial’s Founder and has Combating Terrorism Center at West served as its Executive Chairman Point? since November 2013. He previously The Combatting Terrorism Center served as Chief Executive Officer and is a direct result of my experience on Chairman of Virtu Financial and its September 11, 2001, from watching the predecessors since April 2008. Viola is towers collapsing from the ferry station one of the nation’s foremost leaders in across the Hudson River in New Jersey electronic trading. He was the founder to my work as NYMEX Chairman in of Virtu East in 2008, a founder of the immediate aftermath of the attacks, Madison Tyler Holdings in 2002, and working with Exchange leadership to the former Chairman of the NYMEX. reopen the markets. I had two realizaVincent Viola Viola started his career in the finantions over those first days, and both cial services industry on the floor of came about through prayer. One was the NYMEX and became Vice Chairman from 1993 that our way of life, and the values that our nation to 1996 and Chairman from 2001 to 2004. Viola was founded on, were actually being attacked, graduated from the U.S. Military Academy at West and I concluded that terrorism was now systemic, Point in 1977. He later graduated from the U.S. and probably a principal stratagem in the geopoArmy Airborne, Infantry and Ranger Schools and litical context of great power competition. Subseserved in the 101st Airborne Division. In 1983, he quently, I concluded that the Academy should be graduated from New York Law School. one of the intellectual crucibles from which the combating of this set of tactics and strategies should FIRM BRIEF A global leader in market making and be developed. execution services, Virtu Financial (virtu.com) is a The core principle upon which the Center leading financial firm that leverages cutting-edge was founded was the idea that we had to technology to deliver liquidity to the global markets encourage true intellectual humility so that our and innovative, transparent trading solutions to its clients.

Did you always know that you had an entrepreneurial spirit and desire to build your own company?

I have never truly considered myself an entrepreneur, as much as a self-employed person who is responsible to the people that I have asked to join me in realizing a specific vision.

I have always enjoyed taking responsibility for bringing my ideas, and my perceived outcomes, to fruition. I have my notions on how systems could best work, or how organizations might best function. I was very lucky because I entered a somewhat unique time, place, and market structure of Wall Street that was on the cusp of real evolution, particularly once financial futures, and foreign exchange futures, and the financialization of oil were about to become products, a financial asset class, which occurred as I was coming into my own on Wall Street as an independent trader. So, from the first day on the floor of the New York Mercantile Exchange, I was responsible to only one person in terms of profit and loss, and this was a feature in our particular strain of Wall Street culture that suited my personality and my capabilities.

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defenders could examine and understand these irrational and random actors in the context of their own perspective, and frankly with empathy. We needed to understand the threat holistically. So, the Center was founded as an academic entity where rigorous, and non-political discourse could occur, and research could be undertaken to help support the military units that were going to be engaged in, what I thought, was going to be a long war that involved military engagement. And of course, I felt that the academic study that we envisioned doing so much to inform the “tip of the spear” should be located at the U.S. Military Academy because it was clear to me that the young men and women attending at the time, and those who would attend for many years to come, were going to have to deal with this threat as a significant part of their professional soldierly development.

Will you highlight the work of the Center today?

The Center continues to serve, first and foremost, as an academic resource for the cadets. The Academy, with great foresight, created a minor in the study of terrorism. The primary function and mission has always been to prepare the cadets academically and intellectually and create and

Matthew Tkachuk of the Florida Panthers scores a first period goal against the Carolina Hurricanes in Game Four of the Eastern Conference Finals of the 2023 Stanley Cup Playoffs at Amerant Bank Arena on May 24, 2023 in Sunrise, Florida

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VOLUME 47, NUMBER 1

“When you have people who love you and support you, and you can share a hearty, simple meal around a kitchen table at the end of the day, you’re blessed.”

develop within them the skill of critical and empathetic thinking around these problems. Today, it does so through its research, its system of fellowships, and full-time tenured faculty members. A primary product is the Sentinel, the CTC’s publication that is a highly regarded resource for the discussion, exchange of ideas, and objective research into terrorism and its contemporary manifestations.

What interested you in owning a professional hockey team, the Florida Panthers?

From my earliest years, I had a deep love of playing roller hockey on the street as a young man. As a sports fan and a New York fan, some of my best memories were from the age of 11, taking the subway to go see the Rangers play at the Garden. I was blessed to see the Rangers play in the old Garden and the new Garden. I have always loved hockey, and sports as a business has always intrigued me, so when the opportunity to own an NHL team was presented to me, I was honored and excited. I learned a great deal about the business of sports from the Ratner family during the years I had the opportunity to be their partner in the thenNew Jersey Nets of the NBA, and to be a part of their vision for bringing the team to Brooklyn, the borough I grew up in.

Why the Florida Panthers?

Our family has always seen South Florida as a second home in many ways. My wife, Teresa, spent her childhood summers with her grandfather who was a resident in South Florida.

Her parents and my parents were all snowbirds down here at different times. We brought our boys down here every winter to see their grandparents as they were growing up, and so we had always envisioned retiring to South Florida.

As I was beginning to plan for the succession to the next generation of leadership at Virtu, quite frankly I got really lucky that the Panthers were seeking new ownership and we were able to answer the call.

Where did you develop your passion for horse racing?

My passion for horse racing was a direct result of the fact that my father was my best friend in my life, and he had an infectious passion for the sport. Every single day he would read the newspaper that best covered the sport of horse racing – I believe it was called the Daily Telegraph – and he would handicap every VOLUME 47, NUMBER 1

day. Every chance he got, he would go to the racetrack, so as soon as I was old enough for him to take me, I went with him.

Every time I enter a racetrack, or look at one of the horses I’m so blessed to be the owner or part-owner of, I feel like I’m with my father. He was my best friend. Every race I watch, I can feel my father’s spirit inside of me.

What do you see as the keys to effective leadership?

Well, whatever leadership ability I have or do not have was developed in the military, at the United States Military Academy. I could reduce it to specific lessons and experiences, but if I had to describe leadership generally, I think there are three or four features that most good leaders demonstrate.

In no order of priority, the most successful leaders I’ve observed are first, humble. Humility is a significant factor. Second, they are committed to being servants of those whom they’re responsible for, and they’re dedicated to making sure that the people they are leading fulfill their maximum potential.

I think decisiveness is incredibly important. I think kindness is a critical feature of a real leader, and I think the driver, the basis of all of it, is a dedication to simple integrity. Organizations that develop a standard of simple integrity and truly open communication are usually a reflection of a good leader.

How did your time at West Point impact your management style?

My time at West Point has completely defined my management style. I can reduce it to two or three dictums that were taught or modeled from the first day as a cadet. They are: You never ask a soldier to do something you wouldn’t do yourself. You have to be the last person to eat in your unit. You have to be the person to make critical decisions, but you have to sincerely listen to your surrogates. You have to have respect for each of your soldiers as individuals. You must conduct your military leadership through unyielding empathy. And communication usually breeds a collective discipline that, once achieved, will build excellence and dedication to purpose.

I think those are some of the lessons I tried to incorporate into my management style. But essentially, everything was built on the honor code, really, which is: you will not lie, cheat, or steal, nor tolerate anyone who does. And you have to treat your soldiers as a servant would treat a master because, at the end of the day, your unit’s success is going to be defined by the weakest link in your chain. That’s what has to hold.

I think the other part of my management style, which I’ve tried to incorporate from a military education, is forward planning with a lot of room for adaptability. The military profession is based on the paradoxical nature of war, so we essentially strategize based on the conditions that we perceive that we’re going to have to deal with in a conflict. Then we set tasks, which have to be measured against a standard of excellence that’s projected, and which results in victory. But of course, war is paradoxical. We can train based on a set of assumptions, but throughout history, we’ve learned that once actual conflicts begin, conditions are random, and the application of force is nonlinear. The leader has to be enormously creative and proactive, not reactive. I think the Academy did a great job of explaining this to us. You have to have trust that goes both ways.

I think I was blessed to attend the Academy and privileged to attend right at the end of the Vietnam War, which was a conflict that in many ways still influences our nation and its spirit to the extent that we’ve learned lessons

“I have always loved hockey, and sports as a business has always intrigued me, so when the opportunity to own an NHL team was presented to me, I was honored and excited.”

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around strategy – military strategy, national strategy – from the right decisions and wrong decisions made during the Vietnam War. Almost all of my professors had very recently served in combat, so these were visceral and real experiential lessons that they were sharing with us – leading people in combat situations, relying on one another alone in the theater of war. I believe that there is a physical dimension to management, and I think it is very important that we have humanto-human contact – working within the physical presence of each other is extremely important.

But I don’t know if that holds true anymore. So my management style really began with understanding and learning “followship” before leadership.

Who are some of the people that have influenced your career?

I’ve always described my career on Wall Street as a direct product of the kindness of others. Other people who had no need to take a unique interest in me did. My career was greatly influenced by Donnie Vassallo, a lifelong friend who brought me to the New York Mercantile Exchange for the first time and really convinced me that I could succeed there. There was a gentleman who owned the clearing house named Gil Meyerfeld who became a role model and mentor to me. Another largerthan-life gentleman, Herbie Weinberger, about 6’3, shocking red hair, combat infantryman badge in Patton’s army, who took me under his wing and cleared me. Gentlemen like Leo Malamed and Jack Sandner from the Chicago Mercantile Exchange. And then later in my career, friends like Dick Grasso and Ken Langone. There are really too many to mention because I am sure I’ll leave out people who’ve impacted me greatly. I’ve been helped by so many people along the way. In the military, I had so many classmates who were my loadstar of what it meant to be good soldiers. I had the privilege of serving under retired Lieutenant General Joseph Kinzer, who really influenced my understanding of duty, and in my later life, General Wayne Downing and General John

Vincent Viola speaking at Baptist Health IcePlex as part of a long-standing partnership between the Panthers and Baptist Health South Florida

Abizaid have been my anchors in my attempt to continue in service to the military.

What advice do you offer to young people beginning their careers?

I think the most important thing for young people is to be fearless in the pursuit of discovering what it is they can be passionate about.

This doesn’t simply mean pursuing the things you’re interested in – it means figuring out how to become passionate about the things you are pursuing. Sometimes finding the beauty in a task transforms it for us. That’s first and foremost. The second piece of advice I’d give them is to constantly develop your willingness to serve others. Share information, enhance ideas, and collaborate. Collaboration is just so important to a young person starting out – test your ideas with as many people as you can. And you must be willing to develop a relentless work

“I think the most important thing for young people is to be fearless in the pursuit of discovering what it is they can be passionate about.

This doesn’t simply mean pursuing the things you’re interested in – it means figuring out how to become passionate about the things you are pursuing.”

ethic. It’s a cliché, but true to say work doesn’t feel like work when you’re pursuing something that you love, something that you are passionate about. That something doesn’t have to be a particular field – it can be as specific as a particular outcome, but if you’re passionate about it, it won’t feel like work – it feels like it’s organic to who you are. I think the number one symptom of a flawed pursuit is a young person who’s carrying unexplainable stress within them. By this, I mean negative, debilitating stress as opposed to positive stress that propels you – inspirational stress.

I always told my sons, that whatever business they wanted to pursue, they needed to learn from the ground up and know how to fill every role in the business. If you want to open a restaurant, start by learning to wash the dishes, because you have to know your operation at every step of the way to understand its real health.

With everything that you’ve accomplished in your career, are you able to enjoy the process and take moments to celebrate the wins?

I suppose I don’t think of life in terms of winning and losing. I love my life. I’ve always loved my life. I’ve had a blessed life. Successes and failures are both just outcomes of your best effort to serve – neither defines you and you can squander success as quickly as you can put failure behind you. I know how blessed I am and how much I enjoy the everyday and I feel the same way about life at this point in my career as I did as a young boy in Brooklyn.

When you have people who love you and support you, and you can share a hearty, simple meal around a kitchen table at the end of the day, you’re blessed. So, know that and go out and take risks because what is a failure when you can come home to family and food?

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www.alliance.us Michael Rodriguez CEO & President Alliance Building Services

PURPOSE

Building Relationships An Interview with John Fish, Chairman and Chief Executive Officer, Suffolk EDITORS’ NOTE John Fish is the value of building strong relationships.

Chairman, CEO and sole proprietor I understood if I wanted to grow the of Suffolk. Fish sits on numerous business for long-term success, I had boards focused on improving the to commit to building and strengtheconomy, strengthening business ening relationships with people in the and creating jobs. He is Chair of the industry and our communities. People Board of Directors at the Real Estate needed to believe in me and trust in Roundtable and serves on the Execthe unique culture we were creating utive Committee of the Real Estate for our organization. Not surprisingly, Board of New York. Fish is currently the more effective I became at building Chair of Brigham and Women’s relationships, the more growth the Hospital and sits on Mass General company experienced and the more John Fish Brigham’s Executive Committee. authentic our organization became to He also serves as Chairman of the our clients, partners, and even our own Board at Boston College, the first non-alumnus employees. to ever fulfill that role. Fish earned a bachelor’s We started to see immediate results from degree in political science and government from our commitment to building relationships. Our Bowdoin College and has received honorary number of repeat clients grew and we started degrees from Curry College, Regis College, and to manage projects for those clients throughout Wentworth Institute of Technology. the country. We followed existing clients to New York, Florida, Texas, California, and the COMPANY BRIEF Suffolk (suffolk.com) is a Midwest, which allowed us to expand our businational enterprise that invests, innovates, and ness. The strength of our relationships and deep builds. Suffolk is an end-to-end business that adds trust we were building with clients and partners value throughout the entire building life cycle were creating growth opportunities for us and by providing core construction management helping us build our brand nationally. services along with additional vertical services that include real estate capital investment, design, self-perform construction services, technology start-up investment and innovation research/ development. Suffolk, referred to as “America’s contractor,” has $5.5 billion in annual revenue, 2,600 employees and main offices in Boston (headquarters), New York, Miami, West Palm Beach, Tampa, Estero, Dallas, Los Angeles, San Francisco, and San Diego. Suffolk serves clients in every major industry sector, including life sciences, healthcare, K-12 and higher education, gaming, resorts, mission critical/data centers, transportation, airports and commercial. Suffolk is ranked #23 on the Engineering News Record list of “Top 400 Contractors.”

What have been the keys to Suffolk’s strength and leadership?

Suffolk is a reflection of my growth and maturity as an individual. When I first started the company right out of college, I didn’t know how to run a business or even manage a balance sheet. That immaturity was reflected in the way I managed the business – our culture and approach to managing projects and partners was all about “brawn over brains.” As I matured as a professional, I began to realize the 14 LEADERS

How important is cultural fit when attracting talent for Suffolk?

I often tell people Suffolk has a cultlike culture. Our culture is based on our core values of passion, integrity, hard work, professionalism, and caring. We did not define these core values as part of a concerted campaign or marketing strategy. We “discovered” our core values – they were always part of our DNA. Our core values are the lens we use when evaluating and recruiting talent for our organization.

To be honest, not everyone is the right fit for our unique corporate culture. But if you share our core values and are aligned with our goals and mission as an organization, you can build an enormously successful, long-term career at Suffolk.

Our core values are who we are and what we aspire to be. My role is to be the keeper of those values and I take that responsibility very seriously. Suffolk builds buildings, but we also build people. And to build people, we understand we need to create a great place for those people to work. This focus on culture is one of the factors that truly differentiates us from other companies.

Suffolk clients Seminole Hard Rock Hotel & Casino Hollywood in South Florida (above) and Boston University Center for Computing & Data Sciences (opposite page)

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Was it challenging for you to have to give up some control as Suffolk has grown its size and geographic footprint?

This is one of the greatest challenges for founders, entrepreneurs, and leaders of any organization. I often say we are playing a game of inches, not a game of yards. It is critical for leaders to provide the vision for the organization at a high level, but to also have a pulse and understanding of what is happening throughout every level of the organization. It’s all about alignment. Leaders must ensure all their people, regardless of title or role, are shown respect, appreciation, support, and recognition for their work and their contributions to the organization. It is about the success of the team, not the individual.

How do you define the Suffolk difference?

Suffolk’s value proposition is defined by our people and unique toolbox of sophisticated technologies and processes. Construction is a people business. We make emotional connections with our clients and partners every day, but we also have an emotional connection with our own people through trust and transparency.

I tell our people to bring their problems to work rather than leaving them at home. Everybody is dealing with their own challenges, so we need to make sure our people are working in an environment where they can bring their best selves to work with confidence and trust in their leaders and colleagues. A critical role of our organization is to provide support and peace of mind for our people, because in the end that approach helps them be the best they can be.

Again, this comes down to culture. There are three fundamental characteristics that create a positive work environment for our people: 1. No Fault Culture, which is about having empathy and compassion when a person makes a mistake; 2. No Jerk Policy, which means every one of us must care for each other and get along; and VOLUME 47, NUMBER 1

3. Caring, because if you lead with a sense of caring and authenticity, it makes all the difference to your team and the entire organization.

Throughout my entire career in the construction industry, I have found the most successful building construction projects are the ones that have had project teams with strong chemistry and a deep caring for one another.

Most people do not think of innovation when they think of construction.

How is Suffolk planning to change that perception and what is Suffolk’s strategy for disrupting the industry?

I often say, “No two points in time are equal.” Construction has never been known for innovation. Today, the construction industry is facing a pivotal moment as productivity has declined, construction and labor costs are high, and development in certain sectors has slowed due to high interest rates and lack of available capital. To address these challenges, Suffolk leverages our core construction management expertise while also providing vertical services that add value throughout the entire lifecycle of a building.

Suffolk Capital is our real estate investment arm that invests side-by-side with developers, which positions us as a key investment stakeholder with “skin in the game” on projects and allows for more alignment between our team and our clients.

Our Suffolk Design team of experienced designers collaborates earlier with project architects in the design process to “fill gaps” in the design documents to ensure accuracy and completeness before construction begins, saving time and money during the construction process.

Our Liberty self-perform team provides construction services on our project sites, such as drywall, concrete, and heavy equipment so we can have more control of safety and quality on our jobsites.

And Suffolk Technologies, the technology capital investment arm of Suffolk, invests in tech startups and solutions that are transforming the built environment, and allows these startups to test their tools on Suffolk jobsites so they can make improvements to their solutions. By providing value throughout the entire building lifecycle and leveraging the power of technology and data, Suffolk is differentiating itself from other contractors and redefining what it means to be a builder.

How important is it for Suffolk to build a diverse and inclusive workforce?

Diversity, equity, and inclusion are fundamental to an organization’s success.

Hiring a diverse workforce is the right thing to do, but it is also very good for business.

Better business decisions are made when you have individuals with various backgrounds and points of view sitting around the table and sharing their opinions and ideas. A diverse workforce provides diversity of thought.

Regardless of who you are or where you are from, your unique perspective is a valuable asset. We must have respect for these various points of view, maintain a sense of humility, and understand that we may not have all the answers ourselves. This is one of the most critical elements of strong leadership.

Where did you develop your passion for giving back to the community?

Suffolk has always been committed to giving back and being part of the fabric of the community. I often say, “To whom much is given, much is expected.” I believe we have a duty to give back to others who are less fortunate, because in the end we are all in this together.

No one succeeds without help, and we have all had our own personal and professional challenges to overcome. For example, I have severe dyslexia and could not spell or write for most of my childhood. This was a significant challenge for me because this learning difference wasn’t identified until I was a young man. My lear ning difference had a huge impact on me. I was not confident in myself or my abilities, which led to a sense of humility at a very young age. During prep school, I received lots of support from teachers and coaches who helped me build my confidence and realize my true strengths. I finally started to realize I had something special and unique to offer.

I eventually developed my leadership skills and realized I had strengths others might not have, including understanding people, reading a room, communicating a vision, and motivating others to perform at their best. But even with that success, I never forget where I came from and I have always pulled for the underdogs.

This is why I have always been committed to causes that help young people at a disadvantage who simply need someone to believe in them, because I have been there myself. Sometimes all it takes to set someone on the path to success is some confidence, caring, and compassion.

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PURPOSE

Leading From The Front An Interview with Armando Codina, Founder and Executive Chairman, Codina Partners, LLC EDITORS’ NOTE Armando Codina is Founder and Executive Chairman of Codina Partners. Previously, Codina served as Chair man of Flagler, a full-service commercial r eal estate fir m headquarter ed in Coral Gables, Florida. Prior to that, he served as Chairman and CEO of Codina Group, a South Florida-based commercial r eal estate firm, which he founded in 1979. Under his leadership, the Armando Codina firm grew to be Florida’s largest privately held commercial r eal estate company. In 2006, Codina merged his firm with Flagler Development Group, part of Florida East Coast Industries, Inc. In July 2007, FECI was sold to a private equity firm.

In addition to serving as CEO and Chairman of his core real estate holdings, Codina is an active investor and owner of MBB Auto Group, a premium luxury retail automotive group consisting of 15 dealerships in the Northeast that include Mercedes-Benz, BMW, Land Rover, Jaguar, Audi, and Toyota. He is also chairman of Kingfisher Land-Secured Bond Fund, L.P. Codina served as the Lead Director of the board of BellSouth; on the board of directors of American Airlines parent company, AMR Corporation, where he served in the capacity of Lead Director until December 2013; and on the board of General Motors. He recently served on the board of The Home Depot. In addition, Codina has served several professional, civic, and educational organizations, including as a Board of Trustees member of the Urban Institute, and as Chair of the Town Square Neighborhood Development Corporation. He is a Chairman Emeritus of Florida International University, Co-Founder of the Community Partnership for the Homeless, and is a member of the Florida Council of 100, among others. Codina has received numerous accolades and recognitions over the years, including induction into the NSU Huizenga College Entrepreneur and Business Hall of Fame, and was honored with the renowned Humanitarian of the Year Award in 2022 by the American Jewish Committee.

FIRM BRIEF Codina Partners (codina.com) is a distinguished real estate development, management and investment firm that combines transpar ency and authenticity to provide hospitable, polished service to every client, partner, 16 LEADERS

and stakeholder it serves. Led by an experienced, visionary leadership team, Codina Partners has distinguished itself from other developers and managers by recognizing overlooked opportunities, leaving every community better than they found it, delivering elevated service, and producing high-quality work resulting in successful outcomes.

Codina Partners’ development and management portfolio includes notable projects such as Downtown Doral, 2020 Salzedo, Beacon Logistics Park, and Regency Parc.

What was your vision for creating Codina Partners and how do you define its mission?

I’ve been starting companies since the 1970s. I started Codina Group in 1980, which merged with Florida East Coast Industries (FECI) back in 2006. When we sold to a private equity firm in 2007, right before the start of the Financial Crisis, I purchased a number of properties – one of which was the Koger Center in Doral. At the time, my daughter, Ana, was finishing business school at the Sloan School of Business at MIT. She and I then started Codina Partners to create a family legacy. Downtown Doral was our largest project, but our portfolio has expanded

A rendering of Regency Parc – Codina Partners’ ultra-luxury residential rental tower being constructed in Coral Gables, Florida

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Downtown Doral – Codina Partners’ 250-acre mixed-use project in Doral, Florida

to include industrial – which I was most accustomed to developing at Codina Group – multi-family and more. Our goal has always been to have meaningful and constructive impacts on the communities we serve, and we continue to do just that.

How do you describe Codina Partners’ culture and values?

I do what my mother always taught me – wherever it is that you go, just remember to leave it better than you found it – and that goes for people as much as places. At the company that my daughter and I founded, that is the very statement that defines our culture and values.

Our mission is to “leave communities better than we found them,” and we deliver on that central promise every day in every community we’re fortunate enough to be part of. You can see that in Downtown Doral. We are committed to developing the area in such a way that it strengthens the community, even if there is very little return.

Our culture and values are not just internal to our company. Living them also means that we treat our partners and associates with the same level of respect. We have a fiduciary responsibility to our partners. They are entrusting us with their investment, and we are committed to making sure that we deliver for them on every venture.

When your cultural values show to those outside of your organization, that is when you know you have a strong culture.

What have been the keys to Codina Partners’ growth and leadership, and how do you define the Codina Partners difference?

We were never concerned about the pace of our growth as much as the quality of our growth.

We prioritize what is right, and the right way is not always the quickest way. I’m proud of what we have accomplished, because when people see the Codina Partners brand, they know it stands for something. It means that the very best professionals, and the very best intentions and

“Our culture and values are not just internal to our company. Living them also means that we treat our partners and associates with the same level of respect. We have a fiduciary responsibility to our partners. They are entrusting us with their investment, and we are committed to making sure that we deliver for them on every venture. When your cultural values show to those outside of your organization, that is when you know you have a strong culture.”

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“Real estate has always had a special place in my heart.

I love to build things, whether it’s state-of-the-art multifamily buildings or companies and businesses.”

ideas, went into that project. We’ve also been committed to South Florida. We’ve never had a yearning to reshape communities beyond the one that has always been home.

Will you provide an overview of Codina Partners’ portfolio and current projects?

We have a number of projects that span every facet of real estate, and our geographic focus has always been South Florida. The one we are most proud of is Downtown Doral, which is a 250-acre mixed-use development in the heart of Doral. We got involved in Doral at the very beginning, and long before it incorporated I knew the area’s potential. The city needed a heart – a real downtown that would make it an

epicenter for cultivating culture, commerce, and community – and we did just that. There are still portions of Downtown Doral in development, but it only continues growing and getting better.

We also have Beacon Logistics Park in the northwestern part of Miami-Dade County. It is one of the most state-of-the-art logistics parks in the city of Hialeah, and has really transformed that corner of the county into a world-class hub for fueling commerce in South Florida.

We have just broken ground on a classdefining building, Regency Parc in Coral Gables. It will be an ultra-luxury residential rental tower that will offer Park Avenue-like class and sophistication, very large residences,

and an incomparable array of amenities. Lastly, we recently purchased the former Sears site at Westland Mall in Hialeah. We are working with the mall owner, Centennial, on something that is going to be transformational for the community, but we are still in the early planning stages.

I’ve also been a long-time friend and business partner of Jim Carr. Together we started CC Homes, which is one of the most reputable developers of new residential communities in South Florida. We take great pride in having helped thousands of families find their place in South Florida, and not just any place, a good, well-designed, and wellbuilt home. Of course, all the credit for CC Homes’ success goes to Jim.

Beacon Logistics Park – Codina Partners’ state-of-the-art logistics park in Hialeah, Florida 18 LEADERS

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“Everything that I have I owe to this country, and all I ever want to do is to honor what it has given me and my family – a safe haven, principles, and the freedom to become anything. I did that through my businesses, and by working relentlessly to always do or build what was right for the community, no matter the cost.”

Did you always know that you had an entrepreneurial spirit and desire to build your own company?

Since a young age, I always knew I wanted to start and run my own business. I have so much energy, enthusiasm, and drive that the structure and limitations found throughout the corporate world would have never been a good fit for me. Real estate has always had a special place in my heart. I love to build things, whether it’s state-of-the-art multi-family buildings or companies and businesses.

What do you think contributed most to your success?

The main ingredient to my success was the good fortune I had with Cuba being just 90 miles away from this country. You can do anything in this country that you set your mind to - you just have to set your intention and go after what you want. So, hard work, determination, and this country have been the keys to my success.

Everything that I have I owe to this country, and all I ever want to do is to honor what it has given me and my family – a safe haven, principles, and the freedom to become anything. I did that through my businesses, and by working relentlessly to always do or build what was right for the community, no matter the cost.

What do you feel are the keys to effective leadership and how do you describe your management style?

Always treat people with respect. When you encounter people who have less means, either in life or within their career, you need to exercise more care, not less, in how you treat them. I always say, “lead from the front, and by example.” People need someone and something to follow, but they can’t do that if they don’t have someone to be a role model.

So, don’t just say what should be done; do what should be done.

How special has it been to have the opportunity to work with your daughter and to see her leadership in the company and in the industry?

It has been one of the greatest gifts of my life. Not all parents get to pass the mantel to their children, but Ana has approached the business with so much care and enthusiasm for delivering on our core mission, there’s no better person or professional for me to run this company alongside. I do not have a college education, but Ana was fortunate enough to have the opportunity to pursue one. She has an MBA from MIT, so she can run this business better than I can.

What advice do you offer to young people beginning their careers?

There are two major issues that young people face today. The first is entitlement – believing you can have whatever it is you want without working for it. The second is instant gratification. You must earn your place in the world.

Without working for what you have, you’ll find that the happiness you get from it doesn’t last long. Working for what you have builds character, and if you can cultivate good character in yourself and have a strong set of core values, success is inevitable. So put in the work and you will lead a happier and much more fulfilled life.

With all that you have achieved during your career, are you able to enjoy the process and take moments to celebrate the wins?

For me, the biggest “win” I have ever had is my family. I work incredibly hard, as does my daughter, but we both know what is really important in life, and that is family. Yes, we’re leading a successful real estate development and investment firm, and that has a lot of demands on our time, but my number one job is to create memories for my children and grandchildren – and Ana is doing the same with her family. No matter how busy you are, you can always make the time for what’s important.

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“I always say, ‘lead from the front, and by example.’

People need someone and something to follow, but they can’t do that if they don’t have someone to be a role model. So, don’t just say what should be done; do what should be done.”

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PURPOSE

The Power Of Partnership An Interview with Howard Milstein EDITORS’ NOTE Howard Milstein Cornell University, an O v e r s e e r o f is the third generation to lead the Weill Cor nell Medical College, and Milstein family’s business and philserves on the Dean’s Advisory Board of anthropic organizations. An entreHarvard Law School. He is Chairman preneurial builder of innovative of the American Skin Association, the companies, Milstein is Chairman Howard and Georgeanna Jones Founand CEO of New York Private Bank dation for Reproductive Medicine, & Trust and its operating bank, a n d t h e M i l s t e i n M e d i c a l Asian Emigrant, and also chairs and operAmerican Partnership Foundation. ates the Milstein family’s real estate Milstein also serves on the boards of the companies. Over the years, Howard National September 11th Memorial, the Milstein and the Milstein family have Nicklaus Children’s Healthcare FounHoward Milstein revitalized entire neighborhoods in dation, and PGA REACH. He is also New York City, fostered new, innovaChair of the Regional Plan Associative approaches in financial services, real estate, tion’s Committee on Critical Infrastructure, and hospitality, sports, and high-tech fields, and led from 2011-2014 served as Chairman of the New philanthropic initiatives that have changed York State Thruway Authority, where he successlives through medical advancement, education, fully led the design and procurement process for culture, and economic opportunity. In addi- a new Tappan Zee Bridge – the largest infrastruction to his pioneering work in banking and real ture project in the nation. estate, Milstein is also a leading entrepreneur in the golf industry. He is founder and Chairman Partnerships have been a key aspect of of 8AM Golf, a holding company for more than your work throughout your career. Will you a dozen brands, including GOLF Magazine discuss the importance of partnerships in and GOLF.com, the Nicklaus Companies, and helping an initiative reach its potential?

T-Squared (in partnership with Tiger Woods My job, at its most basic, is to help our and Justin Timberlake). He has been repeat- partners succeed. And it has always been my edly named one of the top 20 most powerful practice – in business, in philanthropy, and in people in the golf industry by Golf Inc. magazine. civic life – to draw upon the best ideas from For his work as a business leader and entrepre- partners in a range of disciplines. Leveraging neur, Milstein was named the 2008 Entrepre- the strengths of a diverse team allows us to neur of the Year by Cornell University. In civic challenge existing assumptions, finding new and philanthropic arenas, he is a Trustee at approaches and new solutions to pervasive and

often seemingly intractable problems. Intelligent leaders across a range of disciplines – academia, medicine and technology, business, sports and entertainment – provide insight from their unique perspectives, and that allows us to innovate in every area in which we operate.

Together, the right partnerships raise all of our games. The whole becomes greater than the sum of its parts.

Will you highlight how you have built partnerships to advance your work in medical philanthropy?

For generations, the Milstein family has partnered with leading scientists and institutions to address some our most pressing global medical needs. I am proud to continue that tradition. For example, we created the Abby and Howard P. Milstein Program in Chemical Biology and Translational Medicine at Weill Cornell Medicine and funded the launch and operation of its first Chemical Biology Core Facility, led by Dr. Carl Nathan. With our support, Dr. Nathan’s lab discovered the first molecules that kill Mycobacterium tuberculosis (Mtb) by inhibiting an enzyme complex called the proteasome. The practical impacts of discoveries such as these have been felt worldwide.

We also funded research at the National Institute of Health (NIH) by Dr. Steven A. Rosenberg, who pioneered the first effective immunotherapies for patients with advanced cancer. Dr. Rosenberg’s studies on the adoptive transfer of genetically modified lymphocytes resulted in

“…support we received from the Milstein family was critical in enabling us to do work we couldn’t do otherwise.”

Steven A. Rosenberg Senior Investigator, National Institutes of Health (NIH)

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Howard Milstein’s 8AM Golf partnered with Tiger Woods, Justin Timberlake, and the Nexus Luxury Collection to create T-Squared Social, a new sports dining experience

the regression of metastatic cancer in patients with melanoma, sarcomas and lymphomas. And I served as Chair of the New York Blood Center (NYBC) for more than 15 years, during a period of historic growth and advancement for the organization. In 1992, we launched the Howard P. Milstein National Cord Blood Center at NYBC, which is home to the first and largest public cord blood bank in the world. The Milstein

Center also developed HEMACORD®, the first FDA-licensed stem cell therapy.

As Chair of the New York State Thruway Authority, you spearheaded a unique publicprivate partnership for the replacement of the Tappan Zee Bridge. How important was this to the project’s success?

It was wonderful to put our ideas into action during my tenure at the Thruway Authority. For

decades, the notion of a government-run infrastructure procurement process coming in on-time and under-budget was virtually unheard of. But we were committed to working with the private sector to ensure success. As a private builder myself, I insisted on a design-build process to avoid inflated contracts and cost overruns. We then leveraged the knowledge and expertise of private-sector experts – including the bidders

“We’re excited to be partnering with 8AM Golf on this incredible opportunity…”

Justin Timberlake Entertainer and Golf Entrepreneur

VOLUME 47, NUMBER 1

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“Our effort is a prime example of an emerging paradigm; a new type of partnership, where academia works with private, government, corporate and even venture capital partners to develop critical, next-generation technologies.”

Dr. Emmanuel P. Giannelis Walter R. Read Professor of Engineering, Cornell University themselves, who had deep experience in building bridges all over the world – on a collaborative bidding process that all agreed was the most effective they had ever seen. The results? We were able to complete the procurement ahead of schedule, and approximately $2 billion under budget. That is the power of partnership.

You also forged a partnership with Cornell University, the Thruway Authority, and private enterprise to use nanotechnology to revolutionize road covering materials. Will you discuss this?

This was another great initiative launched during my time at the Thruway Authority, a true partnership between government, academia, and private enterprise. Early in my chairmanship, I asked the following questions: How can we come up with new materials that decrease road wear and thereby the cost of constant resurfacing? Was there a way to increase pavement strength while decreasing surface permeability and water susceptibility? Could we increase the shelf life of paving materials to overcome the tendency of these materials to break down before they are used? To help answer these questions, in 2015 my Foundation made a grant to Cornell University to study ways to use new materials and new technology to break this endless cycle of scraping and resurfacing.

Through the tremendous work of researchers led by Dr. Emmanuel P. Giannelis, the Walter R. Read Professor of Engineering at Cornell, the solution was found in nanotechnology. Nearly a decade later, patents have been issued covering new technologies that eventually will be used on roads across the nation. These materials vastly outperformed traditional surfacing material. This means stronger, longer-lasting surfaces, even in extreme weather conditions. With less frequent need for resurfacing, infrastructure funds can be redirected to other priorities, such as bridges, tunnels, airports, energy transmission and digital infrastructure. We are now working with privatesector entities to commercialize our work, which holds the promise of extending the life of road surfaces dramatically. The savings to New York State and our nation will be breathtaking.

How have partnerships played a role in your involvement in sports, including with leading golf brands?

We’ve had wonderful partnerships in the golf industry, including with legendary 24 LEADERS

Japanese clubmaker Katsuhiro Miura and his two sons, Yoshitaka and Shinei. Miura irons are known around the world for their quality and craftmanship, and it has been great to work with the Miura family to bring these hand-crafted irons to new audiences. We have also worked with Justin Timberlake since 2020. Justin is a partner and investor in 8AM Golf and leads creative initiatives across the 8AM portfolio of companies. In September, we partnered with Justin, Tiger Woods, and the Nexus Luxury Collection to create T-Squared Social, which redefines the sports dining exper ience, merging elevated cuisine and craft cocktails with state-of-the-art games and simulators for golf and other sports.

Beyond the world of golf, sports entrepreneurship has been a passion of mine for some time. For more than two decades, I’ve been partners with Sal Galatioto in Galatioto Sports Partners, which is the premier specialty banker serving the sports industry, including in the sale of sports team and the financing of sports arenas.

Along with your son, Michael, you pioneered Grand Central Tech and other technology initiatives. Will you provide an overview of this work?

Michael has been the true leader of this effort. About a decade ago, we created Grand Central Tech, a residency program designed to partner with dozens of Series A tech startups. We had an idea – somewhat radical at the time – to foster a hightech ecosystem right in midtown Manhattan, close to the centers of business, finance and media that drive our global economy. That initiative is now part of Company Ventures, and it has graduated more than 300 companies with a diverse array of founders from more than 160 countries. We partner with these startups to provide free rent with no equity commitment or strings attached. This idea led to the creation of a full vertical technology campus at one of our flagship buildings, 22 Vanderbilt.

Michael and I have also been very involved with Cornell Tech, Cornell’s groundbreaking technology campus on Roosevelt Island. We partnered with Cornell to create the Milstein Program in Technology and Humanity, which offers select undergraduates

in the College of Arts and Sciences a specialized curriculum to prepare them as leaders in an increasingly digital world. With advances in areas such as artificial intelligence (AI) and quantum computing, it is critical to understand the human impacts of new technologies – both for our world today, and for future generations. By merging technological understanding with a broad liberal arts curriculum, our crossdisciplinary program is designed to do just that.

How have partnerships played a role for Emigrant Bank and its parent organization, New York Private Bank and Trust?

My belief in effective partnerships extends to banking, of course, where there are many, many examples. Recent initiatives include partnering with some of the leading families in Sarasota to create the Sarasota Private Trust Company, which provides comprehensive wealth management services to area residents and their families. We are working on similar initiatives in Cleveland (through our Cleveland Private Trust Company) as well as in other local communities. We also created Emigrant Partners, which has made minority investments in more than 20 RIAs overseeing more than $100 billion in assets under management or advisement (AUM/AUA).

We don’t just provide investment to our partner firms, but a range of operational, marketing and strategic guidance – as well as the ability to leverage Emigrant’s extensive network of affiliated businesses.

What do you see as the key ingredients that make for a successful business partnership?

Three ingredients that come to mind are excellence, commitment, and trust. First, our partners must be true leaders – intellectually, operationally, and strategically. Then there’s commitment: each partner must have a passion for the goals we are trying to achieve, and a laser-like focus on moving ever closer to those goals. And finally, the most important ingredient: trust. Partners may argue, they may disagree, but each needs a dedication to dealing fairly with the other – operating in good faith, and with the best interests of the partnership in mind – to ensure the collaboration is effective.

Over the years I have learned that a partner who doesn’t have good faith and fair dealing among their bedrock principles is not a true partner at all.

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Building Tomorrow

We build complex buildings, implement sophisticated technologies that add value for clients, and invest in visionary real estate developments that are transforming skylines across America.

PURPOSE

A Noble Calling An Interview with Michael Dowling, President and Chief Executive Officer, Northwell Health EDITORS’ NOTE Michael Dowling Island Association. He is past chair I N S T I T U T I O N B R I E F N o r t h w e l l H e a l t h is one of healthcare’s most influenand a current board member of the (northwell.edu) is a clinical, academic and tial voices, taking a stand on sociNational Center for Healthcare Lead- research enterprise with a workforce of more than etal issues such as gun violence ership (NCHL), the Greater New York 86,000 and annual revenue of $18 billion. Northand immigration that many health Hospital Association, the Healthcare well is the largest healthcare provider and private system CEOs shy away from. His Association of New York State, and employer in New York State, caring for more leadership has been invaluable the League of Voluntary Hospitals of than two million people annually through a vast to Northwell’s consistent expanNew York. Dowling was an instructor network of more than 900 outpatient facilities, sion and prominence. In March at the Center for Continuing Profes- including 220 primary care practices, 60 urgent 2020, he successfully navigated sional Education at the Harvar d care centers, home care, rehabilitation, and endthe health system through the first School of Public Health. He earned his of-life programs, and 21 hospitals. Northwell also COVID-19 epicenter in the U.S., undergraduate degree from Univer- pursues pioneering research at the Feinstein InstiMichael Dowling detailing Northwell’s experiences sity College Cork (UCC), Ireland, and tutes for Medical Research and a visionary in a book titled, Leading Through his master’s degree from Fordham approach to medical education highlighted by the a Pandemic: The Inside Story of Humanity, University. He also has honorary doctorates Zucker School of Medicine, the Hofstra Northwell Innovation, and Lessons Learned During the from the prestigious Queen’s University Belfast, School of Nursing and Physician Assistant Studies, COVID-19 Crisis. Overall, Northwell treated over University College Dublin, Hofstra University, and one of the nation’s largest medical residency 300,000 COVID patients – more than any other Dowling College, and Fordham University. and fellowship programs.

U.S. health system.

Prior to becoming CEO in 2002 and joining Northwell in 1995, Dowling served in New York State government for 12 years, including seven years as State Director of Health, Education, and Human Services and Deputy Secretary to the Governor. He was also Commissioner of the State Department of Social Services. Earlier, he was a Professor of Social Policy and Assistant Dean at the Fordham University Graduate School of Social Services and Director of the Fordham campus in Westchester County.

Dowling has been honored with many awards and recognitions over the years, including the Ellis Island Medal of Honor, the Presidential Distinguished Service Award for the Irish Abroad, the Alfred E. Smith Award from the American Society for Public Administration, the National Human Relations Award from the American Jewish Committee, and the Foreign Policy Association Medal Award. In 2017, he was selected to serve as the Grand Marshal of New York’s St. Patrick’s Day Parade. In 2022, he was named the most influential leader in healthcare by Modern Healthcare, ranking #1 in its annual list of the “100 Most Powerful People in Healthcare,” making it the 16th consecutive year he was featured.

Dowling is past Chair of the Healthcare Institute and the current Chair of the Institute for Healthcare Improvement (IHI). He is a member of the Institute of Medicine of the National Academies of Sciences and the North American Board of the Smurfit School of Busi- Ukrainian President, Volodymyr Zelenskyy, presented Michael Dowling with the Order of Merit (Ukraine), a special distinction awarded to ness at University College, Dublin, Ireland. individuals for outstanding achievements to honor his exceptional leadership in providing vital medical care to Ukraine. Since the start of the war in Ukraine, Northwell has provided lifesaving supplies, telemedicine services, and direct care to wounded soldiers He also serves as a board member of the Long 26 LEADERS

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Michael Dowling speaking at a Northwell Health Gun Violence Prevention Forum

What are your views on the state of healthcare today?

To begin with, let’s be careful about definitions. There is a difference between medical care and overall health – medical care is a component of health, not its equivalent. If you ask how good our medical care and its delivery is (the healthcare system), I believe it’s the best in the world. Not perfect, of course – the U.S. does not have a unified, standardized national medical care system – we are a constellation of regional and local systems, such as Northwell who provide excellent care. These systems are continuously improving and innovating and responding to the diverse circumstances in each region. It’s also worth reminding ourselves of the enormous progress over the past half century – just think of what can be accomplished today in orthopedics, pediatrics and all other disciplines.

The new discoveries in research and models of education have and will continue to propel us forward. If you want to get the best overall medical care, the U.S. is the best place to be.

If you ask about the overall health status of the public in general, you have to look beyond the healthcare delivery system – you have to look at VOLUME 47, NUMBER 1

the social determinants of health and the causes of illness. Most ill health (75 percent or so) is the result of lifestyle, behavior and zip code – issues of obesity, food and nutrition, housing, poverty, drug and alcohol abuse, etc. Let’s just mention an issue that I am very involved in – gun violence.

Guns are the leading cause of death for adolescents and children – this statistic is not caused by the medical care at healthcare systems – it’s a political and social policy issue – the medical care system attends to the horrific results.

We need to define health more broadly.

We need to be going upstream to address the causes of illness and focus on prevention.

The medical care delivery systems, such as Northwell, have a responsibility here but to have an impact, other organizations, businesses and government need to be consistent partners. Improving overall health goes way beyond just being excellent in the delivery of medical care.

Is there an effective conversation taking place about the need to focus on prevention and wellness?

In some selective areas, yes – overall no, unfortunately. There is an abundance of

aspirational rhetoric by well-meaning individuals and business, but not enough consistent follow-through. It’s difficult and requires a longterm commitment, something that is not easy in a world addicted to short-term thinkings. It also requires addressing the issue of individual responsibility – what people do to themselves – if you smoke; if you don’t exercise; if you drink excessively. I am not sure we have the knowledge or science as how to best do this to get the desired results yet.

Allow me to mention two areas of special need that can, over time, make a positive difference. One is the need of a focused commitment on wellness at the elementary and high school level – a curriculum dedicated to the importance of nutrition, exercise, healthy lifestyle, etc.

The other area is the priority need for enhances in funding for mental health – one of the fastest growing areas – especially among adolescents. The growing statistics are very troubling and have long-term disastrous implications. Most of the funding is public (via Medicaid) but most providers, including Northwell lose money.

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Michael Dowling at work in his office at Northwell Health

Will you elaborate on how Northwell is delivering care outside of the hospital?

Many people are surprised when I say that only 47 percent of Northwell’s overall business is hospital, inpatient care. Well over a decade ago, we began expanding our outpatient, ambulatory footprint – moving services that were once done inside a hospital outside, such as imaging, cancer, urgent care, surgery, etc.

Northwell was at the forefront of this transformation of bringing necessary care closer to where people live. It’s better service, improved quality and more customer focused. Today, while we have 21 hospitals, we have almost 900 outpatient facilities and locations and the most comprehensive array of post-acute services such as home care, lab services and physical therapy.

This does not mean that hospitals are unimportant or less important. They will continue to provide high-end specialty care, intensive care, trauma services, transplant services and treat serious chronic illness. But they are only one component of the continuum of care. Hospitals will also be the place where most babies are born. At Northwell, we deliver about 1 percent of all babies born in the U.S. Is this structure sustainable?

Organizationally yes, but it will continue to evolve. More care now done only in hospitals will, once the science and quality accelerates, be moved outside. As people live longer and chronic illness increases, high-end tertiary hospitals will expand their capacity. The challenge is financial – the business aspect of care delivery. Most care is paid for by the two large government programs Medicare and Medicaid. At Northwell, it is over 60 percent of our business. Government payors – especially Medicaid -- do not pay enough to cover the cost. This is a universal problem, but exaggerated in high labor cost areas, such as New York.

Contrary to what some people think, we cannot, 28 LEADERS

like most businesses, just raise our prices – they are negotiated and regulated. It’s all sustainable as long as there is growth in the non-governmental business and organizations are adaptable enough to launch other revenue-generating options. This is why Northwell has established a for-profit set of business options such as pharmacy, lab, transportation and our own group purchasing organization (GPO).

The traditional way of doing business is not sustainable long term. Those that break with the status quo and become addicted to innovation and new thinking will survive.

Do you feel that the industry is attracting the talent required to meet the future needs in healthcare?

The industry will attract the best if we invest in talent, have a commitment to continuous learning, have a positive, team-oriented culture, and are focused on the mission of serving the whole community. I am convinced that people don’t just want to work for an organization – they want to belong to a cause, to be part of something that has real purpose, that is not afraid to take tough positions on matters important to society at large – e.g., climate change, gun violence, mental health issues, etc.

At Northwell, talent development and management is a top priority. That is why we have an internal “corporate university” called the Center for Learning and Innovation (CLI).

It is why we developed an innovative curriculum at our medical and nursing schools and why we work with over 60 high schools (this year touching over 100,000 students). It is why we create internships and apprenticeships for high school and college students to attract them to the field of healthcare and why we have our own scholarship program.

The talent we have today, as good as it is, will not be good enough for tomorrow. We have to create it. It is all a wonderful, exciting opportunity.

How important is it for the Northwell workforce at all levels of the health system to have a service mentality?

Very important. Just think of what they do each day – take care of others who are momentarily (at least for many) less fortunate.

This takes a special kind of person – a person with compassion, who has a belief in community, in the interdependence of us all. We are in the customer service business – taking care of

Michael Dowling greets new employees at a weekly orientation session.

Northwell, New York’s largest private employer, welcomes between 200-300 new team members every week

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Northwell Health leadership (from left): COO Mark Solazzo; John D’Angelo, MD; Rich Barakat, MD; CEO Michael Dowling; and Jesse Chusid, MD, cut the ribbon on Northwell Health at Rego Park, a $52 million, 70,000-square-foot transformative suite of medical practices in the heart of Queens which is easily reachable by car, subway or bus line and anchored by the largest outpatient cancer center in the borough

people who are in difficulty and improving their health and well-being. It’s a business, in my view, like no other and a business to be proud of. That is why I meet all new employees – about 250 each week – and have been doing so for over 21 years. I remind them that at Northwell they don’t just have a job, they have an obligation and a responsibility. I remind them of the importance of inclusion and diversity – that we all come from different places, all have an immigrant background, and are all here to serve the community and make a positive difference each day.

Will you discuss the impact that the medical school and nursing school have made for Northwell Health?

The schools have been incredibly successful, both in what they do, and in how they do it. The curriculum is innovative and unique. All medical students, for example, are trained as EMTs in the first nine weeks – they ride our ambulances and participate in treating patients from the beginning. They learn by doing, by being out in the community, witnessing the circumstances that patients and families live in. It enhances their knowledge VOLUME 47, NUMBER 1

and evolves their perspective on the true meaning of health. We broke with tradition and the status quo in redefining nursing and medical education.

The schools have been an import a n t recruiting tool for Northwell because people want to come to a place that excels in academics and research. The medical school and nursing school have elevated the organization, enhanced our brand, and our ability to recruit the best practitioners and researchers.

With the many aspects to the role of leading the largest health system in New York, how do you balance it all?

Life is a balancing act. In an organization such as Northwell, which is a large clinical operation, a large research operation, a large education operation, a large community health operation, a large for-profit operation – you balance it by putting the right people in place and giving them the tools they need to do their jobs. A leader is like an orchestra conductor – an orchestra has multiple components, 50 people playing different instruments at the same time – the conductor doesn’t need

to be able to play all the instruments, but he does need to make sure that when the music is played, it sounds beautiful and is seamless and integrated.

How do you describe your management style?

I have been away from home and on my own since I was 16 years old. This makes you learn how to deal with other people, and teaches you the importance of relationships, communication, resilience, and persistence. I played competitive sports, and you can’t win a team sport without being part of the team. I have had the benefit of working in academia and in government which has been very helpful in opening me up to new experiences and different environments.

I get up in the morning knowing that I can make a bigger difference today than yesterday.

I always feel I can do better. That opportunity is huge for me. For me personally, working in healthcare is not a job – it’s a privilege and a responsibility that enables us to improve people’s lives and the health of the community at large. It’s a noble calling and an opportunity to inspire.

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PURPOSE

Opening Doors To New Opportunities An Interview with Mohammed Alardhi, Executive Chairman, Investcorp EDITORS’ NOTE Mohammed Alardhi f r e q u e n t l y a b o u t inter national is the Executive Chair man o f t r a d e , t h e r e l a t i o n s h i p between Investcorp, a leading global the Middle East and the West, the manager of alternative investments, security of the Gulf, and other and author of Connecting to the topics. Alardhi holds a BS degree in Future: A Blueprint for Dynamic Military Science from the Royal Air Leadership. Since his appointment Force UK Staff College in Bracknell, as Executive Chairman in 2015, U.K. and an MPA degree from the John Investcorp has quintupled its assets F. Kennedy School of Government, under management (AUM) to Harvard University. over $50 billion and today has a presence in 14 countries across the FIRM BRIEF A global distribution Mohammed Alardhi United States, Europe, the Middle network, Investcorp (investcorp.com) East, India and Asia. A for mer has distinguished itself through its fighter pilot and Chief of the Royal Air Force of core principles of reliability, transparency, Oman, Alardhi retired after 25 years with the judgment, innovation, and a relentless focus rank of Air Vice Marshal. He was subsequently on generating superior results. It combines awarded the “Order of Oman,” the country’s a br eadth of global assets and r esources highest honor, by the late Sultan Qaboos w i t h a n e n t r e p r e n e u r i a l a p p r o a c h a n d bin Said Al-Said, as well as other awards in personalized service, offering individual appreciation of his public service. Alardhi is and institutional clients tailored alternative one of very few who have achieved the highest investment opportunities. Its $50 billion of assets rank in the military and then switched to a under management are diversified across three similar position in the private sector. Alardhi continents, six asset classes, and numerous serves on the International Advisory Board of pr oduct lines. Accessed thr ough its highly The Brookings Institute in Washington, DC, personal and responsive service and global and is a trustee for the Eisenhower Fellowship distribution platform, it offers an increasingly in Philadelphia. He also sits on the boards of diverse portfolio of investment opportunities the World Economic Forum, Harvard Kennedy for discer ning investors everywher e. With School’s Dean’s Council and the Harvard diversified asset classes and product offerings, Center for Public Leadership, and is a member Investcorp is also the largest alternative asset of the Global Advisory Council for the Woodrow manager in the Middle East.

Wilson Inter national Center for Scholars in Washington, DC. He is a graduate of Will you provide an overview of Investcorp’s the Royal Air Force Military Academy in business and how the firm has evolved?

Cranwell, U.K., and the National Defense Investcorp was founded in 1982 with University in Washington DC. He speaks the idea of providing a bridge between

high-net-worth individuals in the Arabian Gulf countries and alternative investment opportunities in the United States and Europe.

Few individual investors at the time were familiar with alternative asset management; Investcorp was one of the very early entrants in the field.

Investcorp’s original formula for success was the deal-by-deal model. Each transaction was presented to each client individually and they could decide whether to invest or pass. But the deal-by-deal model didn’t allow for longterm committed capital, nor was it scalable.

And because it was the main source of revenue for the firm, it represented an especially high level of risk. How much risk became evident after Lehman Brothers collapsed in 2008 and world markets imploded. In the ensuing global financial crisis, more than half of Investcorp’s total equity was wiped out.

Since I became Executive Chairman in 2015, Investcorp has expanded from a Gulfcentered boutique firm into a global multi-asset firm with a diversified client base and offices in eight countries. Our assets under management (AUM) have more than quintupled, from $9 billion to over $50 billion.

How did you effect that transformation?

Transforming an organization requires commitment from the top and conviction from everyone else. How do you instill an enthusiasm for change and the fortitude to take the risks required to realize that change? By giving people something to get excited about.

A few days after I became Executive Chairman, the two co-CEOs and I met to create a road map for growth. In the wake of

“To convince people to explore the art of the possible, we followed six steps: shock the system; question the status quo; push people to think bigger; don’t penalize the right kind of risk-taking; create a comfortable forum to share ideas; make everyone an owner. And always, always, always work to break down silos and encourage collaboration.”

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“We need to hardwire adaptability into our culture if we’re to survive another 40 years. But even as we evolve, there will always be some key elements we want to retain: being a learning culture, being willing to question the status quo, and welcoming new ideas.” its near-d e a t h e x p e r i e n c e , I n v e s t c o r p ’ s growth had stalled and its go-getting spirit had stagnated. Meanwhile, younger firms had moved into the alternate asset field and leapfrogged us.

We had to grow or die.

We set a target of reaching $25 billion AUM in five years – more than double where we were. The figure represented, to quote Barack Obama, “the audacity of hope.” It was ambitious but attainable, the result of careful analysis that was at once realistic and required a complete reinvention of the firm’s culture.

I wanted people to be inspired by the possibility of exceeding their own expectations.

I wanted them to believe that, by working together, we could reach that goal. And I wanted them to trust me to lead them there.

We blasted past $25 billion in three years. We’re now aiming for $100 billion in AUM. But we still refer to that road map. It’s our touchstone for transformation.

In your book, you describe a playbook for transfor mation. What are the key points?

If you visit any Investcorp location, whether you’re in London, New York, Mumbai or Bahrain, you’re likely to spot a framed poster depicting the intricately decorated doors of Oman. The posters express my pride in my home country, but they also send a message: I want to remind people that our business is about opening doors to new opportunities. The posters ask: Which doors will you choose to open and which will you have the courage to walk through?

To convince people to explore the art of the possible, we followed six steps: shock the

system; question the status quo; push people to think bigger; don’t penalize the right kind of risk-taking; create a comfortable forum to share ideas; make everyone an owner. And always, always, always work to break down silos and encourage collaboration.

How do you define the Investcorp difference?

What makes us different is our culture.

The Investcorp culture is idiosyncratic in the industry. In other firms, as the saying goes, you eat only what you kill. That shapes the culture massively. Here, it’s a learning culture. We want people who are naturally curious and we try to satisfy that curiosity through a culture that’s open to new ideas. You’re encouraged to take risks and develop.

At the same time, we’re also a collaborative culture. One of the biggest challenges when I became Executive Chairman was bridging and breaking down silos. The silos still exist – to a lesser degree – but our growth has helped to dissolve them. The more global we become, the more opportunities emerge for cross-function connections.

Let me share some statistics: Over 60 percent of Investcorp’s employees have been with the firm for fewer than five years; more than 40 percent joined in the past three years; and 25 percent joined in the past year alone.

That may be nothing in a tech start-up, but it’s a huge amount of new talent for a 40-year-old investment management firm to incorporate.

But here’s another interesting fact: The standard turnover rate in this industry is close to 20 percent. Our turnover rate is confidential, but it’s very low compared to our peers.

People come for the growth opportunity; they stay because of our culture. We periodically examine our culture and ask ourselves: What do we stand for? What is important? What is relevant today? What will no longer be relevant tomorrow? We need to hardwire adaptability into our culture if we’re to survive another 40 years. But even as we evolve, there will always be some key elements we want to retain: being a learning culture, being willing to question the status quo, and welcoming new ideas.

You said that the culture encourages risk-taking, yet when you became Executive Chairman, Investcorp’s culture was defensive and risk averse. How did you change that?

I’ve always said that Investcorp will not be a one-mistake firm. If you want people to think bigger and set audacious goals, they need to feel comfortable making mistakes. Otherwise, they will wait for you to think for them. That’s the worst outcome for everyone.

Trust is the key element in pushing people to break the habits that are holding them – and us – back. People need to feel they’re being cared for, that they can talk to anyone – including me – and that when they do raise their hand, they won’t be criticized or ridiculed for not knowing something.

We need to set people up for success. It’s the leader’s responsibility to keep an eye on how people develop and to give them the flexibility and opportunity to move, both vertically and horizontally. Clarity in setting expectations is really important. So is communication: how they’re progressing, what challenges they’re facing, and what tools we can give them to help overcome those challenges.

“Trust is the key element in pushing people to break the habits that are holding them – and us – back. People need to feel they’re being cared for, that they can talk to anyone – including me – and that when they do raise their hand, they won’t be criticized or ridiculed for not knowing something.”

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A very important caveat is that when someone messes up, it’s crucial to understand the reasons. Was it something within their control or did external factors influence the outcome? Of course, mistakes are inevitable.

That’s how we learn, as individuals and as an institution. We just try not to make the same mistake twice.

You write that “leading a company like Investcorp has a lot in common with flying

a high-performance fighter jet.” Will you elaborate on this comparison?

You have to be confident. You have to be a good communicator. Whether you’re flying by yourself or in formation, everyone needs to know your plan – what the targets are, the order in which the squadron will attack, what to do when things go wrong. Teamwork is essential: You need to know that someone is looking after you and will alert you if an enemy sneaks

up behind you. You’re constantly honing your situational awareness so that you carry a clear mental picture of your position in time and space as it relates to the other planes in your squadron, potential attackers and, of course, the unforgiving ground.

The popular assumption is that both flying and i n v e s t i n g satisfy an appetite for risk. I don’t think that’s quite right. I think they require fortitude in the face of risk. The secret to survival and success is acknowledging the full range of risks and calculating how to mitigate them long before you push the throttle forward or sign off on an action plan.

And then there’s the excitement, the sense of accomplishment and, yes, the wonder, whether I’m in a cockpit or “flying a desk” at Investcorp.

You also write, “Our business is all about measuring and managing risk.” How can you future-proof the firm?

You can’t predict when life will throw you a curve ball. What you can do is prepare for how you will respond, because the only certainty is that external factors magnify and amplify internal issues. That’s why we’re focusing on five key areas where Investcorp is reinventing and reinforcing itself to confront the challenges ahead: • Attracting, developing, and retaining the right talent • Maintaining our culture • Scaling up our business • Exploring new sources of capital • Sharpening our situational awareness The story goes that when Jack Nicklaus hit his 18th hole-in-one, a fan congratulated him on his good luck. Nicklaus thanked him and replied, “The more I practice, the luckier I get.”

I believe you can make your own luck.

Every day provides an opportunity to practice: to strengthen existing skills and learn and leverage new ones that will help us withstand future shocks.

What was the most useful advice you’ve ever been given?

When I was a cadet in the Royal Air Force of Oman, I was selected for officer training at the U.K.’s Royal Air Force College in Cranwell, England. It was my first trip outside of Oman, and I was understandably nervous. My father gave me the best piece of advice I have ever received. “Of course, they do things differently there. Some of their customs will seem very strange to you.

My advice is: Whenever there’s anything you don’t understand, just ask. Don’t judge. Just ask. And they will tell you.”

Thanks to my father, I learned to feel comfortable about going into new situations.

The unknown, I discovered, was not something to fear, but rather something to explore with optimism and an open mind. Today, I regularly share my father’s advice with young people at Investcorp: “Don’t be too proud to ask questions – and keep asking until you understand the answers.”

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PURPOSE

Shaping New York City An Interview with Harrison Sitomer, Chief Investment Officer, SL Green EDITORS’ NOTE Harrison Sitomer company and our city – and probserves as SL Green’s Chief Investably the fact that we are all in the ment Officer, overseeing the compaoffice together every single day of ny’s investment platform. Sitomer the week – causes us to be more like is responsible for sourcing and family than colleagues. executing the company’s acquiWhether it is someone in construcsitions, dispositions, financings, tion, operations, leasing, investments – and joint ventures, along with we are all working as one team to get debt and preferred equity investstuff done. ments. Sitomer also manages the What have been the keys to Food1st Foundation, a 501(c)3 SL Green’s leadership in the industry? established by SL Green, which has Two of the keys to the compaHarrison Sitomer purchased and delivered nearly ny’s leadership in the industry are our 1,000,000 free meals throughout continuity and sticking to what we New York City since the start of the COVID-19 know. pandemic in order to serve a dual mission of With respect to continuity: Across all of our addressing increased demand for food assis- disciplines, there is significant tenure and leadtance, while also helping to revitalize New York ership that has seen it all. Every type of market, City’s food and beverage industry by reacti- every type of issue has been encountered. And vating more than 35 kitchens. Sitomer serves on that leadership team has made it a priority to the Board of Directors of the American Friends share these experiences with the next generaof the Rabin Medical Center and is a member tion of the organization. For example, Marc of the David Rockefeller Fellowship Program Holliday, our Chairman and CEO, has led the and the Milken Institute Young Leaders Circle. company for over 26 years and maintains disciSitomer received a BA degree from the Univer- pline for the organization, and I personally have sity of Pennsylvania. benefited from his mentorship.

With respect to sticking to what we know: Many of our competitors are in 5, 10 or even 15 geographic markets and rely heavily on third parties, market reports, etc. In comparison, we stick to New York, a market that we know. For example, if I want to know the exact rent for a building I can go to Steve Durels, Head of Leasing, and if I want to know the cost to build out a space, I can go to Bob Dewitt, Head of Construction, and because of that we have a competitive advantage in our decision-making and our underwriting. For me, this makes my job much easier than investment managers that have the burden of relying on third parties local to a market – we can rely on our internal teams that have first-hand information and accountability, and we can make decisions with better information than anyone else.

What are your views on the state of the New York real estate market and how is SL Green positioned for success even with the headwinds facing the office sector?

We made a very concerted effort over the past few years to dispose of non-core assets and significantly enhance and improve the portfolio.

So, the good news is that the portfolio is high

COMPANY BRIEF SL Green Realty Corp. (slgreen.com), Manhattan’s largest office landlord, is a fully integrated real estate investment trust, or REIT, that is focused primarily on acquiring, managing and maximizing value of Manhattan commercial properties. As of June 30, 2023, SL Green held interests in 60 buildings totaling 33.1 million square feet. This included ownership interests in 28.8 million square feet of Manhattan buildings and 3.4 million square feet securing debt and preferred equity investments.

Will you provide an overview of your role and areas of focus?

As Chief Investment Officer of SL Green, I oversee the Company’s investment platform and am responsible for SL Green’s investment and capital markets business – acquisitions, dispositions, refinancing, recapitalization, and direct lending.

How do you describe SL Green’s culture and values?

Simply put, SL Green is made up of committed, die-hard New Yorkers. Everything we do is focused on not only enhancing the company, but also the city we operate in.

This collective sense of mission to better the 34 LEADERS

One Vanderbilt

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760 Madison Avenue, an SL Green ultra-luxury residential condominium project in partnership with Giorgio Armani (above and below)

quality and as a result it is performing well – leasing, operations, and capital metrics are all at market leading levels. The more macro focus, not specific to New York or the commercial real estate business, is the disruption in capital markets. I am hopeful we will see a pickup in that activity once there is a clearer direction from the Fed. For SL Green, more specifically, we have great relationships with our partners and lenders – they have a lot of faith in us to execute on business plans, and they are patient, long-term thinkers like we are. Further, given our relationships, we are well-positioned to be opportunistic in this market and take advantage of the market dislocation.

Will you discuss SL Green’s current development projects?

Among all of our development projects, I am most excited about 760 Madison Avenue.

We are developing an ultra-luxury, exclusive residential condominium project in partnership with Giorgio Armani, which will be known as the Giorgio Armani Residences. It’s a really special project, with only ten residences – including one that will belong to Mr. Armani – situated atop what will be Armani’s new Manhattan flagship at the corner of East 65th Street. We’re on track to complete construction next summer.

What do you see as SL Green’s responsibility to be engaged in the communities it serves?

SL Green is a New York company. It is not only where we work and where we invest, but it is also our home. And because of that, we care deeply about New York, and we work tirelessly to see the city succeed as it has a tangible impact on our everyday life. There are very few companies where you have the opportunity to work on projects that you, your family and friends all get to enjoy. Whether it is helping open a new 10-seat Michelin Starred VOLUME 47, NUMBER 1

sushi restaurant in Grand Central called Joji, constructing buildings where your neighbors work every day, or developing a global attraction like SUMMIT One Vanderbilt, the projects that SL Green creates will help shape New York City and all of us take enormous pride in what we do every day.

You manage Food1st Foundation, which was founded by SL Green. What was the vision for creating Food1st and will you discuss the impact of the Foundation?

Marc Holliday, Jelena Kero, Daniel Boulud, and I launched this initiative together in 2020.

The vision was simple – we were sitting in our office in April 2020 seeing the devastation

COVID-19 was having on our City every day, and the idea came up to find a way to support restaurants that were otherwise going out of business due to the pandemic, while at the same time helping feed those that required food assistance. The need was endless. We reached out to some of our partners, lenders, and tenants to help us raise funds and we got to work.

Everything was done completely in-house – restaurant activation, food distribution, fundraising – all while trying to keep the business running during a very difficult period. Food1st is still going, with 1 million meals and dozens of restaurants supported. We are very proud of this initiative, and it continues to demonstrate our commitment to New York City.

How do you describe your leadership style?

In many ways, I look at the team as an extension of my family. I put a lot of trust and faith in them and do everything I can to support them, and I expect the same in return. We all spend a lot of time together, so it is critical that we not only work well together, but that we enjoy doing it as well.

You started as an intern at SL Green and now serve as Chief Investment Officer.

What has the journey been like for you?

The journey has been pretty surreal. I joined SL Green with absolutely no real estate background or experience – in fact, I barely got through the interview process. And to get to this point has required a lot of hard work, dedication, great mentors, and is a result of SL Green’s focus on investing in young talent and creating an opportunity for the younger generation of leaders to grow and climb the ladder quickly.

I am hoping this journey is still just getting started.

With the impact that you have made at SL Green and the many deals that you have led, are you able to enjoy the process and take moments to celebrate the wins?

We certainly try. We have developed traditions that we try to uphold when we close transactions. It gives us the opportunity to slow down for a second and appreciate all of the hard work that goes into each deal. And then get back to work the next morning.

What advice do you offer to young people beginning their careers?

Most business is based on relationships and shared experience. And the easiest way to build those relationships is to get to the office five days a week. The experience I get from being in the office every day, going to events at night, meeting people for breakfast, lunch and dinner – those types of relationships are career accelerants and will play a significant role in anyone’s growth at any stage in a career.

Beyond that, I am a big believer in establishing strong mentors both for professional and personal growth. People that you can look up to and that can set benchmarks for what you want to achieve in your life. I have been fortunate to have multiple mentors at SL Green who have been beacons for me and have also been incredible sounding boards when things inevitably don’t go as planned.

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PURPOSE

Building A World Where Opportunity Is Universal And Potential Is Limitless An Interview with Cyndi Court, Chief Executive Officer, TGR Foundation EDITORS’ NOTE Cyndi Court education. We achieve our mission joined TGR Foundation with through the TGR Learning Lab more than 25 years of executive and through our national programs, experience in several national which provide students opportunities education-b a s e d o r g a n i z a t i o n s to discover their interests and unlock focused on serving young people their potential. from under-resourced communities.

We help our young students find In her role as CEO, she has executive their passions through our educational r esponsibility for all aspects of programs and expose them to relevant the Foundation’s programs and careers that would allow them to outreach, including the flagship get paid for doing something they TGR Learning Lab in Anaheim and love. This excites them about learning, Cyndi Court future TGR Learning Labs at Lulu’s motivates them to remain committed Place in Los Angeles and at Cobbs to their schooling, and better positions Creek in Philadelphia. Prior to joining TGR Foun them to make their aspirations a reality. dation, Court was the Chief Development Officer What excited you about the opportuat Berry College in Atlanta where she oversaw all nity to lead TGR Foundation and made you development, philanthropic communications, feel it was the right fit? alumni engagement and a comprehensive This is a pivotal moment for TGR Foundacapital campaign which included the renovation tion. We are building on the impact we have and construction of new academic facilities. made in Anaheim, California through the TGR She also created and endowed a scholarship Learning Lab and opening new TGR Learning program for students experiencing challenging Labs in Philadelphia and Los Angeles in 2025 circumstances including significant financial and 2026, respectively. I am both excited and need and created opportunities for diverse students honored to be leading the expansion efforts in STEM with corporate partners. Prior to Berry because we will soon be impacting thousands College, Court served as the chief marketing and development officer of Special Olympics International and executive vice president, resource development and marketing, at Boys & Girls Clubs of America. During her time with Boys & Girls Club of America, she worked with Major League Baseball and Henry and Billye Aaron to endow the Hank Aaron Chasing the Dream Foundation program for youth.

more youth from under-resourced communities – all of whom deserve equitable access to educational opportunities and resources.

During the last 25 years, I have held executive roles at several national education-based organizations focused on serving young people from under-resourced communities. I have led youth development and education initiatives, marketing campaigns and national, regional, and local fundraising efforts. This experience will be a great asset as TGR Foundation expands its geographic footprint and program portfolio.

Will you provide an overview of the work of TGR Foundation and highlight its initiatives?

For more than 17 years, TGR Foundation has provided experiential learning programs focused on educational enrichment, health and well-being development, college access, and career readiness to young people from underresourced communities. TGR Foundation also operates the Earl Woods Scholar Program, a compr ehensive college scholarship and mentorship program, and professional learning programs for educators.

ORGANIZATION BRIEF For more than 25 years, TGR Foundation (tgr foundation.or g) has worked to create a world where opport u nity is universal and potential is limitless.

With an unwavering commitment to impact youth from under-resourced communities, its mission is to empower students to pursue their passions through education. TGR Foundation helps students connect their passions with purpose through signature programs focused on in-person project-based learning, skills development, college access, career preparation and educator professional development.

How do you define TGR Foundation’s mission?

TGR Foundation exists to empower students to pursue their passions through 36 LEADERS

Members of the Earl Woods Scholar Class of 2023 represent their universities during the program’s annual Winter Workshop

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“When I was a kid, my parents taught me the importance of sharing and caring and instilled a simple principle in my life: try to make an impact in one person’s life, every day. At TGR Foundation, we are doing just that, making a meaningful impact on the lives of youth one day at a time.”

Tiger Woods, Founder, TGR Foundation

Tiger Woods connects with his mentee, Sammy Mohammed, a TGR Learning Lab & Earl Woods Scholar

In 2006, TGR Foundation opened the 35,000 square foot TGR Learning Lab in Anaheim, California, a safe and inspiring educational space for students to discover their interests, develop their aptitudes and unlock their potential. The TGR Learning Lab offers programming during the academic year and the summer tailored to uplift and empower fifth through twelfth grade students from surrounding communities.

TGR Learning Lab programs supplement traditional primary and secondary schooling by offering hands-on classes and activities that spark an excitement for learning. They also allow youth to explore a wide range of subjects that broaden their interests and their understanding of professional opportunities that are attainable if they remain committed to their education.

Our programs also foster social-emotional learning in young people and instill in them the importance of physical and mental health and well-being. Students are empowered by our team of dedicated educators to discover their inherent value and individual potential. This holistic support breaks down systemic expectations and helps youth develop confidence and self-awareness. Our programs aim to prepare youth to achieve their professional aspirations through career-connected learning VOLUME 47, NUMBER 1

opportunities, post-secondary education (college, certification programs, trade programs, etc.), advisement and essential life skills development. Connecting learning to future opportunities motivates youth to graduate high school, complete post-secondary education and pursue meaningful work in industries aligned with their passions.

How critical are metrics to measure the impact of the Foundation’s work?

Metrics are critical to our operations; they measure the effectiveness of our existing programs, guide the development of new offerings, and allow us to convey our impact.

Young people are our “customers” and meeting their needs is vital to retaining them year after year, which leads to more transformational impact. We survey each student after they complete a program to understand what is working and what can be improved.

During the last academic year, 77 percent of students who participated in TGR Learning Lab after-school classes reported being more aware of careers aligned with their interests and 70 percent expressed that they felt more motivated to achieve their goals.

TGR Learning Lab students collaborate on coding activities during an after-school class

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“This is an exciting time for TGR Foundation. Cyndi’s leadership will deepen our impact on the students and communities we serve through our TGR Learning Lab in Anaheim and our future TGR Learning Labs in Philadelphia and Los Angeles.”

Tiger Woods, Founder, TGR Foundation After the TGR Learning Lab in Anaheim resumed in-person programming following the COVID pandemic, analysis of our data indicated that we had an opportunity to increase the number of high school students we serve annually. This fall, we introduced two new career-connected learning programs designed specifically for teenagers, a demographic typically harder to reach due to the wide range of activities that vie for their attention. Ninetythree percent of participants in our first “Industry Academy,” which was focused on community health, reported having a deeper understanding of career options in the medical industry and 89 percent felt more equipped to achieve their career goals.

In anticipation of opening TGR Learning Labs in Philadelphia and Los Angeles, we are conducting community assessments to ensure the programs we will offer meet the specific needs of students and the surrounding communities. For example, only 6 percent of the nearly 20,000 students at the Philadelphia public schools located within a three-mile radius of the future TGR Learning Lab achieved proficiency in mathematics on the Pennsylvania Systems of School Assessment. We have already begun addressing the significant need for tutoring in West Philadelphia through programs at local schools.

Will you discuss Tiger Woods’ passion and commitment for the work of TGR Foundation and how engaged he is in its efforts?

TGR Foundation was created to expand the Woods’ family legacy of sharing and caring.

Education always came first in the Woods household and after the tragedy of 9/11, Tiger told his father, Earl, that he wanted to create “a safe space for kids to learn, grow and chase after their dreams.” This passion led him to build the TGR Learning Lab Anaheim.

As the founder of TGR Foundation and a member of our Board of Governors, Tiger is actively involved with our strategic direction.

The quality of our educational programming and the impact we are having on each individual life are his top priorities. Tiger leads by example.

He served as a mentor for Sammy Mohammed through our Earl Woods Scholar Program, which was created to honor the legacy of Tiger’s late father. The two have a very special bond. Sammy, who comes from an immigrant household, was first exposed to the TGR Learning Lab on a school field trip as a fifth-grade student. He continued participating in our expanded learning programs through high school, working towards his dream of going to college, and then he was selected to be an Earl Woods Scholar. He is now an engineer at Google.

Students enter the TGR Learning Lab in Anaheim, California for after-school programs 38 LEADERS

Did you always know that you had a passion for this type of work and what makes the work so special for you?

Empowering young people is my personal passion, especially through education. As a firstgeneration college graduate, I see very clearly the power of education. Without the mentorship and support I received during school, my life path would have been completely different. That is why I am here at TGR Foundation. Young people from under-resourced communities have just as much potential as their more privileged peers; they often just lack opportunities due to systemic inequities. Our programs help these youth unlock their unique talents and achieve their aspirations.

Our students go on to become positive agents of change within their families and communities.

What are your priorities for TGR Foundation as you look to the future?

The future of TGR Foundation is incredibly bright. As I mentioned earlier, this is a pivotal time for the organization. We are enhancing our educational offerings to serve a wider age range of young people in a deeper, more meaningful way, while also expanding geographically to significantly increase our reach and impact. However, achieving these priorities will require more annual fundraising revenue and more partnerships with industry leaders who can provide unique career-connected learning opportunities and real-world work experiences for the young people we serve.

Every day, there are students being left behind at schools across the country; the achievement gap and opportunity gap for young people in under-resourced communities continues to widen.

Securing more mission-aligned donors will allow us to empower more of these youth to pursue their passions through education and to conduct feasibility studies to determine the communities that need TGR Learning Labs the most. Our expansion to Philadelphia and Los Angeles is only the beginning.

We are also seeking national, regional, and local partnerships with mission-aligned corporations, companies and not-for-profit institutions.

There are ample ways to support TGR Foundation and the young people we serve including program and scholarship sponsorships, paid internships and volunteer opportunities, such as mentoring, for industry professionals.

Invested donors and partners will allow us to achieve our vision: a world where opportunity is universal and potential is limitless.

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Foremost Group HONOR. INTEGRITY. PERFORMANCE. Since 1964

Our mission is to remain a premier provider of ocean transportation services & a model of excellence for our industry. https://www.foremostgroupusa.com/

https://www.linkedin.com/company/foremost-group

PURPOSE

Doing Well By Doing Good An Interview with Richard A. Rosenbaum, Executive Chairman; Shari L. Heyen, Senior Vice President, Co-Chair, Global Restructuring & Bankruptcy Practice, and Managing Shareholder of the Houston office; Jaret L. Davis, Senior Vice President and Co-Managing Shareholder of the Miami office; and Barbara A. Jones, Co-Managing Shareholder of the Los Angeles office, and Chair of the interdisciplinary Blockchain & Digital Assets Practice, Greenberg Traurig LLP EDITORS’ NOTE Richard A. Rosenbaum is the Executive Chairman of Greenberg Traurig, a unified international law firm of more than 2,650 attor neys in 47 locations ar ound the globe. He has long been consider ed a thought and change leader in the broader legal profesRichard A. Rosenbaum sion. He joined the firm in 1985 as its 90th lawyer and has since been integrally involved in forming and successfully executing the strategies which have led to the firm’s growth and unique culture across the United States, Europe and the Middle East, Latin America, and Asia. He closely guards the firm’s long-term core values while still aggressively navigating ever-changing times. Rosenbaum has always put the firm’s clients and people first, understanding that a law firm leader works for them, first and foremost. He is proud of his work in founding the firm’s renowned and wide-ranging “commitment to excellence” program, which ensures that all these values remain core to the firm’s daily practice and global brand for many years to come.

Shari L. Heyen is Senior Vice President, Co-Chair of the fir m’s Global Restructuring & Bankruptcy Practice, and Managing Shareholder of its Houston office.

Heyen has experience in complex restructuring, bankruptcy, insolvency, and complex commercial litigation matters. She has Shari L. Heyen represented numerous cr editors’ committees, debtors, bank groups, acquirers and other significant constituencies in national Chapter 11 cases and workout proceedings, including complex oil, gas, and energy cases. Heyen has broad experience in the prosecution and defense of fiduciary litigation, real estate, oil and gas, healthcare, receiverships, and alternative energy matters.

40 LEADERS

Jaret L. Davis is Senior Vice Pr esident and Co-Managing Shar eholder of the firm’s Miami office. He oversees approximately 200 attorneys and 200 business staff based in the firm’s founding office and focuses his practice on structuring and negotiating domestic and cross-border mergers Jaret L. Davis and acquisitions, capital raising transactions, and large financings. For over a decade, Davis has led the efforts of the Miami office and served as one of several leaders guiding efforts of the firm globally to be a dominant player in the technology industry.

Barbara A. Jones is Co-Managing Shareholder of the firm’s Los Angeles office and Chair of the firm’s interdisciplinary Blockchain & Digital Assets practice. A member of the firm’s Global Corporate practice, Jones maintains a diverse corporate and securities law practice across industry groups, emphasizing complex interBarbara A. Jones national and domestic transactions, including private and public financings, dual listings, mergers and acquisitions, strategic collaborations and joint ventures, and licensing transactions. She serves as a trusted advisor to public and private company boards of directors on governance matters and complex regulatory reporting and compliance issues.

FIRM BRIEF Greenberg Traurig, LLP (gtlaw.com) has more than 2650 attorneys in 47 locations in the United States, Europe and the Middle East, Latin America, and Asia. The firm is a 2022 BTI “Highly Recommended Law Firm” for superior client service and is consistently among the top firms on the Am Law Global 100 and NLJ 500. Greenberg Traurig is Mansfield Rule 6.0 Certified Plus by The Diversity Lab. The firm is recognized for powering its U.S. offices with 100 percent renewable energy as certified by the Center for Resource Solutions Green-e® energy program and is a member of the U.S. EPA’s Green Power Partnership Program. The firm is known for its philanthropic giving, innovation, diversity, and pro bono.

When did you know you could make a difference and how did that impact your career choice?

Rosenbaum: When I was a boy, there was a bully who terrorized the neighborhood. One day, I came home bruised-up after my own encounter. My mother told me, “Find that bully, look him in the eye and fight back.” He never dared confront me or my friends again. Like that, I became the de facto neighborhood protector.

This lesson stayed with me: to stand up for what is right. Perhaps it even propelled me to pursue a career in law, a profession in which I could fight for my clients’ interests, upholding the rule of law, and making a difference.

Benjamin Franklin’s quote, “do well by doing good,” captures the idea that personal success can often be aligned with finding a moral purpose in your own life and turning that discovery into making a difference in other’s.

What are the keys to finding purpose in the practice of law and how does Greenberg Traurig’s “Commitment to Excellence” program reinforce the firm’s purpose?

Rosenbaum: At Greenberg Traurig, we believe that finding purpose in the practice of law can take on many forms, including maintaining core values and culture, fostering diversity, providing pro bono legal service, embracing ESG (environmental, social, and governance) goals, and adhering to an elite standard of ethics and professionalism to offer the highest level of legal services to clients.

I feel humbled to witness the benefits of our “Commitment to Excellence” program which I helped develop. This initiative serves as a comprehensive guide for consistency of quality, compliance with the highest ethical legal standards, and allows us to work as one unified law firm with a common value system spanning practices, sectors, and worldwide locations.

Greenberg Traurig now has more than 2650 attorneys in 47 locations worldwide.

How does purpose play into this growth?

Rosenbaum: Franklin also said: “Well done is better than well said.” As top-tier lawyers and a leading global firm, our goal is to demonstrate our commitment to excellence in every facet of our work. Our truest measure is found in our actions, not just our words. We are nimble, act swiftly, and strive to deliver uncompromising value to our clients.

In a dynamic global economy, it’s crucial that we stay ahead of growth trends, ensuring we remain aligned with our clients’ evolving

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needs. For example, we recently opened in Singapore to expand our Energy Transition and Infrastructure practices to advise clients involved in helping Southeast Asian countries achieve their climate goals, an estimated annual cost of approximately $210 billion.

We also recently opened in the Kingdom of Saudi Arabia and the United Arab Emirates, areas experiencing robust finance funds inflows, attraction of major global sports and entertainment events and talent, and significant infrastructure projects. We are expanding our capabilities in these respective practice areas to meet the needs of clients in the Middle East as well as those looking to conduct business there.

Globally, we are expanding our Private Credit capabilities as that market is expected to balloon to $2.2 trillion by 2027. We are also expanding in other sectors of expected growth including Restructuring, Energy, Infrastructure, and Healthcare. In all these examples, our purpose remains steadfast: to leverage these opportunities for sustained growth to be able to deliver unparalleled service and value to our clients.

Our unique global and collaborative platform allows us to quickly build multidisciplinary teams as needed. We combine regional attorneys with intricate knowledge of local laws and attorneys from around the world with deep knowledge of specialized industries to create bespoke teams who can swiftly advise clients on complex matters wherever and however they need.

Did you feel you had a special purpose in attending law school?

Heyen: I was a CPA before I went to law school, and I really wanted to use my accounting background to work in the restructuring world. I have always been driven by the desire to shift into a higher gear in complex reorganization situations and experience the thrill from implementing business solutions in distressed financial conditions.

What purpose-driven trends are affecting bankruptcy clients?

Heyen: With an increase in mandated ESG requirements, there is a heightened focus on companies meeting their environmental and diversity responsibilities in the reorganization and bankruptcy world. Strengthening governance structures and transparency, ensuring ethical decision-making, and adherence to compliance standards – for example, climate change impacts, pollution, sustainable resource management, and an emphasis on social factors – are key. In addition, we regularly collaborate and align with clients on programs and initiatives that focus on delivering measurable progress in diversity and inclusion across the board, not simply checking boxes and completing surveys.

Greenberg Traurig received the Global M&A Network “Restructuring Law Firm of the Year” honor, and you received the “Woman Restructuring Leader” award. How do these recognitions reflect the firm?

Heyen: We are proud of our group’s accomplishments and the work we do for our clients.

Doing exceptional work requires a team of diverse professionals who collaborate and bring different perspectives to each engagement. Great leaders lead by example, with intention and a VOLUME 47, NUMBER 1

servant mentality. It is our authenticity that draws people closer, allows others to trust us, and showcases the team’s capabilities. These honors demonstrate that we have built a strong legal team, notable for our collaborative work ethic.

“In a dynamic global economy, it’s crucial that we stay ahead of growth trends, ensuring we remain aligned with our clients’ evolving needs.”

Richard Rosenbaum

What infor med your decision to become a lawyer?

Davis: Had anyone suggested to me during my formative years that I would become a lawyer, I would have been quite surprised. I was interested in business and technology. In college, I learned how combining these interests with a law degree would allow me to play a role in operationalizing ideas, ranging from social justice to a start-up business plan. Since that realization, this concept of bringing ideas to life has become my North Star.

What is your favorite part of the practice?

Davis: My favorite part is the impact. Technology and entrepreneurship are potential silver bullets to attack many of society’s ills. My practice and my life have revolved around doing my part, individually, by facilitating transactions for clients, and on a more global scale, by working on innovation ecosystems from Miami to Oslo to Montreal.

What purpose-driven trends are you seeing in technology and entrepreneurship?

Davis: Over the past 20 years, Miami has experienced a “movement” to develop our

community into a major tech and innovation hub. That movement has provided a focal point drawing engagement from business, government, nonprofits, and the media. This focal point forces these groups to go beyond their traditional boundaries which is critical for any city and is one of the most powerful aspects of other mission-oriented pillars such as pro bono, DEI (diversity, equity, and inclusion) and ESG. Our firm has dedicated many resources towards their development and nurturing. We believe that facilitating how the diverse spheres of our community can find common purpose is a critical role which allows us to leverage our “day job” skills in service of our fellow residents.

What inspired you to become a lawyer and focus on transactional law?

Jones: I became a corporate/transactional lawyer to be a “change agent.” Practicing corporate law provides the opportunity to combine one’s knowledge of the law and the ability to analyze a particular set of facts with the purpose of then finding an ethically appropriate and suitably practical solution to a client’s needs.

Ideally, that solution results in a benefit not just for the client, but also serves as a best practice or model to be employed by others in fostering positive social, cultural, and economic change and progress.

What purpose-driven trends do you see affecting corporate clients?

Jones: Purpose-driven initiatives are playing an ever-increasing role for corporate clients. DEI and ESG have become key factors for in-house legal teams and decision-makers in differentiating among firms as part of a proposal process for new or continuing engagements. A law firm’s commitment is expected to align with the corporate and social responsibility initiatives of the client to foster and promote positive change.

What is the importance of having a collaborative culture and team?

Jones: Greenberg Traurig is a role model amongst law firms for fostering collaboration within a geographically and ethnically diverse workforce focused on driving positive results internally and for our clients. Our firm’s culture is unique in the social programming, leadership, affinity groups, and local initiatives that emphasize corporate and social responsibility within the firm and our local communities to serve as effective change agents. Just as in any client engagement, it is the collective power of the team that far surpasses the impact of any one individual in effecting positive change. When you have a workplace where everyone feels valued and respected, we unlock the authenticity needed to address our goal of delivering excellence and value to clients across a global platform.

Rosenbaum: During one of the most challenging periods in world history, we execute from a position of strength as one united global firm that fosters individual empowerment and collective achievement. We are highly ranked attorneys who value working together for our clients, our communities, and each other – a shared experience for the benefit of all.

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PURPOSE

Advancing Child Health An Interview with Kevin B. Churchwell, MD, President and Chief Executive Officer, Boston Children’s Hospital EDITORS’ NOTE Kevin Churchwell home to the world’s largest pediis the President and Chief Execuatric research enterprise and is the tive Officer of Boston Children’s primary pediatric teaching hospital for Hospital. Since joining Boston ChilHarvard Medical School. Boston Children’s as its Executive Vice President of dren’s treats more children with rare Health Affairs and Chief Operating diseases and complex conditions than Officer in 2013, Churchwell has been any other hospital. For more than 150 instrumental in leading the hospiyears, Boston Children’s Hospital has tal’s work to become a High Relimaintained the same vision: to advance ability Organization, one where zero pediatric care worldwide. avoidable harm impacts any patient, family member, or employee. He Will you highlight Boston Children’s Kevin B. Churchwell has brought to Boston Chrildren’s Hospital’s history and heritage? the same passion for enhancing Boston Children’s Hospital has the patient family experience that defined his always looked to the future. From the day we tenure as CEO of both Nemours/Alfred I. duPont were founded in 1869, we have pursued discovHospital for Children in Wilmington, Dela- eries and innovations to transform pediatric ware, and Monroe Carell Jr. Children’s Hospital, medicine and improve young lives. For example: part of the Vanderbilt University Medical Center in • We cultured the polio virus, leading to Nashville, Tennessee. An advocate for equity, the polio vaccine and earning us the Nobel Prize diversity, and inclusivity, Churchwell is respon• We performed the first surgery to correct sible for establishing 3 of the 11 offices of health a congenital heart defect, launching the field of equity and inclusion at hospitals across the U.S. pediatric heart surgery and Canada, including the office at Boston • We developed the first effective treatChildren’s, which he founded in 2016. With the ment for childhood leukemia, establishing publication of Boston Children’s own Declara- chemotherapy as a mainstay of cancer treatment tion for Equity, Diversity and Inclusivity in 2020, Churchwell has committed to the work required to make Boston Children’s a community that’s made stronger by its differences, and a leader in equity for all. A graduate of Massachusetts Institute of Technology and Vanderbilt Medical School, Churchwell completed his pediatric residency and a clinical fellowship in Pediatric Critical Care at Boston Children’s Hospital.

He is currently an Associate Professor of Pediatric Anesthesia as well as the Robert and Dana Smith Associate Professor of Anesthesia at Harvard Medical School. Churchwell is also a member of the Massachusetts Business Roundtable, a board member of the Boston Chamber of Commerce, Massachusetts Health and Hospital Association, the Whitehead Institute, Advisory Board for The Boston University School of Public Health, and the Boys and Girls Club of Boston.

INSTITUTION BRIEF Boston Children’s Hospital (childrenshospital.org) is dedicated to improving and advancing the health and well-being of children around the world through its life-changing work in clinical care, biomedical research, medical education and community engagement.

Boston Children’s is ranked among the best in the nation by U.S. News and World Report. It is 42 LEADERS

• We developed the measles vaccine and earned another Nobel Prize Our history of breakthroughs continues to drive us. The next 10 years in medicine will be transformative: our ability to cure diseases once thought incurable, like Sickle Cell Disease; advancing our treatment of rare and complex diseases, which affect more than 350 million people globally, half of whom are children; and transforming the way we approach mental illness.

We want to raise the level of healthcare for every child, no matter where they live. We have so much work to do. As my wife, Gloria, who is my partner in this work and whom I thank for her support and encouragement, likes to say: it is a privilege to be part of making a difference in children’s lives. I can’t think of a more important heritage.

How do you define Boston Children’s Hospital’s culture and values?

At the heart of who we are, what we do, and how we do it, are our culture and the values we work to uphold for our patients, families, and communities. Our culture is a collaborative, compassionate, and caring one. Our values reflect our commitment to the belief that how

Kevin Churchwell discussing Boston Children’s Hospital’s COVID-19 vaccination program with Massachusetts health officials

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Kevin Churchwell touring Boston Children’s Hospital to celebrate being recognized again as one of the leading pediatric hospitals in the country by US News and World Report (above and below)

we work together is as important as what we do together. We work to develop and support the highest values of respect, inclusivity, teamwork, and kindness to provide patients, families, communities, and each other with an experience equal to the care we deliver.

Our culture is one of looking to the future and supporting the research, clinical innovation and excellence it takes to move our care of children to the next level.

Most important, our work is guided by our mission: • Provide the next evolution of exceptional, innovative care • Lead in research and discovery that supports the evolution of pediatric care and education • Be at the forefront in educating tomorrow’s leaders in child health • Improve the health and well-being of children and families in our communities What have been the keys to Boston Children’s Hospital’s strength and leadership in the industry?

The most important factor has been – and remains – our people and their commitment to our mission. Whether our work is around the world or around the corner, we assign it the same level of commitment and respect. In the end, we have to succeed in every facet of our mission to maintain our leadership and effectively serve our patients, families, and communities.

We treat patients from all 50 states and more than 100 countries, and we treat more children with rare diseases and complex conditions than any other hospital in the world. While there are many people, departments, and objectives, we are one team with one common, overarching VOLUME 47, NUMBER 1

goal: to advance and improve the health and well-being of children – all children, regardless of their race, ethnicity, where they live, or who pays for their care.

Discovery and innovation are in our DNA. Each person’s work contributes to our achieving – and often exceeding – this goal, and ultimately to extending our leadership. We are always asking ourselves how we can make our children’s future the strongest and healthiest it can be.

What are the keys to effective leadership and how do you describe your management style?

I believe effective leadership is directly related to management style. I promote “servant leadership” in my work. To me, that means leadership that enables others to be their best selves and in doing so enables the mission of Boston Children’s Hospital. To do that well, I continue to work on being the best listener I can be in my meetings and my interactions. Active listening requires patience and engagement to get all the best ideas and thoughts before a decision is made. I also believe a leader must come with a point of view that can bring the enterprise together. I try to always look to the future, and move our incredibly vital mission forward.

A leader has to make decisions, but I try to follow the advice of the great college basketball coach, John Wooden – “Be quick but don’t hurry” – in strategy, planning and engagement.

Boston Children’s Hospital is home to the world’s largest pediatric research enterprise. Will you discuss Boston Children’s investment and commitment to research?

Only through research, innovation, and discovery can we hope to cure future generations. More than 3,000 researchers work in our facilities, which encompass one million square feet of research space. Their groundbreaking work covers a wide range of specialties: revolutionizing treatments for children with common conditions, such as asthma, diabetes, and obesity, and for those with rare diseases, cancer, metabolic disease, immunologic conditions, and other complex conditions.

Our research enterprise encompasses basic, translational, and clinical research, as well as community research programs and the postdoctoral training of new scientists. Our goal is to be the recognized leader in creating and sharing

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Kevin Churchwell with staff members of Boston Children’s Hospital

knowledge to prevent, treat, and cure childhood diseases around the world. The caliber of science among our researchers is impressive and has earned national and international recognition.

Among all hospitals in the U.S., we rank fourth in research funding from the National Institutes of Health and first in pediatric research funding. Our total combined annual research funding is more than $500 million, with more than $100 million coming from generous donors who share our commitment to advancing and improving child health. They want to change the world. So do we.

When it comes to pediatric medical research, we are dedicated to the proposition that Boston Children’s is where the world comes for answers.

How is Boston Children’s Hospital supporting health equity?

Health equity for all children is an important priority for Boston Children’s. We have a very diverse patient population, and over the years, we have created a series of initiatives aimed at reducing pediatric health inequities: • In 1968, we created one of the first community health centers in Boston • In 2017, we created our Office of Health Equity and Inclusion • In 2020, working with our Board of Trustees, we adopted an enterprise-wide Declaration around our health equity work, which we embedded into our overall enterprise goals • In 2021, we created the Fenwick Institute for Pediatric Health Equity and Inclusion, which is advancing pediatric health equity by: º Reducing health disparities through research that helps improve health outcomes and makes them more equitable º Using data to inform public policy and drive change 44 LEADERS

º Diversifying pediatrics by recruiting, developing, and advancing leaders who reflect the wide range of patients we serve.

While we have steadily moved the ball forward, we know that there is much more to do to achieve our goal of ensuring health equity for all children. We are committed to maintaining and expanding our work, and to continuously examining what we can do to strengthen it. Every day we look to determine what the opportunities are and how we can maximize them.

How important is it for Boston Children’s Hospital to build a diverse and inclusive workforce?

Building a diverse and inclusive workforce is crucial for the success of Boston Children’s as we continue to welcome patients and families who represent different backgrounds and cultures.

How else can we provide excellence in care without that being part of our secret sauce? Our vision is for our patients to see themselves in our workforce. Patients are more likely to trust and engage with our staff and providers who share their backgrounds and understand their needs.

A diverse workforce allows us to address the root causes of pediatric health disparities that disproportionately affect historically underserved communities. By understanding local, cultural, and socioeconomic factors that influence health, our staff and providers can shift their approach to address these disparities and promote equitable access to quality care in the communities we serve.

Bringing together individuals with diverse perspectives, experiences and backgrounds also helps us bring new approaches to problemsolving, innovation and creativity across all areas of the enterprise. We want our boardrooms, research laboratories, and operating rooms to continue to do incredible work. I have no doubt our best work will come from inclusive and diverse teams.

What do you see as Boston Children’s responsibility to be engaged in the community it serves?

Boston Childr en’s mission includes improving the health and well-being of children and families in our local community. Our Office of Community Health brings together hospital and community resources to address health disparities, improve health outcomes and promote health equity. Our work has included innovative models that have improved health outcomes and addressed health disparities throughout communities.

Our community efforts are focused not only on our own programs, but also on partnering with other organizations offering services that benefit children and families. We especially focus on children and families who are impacted by the negative social determinants of health, challenges that impact overall health such as poverty, living in unstable or unsuitable housing, being unemployed or underemployed, and being exposed to violence.

An example of an initiative we are proud of is the Boston Children’s Collaboration for Community Health. We launched the Collaboration in 2018, and today it is providing funding to 51 projects supporting Boston families to improve health outcomes and build healthier communities. In 2022, our Board of Trustees also approved our first Impact Investment Fund which, as part of our commitment as a Healthcare Anchor Institution, invests a portion of our endowment back into the local community.

Through these and other programs, Boston Children’s is giving community organizations more tools and resources to build a healthier future for children.

What advice do you offer to young people interested in becoming a doctor?

Whenever I speak to young people interested in becoming a doctor, I share four lessons which I have learned over the course of my career: Lesson 1: Become the best doctor you can be. Early in my career, I didn’t have a specific, defined plan, but I did know one thing, and that one thing became my North Star: I wanted to become the best doctor I could be.

Lesson 2: Say “yes.” Also early in my career, if I was asked to start a program or fix a problem, my answer was “yes.” I have said “yes” to a lot of things throughout my career. Saying “yes” has given me experience and created opportunities.

Say “yes” whenever possible.

Lesson 3: Find mentors. As I advanced into leadership roles, I realized more and more that I had an aptitude for this kind of work. More important, I found a number of mentors, and their wisdom, advice and guidance has made an enormous difference in my professional life and my career trajectory.

Lesson 4: Be flexible and appreciate your value. My final piece of advice is that things often change, and you have to be prepared for that change. Your boss can change. Your role can change. Your hospital can be acquired. You have to be flexible. And you have to appreciate your value, and that what you have to offer can be utilized by others.

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Re-imagining real estate for the advancement of our communities

RXR.COM |

ONE_RXR

ARTIST RENDERING OF

CLINTON PARK, NEW ROCHELLE, NY

BUILDING COMMUNITY

PURPOSE

A Collaborative Community An Interview with Darryl Eaton and Rick Roskin, Co-Heads of North American Touring, Creative Artists Agency (CAA) EDITORS’ NOTE Respected industry leaders Darryl Eaton and Rick Roskin help guide the unprecedented success of the #1 live music agency in the world. The over 130-agent team r epr esents the globe’s top musical artists and comedians, from superstar headliners to breaking new artists.

Eaton represents a diverse roster of top touring acts – such as The Weeknd, Kelly Clarkson, Blink-182, RBD, Glass Animals, Arcade Fire, A$AP Rocky, and Enrique Iglesias – advising clients on concert tours, event bookings, and overall career development. In the past year, The Weeknd sold more than three million tickets and grossed over $360 million; Blink-182 has sold 1.2 million tickets so far – in addition to the half million tickets they sold throughout their headline festival slots – grossing $150 million and counting; Red Hot Chili Peppers sold 2.9 million tickets, grossing over $360 million; Enrique Iglesias’ Trilogy tour with Pitbull and Ricky Martin has sold 270,000 tickets, earning $45 million across 25 shows; and Mexican superstar group RBD has sold around 1.6 million tickets, grossing $200 million.

Roskin sits on the agency’s CAA Board, r esponsible for managing the agency’s day-to-day operations. His client roster includes Eric Clapton, Santana, Iron Maiden, Cheap Trick, Kesha, Counting Crows, Kelly Clarkson, Tom Mor ello, Slipknot, OneRepublic, Rob Zombie, The Black Crowes, Kelsea Ballerini, The Black Keys, and Fiona Apple, among others.

AGENCY BRIEF Positioned at the nexus of talent, content, brands, technology, sports, and live events, CAA (caa.com) creates limitless opportunities for the storytellers, trendsetters, icons, and thought leaders who shape popular culture.

Across film, television, music, sports, digital media, marketing, and beyond, CAA represents thousands of the world’s leading actors, directors, writers, producers, musical artists, comedians, authors, athletes, coaches, broadcasters, teams, leagues, chefs, designers, fashion talent, consumer brands, and more. Since its founding in 1975, CAA has continued to deliver on its promise that every client is represented by the whole agency. With a global network of employees and strategic partners in North America, Europe, Asia, and beyond, CAA taps its unequaled internal and external ecosystem of experts, relationships, access, and industry intelligence to help ensure that its clients achieve their goals.

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Rick Roskin and Darryl Eaton

Will you provide an overview of CAA’s Music & Comedy Touring group?

Eaton: Our Music & Comedy Touring group is the best in the business, and that all begins with our people. We have more than 300 employees across Los Angeles, Nashville, New

York, London, Austin, Miami, and Toronto. Our colleagues are the most talented and creative at what they do, whether that’s representing our clients in their music or comedy touring careers, helping them achieve their film and television aspirations, or connecting them with and negotiating brand and marketing opportunities. We put great focus on our culture of collaboration, across the touring department and throughout the agency, and that team mentality is central to everything we do and to how we approach client representation.

How do you describe CAA’s Music & Comedy Touring group’s mission and purpose?

Roskin: Our goal is to super-serve our clients. We represent the best artists in the world at the very highest level, and our approach is to serve them with intelligence, tenacity, hustle, curiosity, and teamwork. We’re constantly investing in and developing new data and technology tools to stay ahead of the industry for the benefit of our clients.

Will you provide an overview of CAA’s Music & Comedy Touring group’s services and capabilities?

Eaton: We have over 150 agents and executives in our Music & Comedy Touring

“We put great focus on our culture of collaboration, across the touring department and throughout the agency, and that team mentality is central to everything we do and to how we approach client representation.”

Darryl Eaton

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groups working across seven offices, with the goal of helping our clients translate their art around the world in a way that is authentic to each artist and their dreams, while maximizing their reach, growth, and revenue. Our group expertly navigates every aspect of the live touring and artist services business, from on-sale dates to ticket sales and platforms.

Our colleagues serve as experts in current territories and venues while also expanding into new areas around the world. We do that with the support of a wide range of services, which includes our brand partnerships, film and television crossover, marketing, and private and corporate events divisions.

What have been the keys to CAA’s Music & Comedy Touring group’s leadership and how do you define the group’s difference?

Roskin: You’ll hear this from many places, but the truth is that at CAA, we actually live it! We’re a collaborative community – many of us have been here 15, 20, or 30 + years – and we put great emphasis on the company credo, “When you take care of each other, good things happen.” When you live and breathe that motto across a company, it creates an atmosphere where we like to come to work and love what we do. Collaboration is intrinsic to everything we do and as a result, we’re able to do the best work for our clients together.

How valuable has it been to have a sponsorship group inside CAA’s Music & Comedy Touring group?

Roskin: Honestly, the word “sponsorship” isn’t really used anymore. It’s much more about brand partnerships, where artists have the opportunity to become integrated and have a deeper connection with the brands they’re working with. In some instances, they even have an equity stake. We see a huge opportunity in brand partnerships, as well as double-digit growth in the private and corporate appearance spaces.

How do each of you focus your efforts and what has made your relationship work so well?

Eaton: At one of our earliest CAA company retreats, Rick jokingly described our relationship saying, “He’s a Mac, I’m a PC.” And it’s funny, but it’s true – our strengths complement each other. It’s that balance and that trust that works – we’ve been working together now for more than 30 years.

Will you discuss your views on the state of the music industry and what you expect for the future?

Eaton: What we’re seeing right now is unbridled growth and demand in an era of uncertainty. While people might shy away from making larger life purchases or investments, attention has turned to investing in experiences – especially in live entertainment. People want to create connections and experience community – something larger than themselves – and live entertainment does just that.

Roskin: The growth in touring is evidence of that and points to further growth in 2024. As we look forward, what we do know is that the world keeps getting smaller while the global nature of our business is still expanding. Music is universal – there are no barriers when it comes to language or geography in sharing in an artist’s work or performance. That universality and fandom is what music and touring is all about.

Will you discuss the focus on building a diverse and inclusive workforce to mirror the diversity of CAA’s clients and the communities it serves?

Eaton: The issue of diversity and inclusion is a very important one for us. We believe more diverse voices from a wide variety of backgrounds make our company stronger and provide a better-quality experience for everyone – our colleagues, our clients, and their fans. It is good business. To create sustainable, long-term

“Our goal is to super-serve our clients.

We represent the best artists in the world at the very highest level, and our approach is to serve them with intelligence, tenacity, hustle, curiosity, and teamwork.”

Rick Roskin

change, we’ve put a focus on our entry-level population, starting with our recruitment and summer internship programs. These efforts have resulted in a significant change to the pipeline of young staff hired by CAA, as well as those whose internships translate into jobs across the industry.

CAA actively recruits from top-tier colleges and universities, historically black colleges (HBCUs), colleges with high Latino populations, and women’s colleges all across the U.S. Roskin: We also launched CAA Elevate, a nextgeneration training and development curriculum designed to cultivate best practices, encourage innovation, foster global strategic-thinking, and nurture the talents of CAA’s next generation of agents and executives. Since its launch in 2021, we’ve had 16 music and comedy touring assistants enter and graduate from the program.

How do each of you describe your management styles?

Eaton: Being agents ourselves, we know the level of commitment and hard work you have to maintain to be really great at what you do, and we also understand the pressure and stress that comes with the territory. So, we try to manage like we’d want to be managed ourselves – to come from a place of empathy and be in it together, to try and help provide solutions when challenges arise, recognize the work being put in, and celebrate the successes of our group as a collective.

Roskin: Agents are ultimately entrepreneurs, so we try to give people enough space to be creative and entrepreneurial to help build our clients’ businesses. At the same time, we stress the importance of collaboration and communication as a group. This ultimately ensures we’re all rowing in the same direction.

It’s a delicate balance, but ultimately that’s what separates us from our competition.

You have both spent your careers at CAA. What has made the experience so special for you?

Roskin: It’s about the people. It’s about the friendships we’ve made over the years and the new ones we’re investing in now. In an intense industry, it’s much better to be surrounded by people you enjoy working with and care about.

CAA is a company with a heart, and we’re proud to have invested our careers here.

What are your priorities for CAA’s Music Touring division as you look to the future?

Eaton: We’re focused on being ahead of the curve and being thought leaders, not followers.

We do that with intentional growth, as well as with our collective strength and intelligence.

Ultimately, our priority is to continue to overserve and over-deliver for the most talented and admired creators in the world.

Roskin: Internally, we’re focused on continuing to hire, nurture, and develop talented and ambitious people to continue to be the best and most steady team in the live industry. We’ve had very little turnover in over 30 years and we’re really proud of that – our goal is to keep building on what we’ve created for the next 30 years. CAA has always been at the top, and we intend to remain the number one agency in the world by continuing to represent our clients at the very highest level.

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PURPOSE

Choose To Be Extraordinary An Interview with Dr. Nido R. Qubein, President, High Point University EDITORS’ NOTE Dr. Nido Qubein Will you provide an overview of the will be North Carolina’s only optometry school. became the seventh President of High history of High Point University and Today, we know that HPU has never been better Point University in January 2005. Since how the university has evolved? positioned for sustainable success. that time, enrollment has quadrupled, As a university president and a How do you define the HPU difference campus has expanded from 90 to 520 parent to four children, I believe that and what makes the University unique? acres, and academic schools have leadership should always be forward HPU’s purpose is to prepare students to grown from 3 to 13. Qubein came to thinking. It must be realized fully thrive in the world as it is going to be. That’s why the United States as a teenager with thr ough the p r i s m of the long- as the Premier Life Skills University, we focus on limited knowledge of English and only term, future view. We’re proud of our developing life skills and fostering the values of $50 before going on to build business university’s past, and we’re preparing to God, family, and country. In a word, our purpose partnerships in banking, real estate, celebrate our centennial anniversary in is transformation. When you equip students with a publishing, and retail businesses.

2024. That, however, hasn’t prevented us growth mindset and ensure that decision-making Dr. Nido R. Qubein Prior to his role as HPU president, from continuing to look ahead. While is based on values, that’s when students transQubein rose to prominence as an HPU has enduring roots as a liberal arts form into leaders. I remain as passionate about internationally known author and consultant institution, we’re constantly searching for new ways our work today as I have ever been. who has given more than 7,500 presentations to offer more opportunities to our students.

Will you discuss HPU’s transformation worldwide. He has served on the corporate boards The growth that has occurred at HPU since under your leadership? of several Fortune 500 companies including Truist, I started as HPU’s president in 2005 has been HPU has created a distinctive, intentional the sixth largest bank in the nation, La-Z-Boy, and nothing short of amazing. Enrollment has environment that inspires students to want to succeed.

FinThrive Healthcare. Qubein is also executive quadrupled, campus has expanded from 90 to 520 You can’t just lecture young people and hope they chairman of the Great Harvest Bread Company. acres, and academic schools have grown from 3 learn something. Throughout our campus you see Among numerous honors and recognitions he has to 13. The Workman School of Dental Medicine our call to action: Choose to be extraordinary. And received, Qubein is an inductee of the Horatio Alger and Kenneth F. Kahn School of Law will more than merely seeing this declarative statement, Association for Distinguished Americans, along welcome their first students in the fall of 2024. you can feel it. It’s what students and families remark with Oprah Winfrey and Colin Powell.

Dr. Catherine Heyman was named the founding on the most. We have a culture that must be dean of HPU’s new School of Optometry, which experienced to be understood.

UNIVERSITY BRIEF Founded in 1924, High Point University (highpoint.edu) is a liberal arts institution located in the Piedmont Triad region of North Carolina. “America’s Best Colleges” 2024 Edition, published by U.S. News & World Report, ranks HPU #1 among all regional colleges in the South (the twelfth consecutive year at number one). It also ranked HPU for the ninth consecutive year as the number one Most Innovative Regional College in the South for innovation in curriculum, faculty, students, campus life, technology, and facilities.

HPU was named for the thirteenth consecutive year to the national “Colleges of Distinction” list.

HPU also earned Fields of Study distinctions for the Phillips School of Business and the Stout School of Education. The Princeton Review named High Point University as one of the nation’s top institutions for undergraduate education. The Princeton Review also named HPU in the 2024 edition of “The Best 389 Colleges” and on the Best Southeastern Colleges “2024 Best Colleges: Region

by Region” list. HPU was also recognized among the Top 20 in the nation for Best-Run Colleges, Best Career Services, Most Beautiful Campus, Most Active Student Government Association, Best College Dorms, and Best Campus Food, as well as a Great School for Business/Finance Majors and a Students in front of the Wanek School of Natural Sciences at HPU Great School for Communication Majors.

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Study lounge in HPU’s Congdon School of Health Sciences

HPU is a positive place. We don’t harp on what’s wrong with the world. Instead, we focus on the positives. We focus on the opportunities our nation provides, and we encourage our students to transform their lives and transform the world.

How is High Point University preparing its students for future success in today’s global economy?

A college education should not only focus on the attainment of a diploma. An extraordinary, holistic education should be about professional development and personal transformation, too. In the First-Year Seminar on Life Skills that I teach for all freshmen, I share with our students that life is about both success and significance. Significance offers greater clarity and reflects the influence and impact you have on others. Yes, we must feed the minds of our students, but we must also feed their hearts.

A day rarely passes when global leaders aren’t on our campus connecting with students.

Nowhere else do college students regularly learn from so many like Apple Computer Co-Founder Steve Wozniak – HPU’s Innovator in Residence; Netflix Co-Founder Marc Randolph – HPU’s Entrepreneur in Residence; Dallas Mavericks’ CEO Cynt Marshall, HPU’s Sports Executive in Residence; Domino’s CEO Russell Weiner – HPU’s Corporate Executive in Residence; former U.S. Ambassador, FCC Chairman, and Chairman of AT&T’s Board of Directors William Kennard – HPU’s Global Leader in Residence, and many others who’ve led some of the most recognizable organizations in the world. This is part of our intentional Access to Innovators program – one of many educational hallmarks at HPU. At the same time, our campus is filled with laboratories and real-world studios that are often referred to as Ivy League-level facilities.

Inside, students work tirelessly to conduct research, produce creative works, master the latest VOLUME 47, NUMBER 1

technology, invent new ways of doing things, and tirelessly practice scenarios that students will encounter in the workforce.

Has it been a focus to increase the number of international students attending HPU and will you discuss the makeup of HPU’s student population?

I came to this country as an immigrant at the age of 17. I’m not shy about reminding our students that there are millions of people around the world who want to come to America. You don’t see people wanting to leave. Sometimes it takes an immigrant to remind Americans about the

blessings that exist in this nation. It’s not a perfect nation – there is no such thing. But oh my, how I appreciate the opportunity to encourage our students to take calculated risks, work hard, give back, and go out and make our world better.

At the start of the fall 2023 semester, HPU’s campus welcomed its largest enrollment and the largest international student population in the university’s history. Students come from all 50 states, and our Kester International Promenade is lined with flags of the 50 countries our international students represent from across the globe.

Each year, short-term study abroad programs allow HPU students to travel internationally with their professors to learn about different countries through real-world experiences. Last year, HPU students enrolled in 23 different classes explored 11 countries, including Australia, France, Ireland, Italy, Japan, the Czech Republic, the Netherlands, Scotland, Spain, Switzerland, and the United Kingdom.

Will you highlight the strength of HPU’s faculty and your focus on attracting top talent?

Our faculty are not only top-tier experts, but they’re also stellar mentors to our students.

Teacher assistants don’t lead classes at HPU. Faculty are devoted to student teaching and student outcomes. They bring with them years of industry experience to share in and outside the classroom. They guide students through many experiential learning opportunities and hands-on research projects.

In fact, U.S. News & World Report ranked HPU #1 for Best Undergraduate Teaching in Regional Colleges South. And our faculty were awarded $31 million in grants in the past year alone by some of the most prestigious research organizations, including National Institutes of Health (NIH) and National Science Foundation (NSF).

Collaborative study space inside the Wanek School of Natural Sciences

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HPU’s Nido and Mariana Qubein Arena

At HPU, we also attract global and entrepreneurial leaders to coach and inspire our students through our Access to Innovators program, which I mentioned earlier. Numerous industry titans serve in-residence at HPU through this program, including Apple Co-Founder Steve Wozniak – HPU’s Innovator in Residence, and Netflix Co-Founder Marc Randolph – HPU’s Entrepreneur in Residence. Imagine being a student and having the opportunity to have coffee with the co-founder of Netflix or lunch with the co-founder of Apple Computer. Our students have done these things, and the experiences are profoundly life-changing.

What do you see as HPU’s responsibility to the community it serves and how is the university engaged in the community?

When I accepted this position as President in 2005, the first action I took was to declare to the city of High Point that HPU was High Point’s University with an apostrophe “s.” I held a press conference and luncheon and told community leaders that HPU would not survive if the city didn’t support it, and I reminded the city leadership that HPU had the potential to lift the community up for a better tomorrow.

Now, some 20 years later, HPU has been a blessing for the city, and I’m grateful that HPU has played a critical role in revitalizing many aspects of High Point, North Carolina. We’ve led the downtown transformation by raising the funds to purchase a professional baseball team and securing naming rights for the new stadium, all of which has served as a catalyst for continued development in downtown High Point just blocks away from HPU. HPU also attracts more than 100,000 visitors a year from across the United States and from dozens of nations and generates $765 million in annual economic impact. So, yes, it is important that HPU serves as a leader in our community in many ways, including through the 500,000 hours of 50 LEADERS

service the HPU family contributes each year.

There’s a scripture we have displayed in the grand lobby of the Hayworth Fine Arts Center. It’s Luke 12:48 – “To whom much is given, much is required.” That perfectly defines our values regarding HPU’s leadership and participation in the city of High Point.

How do you define the role of a university president and what are the keys to being effective in the role?

A leader must define a clear vision, develop a solid strategy, execute consistently, and interpret value. These are the fundamentals of effective leadership. It’s what I strive to focus on in all my work.

My management style is summed up very simply: Inspect what you expect. I’m a regular presence on campus and talk to students often to understand what they’re thinking.

I walk campus and inspect our facilities for cleanliness, order, and yes, even to assess the energy our campus creates to help propel our students forward. I asked our team to put an outdoor ice rink on campus during the pandemic. I wanted something safe and fun.

That would have never happened if I stayed at my desk all day simply making calls and managing e-mails.

I meet with faculty and staff frequently to learn more about their areas of focus and to ensure the university is appropriately allocating resources. A leader can’t allocate resources effectively without a vertical and diagonal understanding of each business unit.

Ultimately, I make myself available to students, parents, faculty, staff, alumni and the community. I answer my e-mails. It’s not delegated.

If I’m going to make decisions about the future of the institution, then I have to believe I’ve assessed the risks and understand the potential benefits of those decisions.

What advice do you offer to young people going through the college selection process?

Be brave. Don’t be afraid to take a calculated risk and go to a college that will provide you with maximized learning opportunities where you can prepare for lifelong success.

Many families today sadly question the benefits of a college education. To young people, I would say the first disciplined action one can take toward becoming extraordinary is intentionally selecting how, where and with whom to invest their time.

While rankings are an important reflection of our academic and institutional reputation, the one ranking we care about the most is the achievements of our students and graduates. That’s why families are flocking to HPU. They know that 99 percent of our recent graduates were employed or in graduate school within 180 days, and that’s 14 points higher than the national average.

As a God, family, and country school, HPU is also committed to values-based living and learning. We welcome one and all with love and inclusivity. But we do not shy away from proclaiming our faith in God, our appreciation for this nation, and our respect for our students, their families, and all faculty and staff who serve this nearly 100-year-old institution. This may turn some away from HPU, but we attract thousands of families who seek a university atmosphere that continues to instill the values fostered in their own homes.

Our unique and highly relevant educational model is built on the development of premier life skills, values, experiential learning and academic innovation. Parents continually share stories with me about the transformation they’ve experienced in their HPU student. We love that.

With all that HPU has achieved under your leadership, are you able to enjoy the process and take moments to reflect on what has been accomplished?

Early in my career, I occasionally measured my accomplishments through the awards and recognitions I’d receive. I’m grateful for many recognitions in my life, including induction in the Horatio Alger Association of Distinguished Americans, The National Speakers Hall of Fame Cavett Award, and Philanthropist of the Year in my hometown of High Point, North Carolina. But today, I can tell you that what I find most rewarding is the opportunity to positively influence and impact the lives of others, particularly the students of High Point University and their families.

I live by the rule of thirds, which I also teach to all freshmen in my President’s First-Year Seminar on Life Skills: Life is one-third learning, one-third earning, and one-third serving. This helps you achieve not only success, but also significance.

HPU is in a constant state of transformation, so every day is exciting. I’m focused on ensuring that HPU is prepared to serve students and their families for generations to come. I’m focused on ensuring the city of High Point is positioned to thrive as a vibrant and energetic city. I’m focused on planting seeds of greatness in the minds, hearts, and souls of all those I’m blessed to encounter.

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United States, Europe and the Middle East, Asia, Latin America

PURPOSE

Zambia’s Gateway To Global Markets An Interview with Dr. Clever Mpoha, Chief Executive Officer, SAVENDA Group EDITORS’ NOTE Dr. Clever Mpoha, his influential talks installed an one of Zambia’s leading busiintense air of determination to stop nessmen and philanthropists, is the working for others and build someFounder and Group Managing thing for myself. SAVENDA was born Director of SAVENDA. What began when I realized I could be my own as a supply management and logisboss and create something valuable tics fir m in 1997 has expanded while turning daily challenges into into agricultural, construction, opportunities. energy, and transportation sectors S AV E N D A s t a n d s f o r S AV E throughout Zambia and its neighNations, Develop Africa, because it’s boring countries. Through Mpoha’s my hope and mission that my company humble upbringing in a small village, can make a difference not just in the Dr. Clever Mpoha it was there where he learned the lives of Zambians, but contribute principles of social responsibility. to the growth of Africa as a contiHis company actively participates in several nent. I founded my company when our initiatives concerning art and culture, health- local currency, the Kwacha, was down and care funding, education, and women and youth brought a lack of foreign currency to the local empowerment to support the socio-economic economy. I wanted to stand up to the challenge growth of his country and give back to his and leverage my network and international fellow Zambians. Over 20 years later, SAVENDA business opportunities to support the recovery (savendagroup.com) is one of Zambia’s leading of the Zambian economy. When most busicompanies, with an annual revenue of more nesses in Zambia suffered economic difficulthan $500 million, and has achieved lucrative ties, we were eager to concentrate on building partnerships with other enterprises from Asia, sustainable platforms to generate revenues for Europe, and North America. the country’s future and needs that may arise.

For me, it has always been about doing good What was your vision for founding SAVENDA for the people while building a profitable global and how do you define its mission? business where I can proudly say our mission Shortly before I founded SAVENDA, I had is to be the preferred leaders in our chosen traveled to Johannesburg, South Africa, to partic- markets, with a vision towards providing our ipate in a business leadership conference clients with value for money for our array of h e a d l i n e d b y D r. Myles Munroe, where products and services.

Will you discuss SAVENDA’s business activities and areas of focus?

We are a Zambian-born logistics and global supply chain management company that offers end-to-end solutions. At the same time, over the years, we have expanded operations across the agro, telecom, energy, financial, and construction industries.

Recently, we launched SAVENDA transport, such as aviation and bus services, to revolutionize passenger transport throughout the country. We also expanded into telecom and cybersecurity to connect our homes and industries while ensuring companies have access to the best cybersecurity systems. In light of the global energy transformations and to secure its future in Zambia, we launched our energy branch, Gojestic Energy Corporation, which distributes white petroleum products nationwide and constantly invests in expanding energy infrastructure. Concerning agriculture, SAVENDA Farms runs three leading farms, and we are expanding into new plantations and facilities. Continuing our trajectory of sustainability, we also have SAVENDA Electric and Electronics that help save energy and water while boosting local manufacturing capabilities thanks to two state-of-the-art factories in Lusaka. SAVENDA General Insurance has proudly become Zambia’s fastest-growing insurance company.

Among all our industries, I would say our main focus lies within logistics because we’ve

“Nowadays, every global player is investing more and more in sustainability to meet the challenges brought on by climate change – no country is immune.

For example, in Zambia, we’ve been experiencing record drought levels, leading to food and crop shortages. However, we have 60 percent of the region’s fresh water resources, allowing us to gain clean energy by tapping into hydroelectric power generation. In addition, we’ve been investing in green technologies such as selling energy-efficient LED light bulbs.”

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seen first-hand how our ability to facilitate goods and services into the country has allowed Zambia to become a gateway for African nations as a first point of contact with global markets.

What have been the keys to SAVENDA’s strength and leadership in the industries where it operates?

Some of our strengths lie in our ability to see a global point of view towards the future and what matters for the development of not just SAVENDA, but Zambia and Africa as a whole. We are also a product of fantastic risk management, blended with careful risk-taking, a solid plan to manage threats, and a stern determination to succeed no matter what. I’ve never been afraid of taking risks; it’s the only way to build a prosperous enterprise like I have created today.

Concerning logistics, I credit our success to our sensitivity to understanding the commodity supply market, how it plays a central role for millions of Zambians, and the need for a more functional commercial flow among central African nations. We’ve been able to create and put to the test concrete solutions and work with reliable partners concerning, for example, our mining industry and moving copper; we have a procurement process to offer unbeatable solutions that are attractive for international businesses operating in Zambia.

Where do you see the greatest opportunities for growth for SAVENDA as you look to the future?

Nowadays, every global player is investing more and more in sustainability to meet the challenges brought on by climate change – no country is immune. For example, in Zambia, we’ve been experiencing record drought levels, leading to food and crop shortages. However, we have 60 percent of the region’s fresh water resources, allowing us to gain clean energy by tapping into hydroelectric power generation. In addition, we’ve been investing in green technologies such as selling energy-efficient LED light bulbs.

We’ve also been making significant strides concerning information and communications technology (ICT). Recently, SAVENDA has been working with international partners to build cables and fiber optic infrastructure platforms in Lusaka. Our country is a well-positioned logistics hub, and we are also well-suited to be the African leader in the ICT and telecom industries because most networks must pass through Zambia to connect the surrounding region.

Will you highlight the strength and expertise of SAVENDA’s management team and workforce?

SAVENDA employs over 1,000 talented, hardworking employees who work every day to integrate Africa and allow our company and Zambia to serve as an entry to the continent’s booming economy. Our management team has extensive experience working with global companies and specializing in their respective fields; their passion and motivation are trickled down throughout the company. For me, it comes down to relaying the sense of purpose to our employees and reminding them why their job is crucial to keep them satisfied.

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“SAVENDA employs over 1,000 talented, hardworking employees who work every day to integrate Africa and allow our company and Zambia to serve as an entry to the continent’s booming economy.”

What do you see as SAVENDA’s responsibility to be engaged in the communities it serves and to be a force for good in society?

I come from a rural village, and I know the struggles that communities and people can face.

I founded SAVENDA to strongly support empowering Africa and our entrepreneurs to realize the potential of growth for businesses in Zambia and beyond. It’s all in our name – SAVE Nations, Develop Africa. We’ve developed a pan-African approach to nature, a culture of pushing to make a positive impact for ourselves, our country, and our continent. I’m proud to have a company with strong corporate social responsibility values across various sectors, including women and youth empowerment, disaster relief, community infrastructure development, and biodiversity welfare.

Did you always know that you had an entrepreneurial spirit and desire to build your own business?

I come from the Nyika Tribe, where we are known for our “merchandizing culture.” I took lessons from herding cattle and worked in my family’s small shop to learn business practices

and management. My parents instilled in me an entrepreneurial work ethic ever since I can remember, and I have always been eager to be a man of my own destiny. Before SAVENDA, I had a decent job in the financial department of a major industrial supply firm, but it bothered me how someone else decided how much I could earn monthly. I decided to take the plunge, and with just $1,000, I traded Korean-made cell phones and was miraculously able to make a profit. From there, I carefully reinvested my small gains into creating more opportunities.

What interested you in writing a book and what are the keys message you wanted to convey in the book?

I wrote my book to share my story so that others, whether in a small village or metropolis city, can see that with the right mindset, determination, and a bit of business-know-how, you can decide your own future and begin your own company. The book explores the fundamental values necessary to turn a small business into a great success story that I hope will mentor other entrepreneurs or future business owners.

You serve as an advisory board member of the Thembekile Mandela Foundation.

What interested you in becoming involved with the Foundation?

I found myself aligned with their work, as we share a communal vision of developing Africa as one large community. I am very honored to be a member of the Advisory Board. With my experience, I can help guide the Foundation to achieve our goals and extend our reach to the most remote places to ensure all access to education, proper infrastructure, and good quality of life.

You also support many other foundations and charities. What has made philanthropy and giving back so important to you?

I can relate to many of the struggles numerous Africans face today, and now that I am in a position where I can make a concrete difference, I think it’s my duty as a citizen of Zambia and Africa to give back to support access to healthcare, clean water, education, and basic necessities that can make a world of difference. I firmly believe that heavily investing in improving our communities around us and youth initiatives will lead to a more prosperous future.

What advice do you offer to young people beginning their careers?

My mother said to me that in this world, “one must be brave, strong, and resilient.”

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Girls on the Beach | oil on canvas | 31 3/4 x 39 5/8 in.

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Nicola Simbari T H E I TA L I A N PA L E T T E K N I F E M A S T E R

Nicola Simbari (1927-2012) was born in San Lucido, Calabria. At the age of three, his father moved their family to Rome to work as an architect and builder in the Vatican museums. By age seven, Simbari knew and loved the Michelangelo frescoes in the Sistine Chapel. The Sistine frescoes are a monumental blend of architecture and painting and inspired his study of both disciplines during the four years he spent at the Accademia delle Belle Arti in Rome. Simbari excelled in the former to such a degree that he was made a member of the Accademia’s faculty in architecture, although painting was his real interest and soon he relinquished the post to pursue it fully.

Simbari’s first one-man show of paintings was in Rome in 1953. He won an award for best stage design that same year for a musical “Tarantella Napoletana” produced in Rome. In 1954, the Italian state awarded him a gold medal in a national art competition. He had a one-man show in London shortly thereafter and in 1958 won the coveted honor of being commissioned to paint the murals for the Italian Pavilion at the World’s Fair in Brussels.

Simbari gradually developed his own style and technique, which were uniquely his own. He was meticulous and exacting in the choice of materials: he used only the finest canvas and had his colors ground by a family in northern Italy engaged in this work for over three hundred years. He used a brush only to create the background of the painting, which was then completed with his palette knives. Light, dramatic quality and brilliant color combined to produce the style called Simbaresco. He was a figurative artist who explored abstraction, although he remained committed to his great interest in people.

Many important collectors in Europe and America have acquired his paintings and his work forms part of the collection of the Virginia Museum of Fine Arts, the Liberty Company in London, and the Christian Dior Collection in France, among others. Findlay Galleries is proud to have represented the artist during his lifetime and continues to celebrate the Simbari legacy today.

32 EAST 57 TH STREET , 2 ND FLOOR , NEW YORK , NY 10022 • (212) 421 5390

165 WORTH AVENUE , PALM BEACH , FLORIDA 33480 • (561) 655 2090 Copyright © 2024, Wally Findlay Galleries International, Inc. All rights reserved.

PURPOSE

The Future Of Healthcare An Interview with Dr. Yan Katsnelson, Founder and Chief Executive Officer, USA Clinics Group EDITORS’ NOTE Dr. Yan Katsnelson What was your vision for creating a comprehensive end-to-end healthcare operis an entrepreneur, highly skilled USA Clinics and how do you define ating system to enable this work. In many ways, cardiac surgeon, business owner, its mission?

USA Clinics is a software company that delivers and philanthropist. He is the founder We created USA Clinics to be the medical care. and CEO of USA Clinics Group, the go-to outpatient center for innovative Do you feel that there is an effective parent company of USA Fibroid treatments of common diseases. We awareness and understanding of the services Centers, USA Vascular Centers, USA have more than 160 locations in 30 that USA Clinics provides?

Hemorrhoid Centers, USA Prostate states, with 65 percent of the U.S. popuWe believe at USA Clinics that patients are Centers, and USA Oncology Centers. lation within a driving distance to one of in charge of their health, and they need to be Katsnelson has established himself our clinics. We are able to treat multiple educated about the condition they may have and as a strong advocate for accesconditions and believe that we are at the best course of treatment. We focus on a cure sible, affordable, and compasthe forefront of shaping the future of rather than on care – we are looking to cure the Dr. Yan Katsnelson sionate healthcare services. He has healthcare. problem so that people can enjoy a higher quality pioneered expanding minimally How critical has it been to main- of life. We know that education is key, and we invasive options that provide high-quality care tain the highest levels of service and quality do this through traditional media, digital channels, using the latest technology in the most advanced treatment as USA Clinics has grown its size and other platforms to build awareness and underfacilities to the communities that need it most. He and locations? standing for our services. also founded the Chicago Heart Institute, which One of our goals and priorities is to ensure Where do you see growth opportunities was dedicated to the advanced treatments of that any doctor in our organization, whether it is in for USA Clinics? cardiovascular diseases. Katsnelson completed a New York, Boston, Chicago, Los Angeles, or any We have 38 locations in New York City fellowship at the Brigham and Women’s Hospital, other location, provides the same level of care and alone and have a presence in almost 30 states.

Harvard School of Medicine, in Boston. He was seamless service that USA Clinics is known for. In We study the market to understand its needs in a faculty cardiac surgeon at the University of order to ensure this consistency, we rely on data – order to evaluate opportunities and are looking Chicago prior to starting his Cardiovascular every symptom, every finding, every measure- first at highly populated areas before we expand and Thoracic sur gery private practice in ment – and we use this information to make sure into secondary markets. the Chicago Northwest suburbs. Katsnelson was that care treatment options are carefully suggested We are able to grow because of the talent the first U.S. surgeon to perform a double valve based on the data. Twelve years ago, we created and expertise of our team, from our doctors to our replacement using the Biocor™ tissue valve. His a software company, PracticeCompass, to develop personnel at all levels of the organization. clinical areas of expertise included minimally invasive valve surgery, complex aortic operations, re-operative coronary and valve surgery, and beating-heart (off-pump) bypass surgery.

He is published in various medical and scientific journals. His vision of healthcare combines advanced medical and informational technology and creates a unique, data-driven approach that enables individualized treatment planning and achieves consistent outcomes. He developed a comprehensive healthcare management platform to optimize each patient’s experience before, during, and after an appointment with streamlined scheduling, insurance verification, prior authorizations, clinical decision-management support, and treatment process quality assurance. Katsnelson also started the Fibroid Fighters Foundation to advance the cause of women’s health and the safe and effective minimally invasive treatment of uterine fibroids. He is a member of the international Save a Child’s Heart nonprofit organization that provides lifesaving cardiac treatment to children from developing countries. Katsnelson leads the development of ECHO assisted technology that enables USA Clinic in Chicago screening of thousands of children worldwide.

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USA Clinic in Queens, New York

Did you imagine in the early days that USA Clinics would become what it is today?

Neither me nor my wife, Dr. Flora Katsnelson, who helped me to grow the organization from the very beginning, could have ever imagined how USA Clinics has grown since its founding, When we started with a focus on veins, everyone asked me why we would do this since I was a heart surgeon, but a few years later the same people asked me how I knew that our approach was the right one.

It started with veins and then went to fibroids, and is continuing to expand. Our treatments work and provide a consistent cure, and we have an opportunity to help millions of patients. This is the future of medicine.

You mentioned fibroids. Will you elaborate on this work?

Fibroid disease is one of the most common diseases that women face in their lives (and the most common non-cancerous tumor in women).

Eighty percent of Black women and seventy percent of white women by the age of 50 will develop fibroid disease which mostly presents itself with a heavy, painful, and prolonged menstrual cycle.

One out of three patients unfortunately get a hysterectomy, which is absolutely not necessary in the vast majority of benign cases. My wife and I started the Fibroid Fighters Foundation, a nonprofit arm, to build awareness and educate women, especially young women, about this condition so they will stop suffering in silence and will choose a minimally invasive treatment instead of surgery such as a hysterectomy.

What led you to creating USA Longevity Centers and how important is early detection to addressing disease?

In my opinion, 70 percent of deaths are preventable – it is half cancer and half heart disease. If we can diagnose cancer at a very, very VOLUME 47, NUMBER 1

early stage, we can cure it. If we can diagnose heart disease at a very, very early stage, we can treat it and often reverse it before it becomes deadly. With this in mind, I believe that the focus on early diagnosis, especially with CT scans that capture both cancer and vascular problems, is the future.

This also dramatically impacts the cost of care since early detection creates the ability for treatment in an outpatient facility, which is a fraction of the cost of performing surgeries in a hospital setting.

This is why we have created USA Longevity Centers, currently in New York and Chicago, with plans to expand to multiple locations over the next few years.

How special has it been for you to be able to build the business with your wife as your partner?

It has been amazing. My wife is a physician as well, an internal medicine doctor, and

she has a deep passion for helping people. She has been extremely helpful in our expansion to different areas beyond vascular diseases and I have been so blessed to have a partner that has participated in every aspect of the business every step of the way. Hopefully our children, who are both currently in medical school, will join us when ready and continue to grow the organization.

What has made a career in medicine so special for you?

I decided I wanted to pursue medicine when I was 12 years old. My mother was a radiologist at a lung surgery center in Russia, and I was amazed at the way surgeons were able to change people’s lives. When I immigrated to Israel, I was blessed to join a heart surgery program which helped me to achieve my dream. It has been a calling from a very young age.

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USA Clinic in Dallas

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PURPOSE

Creating A Connected World An Interview with Sam Darwish, Chairman and Chief Executive Officer, IHS Towers EDITORS’ NOTE Sam Darwish What was your vision for creating has more than 25 years of expeIHS Towers and how do you define rience in the telecommunications its mission? industry and co-founded IHS I co-founded IHS Towers in 2001 to Towers in 2001. Under his leaderaddress a gap in the telecoms market. ship, IHS Towers has grown from Over time, this evolved and solidia start-up infrastructure company f i e d . To d a y , w e oper ate nearly in Nigeria to one of the leading 40,000 towers across three contiemer ging market communicanents with a combined population of tions infrastructure businesses. approximately 780 million people.

Previously, he served as the Deputy Our mission is to provide our Managing Director of CELIA Motocustomers, predominantly mobile Sam Darwish phone Ltd, Nigeria’s first Global network operators (MNOs), with System for Mobiles (GSM) operthe infrastructur e to enable the ator. He was also the Vice Chair man and widest, most efficient and reliable networks.

Director of Projects at Lintel, an international Our growth story has been underpinned by GSM operator, responsible for global project a vision to create a connected world, where implementation in West Africa and the Middle communication promotes continued economic East. Before that he was the Network Chief growth and social development.

Engineer for Libancell (currently Touch), Will you provide an overview of IHS Lebanon’s first GSM network operator. Addi- Towers’ services and capabilities? tionally, Darwish founded Singularity InvestWe strive to provide best-in-class services ments, a private investment firm with a focus to our customers and respond to their increason technology, media and telecommunica- ingly sophisticated data demands. We capition companies with investments in the United talize on our engineering expertise to help States and the emerging markets. He is also them achieve their connectivity goals via six the Founder and President of DAR Properties, main solutions: colocation and lease amenda property investment company, and DAR ments; new sites; inbuilding solutions known Telecoms, a telecommunications consulting as distributed antenna system (DAS); small cell; company. He was awarded the CNBC Africa fiber connectivity; and rural telephony.

Business Leader of the Year Award for West Africa in 2016 and the TowerXchange Lifetime Achievement Award in 2017 for his founding and continued leadership of IHS Towers. Darwish is a member of the Wilson Center Global Advisory Council and frequent speaker at t e l e c o m m u n i c a t i o n s industry events. He is also a Trustee of the Intrepid Sea, Air & Space Museum. Darwish is a graduate, with distinction, of the American University of Beirut with a bachelor’s of engineering degree in computer communications.

COMPANY BRIEF IHS Towers (ihstowers.com) is one of the largest independent owners, operators and developers of shared communications infrastructure in the world by tower count and is one of the largest independent multinational tower companies solely focused on emerging markets. The company has nearly 40,000 towers across its 11 markets, including Brazil, Cameroon, Colombia, Côte d’Ivoire, Egypt, Kuwait, Nigeria, Peru, Rwanda, South Africa, and Zambia.

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In our largest markets, Nigeria and Brazil, we are increasingly focused on our fiber capabilities. In rural areas, we also continue to expand our rural telephony solutions.

Launched in 2020, our solar-powered radio telephony program uses 100 percent renewable energy to connect rural villages. As of September 30, 2023, we have approximately 600 rural sites in Nigeria and Cameroon.

What have been the keys to IHS Towers’ growth and how do you define the IHS Towers difference?

We have a well-defined organic and inorganic expansion strategy, focusing on emerging, growthoriented markets that have a healthy and robust telecom ecosystem. We seek to grow in our current markets with existing and new customers and enter carefully selected growth-oriented markets with compelling underlying fundamentals.

I believe our competitive advantages are our engineering mindset and local expertise.

Even in our newer markets, such as South Africa, we install in-country management teams with local expertise. Our founder-led status is also key. I started IHS with William Saad and Mohamad Darwish in 2001 and we continue to lead the business today. Mohamad is CEO of our largest market – Nigeria – and William is our COO, and together we share our employees’ passion and drive.

An IHS tower in Gatenga, Rwanda

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An IHS tower in Itu, São Paulo, Brazil

Will you discuss IHS Towers’ commitment to sustainability and how this is a part of IHS Towers’ culture?

Sustainability is one of our five core values and a central tenant to our business approach.

Our business model is inherently sustainable, given we enable infrastructure sharing, but we are also driven by the mantra that better connections means better opportunities. We apply a four-pillar sustainability strategy: Education and economic growth; Environment and climate change; Our people and communities; and Ethics and governance, and in 2022, deployed over $7.5 million on community-focused initiatives. This was 6 percent higher than in 2021 and brought the total spend to more than $22 million since 2017.

How critical is it for IHS Towers to build a diverse and inclusive workforce?

We believe it makes us stronger, more innovative, and better able to deliver for our customers and communities. We operate across 11 countries in three continents and draw on our diverse culture that represents over 55 nationalities. We are an equal opportunity employer, and we strive to create an inclusive working environment for all.

Gender equality is a key focus. I am personally committed to expanding training and leadership opportunities for our female employees. In 2020, we launched our Women in IHS Network (WIIN) mentoring program which currently has more than 170 pairs as part of it. We also continue to increase the number of female employees in management VOLUME 47, NUMBER 1

positions. At the end of 2022, 24 percent of our employees and 25 percent of managers across the Group were female, up from 23 percent and 24 percent, respectively, at the end of 2021. At the Board level, currently more than 30 percent of our directors are female and we hope this encourages our female employees to continue striving upwards.

What do you see as IHS Towers’ responsibility to be engaged in the communities it serves and to be a force for good in society?

We provide our communities with a critical service and operate with two key responsibilities in mind – firstly, through mobile connectivity, we believe we offer significant economic and social value to those communities, and secondly, through our community-focused sustainability strategy. Our local sustainability teams undertake assessments to identify community needs and work to implement projects that positively impact this stakeholder group. Projects range from improving access to education, to helping deliver vital healthcare and protecting the local environment and ecosystems.

What do you feel are the keys to effective leadership and how do you describe your management style?

Passion, commitment, innovation, and integrity are key. I strive to demonstrate these qualities and emulate our core values of customer focus, innovation, integrity, boldness, and sustainability.

As a co-founder, I think I’m more “in the weeds” than some CEOs might be. I am a strong proponent of open, honest dialogue and encourage colleagues to share their opportunities, successes, and challenges. In October, at our annual CEO Conference in Lagos, I chaired an open-floor discussion where I asked colleagues to bring their challenges to IHS’ Executive Committee. Together, we debated logical and tangible solutions and left with outcomeorientated strategies.

Did you always know that you had an entrepreneurial spirit and desire to build your own company?

I trained as an engineer, therefore, my focus was always on fixing and finding a solution. So no, I didn’t set out to be an entrepreneur. I saw an opportunity. In 2001, Nigeria had a population of approximately 150 million people, but only 8,000 mobile phones. Today, it has a population of 221 million and a mobile cellular subscription rate of 95 percent (per 100 people). While I did not anticipate this level of growth, I knew Nigeria had potential.

What’s kept me at the helm is my colleagues – the passion and dedication they demonstrate daily, our collective desire to innovate and our shared ambition of bringing mobile connectivity to even the most remote communities.

IHS Towers has accomplished much since its founding. Are you able to enjoy the process and take moments to reflect on what you have built?

Growing up in Lebanon, I never imagined I would be Chairman and CEO of a company with a Nigerian heritage listed on the New York Stock Exchange.

Over the years, IHS has enjoyed multiple markers of success – from that first tower in 2001 to our expansion into Cameroon and Cote d’Ivoire in 2013, Rwanda and Zambia in 2014, and more recently, our expansion into Kuwait, Latin America and South Africa. However, listing on the NYSE in 2021 has been my greatest moment. To stand on that podium and ring the NYSE opening bell 20 years after I co-founded IHS was momentous. Through the IPO, we raised over $350 million and became one of the largest Africa-related IPOs on U.S. capital markets.

What advice do you offer young people beginning their careers?

Ask questions, be curious and don’t be afraid to take risks. Starting IHS in 2001 was a risk – a risk which ultimately paid off, but not without hard work, persistence, and a willingness to think outside the box. Be prepared for setbacks, failures, and don’t be deterred when these happen. Step back, take a moment to pause, recalibrate and return to the drawing board. Whatever sector your career is in, the need to innovate and think creatively will always be there. Finally, lean on the advice and expertise of others. IHS would not be the success it is today without the colleagues who sit on the Executive Committee and Board, or without the hard work, dedication and commitment of all employees.

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PURPOSE

Improving Children’s Lives An Interview with Alex Amouyel, President and Chief Executive Officer, Newman’s Own Foundation EDITORS’ NOTE Alex Amouyel is Will you discuss the history of the President and CEO of Newman’s Newman’s Own Foundation and Own Foundation, a private granthow you define the Foundation’s making foundation whose mission mission? is to nourish and transform the Newman’s Own Foundation’s lives of children who face advermission is to nourish and transform the sity. She leads the Foundation’s lives of children who face adversity. efforts to utilize 100 percent of the Paul Newman, actor, racecar profits from all Newman’s Own driver, and philanthropist, started products in service of this mission. selling salad dressing in 1982 with Prior to this, Amouyel led MIT Solve as his friend, the writer A. E. Hotchner. its Founding Executive Director They were surprised when they Alex Amouyel with a mission to drive innovamade a profit in their first year, which tion to solve world challenges. She prompted Paul to decree: “Let’s Give It steered MIT Solve’s growth to support over 268 All Away.” And thus, every year they would give Solver teams and Indigenous Communities away any of the profits they had made from Fellows, catalyzed over $60 million in commit- the sale of Newman’s Own products to great ments, and brokered more than 600 transfor- nonprofit organizations. mational partnerships. She also navigated the When Paul Newman passed away in 2008, organization’s response to the global pandemic, he gifted the food company and his name and launched a Health Security & Pandemics Chal- likeness to the Foundation, so today, we’re not lenge, and expanded Solve’s work on racial a corporate foundation in the traditional sense, equity in the United States, including launching we are a foundation that owns a food company, Solve’s Indigenous Communities Fellowship and 100 percent of the profits and royalties from and the Black & Brown Innovators Program. the sale of Newman’s Own products go to the Prior to these roles, Amouyel was the Director of Foundation in service of our mission.

Program for the Clinton Global Initiative and also worked for Save the Children International and the Boston Consulting Group. Amouyel is a sought-after speaker and thought leader in philanthropy, impact investing, and social entrepreneurship. She earned a duel master’s degree in International Affairs from Sciences Po, Paris, and the London School of Economics, along with a bachelor’s degree in Biochemistry and Natural Sciences from Trinity College, Cambridge, U.K. Amouyel is the author of The Answer Is You: A Guidebook to Creating a Life Full of Impact.

FOUNDATION BRIEF The Newman’s Own brand (newmansown.com) was established

by Paul Newman in 1982 with a single salad dressing. Today it offers great tasting, high quality food and beverage products for people and pets. These products include salad dressings, pasta sauces, frozen pizza, salsa, refrigerated drinks, and cookies, as well as dog food and pet treats. Newman’s Own Foundation (newmansown.org) continues Paul Newman’s commitment to donate all royalties and profits that it receives from the sale of Newman’s Own food products. Over $600 million has been donated to good causes since 1982.

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What excited you about the opportunity to lead Newman’s Own Foundation and made you feel it was the right fit?

Before I ever knew there was a job available, I wrote about Newman’s Own Foundation’s incredible philanthropic and business model in my book, The Answer is You: A Guidebook to Creating a Life Full of Impact. In general, I am dubious about cause marketing or the idea that buying more stuff, e.g., a t-shirt or a pair of shoes, is how you can help do good for people and the world. I contrasted that with Newman’s Own Foundation, given it’s not 1 percent or 10 percent profits, or a buy-one-giveone model, but 100 percent profits to the Foundation, which is pretty unique.

That model was incredibly innovative 40 years ago, and it’s still incredibly innovative today – whether you look at it from the corporate innovation/business model lens or the philanthropic/social impact lens. We’re not reliant on an endowment, a rich donor, or the constant stress of fundraising. The Foundation owns a company that sells good food, and any profits and royalties come back to us – our donors in that sense are the consumers – they are the philanthropists.

Paul Newman at The Hole in the Wall Gang Camp in 1990

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Hawaii to Maine on the funds as best they decide in service of their community-based solu- project. tions and movementHow critical are metrics to measure b u i l d i n g i n i t i a tives the impact of Newman’s Own Foundation’s that can support nour- initiatives? ishing and just futures How can we have the most impact, using for these kids. Take the resources that we have, in service of our Oyate Teca Project, mission? That’s probably the key animating b a s e d o n t h e P i n e question I have as President and CEO of the Ridge Indian Reserva- Foundation. There are several sub-questions tion in South Dakota. that derive from that overarching question, and C o n n e c t i n g y o u t h one of the most important ones is: How do we with the growing and measure the impact of our work and our grants harvesting of Native over time so that we can learn and be most f o o d s h e l p s t h e m effective with the use of our resources? engage more deeply To help us answer this question with our with o t h e r p a r t s o f grantee partners, we have just hired our first Harlem Grown brings farm-based education to an urban setting their culture – recon- Monitoring, Evaluation, and Learning Officer.

What made Newman’s Own Founda- necting them with their roots, so to speak. Or They will design and oversee a process that tion the right fit for me was the overlap of Harlem Grown, where children from an urban allows our grantee partners and us to learn two key things. First, the mission and inno- setting are introduced to sustainable growing more about our shared impact and how we vative approach aligned really well with my practices and farm-based education. These can be most effective over time in service of life’s mission and my values, i.e., what I want experiences put kids on a path to personal our mission. Too often, foundation processes to contribute to the world, which is all about and emotional growth and greater success in tend to be top-down and metrics driven, and I equality of opportunity. Second, I thought school and in life. am certainly not in the business of wanting to it aligned really well with my unique set of Our Joyful Experiences portfolio relates create a lot of distracting work for our grantee superpowers, i.e., what I could uniquely to our longest standing and largest partner- partners by asking them to send us pages and contribute would be needed, appreciated, and ship, with SeriousFun Children’s Network, pages of quarterly reports. Metrics are imporcomplementary to other team members’ super- a network of 30 camps and programs in the tant, but certainly only one facet of a broader powers. When you get that intersection right, U.S. and around the world, that provides Monitoring, Evaluation, and Learning process, of aligning to your mission and to your super- enriching experiences to children living and my hope is that our new staff member will powers, you are living your purpose. I can tell with serious illnesses and their families, work side by side with our grantee partners to you there is no better thing to do with your always free of charge. Founded by Paul help them succeed and learn. That, in turn, is waking hours, when you have the privilege of Newman, the first camp opened its doors in how we as a foundation succeed and learn. having that choice available to you.

1988 in Ashford, Connecticut, and is named Will you highlight the talent and experWill you pr ovide an overview of The Hole in the Wall Gang Camp, a nod tise of the Newman’s Own Foundation team?

Newman’s Own Foundation’s work and the to Newman’s film, Butch Cassidy and the We ’ r e a s m a l l t e a m – f o u r u n t i l guiding principles of the Foundation?

Sundance Kid. recently, including myself, and we have As mentioned before, Newman’s Own Regarding our guiding principles, there just recruited three new staff members, Foundation’s mission is to nourish and transform are three to note. First is our desire to co-create which is very exciting. Two of our staff the lives of children who face adversity. We’re a change. We don’t swoop in with money and members, Samantha and Kathy, have been private grantmaking foundation, which is to say answers; rather, we work together with organiza- working at Newman’s Own Foundation for 14 that most of our work is to identify, fund, and tions that are proximate to the communities they and 13 years, respectively, and thus are an support nonprofit organizations and tribes that work with, to build trust and support sustain- incredible source of institutional and operational are doing the hard work in their communities in ability. We meet them where they are, identifying knowledge and skills. The three newest service of this mission. We give grants to orga- strengths and needs, and giving them space to team members have incredible and complenizations almost exclusively in the U.S., as that’s develop or scale up. Second, we fund orga- mentary skills and experience to our existing where Newman’s Own sells most of itsproducts, nizations at different levels of development. In team members and me, whether that is bringing with a few grants made to nonprofit organiza- addition to our larger tions in the U.K., Australia, and New Zealand, investments, such as where products are also sold. with SeriousFun and We have three main program areas (and FoodCorps, we seek thus three portfolios of grantee partners we smaller nonprofits that support to realize this mission): Nutritious Food take a more innovain Schools, Indigenous Food Justice, and Joyful tive and entrepreneurial Experiences for Seriously Ill Children. approach to problemAn estimated 9 million children in the U.S. solving. Small grants go to school and/or to bed hungry, which is can have an outsized a deep injustice. Without nutritious food, impact for these organithese children struggle to learn and focus in zations as they develop school, and they are at higher risk for behavioral leadership and capacity issues, lower socio-emotional development, i n p r e p a r a t i o n f o r and preparedness to enter the workforce. scaling up impact. And That’s one in eight children in the U.S., and for third, we fund flexibly.

Native American children, that figure increases Almost all our grants to one in four. Through our Nutritious Food are for general operin Schools and our Indigenous Food Justice ating support, giving portfolios, we support incredible nonprofit our grantee partners SeriousFun Children’s Network provides joyful experiences for children with serious illness o r g a n i z a t i o n s a n d tribes working from the flexibility to use VOLUME 47, NUMBER 1

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Oyate Teca Project connects Indigenous youth with traditional foods and culture

in Monitoring, Evaluation, and Learning expertise, or decades of lived and work experience with Indigenous communities for our Indigenous Food Justice work.

What do you see as the keys to effective leadership and how do you describe your management style?

First, let me say that I see leadership as a lifelong journey of discovery: of yourself, of your team and key stakeholders, of the communities you operate in, and of the world. Thankfully, what I know now about leadership has evolved greatly over the course of the last 20 years and will hopefully continue to evolve greatly over the next 10 years.

Looking back now, my three biggest learnings these last few years in regards to leadership would be the following: First, start with asking the right critical animating questions, especially the “why” and “how” questions. Many people get very busy at work and in life, with the “what” and the set of tasks and activities that align to that. In particular, if you and your team are not clear on the “why,” it’s very dangerous – you waste time, you might in fact have people or projects that go against your objectives, and more. The “how” questions are also very useful, I find, because they allow for evolution and iteration, and in this day and age, it’s critical to continually be open to that. In one organization I worked for, we still sent not only written letters, but also faxes, and that was in the 2010s.

Second, expand what we mean when we say, “effective leadership.” Getting a group of tasks done in record time could be one definition, especially when you only consider the short term. Getting a group of key stakeholders 62 LEADERS

aligned to move along a project together that has a buy-in and longer-term lasting power is already better. Consider that for people and work to really change, grow, and transform, on your team, in your organization, or in the world, effective leadership should also mean inclusive, compassionate, fair, participatory, relational, mutual, and more. That’s not to say that we can abrogate all hierarchies and power dynamics, or that everyone can or should have a say in all decisions – I once heard a CEO of a blockchain company say that no one at his company was in charge because the organization structure was organized as a blockchain, and I don’t think the world is quite there yet – nor was his company, it seems. But how do your team and your community grow and transform? What do you leave behind if and when you leave a job?

Are a bunch of awards and titles and a wellorganized database really what you want to be remembered for?

Finally, the biggest transformation you can take the lead on is always: yourself. I often go back to this quote from the Persian poet Rumi, “Yesterday I was clever, so I wanted to change the world. Today I am wise, so I am changing myself.” More recently, my friend Kevin J. Adler, who will get a kick out of this as I am including him next to Rumi, talks about taking the time to get a PhD in yourself. Lifelong discovery, selfreflection, and resilience are the starting point for, and many would even say the destination, in living a life of purpose, and then, by extension, of effective leadership.

Did you always know you had a passion for this type of work and what makes the work so special for you?

At age 10, I wanted to be a prosecutor, although I had not yet encountered discussions on restorative justice, so it was perhaps more based on too many episodes of Law & Order, dubbed in French. At age 12, I wanted to be a scientific researcher to rid the world of cancer, an ambition that carried me to university. So yes, I always had a passion for doing good in the world in some capacity, which I attribute to both my privilege – being born in a place and a time where I, unlike many others, have the choice with what I do with my waking hours – and my heritage – being the daughter and granddaughter of refugees who at some point lost much of what they had, except their education.

I did not have the temperament for pipetting small quantities of liquid and waiting for gels to run. It was critical work but not aligned to my superpowers, so scientific research was not quite for me. Luckily, I realized that early enough and went on to do a master’s in international affairs. I then joined the Boston Consulting Group to learn some business, strategic, and project management skills, and then Save the Children to apply these skills to social impact, something I have been doing ever since in numerous iterations. Steve Jobs, in his seminal commencement address at Stanford in 2005, said, “You can’t connect the dots looking forward. You can only connect them looking backward.” I felt that way when I took the job

at Save the Children and also when I took the jobs at the Clinton Global Initiative, MIT Solve, and Newman’s Own Foundation.

What makes the work so special today is that I get to work on big important problems affecting millions of underserved children and that I feel I can bring my set of unique superpowers to help, alongside great team members who each bring their own unique superpowers to complement mine. As I said earlier, there’s nothing better than being able to live your purpose, if you have that choice.

With all that Newman’s Own Foundation has accomplished, how important is it to take moments to celebrate the wins?

We could probably do better at celebrating and advertising the wins. When I tell people that the Foundation owns the food company, not the reverse, and that 100 percent of profits from the sale of Newman’s Own products go to the Foundation in service of our mission, I often get: “Oh wow, you should tell people about that.” We do put it on every bottle and package, but we’re admittedly not shouting it on rooftops the way some people with way bigger marketing budgets do when they give away 1 percent – or often less – of their profits.

In social impact, it can be hard to celebrate the wins when there are still 9 million children going to school hungry every day in the U.S., but I do think that when we do, we show that things can change, starting at the individual, family, or community level, and that there are ways to transform the status quo and build new futures for children facing adversity.

Briefly, a few of the wins we celebrate include: • The positive momentum on free universal school meals, including our partner FoodCorps reaching 350,000 students each year in 16 states and Washington, DC, and working towards an ambitious goal of nourishing food in schools for every child by 2030; and also including great work being done by Food Resource & Action Center (FRAC), National Farm to School Network, and in New York City, Wellness in the Schools, alongside many more; • Our ongoing partnership with SeriousFun Children’s Network, which has led to consistent development and growth of the network and its member camps and programs; • The great work being done in support of Indigenous food justice, passing down to children Indigenous wisdom, culture, and innovation that can also serve to help all of us use our land more sustainably and feed our children; and • The passage of the Philanthropic Enterprise Act in 2018, giving nonprofits – under limited circumstances – the ability to own forprofit businesses.

There is still so much to be done to combat the injustices and adversities facing kids in the United States, but when I meet our incredible grantee partners and hear about the impactful work they are doing, I know we’re on the right track. I invite everyone – whether they are a philanthropist, a corporate leader, an impact investor, or a committed citizen and human – to join us and our grantee partners to do what they can.

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VOLUME 47, NUMBER 1

NEW SUMMITS Ascending to new heights with New York’s most transformative buildings.

SLGREEN.COM COMMERCIAL | RESIDENTIAL | RETAIL | FINANCE

PURPOSE

A Single Fintech Ecosystem An Interview with Timur Turlov, Founder, Chairman, and Chief Executive Officer, Freedom Holding Corp.

EDITORS’ NOTE Timur Turlov the Nasdaq Stock Exchange. Freedom graduated from the K.E. Tsiolkovsky Holding Corp. is headquartered in Russian State Technological UniverAlmaty, Kazakhstan, and has a presence sity in 2009 with a BS degree in through its subsidiaries in 16 countries, economics and management. He has including Kazakhstan, Cyprus, Uzbekiserved as the Chief Executive Officer stan, Azerbaijan, and the United States, and Chairman of the Board of Direcamong others. tors of Freedom Holding Corp. since November 2015, and holds a manageWhat was your vision for founding ment certificate in stock exchange Freedom Holding Corp. and how operations and securities broker and do you define its mission? dealer management granted by the When we were establishing the Timur Turlov Russian National Securities Market new company, we didn’t really think that Association. He has over a decade of it would evolve into a diversified interexperience in various areas in the international national financial services organization. Back securities industry. Additionally, he served as the then, we wanted to run a relatively small busiChairman of the Board of Directors of JSC Nomad ness focused on rendering services to a limited Finance, where he oversaw the business setup and circle of clients and providing them with access to acquisition of large clients and was also responsible the American market. Fifteen years later, Freedom for the strategic management, public and investor Holding Corp. has now grown to a substantial relations events, investment and sales strategy, and operation with a variety of financial subsidiaries government relations of the organization. In 2017, and divisions, and a team of thousands of talented Turlov became Chairman of the Board of Direc- professionals. tors of Freedom Finance JSC (Almaty, Kazakhstan) Two years ago, we decided to explore busiand currently he is a member of Young Presidents nesses outside of finance and expanded our presOrganization (YPO) Kazakhstan, which unites ence in the insurance and consumer services young businessmen and top managers from all segments. We are going to continue developing a over the world. Turlov is also the President of the robust and deeply integrated fintech ecosystem that Kazakhstan Chess Federation, President of the combines various banking and telecommunicaKazakhstan Football Federation, and a partic- tions products and is effectively controlled with ipant of the IQanat educational project. He also the help of big data. Currently, we are focusing on serves on the board of directors as chairman or scaling the company up, which helps us to gain board member of several insurance companies, an synergy and significantly increases our client base.

Eastern European retail bank, and a cellular telco Our goal is to create conditions where every client organization. In total, the Freedom enterprise of will be able to obtain any service in a one-stop companies that he oversees serves millions of people shop environment, saving money and time. In in 16 countries. addition, Freedom is expanding geographically with significant growth primarily in Europe. I am COMPANY BRIEF Freedom Holding Corp. (freedomholdingcorp.com), a Nevada corporation, is a financial services holding company conducting retail securities brokerage, investment research, investment counseling, securities trading, investment banking and underwriting services, mortgages, insurance, and consumer banking through its subsidiaries, operating under the name Freedom Finance in Europe and Central Asia. Through its subsidiaries, Freedom Holding Corp. employs more than 2,900 people and is a professional participant in the Kazakhstan Stock Exchange, the Astana International Exchange, the Republican Stock Exchange of Tashkent, and the Uzbek Republican Currency Exchange, and is a member of the New York Stock Exchange and

confident that our expertise and products can be deployed and expanded in many other countries.

Will you provide an overview of Freedom Holding Corp.’s business?

Freedom runs businesses in different economic segments in 16 countries all over the world. The company’s core business is the Freedom fintech ecosystem in Kazakhstan, which includes a bank (Freedom Bank), two insurance companies (Freedom Life and Freedom Insurance), two brokerage companies (Freedom Finance Global and Freedom Broker), online ticket services (Ticketon, Aviata, and Choco Travel), a payment system (Freedom Pay), and a telecommunication operator (Freedom Telecom), the newest element within the ecosystem. Ninety percent of the company’s revenue is generated in the company’s home market of Kazakhstan, a very digitally forward nation with a young, tech-enabled population.

In the U.S., the company runs Freedom Capital Markets, a fully licensed investment bank that provides a full array of capital markets advisory and capital formation services, and in Europe we have Freedom Finance Europe, a brokerage company registered in Cyprus which renders services to customers all over the European Union.

We also run branch offices in Uzbekistan, Kyrgyzstan, and Armenia and we expect to enter different markets across the Middle East and Central Asia in the not too distant future.

The unique feature of all subsidiaries of the company is the high level of digitalization and the ability to understand our customers thanks to the analysis of big data. As a result, our costs associated with attracting new clients and supporting existing customers have dropped significantly. Currently, our suite of Freedom fintech ecosystem services are consumed by approximately 7 million customers.

“Currently, our suite of Freedom fintech ecosystem services are consumed by approximately 7 million customers.”

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“If all you want to do is remain in a comfort zone, you’ll never reach success in business.

Freedom is a perfect example of the fruit of some of the challenging risk decisions we needed to make in order to succeed.”

What have been the keys to the company’s g r o w t h a n d h o w d o y o u describe the Freedom Holding Corp. difference?

I would say that it is a combination of the following factors: a team of talented professionals, developed infrastructure, and unique products. Our hallmark is the 100 percent digitalization of our products in Kazakhstan. As an example, Freedom Bank was the first bank in Kazakhstan – and potentially in the entire world – to offer its customers the opportunity to apply for and obtain mortgage and car loans online with no need to visit the Bank’s offices in person. Additionally, we managed to cut the average mortgage loan cost-to-consumer to $220 – a highly remarkable achievement when compared to average mortgage loan consumer costs of $10,600 in the U.S. – almost 50 times more than is spent in Kazakhstan for mortgage loan application and funding fees. This year we also introduced the same principle in the segment of online business loans.

Our property and casualty insurance group, Freedom Insurance, has recently launched the DTP.kz website that allows customers to obtain insurance compensation benefits for road accidents online. Thanks to this service, the waiting period for benefits payments has been reduced from 90 business days to 5. To achieve this, our insurance business actively cooperates with state databases and, as a result, the speed of interactions with a client is astonishing.

Our Freedom Broker group is the biggest stock brokerage company in Kazakhstan rendering services to more than 220,000 retail investors. In addition, Freedom is considered a key consultant for corporate clients facilitating the offering of their bonds and stocks in the local stock exchange market.

Since 2020, we have also been developing our international brokerage, Freedom Finance Global. More than 120,000 clients of the company are engaged in trading on the world’s largest stock exchanges such as the NYSE, Nasdaq, and the LSE, and these clients can also take part in IPOs in the American market.

Both our brokerages and partners rely on our unique trading platform, Tradernet, in their day-to-day work. This is a highly sophisticated trading hub that can implement very complicated tasks and is constantly improving. Tradernet combines 15 brokerage offices and more than 600,000 customers.

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In December 2023, we launched our new investment product: a five-year bond with a yield rate of 12 percent per annum (in USD) within the first two years of circulation and coupon payment each month. The minimum threshold is $1,000.

A unique feature of the issuing is that Freedom Holding Corp. provides guarantees for the principal debt and interest paid.

In addition, we are providing our customers with direct access to the U.S. market, including the most promising IPOs. We do so via our wholly owned U.S. broker subsidiary, Prime Executions, a member of NYSE, Nasdaq, FINRA, and SIPC. All of the above represent our technology-based solutions. We know how to scale them up and expand in new markets.

Freedom Capital Markets, our subsidiary in the U.S., is actively engaged in organizing IPOs and secondary offerings. Over the past 18 months, we have placed shares of Intensity Therapeutics (INTS) and VolitionRx Limited (VNRX), bio-tech startups; Beam Global (BEEM), a clean technology provider; Contango ORE (CTGO), a mining company; and DayDayCook (DDC), a food company. These companies have raised several tens of millions of dollars combined, and while not a significant sum when discussing U.S. markets, its thanks to these offerings that our investment bank has been able to garner a foothold in this market, providing us and our clients a stepping stone for bigger offerings in the future.

Will you discuss the strength of the Freedom Holding Corp. team and how important it has been to continue to build the team?

Despite the high level of automatization, people are still the core element of our business.

More than half of our employees are client advisors who work directly with customers. Our team is our main asset. Even more important perhaps than our capital and technology resources, because, at the end of the day, the success of our advanced technologies and our fundraising activities relies on the interpersonal engagement of our team with each other and with our customers.

Did you always know that you had an entrepreneurial spirit and desire to build your own business?

When I was a kid, my dream was simple: I wanted to make money. I never thought about being super rich. I just wanted to make a good living and take care of my family. With that said, I learned quickly that any successful entrepreneur must be ready to take risks. Those who

demonstrate a low appetite for risk lose good opportunities. Evaluating the risk/reward equation is always a challenge, but when approached thoughtfully and logically, it is worth the effort. If all you want to do is remain in a comfort zone, you’ll never reach success in business. Freedom is a perfect example of the fruit of some of the challenging risk decisions we needed to make in order to succeed.

What do you see as the keys to effective leadership and how do you describe your management style?

If someone wants to be an effective leader, they must establish and foster continued trust among their team members, empowering them to pursue a certain level of freedom within the organization. This is very important for us. Alternatively, there won’t be the support required to take risk and generate sustainable growth of a company. Removing barriers to advancement and working together in a true spirit of collaboration is the only way to keep a company operating highly effectively.

You give your time and resources to support many causes. Where did your interest in philanthropy develop and how do you decide where to focus your efforts?

For us, it’s always been about supporting the advancement of our fellow countrymen. Kazakhstan reports a high birthrate and the average age of the population has been decreasing over the past years. Young people, full of energy, are becoming the key resource of our nation and that is why it is so important to facilitate ongoing positive interactions within our society. As a leading corporate citizen in our country, we understand the need to keep social elevators working to help younger generations to realize their potential, which in turn helps our country establish its place as a contributing global citizen for the good of all mankind.

The expense of this type of strategy is always justified and we have a crystal clear understanding that what we invest towards sustainable development and economic prosperity today is the right choice for a better future – not only in Kazakhstan, but around the world.

What advice do you offer to young people beginning their careers?

Stay curious and invest in yourself. Pursue new knowledge, seek more information and answers to all the questions you have and pay attention to this process from the very bottom of your heart. The goal of success isn’t as hard these days as it was 15 years ago, but things are advancing rapidly and you have to constantly improve yourself and stay tuned.

With all that Freedom Holding Corp. has accomplished, are you able to enjoy the process and take moments to celebrate the wins?

I like what I do. This is the world where I want to be and I relish working to improve myself all the time – trying to be “better.” Over the past several years, Freedom Holding Corp. has become a healthy and stronger company, which gives me great pleasure. Having said this, we constantly deal with unique challenges and while there is no universal formula for solving all problems, each time we do we become stronger, more transparent, and integrated within our single fintech ecosystem. We become “better,” and I really enjoy that.

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My name is Onil.

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NATIONAL LEADER IN TRANSPLANT

PURPOSE

Change Equals Opportunity An Interview with James W. Keyes

James W. Keyes

EDITORS’ NOTE James Keyes is a global business leader, philanthropist, educator, artist, musician, commercial pilot, and modern renaissance man.

He is the former CEO of two internationally recognized Fortune 500 companies, 7-Eleven, Inc. and Blockbuster, Inc. His other business interests cover a broad range of industries from retail, consumer products, technology, healthcare, cyber security, new space, energy, and advanced nuclear. He sits on several public company boards and serves as a board adviser to a venture capital firm and a number of start-up companies. Keyes’ philanthropic initiatives have an equally broad focus, including serving a three-term seat on the Board of Governors for the American Red Cross, acting as the former Chairman of the Dallas Symphony Orchestra, and serving on the board of directors for institutions such as UT Southwestern Medical School, Cooper Institute, St. Jude Children’s Research Hospital, Dallas Performing Arts Center, SMU Cox School of Business, Columbia Business School, and his alma mater, College of the Holy Cross. He has had a lifelong commitment to education, serving as a founding director of the Dallas Education Foundation, and is the founder of the Education Is Freedom Foundation. He was inducted in 2005 as a Member of the Horatio Alger Association of Distinguished Americans.

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Will you discuss your career journey?

The one distinguishing factor in my career has also become a personal “brand” of corporate leadership – the idea that “Change equals opportunity.” Growing up in a hardworking family, where college wasn’t an option, I found that education and learning were the pathway to opportunity. My early years were riddled with changes, many catastrophic, that gave me a strong sense of independence and self-determination. I learned at an early age that my future was in my own hands. Setting out on a path to become a lawyer, the intervention of a professor in college encouraged me to pursue a JD/MBA degree at Columbia University. A summer internship at Gulf Oil Corporation provided an opportunity for full-time employment and caused me to finish the MBA first, then accepting a role in the Corporate Planning Group of Gulf, working M&A analysis for their CFO. When Gulf merged with Chevron in the 1980s, another door opened to join Citgo Petroleum, a newly acquired division of The Southland Corporation (parent company of 7-Eleven).

At The Southland Corporation, I led a turnaround of the new Citgo Petroleum division and a roll-out of the Citgo brand across all 7-Eleven stores. My career was on a strong trajectory when Southland completed a leveraged buyout, taking on $4 billion of (junk bonds) debt at 17 percent interest. By 1991, the company was in Chapter 11. Once again, “Change equals opportunity,” and the success of leadership in gasoline operations led to a role as head of strategic planning to help the company emerge from

bankruptcy. Execution of a successful turnaround plan upon emergence from bankruptcy led to my appointment as Chief Financial Officer at the new company, now named 7-Eleven, Inc. The successful turnaround of 7-Eleven was due to one fundamental change, instilling a culture of “change” within the company that caused us to completely reinvent the product assortment at 7-Eleven, bringing new levels of convenience to our customers. This transformation led to 40 quarters of improved same store sales and a dramatic improvement in earnings for the company over the 10 years postbankruptcy. During my tenure as CEO of the company (2000-2005), we enjoyed a 10x increase in shareholder value leading to the sale of the company to Ito-Yokado, our Japanese licensee, at the end of 2005.

The successful transformation of 7-Eleven caused me to look for similar companies who could benefit from the use of technology and access to data to accelerate their evolution.

Blockbuster was a natural choice. The transition to digital streaming video was inevitable, but simply a matter of time and execution of the plan.

I joined Blockbuster in 2007 with the support of lead director, Carl Icahn, armed with a transformation plan that would use the physical stores as a platform to facilitate the eventual evolution of customers from physical to digital access to media entertainment. My first move was the acquisition of a company called Movielink. Movielink had been created by six major studios (Viacom, Warner, Sony, etc.) to build

“The one distinguishing factor in my career has also become a personal ‘brand’ of corporate leadership – the idea that ‘Change equals opportunity.’ Growing up in a hardworking family, where college wasn’t an option, I found that education and learning were the pathway to opportunity.”

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“Today, when speaking to underprivileged youth, I try to impart this knowledge that adversity can be a strength and that it isn’t the adversity, but rather our response to that adversity, that counts.”

a platform that would consolidate digital rights and streaming access with a one-stop shop. The studios saw Blockbuster as the preferred partner for this digital transition. We then had a program called “total access,” offering DVD’s in-store, via mail, via kiosk, and online, basically providing customers with the most convenient access to media entertainment. We were very well positioned to compete with Netflix’s very limited movie availability and selection.

Our Achilles heel was the balance sheet.

Following the relaunch of Blockbuster as a public IPO in 1999, the company was carrying over $1 billion of debt. One third of this debt, over $300 million, was due to be repaid in 2009.

Anticipating the need to refinance this debt, our plan was well underway. By the end of 2008, we had positioned the company for streaming capability, reduced costs, improved store performance and nearly doubled EBITDA. Moody’s granted a two notch upgrade in our debt rating that would pave the way to a refinancing, but in the same press release they announced that we “could” be a liquidity risk because of the recent collapse of Lehman and the distressed financial markets. This announcement, unfortunately, created an inevitable decline in our equity value and a panic among our creditors which ultimately forced the company into a Chapter 11 restructuring. During these challenging times, however, I had been lining up strategic partners including Google and Dish Networks. Dish would ultimately prevail in the purchase and restructuring of the company. Netflix did not crush Blockbuster, the balance sheet did. All of this created significant learnings in the importance of managing and responding to change.

I adopted a quote from Nelson Mandela – “I never lose, I win or I learn”. Blockbuster was, indeed, a learning experience.

How did your early years growing up in poverty in Massachusetts impact your career?

At an early age, I learned that adversity made me stronger. Growing up with a broken family and economic hardship gave me a sense of independence and self-sufficiency that I didn’t see among my peers. I knew that no one would take care of me if I didn’t take care of myself, so I set out to gain all of the skills needed to survive. In school, this became a drive for VOLUME 47, NUMBER 1

academic success that would fuel opportunity and open doors. I discovered that the harder I worked, the more success I could enjoy and the more opportunity would be presented. Today, when speaking to underprivileged youth, I try to impart this knowledge that adversity can be a strength and that it isn’t the adversity, but rather our response to that adversity, that counts.

Will you elaborate on your experience leading two iconic brands, 7-Eleven, Inc. and Blockbuster, Inc., and your views on the need for companies to continue to innovate and adapt to survive?

Every corporation, just like people, have a life cycle. They have a period of incubation, they grow, they mature and then they experience a period of decline and possibly death. In the case of humans, the death part is inevitable, but in the case of corporations, the life cycle can be extended indefinitely if the company is able to reinvent itself by responding to change.

Adaption to change is the lifeblood of any corporation and the prerequisite for it to extend its life cycle to remain relevant to its customers.

7-Eleven found itself in exactly this situation. In 1991, the company filed for Chapter 11 bankruptcy protection. In my new book, Education Is Freedom, I tell the story of meeting with the Chairman and learning that the company had faced this earlier in its life cycle. 7-Eleven started its corporate journey as an icehouse, selling large blocks of ice until they faced the

challenge of new technology in the form of a refrigerator, threatening their ice sale business. The company pivoted and recognized that it wasn’t in the business of selling ice, but instead was in the business of selling convenience. Ice had simply been a convenience item. They began to look at other convenience items and today’s convenience store was born. In 1991, we had stopped being relevant to convenience customers. We sold beer, soft drinks, and cigarettes, but so did others.

My mission, the Chairman told me, was to find things that people needed conveniently in the 1990s and beyond, and that if I was able to do so, then then company would survive. Indeed it did. We created a pipeline of new products that continues today in over 80,000 locations worldwide. The company today is always searching for new convenience items to delight the customer and remain relevant.

In the case of Blockbuster, we faced a similar change. New technology in the form of streaming video was going to displace DVD rentals. The company had already demonstrated the ability to pivot to new technology when it changed from VHS rentals to the new format, DVD. My first step when joining the company was to acquire a streaming video company that had been created by the major movie studios to enable digital streaming. The company was called Movielink. We acquired the company in 2007 and changed the name to Blockbuster on Demand. Unlike Netflix, we were able to offer a wide variety of new release movies as well as older movie favorites. It was not technology that killed Blockbuster, but instead it was the economic upheaval of 2008 that caused the company problems. Blockbuster had $1 billion of debt with one third due in 2009. In spite of our progress in doubling earnings and adapting to streaming video in 2008, the collapse of Lehman Brothers in 2008 caused a banking crisis that made it impossible for Blockbuster to refinance its debt. As a result, we were forced to take the company through a Chapter 11 restructuring. Still, we were able to salvage the company through a sale to Dish networks who still own the Blockbuster brand and may, yet one day, bring the brand back for a better streaming video opportunity.

“…in the case of corporations, the life cycle can be extended indefinitely if the company is able to reinvent itself by responding to change. Adaption to change is the lifeblood of any corporation and the prerequisite for it to extend its life cycle to remain relevant to its customers.”

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What interested you in writing the book, Education Is Freedom, and what are the key messages you wanted to convey in the book?

I have always been inspired by the ability to help others find their path to success. The book was intended to provide a road map for young people to see education and continued learning as an enabler of opportunity. I have a broader mission for the book as it relates to humanity at large. I believe the future of democracy relies heavily on an educated citizenry. In these days of increasing polarization,

we have forgotten some of the basic principles of learning such as responding to change and confident, critical thinking. Instead, we often take news or absorb information at face value without striving for true understanding. As a result, fear can take the place of confidence, anger can take the place of understanding, and violence can threaten our peace. Much of our anguish today is based in fear. The news is filled with fear. Our politics are driven by fear. When we were children and were afraid of the dark, our parents turned on the light to help us see that there was no monster under the bed.

Knowledge is the same as turning on that light, helping us recognize that there is really nothing to fear, no reason to hate, no purpose for violence. This is why I ask the rhetorical question, “where does humanity go to school?”

Well, the answer is in our hands. It is up to each of us to embrace the transformational power of learning, both individually and as part of humanity.

What do you see as the keys to effective leadership?

Leadership is about adaptation to change. Without change, why would we need anyone to lead? We would all be comfortable with the status quo and leadership would be unnecessary. It is change that causes us to look for direction, hence to seek out leadership. It is the leader who steps up to collect as much information as possible to make an informed decision about the necessary response to change, and to take the group in the most responsible direction. For this reason, I’ve coined the expression “Change Equals Opportunity” or CEO. This is, indeed, the role of a chief executive – to use whatever resources available to anticipate change, to leverage the collective knowledge of the group to craft a response to that change, and then to execute a plan to insure the most favorable outcome.

What are your views on the role that leading corporations have to be good corporate citizens and engaged in the communities they serve?

I believe that there is no difference between increasing shareholder value and social good, and that both can be complementary. I also believe in the power of leadership to do more than increase shareholder value, but also to increase the value of the enterprise within its respective community. Most companies are made up of people and those individuals want to have pride in their work and pride in their company. When a company demonstrates collective compassion by demonstrating responsible citizenship, then it creates a favorable attitude among employees that supports employee retention and commitment. One can do more good for society from the helm of a corporation than any individual able to write checks for philanthropy.

What advice do you offer to young people beginning their careers?

My strong advice to those beginning their career is to adopt the first three of my nine C-suite Learnings: Embrace change…and see it as opportunity to grow.

Confidence…is the best antidote to fear and uncertainty.

Clarity…or simplicity, is essential to both understanding others and to effectively communicate with others.

These three elements are what I describe as “what” to learn before true learning can even begin. They are the “gift” that I willingly share with others and represent the most important attributes that have allowed me to live the American Dream.

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The Investor’s Investor An Interview with John M. Dowd, Chief Executive Officer, Fiduciary Trust International EDITORS’ NOTE John Dowd is Fiduciary Trust International Chief Executive Officer of Fiduciary was founded in 1931 by a group of Trust International (FTI), a global eminent New Yorkers who felt the wealth manager and wholly owned banks and trust companies of that subsidiary of Franklin Templeton, era had too many conflicts inherent specializing in strategic wealth in their business models. Firms at planning, investment management, that time often sold clients securities trust and estate services, and tax and from their own inventories, lent out custody services. A 30-year veteran their client securities without the of the wealth management industry, client benefiting, and generally took Dowd oversaw the Northeast region advantage of the lax atmosphere for Wells Fargo Wealth Management prior to the founding of the SEC John M. Dowd prior to joining FTI in 2016. He also in 1934 to enrich themselves. Our spent almost 20 years with Bank of founders, including Pierre Jay, the New York in various roles, including Chief Trust first Chairman of the New York Fed, wanted Officer and Head of Wealth Management. In to create a specialized trust company that 2020, under Dowd’s leadership, Fiduciary Trust focused on a “fiduciary” standard. This is also International made two acquisitions for the first nine years before the Investment Advisers Act time in 18 years – Athena Capital Advisors and of 1940 that codified much of the required Pennsylvania Trust Company. Dowd earned a advisory standards. Fiduciary was always at its bachelor’s degree in history from Guilford College core “the investor’s investor” – and as such, and an MBA from Columbia Business School. we established the first in-house research department of any trust company and we were FIRM BRIEF Fiduciary Trust International an early adopter of international investing. (fiduciarytrust.com), a global wealth management Today we are a global wealth management firm headquartered in New York, has served company with 15 offices across the United individuals, families, endowments, and States and we serve clients across the globe. We foundations since 1931. With mor e than are still very proud of the mission behind our $94 billion in assets under management founding in 1931, and we maintain practices and administration as of June 30, 2023, the and policies on perceived conflicts of interest firm specializes in strategic wealth planning, that other firms don’t. investment management, and trust and estate How do you describe Fiduciary Trust services, as well as tax and custody services.

International’s culture and values?

Fiduciary is very much a client-centric firm.

Wo u l d y o u h i g h l i g h t t h e h i s t o r y o f We are fortunate to have many of the original Fiduciary Trust International and how families that started with us in 1931 as clients, the firm has evolved? and we achieved a 99 percent client retention

rate this past year. We achieved that thanks to the fantastic people we hire and the deep technical skills they bring to their roles. We celebrate technical skills over sales skills because we believe if you do the right thing in an expert way for your client, business will follow. We also very much believe in a team mentality, and goals are most often set at the team level versus the individual level. All that comes together in what I call a “flat organization” where important client decisions are pushed out locally to the regional teams.

What have been the keys to Fiduciary Trust International’s growth and how do you define the FTI difference?

We have experienced dramatic growth over the past five years, essentially doubling in size in terms of assets under management as well as in client-facing employees. Part of that is organic growth driven by the addition of new services to meet client demand – such as financial planning, greater usage of alternative assets in client portfolios, and more services for family offices and endowments. And part of the growth has been driven by the acquisitions we made of Athena Capital Advisors and Pennsylvania Trust Company – both in 2020. The capabilities and the talent we gained through these acquisitions have made a tremendous impact.

The Fiduciary Trust International difference is a very important distinction. I think it truly comes down to the ability of a client’s team to work as an ensemble – each advisor has different skills, but they all work together to achieve the client’s most important goals. And success for us is knowing when our families and institutions achieve their goals.

“Fiduciary was always at its core ‘the investor’s investor’ – and as such, we established the first in-house research department of any trust company and we were an early adopter of international investing.

Today we are a global wealth management company with 15 offices across the United States and we serve clients across the globe.”

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“The Fiduciary Trust International difference is a very important distinction. I think it truly comes down to the ability of a client’s team to work as an ensemble – each advisor has different skills, but they all work together to achieve the client’s most important goals.”

What are your views on the state of the wealth industry, and will you discuss industry trends?

The wealth industry continues to be a highly attractive industry given the population growth of high-net-worth individuals, its fee-based nature, and high client retention.

The industry, however, is requiring a higher amount of ongoing investment to compete – in technology via interactive tools for advisors and clients, in people, and in operations to produce greater scale. The result is that there has been an acquisition boom in this space over the last few years. Firms have had to either merge or be acquired if they are under a certain size, and their path to high growth numbers has slowed down. But because there is still so much opportunity out there, new firms continue to enter the industry either as a result of advisor teams breaking away from the larger wirehouse firms, or through investments coming from private equity.

How is technology impacting the way Fiduciary Trust International operates?

I always say that every firm now is a technology company – you just have to decide what type of tech company you are. Tech is impacting us in so many different positive ways, whether it’s giving our clients real-time access to their accounts via our client portal on any device, or helping our advisors build bespoke presentations for clients using the wealth of thought leadership content we generate. Clients have also embraced a way of interacting with us that is truly hybrid – part of it is physically interactive via in-person meetings and Zoom, and part of the interaction is what I would call

DIY – do it yourself. Advisors and clients can even take it upon themselves to check back on a transaction from years ago – we hold 25 years of archived statements on our app.

I want our advisors to anticipate and provide the information our clients need, but the firms of today have to also provide an ability for the client to interact with you on their schedule and in the manner they choose.

How critical is it for Fiduciary Trust Inter national to build a diverse and inclusive workforce?

It is very important for us to have both a very diverse and inclusive workforce. Diversity is fundamentally key in any investment firm, precisely because you need various points of view to come to the right decision, and people of different backgrounds, of different genders, and of different cultures all contribute to that input. Our clients and prospects also look a lot like society as a whole – and they want to see a reflection of themselves in their team.

Regarding inclusion, no firm can operate at its best unless its people can bring their authentic selves to work and feel appreciated as well as acknowledged as an important part of the team.

We are also in such a competitive business, and nobody has all the answers sewn up – so being able to participate in crowdsourcing of diverse ideas and firm strategy is important for all employees.

What do you see as the keys to effective leadership and how do you describe your management style?

Effective leadership at the executive level really comes down to having the right mix of the strategic and the tactical. The strategic is

important to ensure your firm has the right plan for the future, and that you are constantly monitoring changing client demand, regulatory updates, technology advancements, and your competition to ensure success. The tactical is ensuring your engine room is running effectively and achieving the needs of your clients and helping your advisors do their best work. I enjoy these two key parts of my role, and would really hate spending all of my time on one and not the other. On a personal level, I believe my employees appreciate my consistency and unflappability – in 35 years of doing this, very little is totally new. It is also important to remain approachable, and to not be afraid to show your people you can make a mistake and recover. And, make sure you keep a sense of humor.

What are your priorities for Fiduciary Trust International as you look to the future?

My goal since I became CEO seven years ago was to make sure that Fiduciary Trust International exemplifies the gold standard in wealth management on a global basis. We have made strong progress in terms of our offering, new offices and talent, and technology while maintaining the team service that our clients have depended upon since our founding.

Going forward, I see us leveraging technology as well as behavioral science to better illustrate pathways that keep our clients on track for superior outcomes. I also get very excited about the contribution artificial intelligence could lend to the planning process – in particular, the democratization of private assets through blockchain technology and tokenization.

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“The wealth industry continues to be a highly attractive industry given the population growth of high-net-worth individuals, its fee-based nature, and high client retention. The industry, however, is requiring a higher amount of ongoing investment to compete – in technology via interactive tools for advisors and clients, in people, and in operations to produce greater scale.”

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PURPOSE

Service Excellence An Interview with Dr. Charles J. DiComo, Senior Director, Laboratory Services, WellSpan Health EDITORS’ NOTE Dr. Charles DiComo the Division of Molecular Pathology is an executive leader with a distinas a Leuksemia & Lymphoma Society guished car eer in the healthSpecial Fellow, where my teams and I care, life sciences, diagnostic, and focused on “benchtop to bedside” global clinical trials industries. He therapeutic approaches for our cancer has a proven track record of estabpatients during the early days of lishing built-for-purpose, state-of“personalized” medicine. the-art multidisciplinary clinical, These successes led my colleagues pathology, and central labs, as well and I at MSKCC, Yale Cancer Center, as hiring, training, and directing and Albert Einstein College of Medithe start-up and commercial operacine to co-found a precision meditions teams and creating stable, cine diagnostic company wher e Dr. Charles J. DiComo productive, harmonized, lean enviw e developed and commercialized ronments. He served as WellSpan prognostic laboratory developed Health Administrative Director, Laboratory tests (LDTs) direct to physicians, permitting Services; Integration and Planning; Eur o- personalized treatment options for their newly fins Scientific Vice President and General diagnosed cancer patients. From there, I was Manager, U.S. Global Laboratory Operations; recruited to Eurofins Scientific as Vice President Aureon Biosciences’ Chief Compliance Officer, and General Manager of U.S. and Global Central Vice President of Operations, Lab Director, and Laboratory Operations overseeing human Senior Scientist; a Leukemia & Lymphoma clinical trials across our build-for-purpose, stateSociety Research Fellow at Memorial Sloan- of-the-art laboratories on six continents.

Kettering Cancer Center; and a Damon Runyon-Walter Winchell Postdoctoral Fellow at Columbia University. DiComo holds a BS degree in genetics, an MS degree in molecular and cellular biology, and a PhD in genetics.

This role required our family to relocate from New York State to Lancaster County in South Central Pennsylvania. It was at this time that I was introduced to WellSpan Health for my family’s healthcare needs. Little did I know a few years later an opportunity would arise that would bring me full circle and back into the healthcare arena. I joined this rapidly growing health system in a newly created role as Administrative Director for Laboratory Services; Integration and Planning.

What excited you about the opportunity to join WellSpan and made you feel it was the right fit?

The people, the mission, and the opportunity. I have been extremely fortunate to be able to leverage my diverse experiences in multiple disciplines and patient-focused sectors to impact vital changes in our healthcare delivery, not only for my family and friends, but for my neighbors and communities across South Central Pennsylvania and beyond.

COMPANY BRIEF Every day across central Pennsylvania, the people of WellSpan Health (wellspan.org) work together to support its nonprofit mission of service – one patient, one community, one unique healthcare need at a time. WellSpan Health also collaborates with community leaders, area residents, and other healthcare providers to make sure that inpatient, outpatient, home health and physician services are located where they can do the most good.

Will you discuss your career journey in the healthcare industry?

From an educational standpoint, I received my BS and MS degrees at Long Island University C.W. Post. After college, I began my graduate studies at Stony Brook University on Long Island, New York in partnership with Cold Spring Harbor Laboratories, obtaining my PhD in Genetics. I was then recruited to Columbia University in New York City and awarded a Damon Runyon-Walter Winchell Postdoctoral Fellowship, where I focused on oncology and the tumor suppressor protein p53. Following my time there, I was recruited to Memorial SloanKettering Cancer Center (MSKCC), co-founding 74 LEADERS

Charles DiComo working with WellSpan Health lab teams (above and following page)

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Will you highlight your role and areas of focus?

My role as leader of WellSpan Laboratories is to ensure that we are forging a successful future for WellSpan Health by building a strong and successful laboratory service organization. This includes the development of a sound professional and administrative leadership structure, with comprehensive and uniform consultative support to all clinicians, and professional leadership support with evidence-based laboratory medicine, clinical effectiveness, and structured utilization review.

I continually evaluate a centralized laboratory services model, strengthening our centers of excellence and our outreach services structure and standardization opportunities. It is also crucial to evaluate interdisciplinary service opportunities, where laboratory is paired with imaging, pharmacy, occupational health, sleep services, rehab medicine, etc. These partnerships have proved effective.

Other key initiatives are the standardization and normalization of our Laboratory Services across the health system including, but not limited to, technology, equipment, methods, reference ranges, critical values, etc., along with our policies, procedures, manuals, regulatory standards, compliance, quality and safety metrics, operating budgets, capital equipment, cost containment efforts and, most importantly, consumer satisfaction initiatives. WellSpan has been intentional to prioritize this standardization across our system of care to ensure the quality of care, and the patient experience, is consistent.

Finally, as Chair of WellSpan Health Laboratory Operations, Governance, and Integration Committee (LOGIC), consisting of my team of Lab Directors, Medical Directors, Clinical Directors, Lab Operations Managers, Technical Directors, Contract Administrators, and the System Managers, we function as the decisionmaking unit, under the guiding principles of our charter, and serve as a recommending body VOLUME 47, NUMBER 1

to the WellSpan hospitals, facilities, leadership, and medical staff on matters related to laboratory services.

Will you provide an overview of WellSpan Health’s Laboratory Services?

WellSpan Laboratory Services is a network of eight hospital laboratories providing a comprehensive menu of clinical laboratory, molecular diagnostic, transfusion, anatomic pathology, and technical consultative services to WellSpan Health and the South Central Pennsylvania/Northern Maryland region. The laboratory performed over 10 million tests in FY22, supporting inpatient and emergency care, outpatient physician offices, skilled nursing and homebound care, and ambulatory patient care at 39 outpatient draw locations across the region. Our College of American Pathologist (CAP) system-accredited laboratory is supported by nearly 700 technical professionals and support staff, 25 pathologists, and 2 PhD technical directors.

The goal of WellSpan Laboratories is to be a leader in service excellence, test utilization management and interdisciplinary collaboration, rooted in STEEP (Safe, Timely, Effective, Equitable, Patient-centered Care) principles.

How do you describe WellSpan’s culture and values?

At WellSpan, we have several values that guide our decision-making and culture: • Respect for all • Work as One • Assume positive intent • Do the right thing • Find a better way While they all have their place in a growing organization with a vision to reimagine healthcare, the “find a better way” value has been especially important for our team of 20,000 across the health system. Often, we turn to our frontline teams for input and feedback on the

best way forward. We recognize that ideas are often born out of those that are most engrained in the effort and we empower them to speak up and share their visions on how we can find a better way forward.

What have been the keys to WellSpan’s industry leadership?

As old ways of thinking and doing became obsolete, our teams at WellSpan have been challenged to ask, “what if” and have been driven to reimagine the way we operate. Looking through a new lens, we disrupt ourselves to pave the way for a better value-based future – WellSpan’s goal is to lead the region in value. We are providing greater value by focusing on innovation and partnerships. We are also committed to upholding our social and environmental responsibility to drive lasting change for our patients – and our planet – by implementing sustainable best practices.

What are your priorities for WellSpan Health’s Laboratory Services as you look to the future?

Simply put, WellSpan Laboratory Services will continue to strive to provide our consumers with exceptional patient experience and timely and accurate laboratory testing. Through our Precision Medicine programs and The Gene Health Project, we will also aid in improving access to personalized healthcare and support new research discoveries for our community.

What advice do you of fer young people interested in pursuing a career in healthcare?

Be passionate, be persistent, be in a continuous learning mode, volunteer where you can, engage and deliver, surround yourself with diverse and dynamic peers and mentors, lean-in and do not fear taking an unconventional path. Focus on others and find solace in knowing you can and will have an impact on patients’ well-being.

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PURPOSE

A Disciplined Approach An Interview with Bob Kalman, Founder and Senior Portfolio Manager, Miramar Capital LLC EDITORS’ NOTE Bob Kalman has 30 years of industry experience, most recently as founder of Kalman Kushnir Capital Inc, which he began in 1994 as a Principal and Portfolio Manager. Kalman has spoken at national conferences on wealth management and market analysis. He earned a BA degree in political science from the University of Wisconsin – Madison and an MBA degree with concentrations in finance and economics from the University of Chicago’s Graduate School of Business.

with their goals, hence the structure of a fiduciary based firm 100 percent of the time. In the firm’s creation, we envisioned ourselves walking alongside our clients, not serving as roadblocks, which is often the case in other parts of the industry.

Max and I believe equally in how a client should be able to participate in the firm, and how they should be treated. The same sentiment stands to this day, as we’ve created a welcoming Bob Kalman advising environment for any prospective client to become a part of. We’re also extremely family-oriented and we wanted the office to reflect that. Financial offices FIRM BRIEF Miramar Capital (miramarcap.com) typically do not foster a family environment, but is an independent firm with more than 60 we created an environment where families are years of combined experience managing welcomed at all times. investment portfolios for private clients, trusts, In due part, I feel that this approach stems corporations, endowments, and foundations. from how Max and I met. We are both very active Miramar Capital’s primary role is to provide a in and devoted to our families, which continues clear and disciplined approach to investment to this day. It’s hard to create a work-life excellence. To accomplish this, the fir m balance in this industry, but that is how Miramar exclusively uses in-house, proprietary research Capital came to be. Our daughters went to of the capital markets. Miramar Capital works the same school and were teammates on the tirelessly to guide its clients’ investment strategies same basketball team. At one of their games, and aims to deliver results that help its clients we happened to be sitting next to each other prosper and pursue their goals. All of the firm’s and ended up striking up a conversation and actions and support are led by the pillars of its eventually, discovered a friendship that shares operating ethos: Integrity, Insight, Fair Value, very similar philosophies on life, investing, and Exceptional Service. and how a financial advisory company should interact with the people it counsels.

Will you highlight the history of Miramar Once Max and I decided to go into Capital and how do you define its mission? business together, after years of strategizing on Miramar Capital was founded by my how to best run the firm, we decided to develop partner, Max Wasserman, and me in 2017. Prior a strategy that provides the greatest opportunity to Miramar Capital, I founded and ran my own for investors who are a little risk averse, and firm, Kalman Kushnir Capital Inc., where I served cash-flow oriented like us. We believe that as the principal and senior portfolio manager. managing portfolios on a total return basis, Max, on the other hand, came from an analytical focusing on dividend paying stocks that offer and portfolio management background, which room to grow, gives investors just that. further strengthened our founding team. Our If you look back at the last 80 years, you mission is to run a firm that is fully transparent will find that roughly 45 percent of the return on and client-centric. In this industry, it’s rare to the S&P 500 has come in the form of dividends. find close-knit client and advisor relationships, Yes, almost half of the returns have come in the and we were dedicated to making that happen form of cash flow. with Miramar Capital. I think far too often people Will you discuss Miramar Capital’s in our business view clients as means to an end. approach and investment philosophy?

However, the clients that we serve have sought We maintain a consistent and disciplined our professionalism because we’ve created a approach to selecting securities. Each client reputation for ourselves that showcases that portfolio consists of 25-30 individual large or we’re here for them throughout the entirety mid-capitalization dividend paying companies of their investment journey. Our goals align that offer further growth and diversification.

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These are high quality businesses with strong franchises, solid, tested fundamentals, and greater earnings stability – think simply growthoriented companies.

For our approach, we knew that we had to concentrate on an avenue that worked best for us, and for our clients. I say this because Max and my own investments reside in our model portfolio as well. We believe that our strategy should be at the foundation of everyone’s investment pyramid. Typically, we start with core investments that are more conservative, which means the investments are less volatile and more predictable based on their cash flow.

In our view, this is an excellent strategy and one that can endure any type of economic period or market cycle. As mentioned earlier, because we are a little risk averse and more cash flow oriented, we decided that the parameters of the portfolios would be companies that pr oduced incr easing cash flow to their shareholders on an annual basis, meaning dividends that grow on an annual basis. These are companies that can thrive, or at least do well enough in bad economies and do very well in good economies, and also have the ability to continuously share the earnings that they make with their shareholders.

We don’t view our investments as stocks, but as companies, specifically those in which we would want to be partners. These are companies that remember that at the base of everything resides the shareholders who provide the capital for them to do business. They are rewarding the people who have rewarded them.

Far too often “boring” stocks, which are the ones that have growing dividends, are underappreciated by the average investor.

There’s also a bit of a tax advantage, on average, that comes alongside earning dividends that are classified as “qualified.”

We may modify our approach to different sectors based on the economic environment and where the interest rate structure is at the time, but otherwise, at a minimum, there must be dividends that grow.

Will you provide an overview of the pillars of Miramar Capital’s operating ethos?

We believe in full transparency, meaning our clients know exactly what and how much of everything they own. This is made possible because their investments with us are not in a fund structure, as we operate under the separately managed account (SMA) model.

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We align client performance with our own personal investments, meaning we own everything that our clients own. While other firms might not operate under the same guise, Max and I believe in investing our own money alongside our clients.

This is something you rarely see within the financial advisor sphere. One of the reasons we do this is because we’re running a single equity strategy and are full-time fiduciaries.

We believe in taking care of our clients in every way possible. Although being a financial firm means that we put the finances of our clients first, we assure them that they can come to us for anything they need outside of their investments. We feel as though this promotes a healthy environment on both ends. We are thankful to be in such a position of trust, as many of our clients seek guidance in areas such as their own businesses, their futures, or any other outside investments they may be considering at any given moment. Client relationships like this are rare and we do not take them for granted.

Also, we are fully transparent in our performance, which means we will never show gross returns – it is always returns net of fees and all expenses. As with any financial service provider, we meet with our clients at their chosen frequency and are invested in their journeys.

With being as client-centric as we are, it is our duty to ensure that we are able to best serve them.

How critical is it for Miramar Capital to build a diverse and inclusive workforce?

As with much of the larger financial services industry, we are making a concerted effort to cultivate a more diverse personnel base at Miramar Capital. Given our client-first model, we try to hire people whose work philosophy matches our own; that’s not something bound by identity, but by attitude and outlook. While we are always looking for people who try to do the best they can on behalf of their clients, we are also actively looking to bring on people with varied backgrounds and personal histories. We want the Miramar Capital staff to share a cohesive vision, and the effectiveness of that vision can only be made more robust through people with an array of different life experiences.

Addressing the gender disparity and hiring more women within our office has also been one of our top priorities. Building a more diverse and inclusive workforce is an ongoing project. It is not an initiative that has a clearly defined finish line. With that said, just as we are continually trying to refine our internal process and the results we net for our clients, the same is true of creating a more inclusive range of staff members at Miramar Capital.

Traditionally and historically, this has been a white-male-dominated industry, and we are incredibly aware of that fact. We believe wholeheartedly that it should not continue to be this way, and we are doing our best to facilitate change in a more positive direction.

Promoting a more diverse internal team will also reflect on the client base that we bring in. The nature of the financial industry as a whole is shifting itself to be more inclusive in VOLUME 47, NUMBER 1

every aspect it can. We’re at a point in time that anyone can enter, regardless of their personal and professional backgrounds. As long as a person can hold their own through experience and expertise, there will always be room for them to assert themselves among the traditional players.

This is not a change that will occur overnight, but as we move forward, we know that our success as a firm and our ability to deliver favorable outcomes for clients is intrinsically tied to the diversity of our team.

“If you look back at the last 80 years, you will find that roughly 45 percent of the return on the S&P 500 has come in the form of dividends.

Yes, almost half of the returns have come in the form of cash flow.”

What do you see as Miramar Capital’s responsibility to be engaged in the communities it serves and to be a force for good in society?

As I’ve said before – when you’re with Miramar Capital, you’re with family. We take care of our own, and we expand that into our community as well. Like with dividends being reinvested into stock, we see the same with investing in causes that are meaningful as well. We generously donate to causes that we are personally invested in, and even invite our clients to suggest worthy charities as well.

If a client approaches us with a means of charitable donation through a project of theirs or an organization that they believe in, we make it our duty to utilize our resources to help them however we can, given that it aligns with our own beliefs.

This sentiment is reflected in our holiday gifts as well. When we first started Miramar Capital, we would send thoughtful gifts to our clients.

When the pandemic started, we made it a point to sit down and reflect on our gift choices. As trivial as that may sound, seeing just how badly the pandemic impacted people made us realize that while gifting material items to clients can strengthen our relationship with them, they didn’t necessarily need any of it. Sure, it’s always great to receive something nice, but what difference can something like a box of chocolate really make? In working with us at Miramar Capital, our clients can easily afford to buy whatever gift we would’ve given them anyway.

In lieu of that, we’ve changed our philosophy on how we give back to our clients. Instead of sending physical gifts, we now make donations in our staff and clients’ honor. We make sure to research every organization we donate to, which may mean contributing to women’s shelters, Jewish charities or the American Heart Association, or other organizations of that nature. In terms of local outreach, we work with Chicago-based nonprofits to promote combating food inequality and implement better educational programs in schools.

With that, we now send out holiday cards to our clients saying that we’ve made two sizeable donations on their behalf. We’ve found that this shift in holiday-oriented generosity has been a huge success, as we’re driving meaningful impact. I believe that if you have the means to contribute funds to positive change, you should. Now that we’ve implemented this into our holiday routine, we hope to continue paying it forward to those who need it most.

What are your priorities for Miramar Capital as you look to the future?

I believe we’re on the right track as far as continuing to operate the way we have since inception. However, in the future we would like to start utilizing our collective industry expertise to educate the public on how the financial sphere works, and how to properly navigate it.

With the world creating new asset classes for people to put their money into, there are more investment instruments vying for people’s attention and money. The impression that many people have when entering the financial world is that when the markets and economies are good, they’re all making money, and when things are going bad, their money goes away.

That simply isn’t the case, and unfortunately many folks are misinformed about the ebbs and flows of the financial industry.

It’s our job to educate the public on a strategy that is hiding in plain sight but is always there and should be the foundation of their portfolios.

Should someone want to invest outside of our strategy, we would never tell them they shouldn’t, but we would recommend that within their universe of assets, 50-75 percent should be in a core like ours – high-quality, growth common stocks with strong fundamentals and a history of growing dividends.

That being said, looking into the future, our overall mission is to continue serving our clients at a high operating standard that aligns with the vision of Miramar Capital. We’re in this together with our clients and hope to continue the trajectory of growing our business even further.

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PURPOSE

Make Security Possible An Interview with Brian Murphy, Founder and Chief Executive Officer, ReliaQuest EDITORS’ NOTE Brian Murphy is What was your vision for founding founder and CEO of ReliaQuest, one of ReliaQuest and how do you define the largest and fastest growing compaits mission? nies in the global enterprise cybersecurity When I founded ReliaQuest, I market. ReliaQuest increases visibility, wanted to create a company where reduces complexity and manages risk we could tackle large problems by with its cloud-native security operafocusing on the customer. There’s no tions platform, GreyMatter. Murphy has larger problem than cybersecurity. I grown ReliaQuest from a boot-strapped believe cybersecurity is the greatest startup to high-growth unicorn with a technical challenge of our generation. valuation of over $1 billion, over $200 It’s a fascinating field that attracts million in annual recurring revenue driven individuals who can grow Brian Murphy and more than 1,200 team members within their careers by focusing on across six global operating centers. the customer. If a company like this Murphy has received accolades for his leadership, existed when I was starting my career, I would entrepreneurship, and community engagement. have never founded ReliaQuest.

Our mission at ReliaQuest is to “Make COMPANY BRIEF ReliaQuest (reliaquest.com) Security Possible.” Everything we do is driven is the force multiplier of security operations. by a maniacal focus on helping our customers Its security operations platform, GreyMatter, defend their organizations against cyber threats. automates detection, investigation, and response Will you pr ovide an overview of across cloud, endpoint, and on-premise tools and ReliaQuest’s capabilities? applications. GreyMatter is cloud native, built on In working with enterprise customers an open XDR architecture and delivered as a over the past 15+ years, we’ve learned that service any time of the day, anywhere in the what cybersecurity teams need most is visibility world. With over 700 customers worldwide and without complexity. Data is everywhere, and 1,000+ teammates working across six global you can’t defend what you can’t see. Simply operating centers, ReliaQuest is driving outcomes adding more tools doesn’t solve the problem for the most trusted enterprise brands in the because it’s not about the tools. It’s about world. ReliaQuest exists to make security possible. visibility into the data.

ReliaQuest’s enterprise cybersecurity platform, GreyMatter, automates detection, investigation and response to cyber threats across cloud, endpoint, and on-premise tools and applications. It stitches together data from across any source to create a more complete picture for cybersecurity teams. This allows them to do more meaningful investigations and resolve issues quickly, rather than trying to respond to disconnected alerts from different technologies and piece a picture together manually.

What have been the keys to ReliaQuest’s growth into a leading firm and community partner in the Tampa Bay area?

ReliaQuest has a global footprint, with six operating centers around the world and over 700 global customers. As we continue to scale, we are proud to be a Florida-founded company and continue to maintain our global headquarters in Tampa Bay. It’s been a great place to grow a business, with plenty of talent from our state universities, a business-friendly climate, and a location that customers and prospects love to visit.

What led you to hire mental performance coaches with backgrounds in professional sports to work with all 1000+ ReliaQuest employees?

We b e g a n w o r k i n g w i t h m e n t a l performance coaches over a decade ago, after

“There’s no larger problem than cybersecurity. I believe cybersecurity is the greatest technical challenge of our generation. It’s a fascinating field that attracts driven individuals who can grow within their careers by focusing on the customer. If a company like this existed when I was starting my career, I would have never founded ReliaQuest. Our mission at ReliaQuest is to ‘Make Security Possible.’ Everything we do is driven by a maniacal focus on helping our customers defend their organizations against cyber threats.”

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“ReliaQuest’s enterprise cybersecurity platform, GreyMatter, automates detection, investigation and response to cyber threats across cloud, endpoint, and on-premise tools and applications. It stitches together data from across any source to create a more complete picture for cybersecurity teams.”

I read an article about mental performance coaches being the secret weapon for highperforming collegiate teams. How you think impacts how you feel, and how you feel impacts how you perform. The professional sports world understands this and leverages it for high performance. I didn’t see any reason why the same tools wouldn’t apply to business – especially in cybersecurity, where high performance is expected, and pressure is part of the job.

Since then, our focus on mindset has become a key part of how we hire, train and develop our teams. We know there’s no such thing as perfect, but there is always a way to be better, and this belief makes a huge difference in how our teams solve problems with our customers.

Will you discuss ReliaQuest’s sponsorship of the once-longstanding NCAA Outback Bowl, now known as the “ReliaQuest Bowl”?

When we were approached about taking o v e r t h e s p o n s o r s h i p o f t h e O u t b a c k B o w l , it was an easy answer.

Sponsoring an event of this magnitude gives us the opportunity to raise awareness of cybersecurity to a mainstream audience on a national scale. It’s also been a great way to engage and celebrate our customers, teammates, and partners.

Importantly, the bowl game’s mission aligns with our community focus, giving back millions of dollars each year to universities and charitable organizations.

How important is it for ReliaQuest to build a diverse and inclusive workforce?

It’s our belief that while there is a shortage of trained cybersecurity professionals in the workforce, there is no shortage of people who are willing to learn. Anyone can learn cybersecurity if given the opportunity, from any background. That’s why we’ve invested millions of dollars and thousands of volunteer hours to youth education organizations such as Junior Achievement and Think Big for Kids.

Through these partnerships we’re able to raise awareness of the challenges and careers within cybersecurity.

We also invest at the college level through programs like ReliaQuest Labs at the University of South Florida, which gives students hands-on cybersecurity training using real-world scenarios to complement what they are learning in the classroom.

What do you see as ReliaQuest’s responsibility to be engaged in the communities it serves?

Everything we do is driven by the problem we solve in cybersecurity, and we believe that cybersecurity is a team sport.

Our partnerships in the community allow us to raise awareness of cybersecurity and career opportunities within it, which helps all of us.

We’re also invested in helping the next generation of entrepreneurs solve other technology challenges thr ough Embarc Collective, now ranked one of the top business incubators in the world. Launched in 2020 as part of Tampa Bay’s new Water Street development led by Jeff Vinik and Cascade Investments, Embarc supports nearly 150 tech- and tech-enabled startups with 1:1 mentoring, coaching and startup resources.

Did you always know that you had an entrepreneurial spirit and desire to build your own business?

I’m from a small town in Florida, and as a kid I always loved the idea of business, at least from what I saw in movies. I liked the idea of solving problems for people and building something.

I was always willing to learn, and I’ve always been surrounded by hard work. I’ve always focused on being able to outwork anything in my way. My idea of “business” may have changed from what I saw in movies, but those values have been consistent and have made it all possible.

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“We’re also invested in helping the next generation of entrepreneurs solve other technology challenges through Embarc Collective, now ranked one of the top business incubators in the world. Launched in 2020 as part of Tampa Bay’s new Water Street development led by Jeff Vinik and Cascade Investments, Embarc supports nearly 150 tech- and tech-enabled startups with 1:1 mentoring, coaching and startup resources.”

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PURPOSE

Unifying The World Around Live Music An Interview with Robert Ellin, Chairman and Chief Executive Officer, LiveOne, Inc. EDITORS’ NOTE Rob Ellin is the COMPANY BRIEF Headquartered in founder, CEO, and chairman of Los Angeles, California, LiveOne, Inc. LiveOne, driving the company’s (liveone.com) is a global talent-first, overall strategy and leading both interactive music, sports, and enterthe LiveOne and Slacker business tainment subscription platform delivunits. Ellin developed the concept for ering premium content and livestreams LiveOne and founded the company from the world’s top artists. LiveOne’s in 2015, raising the initial capital other major wholly-owned subsidiaries and negotiating festival and distriare LiveXLive, PPVOne, Slacker Radio, bution rights. He led the acquisition React Presents, CPS, and PodcastOne. of Slacker Radio and took LiveOne LiveXLive has streamed over 1,800 public in December 2017. Ellin is artists since January 2020, a library Robert Ellin also the founder and managing featuring close to 30 million songs, 500 director of Trinad Management, expertly curated radio stations, 235 a Los Angeles-based hedge fund. A long-time podcasts/vodcasts, hundreds of pay-per-views, believer – and investor – in transformative digital personalized merchandise, an NFT business, technology and media, Ellin has launched, sold, and has created a valuable connection between and taken public dozens of ventures, and over- brands, fans, and bands. PodcastOne generates seen investments in gaming companies Majesco more than 2.38 billion downloads per year and and THQ, as well as Jaxx Pacific, among 300+ episodes distributed per week across a stable others. Prior to founding LiveOne, Ellin was the of hundreds of top podcasts. The combination Chairman of Digital Turbine, where he worked of acquisitions and the expansion of products with business partner Peter Guber to successfully and franchises have secured LiveOne as a toptake the company public. He also ran, and then rated music, entertainment, and media services sold, Internet media company iWon to Barry company.

Diller’s IAC. Ellin began his career in finance, working at Eli Rothschild in institutional sales What was your vision for creating LiveOne? before moving to Lombard Securities. A New My vision for creating LiveOne was to York native, he is a graduate of Pace University. unify the world around live music. The second

part of the plan was to create the next generation MTV – a place to come for authentic music, content, and pop culture around music.

How do you define LiveOne’s mission and purpose?

LiveOne’s mission is to be the authentic voice in music that has been missing for 20 years since MTV left video and audio music.

Will you pr ovide an overview of LiveOne’s business?

LiveOne is the world’s first all-in-one music and entertainment destination that combines premium livestreams of concerts and festivals, expertly curated streaming radio stations, podcasts, and original artist video and audio content. At LiveOne, we believe music unifies the world, and it’s our mission to bring music and entertainment to as many people as possible around the globe.

Where do you see the greatest opportunities for growth for LiveOne? Subscriptions and sponsorships continue to add to our massive growth. We have grown from 400,000 subscribers in five years to more than 3,200,000. We are continuing to add to our sponsorships, which has grown from just 7 companies to over 700. We are steadily adding creators as we are a creator first platform focused on superfans. The growth will

“LiveOne is the world’s first all-in-one music and entertainment destination that combines premium livestreams of concerts and festivals, expertly curated streaming radio stations, podcasts, and original artist video and audio content. At LiveOne, we believe music unifies the world, and it’s our mission to bring music and entertainment to as many people as possible around the globe.”

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“LiveOne’s mission is to be the authentic voice in music that has been missing for 20 years since MTV left video and audio music.”

come from B2B deals with partners like Tesla.

We are a white label solution partner that provides a full 360 play, accessing all the licenses and everything else they need for success.

Do you feel that there will be continued consolidation in the industry?

There is a huge opportunity for consolidation. We recently reported that we have over 170 podcasts on our platform. We are expanding dramatically. The more creators we land on our platform, the more revenue streams come out of that. And the more B2B deals, the bigger the opportunity to expand.

As with all my other companies, like Digital Turbine, which I acquired more than eight companies to grow it, we will continue to grow LiveOne in that fashion through both M&A activity and additional acquisitions.

Through our acquisitions we have acquired about $45 million in revenue, and we now do about $125-$130 million in revenue. Our growth will continue to happen both internally and externally as the industry continues its consolidation.

How critical has it been to build the LiveOne team?

Building the LiveOne team has been critical to our success. We focused all our energy

into hiring the best management, putting the best board together, and not micromanaging them, but macromanaging them. It has been vital to the big picture and how we as a team can create a $1 billion plus in value.

How do you focus your efforts leading LiveOne? I am not a micromanager – I am a macromanager. All my companies have been built on five great chess moves to build these to hundreds of millions to billions in value.

Digital Turbine went to $12 billion in value as a high. So, where I focus my energy is to look at the strategy of our management teams and think about how they get to a high level and become a thought leader in their industry, being a key player and capturing market share.

Did you always know that you had an entrepreneurial spirit and desire to build your own company?

I started on the banking side of the business where I had the luxury of learning under Jack Friedman who created multiple companies that he took public, including THQ, and Jakks Pacific. I watched him work two jobs every day – the stock market as well as building his businesses. If you focus on both, you have an opportunity to create

real value for your shareholders. Surround y o u r s e l f with world-class talent at the management level and board level and cut great partnerships that have the ability to grow. If you treat them right, give them that extra attention, and deliver at the highest level, those B2B partners can expand and g r o w y o u r business dramatically. I have been building companies for over 30 years, all looking at the size of the market. I don’t build the wave; I jump on the wave. How big is that TAM? How big is that wave? In music the TAM is so big that this is going to 1.7 billion paying subscribers. We are one of twelve ESPs left in the world. From iHeart all the way up to Apple, anywhere from $5 billion to trillions of dollars of value, we have put ourselves in a position that we are in a market that has an unlimited upside.

What are your priorities for LiveOne as you look to the future?

My priorities for the future are focusing my energy on finding that massive opportunity to pick up more creators, having a closer relationship with those creators, and picking up more B2B partnerships that will give us the opportunity to grab more market share.

Most importantly is being the curator and owner of IP across all of these platforms.

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“We are steadily adding creators as we are a creator first platform focused on superfans. The growth will come from B2B deals with partners like Tesla. We are a white label solution partner that provides a full 360 play, accessing all the licenses and everything else they need for success.”

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Listen, Persist, Integrity An Interview with Kurt J. Long, Co-Founder and Chair, BUNKR EDITORS’ NOTE Kurt Long started COMPANY BRIEF BUNKR’s (bunkr.life) his career at the Kennedy Space vision is to give customers time back Center as space shuttle databank in their day while growing trust and mission lead for the Hubble Space reducing the anxiety in their lives.

Telescope, Venus Radar Mapper, BUNKR’s business model is aligned Ulysses (Sun close fly-by) as well with the well-being of its customers as numerous other missions. As through the company’s product design an entrepreneur, Long believes in and service principles. BUNKR’s proda “people-first” leadership philosucts are designed to save its customers ophy having founded, grown and time, eliminate frustrations, and sold three successful businesses – pr otect customers fr om security, most recently FairWarning which privacy, and surveillance risks. BUNKR Kurt J. Long protects patient privacy in 8,500 believes privacy is a human right and healthcare facilities around the the company never sells any form of world. In founding FairWarning, Long had less customer data to any third party. In exchange, than $1 million of outside investment exclusively its customers pay a subscription fee for the value with lifelong friends to produce a 75x+ return the company creates in their lives. to investors as well as producing shareholder profits for 10 consecutive years along the way. What was your vision for creating BUNKR, Together with his sons, Long is Co-Founder of and how do you define its mission?

BUNKR. BUNKR empowers consumers and their During spring of 2020, our family was households to organize, secure, and share the evaluating business opportunities and living a most important information in their lives. Long mostly digital life during COVID lockdowns. is active with a variety of projects as an investor, It became astonishing that the tools we use mentor, and through the Long Family Force in our daily lives like email, text, social media for Good Foundation including work with Big messengers, cloud storage, and password Change, Virgin Strive, National Tennis Foun- managers were clumsy and frustrating, and dation, EasyPeasy, VentureWave, the Brookings most were exposing us to cyber-threats by Institute and Give Learn. Long co-founded and their very design. People most-often use these funded “Next Generation Entrepreneurs” with a tools because they are “free,” but they come major public school system in the United States. with deep hidden costs. This is very apparent He has been granted nine patents in privacy and for people on-the-go, families, and travelers. security technology globally and has a master’s Cyber criminals are now rapidly incorporating degree in theoretical mathematics and bache- AI into their cyber-attacks, intensifying expolor’s degree in business. sure to these threats.

Based on our past experiences, we decided we could do better, so we founded BUNKR. We would build a product that was seamless, easy-to-use, protected its customers, considered privacy a human right, and saved people time. Further, we would make it affordable for everyone.

Today, BUNKR is an affordable safe-haven for individuals and businesses in 29 countries used by travelers, families, executives, entrepreneurs, professional athletes, agents, financial and healthcare professionals, and others.

BUNKR’s vision is to give customers time back in their day while growing trust and reducing the anxiety in their lives. BUNKR has been built to put our customers’ most important information at their fingertips no matter where they are in the world, share information with exactly who they choose, and to receive protection from the best-of-class privacy and security.

How do you describe BUNKR’s culture and values?

We think of our culture as a way of getting work done and it is grounded on three core values: listen, persist, and integrity.

Listen – listening requires having respect for others. Respect is based on seeing unique strengths in each other. If we combine our strengths, we can do incredible things. It requires humility to live this idea. We are always looking for team members who listen first.

Persist – persistence is crucial in good times as well as difficult times. When a business is growing fast, there are challenges and, when

“We are at our best and most fulfilled when leadership lives their promises. We believe in listening and persisting with integrity to build a company that lasts.”

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“My greatest joys have come from having the freedom to push limits while being part of teams of people who care about each other. Entrepreneurship, high-performance teams, and living family-first are the catalysts of my life.”

a business is struggling, there are challenges. In all cases, there are challenges, and we persist in finding solutions together.

Integrity – solving challenges creates intrinsic pressure which leads to temptations to cut corners. This works against quality as well as the sustainability of the business. To make up for shortfalls, cutting corners can lead to making misrepresentations to your customers, your employee-team, shareholders, and the community in general. The biggest business fails we witness in the media come from a failure of leadership integrity.

We are at our best and most fulfilled when leadership lives their promises. We believe in listening and persisting with integrity to build a company that lasts.

Will you highlight BUNKR’s capabilities and solutions?

BUNKR puts your most important information at your fingertips, so that you can share it with exactly who you choose. BUNKR was built for trust from day one, offering secure cloud storage, invitation-only messaging, password management, large file transfer, seamless scanning, and everything you need to conduct your personal and business affairs with complete security and privacy. Once your information enters BUNKR, it is always encrypted unless you are literally looking at it. This is great to know if your phone is lost or stolen like mine was on a trip in 2019. This influenced the design of the product.

BUNKR is transforming how people run their lives by eliminating the need for paper files, retaining mail, and password notebooks.

It completely eliminates spam, scams, and impostor frauds. We built the product so that your information is available regardless as to whether you have connectivity which makes it ideal for travelers and people on-the-go. Families using BUNKR consider it mission critical to saving them time and keeping their families secure.

BUNKR is perfect for anyone, and any business who values their time and wants the ultimate in privacy and security in an easy-touse product.

What have been the keys to BUNKR’s growth, and how do you define the BUNKR difference?

The magic of BUNKR is that it’s so simple to use, offers rich features and is best-of-class in security and privacy. Further, we’ve aligned VOLUME 47, NUMBER 1

the BUNKR business model with the well-being of our customers by making it so affordable while never selling customer data – ever. People can spend more time with the people they love and doing things they enjoy because BUNKR is saving them time while keeping their lives secure and private.

What do you look for in a BUNKR team member?

We look for people that listen first and have a track record of persisting with integrity. These characteristics also build immense competencies in people and give them the skills to learn faster than others. In short, we are looking for people who align with our values that we discussed and have competencies in our areas of need.

How do you define entrepreneurship?

Entrepreneurs transform a vision into a sustainable reality, creating value in the lives of all involved, beginning with the lives of their customers.

Integrity is the key to sustainability – when integrity fails, eventually the business fails. Profitability and growth are essential to sustainability – there should be no apologizing for them. If you lose enough money, you will not have a business. Human decency and the way we treat workforces are critical as are relationships with shareholders and contributions to the community. Environmental sustainability is critical, but it cannot be our only focus.

This brand of entrepreneurship is a vision, a journey, and a high bar. Entrepreneurs are pushing to grow and produce profits – simultaneously we have higher aims. It is a lot, but it absolutely can be done. We can reshape capitalism and entrepreneurship for the better in the 21st century.

When did you know that you had an entrepreneurial spirit and desire to build your own company?

My greatest joys have come from having the freedom to push limits while being part of teams of people who care about each other. Entrepreneurship, high-performance teams, and living family-first are the catalysts of my life.

I was fortunate to spend the first 10 years of my career at Kennedy Space Center (KSC) on the Space Shuttle program with world-class people. As a team, we made mission-critical contributions to numerous ground-breaking

space missions like Hubble Space Telescope.

We were proud to be part of something bigger than ourselves.

My mentors taught that if we work together toward a common vision, we could do anything together. This directly translates to entrepreneurship. On pushing physical limits, KSC is on the Atlantic Ocean which has an irresistible draw, so I learned to surf and windsurf along with playing competitive tennis. These sports also contribute to one’s humility. This all built a growth mindset of possibility. It was a wonderful start given that I come from workingpoor beginnings.

My career advice to aspiring entrepreneurs is to start your journey working for the most talented, caring people who will have you. You have a long time to make money, but only a single chance at laying the foundation of your character.

Eventually I moved on from KSC and founded three companies over the 25 years prior to BUNKR. Each was acquired by significant businesses. The most successful was FairWarning where we invented patient privacy monitoring and dominated our industry for 15 years before we sold the business to Imprivata in late 2019. FairWarning continues to dominate its market segment within Imprivata, which is itself a great company.

In recent years I’ve been part of a small group of entrepreneurs who raise money for children’s education by taking on remarkable physical adventures all over the world. The feeling of teamwork and respect has been incredible. I’ve never seen an entrepreneur quit on any of these adventures. Climbing a mountain of 17,000 feet is a lot like building a great business – take it one step at a time to get to the top.

The entrepreneurial spirit is about pushing personal boundaries, persisting, and accepting the rewards as well as consequences of your life. Entrepreneurs are always aiming for the promised land.

BUNKR’s spirit of pushing the limit is making privacy, security and saving people time affordable for every person in the world.

What are your priorities for BUNKR as you look to the future?

Building a globally trusted and meaningful brand, living up to our promises, and feeding the human spirit by empowering people to live their best lives.

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Taking The Work Out Of Play An Interview with Peter Frintzilas, Chief Executive Officer, TeamSnap EDITORS’ NOTE Peter Frintzilas the #1 sports management platform is the CEO of TeamSnap, an by its loyal audience of more than 25 industry-leading sports managemillion youth sports coaches, adminisment and communication plattrators, players, and parents and over form for amateur sports. Before 19,000 sports organizations across leading TeamSnap, he was an more than 100 different types of sports Executive Partner at Waud Capital and activities. The leading sports-tech Partners, wher e he focused on company offers brands innovative new growth-oriented investments in the ways to connect with passionate youth mid-market vertical software space. sports audiences from across the globe, Prior to joining WCP, he was Senior while offering sponsorship opportuniVice President and member of the ties that impact the lives of millions Peter Frintzilas Executive Team at Intralinks, a of youth athletes each year and also $300M+ global FinTech solutions provide much needed funding to thouprovider, serving as both Head of Marketing, sands of youth sports organizations. It is currently Strategy and Innovation and General Manager in high-growth mode, expanding its footprint of its Banking and Securities division, and where toward becoming the platform and markethe helped to transform and lead the company place for all things youth sports. through three different sale transactions, ultimately culminating in a $1.5 billion sale What is the history of TeamSnap, and how to SS&C. Before Intralinks, Frintzilas worked do you define its mission? in a range of go-to-market and technology roles TeamSnap was founded by Dave DuPont at Mimeo.com, Yahoo, and RR Donnelley. He in 2009 to solve the pain points he was experiserves as a Strategic Advisor to SportsTech encing as his son’s lacrosse coach. He quickly company PlayEasy, a Mentor to the Techstars realized that there was a way to digitize the SportsTech Accelerator, and recently sat on manual processes needed to run a youth sports the Advisory Board of the Big Data Program organization, like paper-driven registration and at Rutgers University. Frintzilas earned a BS phone chains. Since then, TeamSnap has in information management and technology continued to grow and innovate for the past from Syracuse University, an MBA from the 15 years. We are currently in the pockets of 25 NYU Stern School of Business with dual special- million coaches, administrators, players, and izations in strategy and corporate finance, and an parents across North America and have 19,000 executive certificate in innovation and strategy sports organizations using our easy-to-use tools from the MIT Sloan School of Business. for communication, scheduling, payment collection, registration, and fundraising.

ORGANIZATION BRIEF TeamSnap (teamsnap.com) Through all of that growth, our mission is home to the largest online community for has remained the same – to bring the world of everything youth sports. It is consistently rated youth and amateur sports together by creating

connections and unlocking the power of play – we take the work out of play. We believe that when people connect through sports, the world becomes better.

What excited you about the opportunity to lead TeamSnap and made you feel it was the right fit?

Prior to TeamSnap, I was an Executive Partner at private equity firm Waud Capital Partners, where I helped design our investment thesis in the youth sports technology market. At the time, TeamSnap was a founder-led, venturebacked company that experienced tremendous growth through grassroots expansion, but we saw the untapped value of what it could provide for the youth sports ecosystem. When Waud and TeamSnap entered into a strategic partnership in 2021, I stepped in as CEO. I was excited for the opportunity to step into a leadership position in a growing organization that had a strong foundation with a huge runway for growth, and to combine my passion for sports with my more than 20 years of software operator experience.

Will you highlight TeamSnap’s capabilities and services?

TeamSnap is the leading provider of sports management software and the online community for everything youth sports. Over the past two and a half years, we’ve witnessed accelerated growth, doubling the size of the organization in terms of both revenue and head count, and have invested heavily in our technology. We currently have three offerings: TeamSnap for Business, our SaaS solution with tools that helps over ten thousand small and medium sized businesses operate to provide sports programming for families and

“Through all of that growth, our mission has remained the same – to bring the world of youth and amateur sports together by creating connections and unlocking the power of play – we take the work out of play. We believe that when people connect through sports, the world becomes better.”

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“TeamSnap is the leading provider of sports management software and the online community for everything youth sports. Over the past two and a half years, we’ve witnessed accelerated growth, doubling the size of the organization in terms of both revenue and head count, and have invested heavily in our technology.” athletes; TeamSnap for Teams which simplifies the administrative tasks in managing a sports team; and TeamSnap for Brands which provides specific opportunities for brands to connect with communities, at scale, through digital and on-field activations.

How is technology impacting the way TeamSnap operates?

Every growing technology company must always be on their toes so they can continue to innovate and stay relevant to their users. At TeamSnap, we are constantly creating new value for our community of users and investing in our platform to build a more secure, scalable, and efficient infrastructure to serve them.

In addition to focusing on our products, we are always exploring new technologies and services to improve our efficiency as an organization – whether that means automating business practices or using generative AI within our technology.

What was the vision for creating TeamSnap Impact, and what do you see as TeamSnap’s responsibility to be engaged in the communities it serves and to be a force for good in society?

Our vision for TeamSnap Impact goes back to our mission which is to enhance the lives of kids by enabling their participation in sports and to create a world where youth sports are accessible and equitable for all. As a leader in the space, I felt it was our responsibility to give back to the youth sports community and we saw an opportunity to create a mission-based vehicle to give back to the communities we serve and formalize our passion for sport equity.

We created TeamSnap Impact in 2022 as a community impact program aimed at

supporting youth sports and leveling the playing field for kids in underserved communities. We are dedicated to helping improve access to quality sports programs for all young athletes regardless of race, gender, religion, or socioeconomic status. We do that through providing funding, software, and services to the youth sports community.

As of November 1, 2023, we’ve provided $618,000 to 8,300 children and partnered with 14 organizations including Special Olympics Colorado, Philadelphia Youth Basketball, and Maryland State Youth Soccer Association.

What can be done to create more equitable access to sports?

There are many organizations dedicated to creating more equitable access to sports in different ways. So, in addition to our work through TeamSnap Impact, I have joined the board and executive committee of the PLAY Sports Coalition. This group consists of thousands of stakeholders across the youth sports industry all with the same goal to ensure the youth and local sports industry thrives by providing families, and especially youth in under-resourced communities, with equitable access to play for physical and mental health, and character and leadership development. One way we are doing that is by unlocking state and federal funds for use in youth sports programs and projects.

TeamSnap also works with the Positive Coaching Alliance that creates a positive youth sports environment by delivering more than 20,000 live group workshops to more than 19.2 million youths in 18 nationwide chapters, conducting online courses, and running scholarship and coach award programs.

There seems to be a general increase in interest in youth sports, especially after the updates to Name, Image, and Likeness (NIL). Are you seeing that interest from big brands, and how are you helping them tap into this huge market?

Yes, we are seeing more and more interest in the youth sports space from brands. There have been a lot of changes lately, with NIL and streaming capabilities and this is causing sponsorship dollars to increase, but there is limited space available across professional and collegiate organizations, bringing brands to the youth sports space.

It is estimated that parents in the U.S. spend up to $40 billion a year on their kids’ sports activities and six hours a week on the field, so the money and attention is there for brands, and it is something they are now starting to pay attention to.

Over the past year or so we have expanded our services through TeamSnap for Brands to create the leading conduit for brands to reach youth sports families. We’ve created a service that utilizes hyper local targeting but with national scale and coordination. We offer brands direct access to digital and on-field sponsorship opportunities from one source.

What are your priorities for TeamSnap as you look to the future?

I would love to have TeamSnap in the hands of hundreds of millions of families across the globe. In the meantime, we are remaining focused on building innovative and valuable technology products for all participants across the ecosystem of youth sports. The sports tech landscape is going through a secondary evolution, and we are looking at adjacent tech, like video streaming and educational media, to see how they fit into our portfolio. We think that these types of technology will help accelerate our modernization and make a big impact in the market.

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“We created TeamSnap Impact in 2022 as a community impact program aimed at supporting youth sports and leveling the playing field for kids in underserved communities. We are dedicated to helping improve access to quality sports programs for all young athletes regardless of race, gender, religion, or socio-economic status.”

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Creating inspiration since 1927.

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Elevating Brands In Culture An Interview with Ed Horne, President, 160over90 EDITORS’ NOTE Ed Horne become President of 160over90 in July 2013. Prior to this, he served as Chief Operating Officer of Madison Avenue Sports and Entertainment, a global firm focused on talent representation, marketing, and media after having served in a number of positions at the National Hockey League, ultimately as Senior Executive Vice President. He has also served as Marketing Manager/Director for the National Football League. Horne earned a BA degree in English language and literature/letters from Fairfield University.

within the world of sports marketing and in 2013, I joined the organization to lead its global marketing business.

Shortly thereafter, IMG was acquired

by WME. It was an incredibly exciting time to be part of the merger between these two leaders in entertainment and sport, which to me signaled incredible opportunity for brands. I felt confident that my past roles at the NFL and NHL would set me up for success and provide value to the larger Endeavor Ed Horne organization. Our group later became known as Endeavor Global Marketing and following an aggregation of acquisitions, we created one unifying brand that is now 160over90.

AGENCY BRIEF 160over90 (160over90.com), Will you provide an overview of 160over90 part of the Endeavor network, is a full-service and how you define its mission? cultural marketing agency that elevates brands 160over90 is the award-winning cultural by connecting consumers to cultur e and marketing agency owned by Endeavor, the their passions. With nearly 20 offices globally, global sports and entertainment company.

160over90’s capabilities span content and We work with some of the world’s biggest video production, cultural strategy, creative brands, including Anheuser-Busch and Marriott development, creator marketing, digital services, International, to create shared moments and entertainment marketing, experiential, media experiences that invite their audiences to planning, partnerships, public relations, and feel something real. The name “160over90” social media. 160over90 works with leading references an elevated blood pressure and the brands including AB InBev, Audi, DP World, innate, thrilling human reaction to something Marriott International, USAA, and Visa. that is completely unexpected. This reaction is what we aim to instill among consumers You have held leadership roles at the NFL through our work elevating brands in culture. and the NHL. What interested you in the What have been the keys to 160over90’s opportunity to lead 160over90 and made industry leadership and how do you describe you feel it was the right fit? the 160over90 difference?

I started my career on the agency side so In a crowded marketplace, our work speaks the opportunity to come back to it in a leadership for itself. We are consistently named to top agency role was appealing. I was connected to a number lists, while our work and the leaders behind it are of people at IMG through my network and career honored through leading industry awards.

What makes 160over90 stand out is our ability to say we are a true cultural marketing agency. As part of Endeavor, we are deeply connected to the people, places, and properties that are trending today and beyond. This intel combined with the agency’s expertise help bring the brands we work with directly into culture. Our work with longtime client Anheuser-Busch demonstrates how we think about culture, uncovering opportunities to connect their brands across sports, music, fashion, food, and art. One way we’ve done this was during the pandemic with Michelob ULTRA, when we had to shift the creative fan experience to be one that could be enjoyed from home. We helped bring to life the Michelob ULTRA Courtside video wall, an immersive experience that brought a virtual crowd to the NBA “bubble.” Through screens built inside the arena, we were able to bring fans together to share in the excitement of the game in an entirely new way. While it’s great to see the return of live, in-person events, the brand is remembered for how it found a way to keep fans connected to culture.

Will you highlight 160over90’s services and capabilities?

We are a full-service global agency. With more than 800 employees operating out of nearly 20 offices across the world, we service brands through individual and integrated marketing functions. Our work with USAA is a great example of how the agency is uniquely positioned to activate across capabilities. We support the leading insurance provider across sponsorships and partnerships, PR, creator marketing, and experiential to create 360-degree programming that drives meaningful, measurable business results. Our integrated capabilities additionally support clients with global objectives like Visa and logistics company DP World.

“The name ‘160over90’ references an elevated blood pressure and the innate, thrilling human reaction to something that is completely unexpected. This reaction is what we aim to instill among consumers through our work elevating brands in culture.”

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“What makes 160over90 stand out is our ability to say we are a true cultural marketing agency. As part of Endeavor, we are deeply connected to the people, places, and properties that are trending today and beyond.”

How important is cultural relevance in the ability for a brand to thrive?

Cultural relevance is the ultimate currency for brands to win over the hearts and minds of today’s consumers. At 160over90, we say we’re obsessed with culture and it’s this obsession that propels us to deliver work on behalf of our brand partners that speaks to consumers where they already are and through what they are passionate about.

As an example, we paired 160over90 client Marriott Bonvoy with La Mar Taylor, an artist and creative director for The Weeknd represented

by WME, to produce the brand’s “A Legendary Affair” event for the Mercedes-AMG Petronas F1 team at the Ritz-Carlton during last spring’s Miami Grand Prix. La Mar Taylor curated the look and feel of the event to speak directly to the market’s F1 fandom and the consumer’s desire for premium, immersive experiences.

This partnership placed Marriott and the RitzCarlton at the center of cultural conversation, with resulting press and social buzz creating demand for the property.

How valuable is it for 160over90 to be a part of Endeavor and will you discuss this relationship?

Endeavor is the ultimate cultural powerhouse. As part of its network, 160over90 is uniquely positioned to offer brands unparalleled access to culture and the trends that will shape the future. Our clients benefit from leveraging the strategic, creative and activation resources through 160over90 as well as the cultural insights, access, and relationships through our network.

One way this comes to life is through our work with McDonald’s. A team comprised

of colleagues from 160over90 and across Endeavor helped secure IP and talent rights for the recent As Featured In campaign that celebrated the brand’s iconic cultural resonance across film and television. Securing the rights for over 20 different talent was no easy feat, and the effort underscores how it was only truly possible given our relationships and access through WME. How important is it for 160over90 to build a diverse and inclusive workforce to mirror the diversity of its clients and the community it serves?

Diversity, equity, and inclusion is of utmost importance to us. Just as our work reaches diverse communities across the world, we believe it is critical that our team reflects the full spectrum of voices, values, and perspectives of the audiences we’re looking to reach through our work.

160over90 also made a strategic investment in Obsidianworks, a culture-powered media and marketing agency co-founded by Michael B. Jordan (who is represented by WME) that speaks to diverse demographics and communities.

We’re proud to help Obsidianworks grow and deliver culturally relevant work that not only captivates consumers but inspires them, too.

Will you discuss 160over90’s focus on corporate responsibility and being a force for good in society?

We know that consumers put their support and wallets behind brands that take a stand, and they are just as quick to cancel those that don’t. As an agency, we don’t just see corporate responsibility as a standalone element within the marketing mix. We work with our clients to effectively, authentically communicate how

they are living and growing their purpose to spark positive change.

Working with Obsidianworks and WME Sports, we established with 160over90 client Invesco the Invesco QQQ Legacy Classic in 2021, a one-day doubleheader college basketball showcase featuring Historic Black Colleges and Universities. Now entering its third year, Legacy Classic continues to grow as a purpose-driven brand that is uniquely situated at the intersection of sports, advocacy, and culture.

Beyond the tournament itself, the program includes a startup pitch competition, career fairs, and musical performances.

How do you define the keys to effective leadership and how do you describe your leadership style?

I’ve learned that to be an effective leader, you need to be strategic in your decision-making and root it in both knowledge and instincts. At the same time, I think it’s important to recognize that being an effective leader doesn’t mean you can’t bring some humanity, empathy, and humility to the job.

I believe I’ve gotten to where I am today by being serially curious about the world around me, thinking differently, and proving the value of good marketing. As a leader, I try and instill these character traits among my teams to drive them to produce their best work.

What advice do you offer to young people beginning their careers?

Build relationships, stay curious to avoid becoming complacent, and seek out the opportunities that allow you to express your individuality and strengths. Where you are lacking in skill or experience, work hard to overcome it.

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“Cultural relevance is the ultimate currency for brands to win over the hearts and minds of today’s consumers. At 160over90, we say we’re obsessed with culture and it’s this obsession that propels us to deliver work on behalf of our brand partners that speaks to consumers where they already are and through what they are passionate about.”

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PURPOSE

A Human Approach To Change An Interview with Brad Deutser EDITORS’ NOTE Brad Deutser is as pieces of a unique and growing the visionary leader behind Deutser puzzle. And, that puzzle continues (deutser.com) and Deutser Clarity to expand today. I always wanted to Institute which has leadership write a book; little did I know I would lear ning labs in Houston, New write two best-selling books, the most York, Bermuda, and Arizona. He is recent being Belonging Rules: Five also the founder of the Institute for Crucial Actions That Build Unity and Belonging (instituteforbelonging.

Foster Performance. com). He is a trusted counselor, Ringling was foundational for me executive coach and leadership as a person and a leader. It was here guru for CEOs, Board Chairs, that I first thought about belonging – and top corporate management. on the road with the other misfits like Brad Deutser His unique insights and original me, trying to find my way and fit in. As approach to affecting a human a regional marketing director (old timey appr oach to sustainable or ganizational promoter), I worked for $250 a week and all the change have impacted top businesses, leading circus tickets I could trade while living on the universities, professional sports franchises, and road for a year and promoting the circus in one cause-based organizations. He is an expert in city after another. Following that experience, I creating spaces and leadership capacity for joined a marketing firm (at the time all women) – belonging and inclusion. Deutser is recognized the inventors of the cause marketing space. To for his ability to navigate complex, contentious, me, it was like going from one circus to another. ambiguous business and people challenges, It was amazing and life changing. I learned so both inside and outside organizations. He is much about being the outsider and about how sought after as an authority and innovative companies with a corporate soul change the thinker on matters of organizational change, world and their business. I am forever grateful belonging, and complexity in leadership. He is for that experience. the bestselling author of Leading Clarity: The Breakthrough Strategy to Unleash People, Profit, and Performance and Belonging Rules: Five Crucial Actions That Build Unity and Foster Performance.

Will you discuss your career journey?

In a word: unexpected. My journey has been amazing – filled with ups and downs.

I never would have imagined being rejected by more than 57 companies as I applied for jobs following my senior year in college, turning down the opportunity to own my dream summer camp at age 27, being fired not once, but twice (the first time for saving a woman from being murdered while working for a low income apartment project), working for a solicitors firm in London, England as the “great American lawyer,” retiring early from law school, shoveling elephant poop for Ringling Bros. and Barnum & Bailey Circus, and being a token male in an all-female company, all before my career really even began.

The diversity of my career has been a wonderful gift. To some looking in, I was a nomad, wandering from experience to experience. Instead, I saw each of the experiences 94 LEADERS

Brad Deutser discussing his most recent book, Belonging Rules: Five Crucial Actions That Build Unity and Foster Performance (top); and conducting leadership seminars (above and opposite page)

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“In 2001, I began my own company, at first working through complex communications issues for clients, before evolving into where we are today as a firm that focuses on a human approach to change. I have brought in unbelievably talented people – social scientists, creative experts, and business strategists, among other disciplines – to genuinely help clients and leaders change across the world.”

My journey brought me back home to a marketing and advertising agency, where I oversaw the most complex communication and creative issues for clients. After nearly 10 years, many of which I was the firm’s leader, the owner of the firm passed away, and to my surprise, his family wanted to take the business in a different direction, without me. Fired and with a young family, I was lost. I knew one thing – I wanted to be in a business where I could impact people’s lives. Thus, the journey to where I am today.

In 2001, I began my own company, at first working through complex communications issues for clients, before evolving into where we are today as a firm that focuses on a human approach to change. I have brought in unbelievably talented people – social scientists, creative experts, and business strategists, among other disciplines – to genuinely help clients and leaders change across the world. My business has evolved and expanded in many important and intentional ways, including the creation of “Willy Wonka” styled leadership learning labs (Houston, Austin, New York, Bermuda, as well as a sports lab in Arizona) and the Institute for Belonging.

Will you provide an overview of Deutser’s services and capabilities?

Deutser is a consultancy that designs people-focused change solutions. Our team of consultants and creators applies a data-driven, design-focused, and uniquely human approach to solve any leader’s most complex and challenging problems. Our firm helps leaders and teams transform organizations with cultural, strategic, and experiential change initiatives, creative inspiration, and empowered personal growth.

We integrate proprietary research, culture, strategy, and design to ignite and feed the flames of transformation, creating positive change that lasts. Deutser’s expertise draws from multiple disciplines, providing an integrated, multifaceted approach to enhancing performance and harnessing the potential of people. Our process is raw, diverging from traditional playbooks. As such, our work can be hard to classify: we do everything from setting strategic imperatives to designing state-of-the-art spaces to walking leaders through their most challenging crises.

But, as we’ve learned over the past 20 years, it always comes back to unlocking the potential of people. Our services include consulting, learning labs, and tools and assessments.

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Our consulting work is multi-faceted and deeply integrative, with our primary areas of focus being culture, strategy, research, brand, experiential safety, and coaching and development.

Will you discuss the opening of the Institute for Belonging and your views on the impact of the Institute?

This has been a dream of mine for a long time. I have always wanted to marry the best of our research with highly tactile, human-focused experiences. That is what we have created with the Institute. The Institute for Belonging serves as a think tank, idea accelerator, and experiential learning center devoted to advancing the science and practice of belonging – at work, at home, in

our communities, and in our broader society. Its reach is extended as it supports groundbreaking research, transformative dialogue, and sciencebased leadership development. The work and research are meant to inspire progress on the most complex organizational and societal challenges evolving in our society today.

To extend the reach and impact of the Institute’s research, the organization has put out a global call for fellows, scholars in a variety of fields, who are conducting basic and applied research on human-centered leadership and belonging. The goal is to bring together and collaborate with leading minds in the field and provide financial support for this important

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work. We believe that diversity of thought and perspective are vital to advancing the change our societies and organizations need, and bringing scholars, practitioners, and experts together in the spirit of engaging in challenging discourse and applying data-driven, innovative insights will advance this mission.

Within the Institute for Belonging, we have created the Belonging Lab, which is focused on human-centered leadership as experienced as an interactive, intentionally designed space that blends the latest science in groundbreaking form. It features “living exercises” that encourage open dialogue and brainstorming on divisive and complex issues where leaders come together to understand, work and lead through society’s most charged and difficult issues and conversations.

This space is where brave and resilient people, leaders who are tired of avoiding the conversation or allowing polarizing forces to win, can come together in the spirit of creating healthier communities and organizations, leading their people towards a more desirable, united, and empowered future. The space is tactile and memorable, applying Deutser’s Dimensional Leadership Learning Methodology to ensure that the conversations that take place have positive and sustainable implications. The goal is to create an inclusive yet challenging environment where people can come together to transform – themselves, their teams, their organizations, their communities, and our world – for the better.

What are your views on how to create a team mentality in an organization from your background with the NFL? High-performing teams are high-performing teams regardless of the industry. Our approach is designed ar ound cr eating spaces of belonging and bridging differences to enhance performance. We infuse the belonging rules throughout the work and mindset: turn into the power, listen without labels, choose identity over purpose, challenge everything, and demand 100 percent of the truth. At the core of our work and teaching is an innate commitment to leading self and others. Our work with teams in the NCAA and NFL (as well as with companies around the world) always begins with shared understanding and the commitment to a shared identity and cultural ecosystem.

What is the importance of the “moveable middle” in any organization?

In belonging there is room for everyone and, as such, requires attention be given to the whole. However, those on the extremes are the most vocal, fueled by a surety that they are right, and deeply attached to achieving goals that serve their specific agenda. The momentum generated by the extremes can distract and dissuade us from the real conversations and understandings needed to create community and foster belonging. Effective, sustainable efforts cannot answer any extreme. Real transformation lies in what I call the “movable middle.”

This movable middle is made up of those who are willing to evolve, change, and grow with you. Those in the middle often feel they have 96 LEADERS

been silenced, overlooked, or underrated so they often are more willing to do the work of listening, learning, and engaging rather than demanding or disconnecting. Those in the movable middle thirst for information and understanding. They do not want to be “advertised to” or told what to think. As leaders, our goal in the middle is not to win over, but simply provide information and perspective and then to trust them to make their own thoughtful decisions. Even if they are different from our own.

Efforts to bring people into the center of discussion with the aim of working together toward desired outcomes give belonging necessary roots. It is in the middle where answers can be vetted. It is in the middle where solutions can be born. The middle is a place where people can come together in a safer place to share – not with the goal to divert or change someone’s thinking or deeply held beliefs, but with the goal to simply talk about, learn more, and share openly from different perspectives. All are invited and equally recruited to join in creating a new reality. And this should be evident in every aspect of the organization. It is in this group where we create the movements to achieve our company goals and change our future.

How can an of fice design impact employee retention?

Our relationships to our spaces create our experiences. Spaces should tap into the ethos of who we are, what we believe, and how we best work together to facilitate unity, connection, and performance. Space should inspire people, promote access and ease the movement of how work gets done, invite meaningful conversations and encourage natural collaboration. Leaders must invite people in and then cr eate experiences that foster belonging, unity, and performance. Too many high-end offices are sterile environments where employees must work to fit. Or, they are a collection of past eras and outdated features that no longer apply or inspire energy and meaning into the work. Instead, leaders should lean on space as a driver of positive emotions, engagement, meaning, and ultimately, well-being. The design of where you all work together can ultimately foster connection, reclaim or redefine identity, and propel all forward toward newfound and amazing outcomes. Designing the experience of belonging is not a one-time effort, but rather an ongoing process that requires thoughtfulness, attention, and refinement – like any good design.

Designing spaces that meet the needs of the people is vital to the longevity of the organization, and imperative for fostering cultures of belonging. And this effort pays off for ROI from a business perspective. Our research has shown with surveys of nearly fifteen thousand employees across varied industries and across occupational roles that not only is belonging a critical determinant of employee satisfaction, engagement, and effort, it is the most important predictor of these outcomes.

We have seen the impact of space on retention directly in our work. For example, we designed a learning lab for a multi-strategy hedge fund, core to their values of innovation

and mindfulness. We learned that creating spaces like this not only enhances retention, as they had less than 5 percent voluntary turnover, but it also invites meaningful discourse and, challenges people to learn together and support one another in different ways, as colleagues and, more importantly, as leaders and human beings.

Further, we have seen the impact of even simple changes, like placing “collaboration stations” at thruways in offices for collaboration and connectivity. These stations, where employees can come together to dialogue about different types of issues, are intentionally designed for standing meetings, making them spaces where interaction is not only normed but a different type of meeting is encouraged.

Standing meetings save time, yielding greater efficiency, but these open and inviting stations also pull people out of their offices and into a different type of meeting space. It lets others who walk by hear the conversation and engage with their ideas. These types of spaces not only enhance retention, but also satisfaction, creativity, and performance.

Whether it is physical space or the expectations and norms that create psychological space, leaders have a duty to consider how people experience the organizational environment, and how they can design spaces that people want to fit in, that they can flourish in and enable creative collisions, intentional connections, and focused work.

What advice do you offer to young people beginning their careers?

Dream. Do not let today’s constraints limit tomorrow’s vision. If you do not believe in you – then who will. Create your own scoreboard. I have never been driven by money – only by doing good. If I started a company to make money only, I would fail. I have to be me. I want people to think about what makes them happy – and choose that path. I embrace all that it means to be a human-centered leader and to lead with positivity even in the darkest moments – it is my way of life. I also encourage young people to keep learning – always evolving and experiencing different things and perspectives.

And choose to take ownership of your own life.

Life is not TBD (to be determined) – it is TBD (to be designed) – you have the ability to do great things – be open to what is ahead.

Also, embrace the leader in you – you are born to lead – maybe it is one (you) or maybe it is many, but commit to being self-aware and to working on your innate and unique leadership talents. It will serve you throughout your life.

And, finally, I encourage people to adopt the belonging rules and work to apply them in all facets of their work and life. It gives a framework to navigate through the chaos and transitions that life puts in our pathways. When we commit to being human-centered leaders, we are more open, more accepting, more vulnerable, and ultimately more able to invite people into our own dreams, hopes and vision for what can be.

Go out of your way to create spaces for not only you to belong, but others too. Enjoy the ride – including the ups and downs – it is magical, and it is all yours.

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WOMEN LEADERS

Contents See Yourself Tina Perry, President, OWN TV Network and OTT Streaming

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Clinical Excellence Jodi L. Cohen-Ansari, MPA, Chief Strategy Officer, Mount Sinai Health System

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Strengthening Trust And Transparency In The Capital Markets Dipti Gulati, Chief Executive Officer, U.S. Audit & Assurance, Deloitte & Touche LLP

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A Quarter Of A Century Of Goodman Banner Waving For Las Vegas The Honorable Carolyn G. Goodman, Mayor of Las Vegas

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Inclusive And Collaborative Ke (Kelly) Yang, Senior Vice President and Head, Corporate Banking Department; Rachel Ye, Senior Vice President and Head, Enterprise Risk Management Department; and Tripti Singh, Vice President and Head of Policy, Communication, Advisory, and Training, Legal and Compliance Department, Bank of China U.S.A.

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Placemaking Rebecca D’Eloia, Executive Vice President, Development, RXR

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Responsible Growth Tram Nguyen, Global Head of Strategic and Sustainable Investments, Bank of America

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Smarts, Heart, And Courage Lisa Lutoff-Perlo, Vice Chairman, External Affairs, Royal Caribbean Group

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Inspiring The Next Generation Wendy Hilliard, Founder and Chief Executive Officer, Wendy Hilliard Gymnastics Foundation

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Three Pillars Of Generative AI Lan Guan, Chief AI Officer, Accenture

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Partnering With Clients Tracy Francis, Senior Partner and Chief Marketing Officer, McKinsey & Company

Advancing Medicine Tiffany Sullivan, Senior Vice President and Chief Operating Officer, NYP Physician Services, NewYork-Presbyterian

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Artist First Julie Swidler, Executive Vice President, Business Affairs and General Counsel, Sony Music Entertainment

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Creating A Real Connection Loreen Babcock, Senior Vice President and Chief Marketing Officer, Montefiore Einstein

A People Organization María del Mar Martínez, Senior Partner, Global Risk & Resilience Practice Co-Leader and Global Chief Diversity, Equity and Inclusion Officer, McKinsey & Company

Navigating The Unexpected Elizabeth (Liz) Brill, Senior Vice President and Chief Actuary, New York Life Insurance Company

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A Collaborative Culture Linda M. Doyle, General Counsel, McDermott Will & Emery

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A Team Of Futurists Rema Serafi, Vice Chair – Tax, KPMG LLP

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People-Centered Ilene Anders, Chief Financial Officer, Alliant Insurance Services

The Power Of Theater Lauren Reid, President, John Gore Organization

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Dream Big Hilary Allard Goldfarb, Senior Managing Director, Mid-Atlantic, Rockefeller Group

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The Three Ps Beata Kirr, Chief Impact Officer, The Copia Group

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Sensual

Fascination in the most alluring shapes.

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WOMEN LEADERS

See Yourself An Interview with Tina Perry, President, OWN TV Network and OTT Streaming EDITORS’ NOTE Named President Stanton Award in 2021, was named of OWN: Oprah Winfrey Network to Ebony magazine’s Power 100 list, in 2019, Tina Perry oversees all was honor ed at the Multichannel operation and creative areas of News Wonder Woman Awards in the network, reporting to O W N 2020, as one of the Cablefax 2020 Chairman and CEO Oprah Most Powerful Women “Wavemakers,” Winfrey. Her leadership is a driving and received the Women in Cable force behind the network’s ongoing Telecommunication’s LEA Award in evolution to become the leading 2019. Perry holds a JD degree from destination for Black audiences. She Harvard Law School, an MS degree also oversees OWN’s robust digital in comparative social policy from the division including the network’s TVE University of Oxford, and graduated Tina Perry Everywhere product WatchOWN; with Honors from Stanford University. award-winning website Oprah.com; flourishing podcast business; and OWN on d+, Will you discuss the history of OWN: Discovery’s dir ect-to-consumer str eaming Oprah Winfrey Network and how you service. Perry was instrumental in OWN’s define OWN’s mission? successful launch into scripted programAs one of the only cable television ming with popular drama series Queen Sugar, networks named after a person, the Oprah Cherish the Day, Greenleaf, The Haves and Winfrey Network (OWN) was first launched the Have Nots, the Peabody Award-winning on January 1, 2011 to celebrate life and to David Makes Man, The Kings of Napa, and All inspire and entertain viewers to live their best Rise as well as the annual holiday movies on lives. It is a joint venture between Warner Bros.

OWN. She oversees the continuing success of the Discovery and Harpo Studios with Oprah as network’s lineup of unscripted hits that includes, the CEO and north star of the business. The Love and Marriage: Huntsville, Ready to Love, network has grown over the years to air origBelle Collective, Family or Fiancé, Black Love, inal scripted and unscripted content, propel and Put A Ring On It, in addition to the digital properties and podcasts, support several Daytime Emmy-award winning Super Soul national social good campaigns, and showcase Sunday. She has also shepherded the creation its content on MAX, WBD’s direct-to consumer of special OWN Spotlight programming that streaming service. tackles important issues including Oprah’s twoToday, OWN’s brand promise to our night town hall on racism in America, Where viewers, African-American women between the Do We Go From Here? and the premiers of ages of 25-54, is to “See Yourself.” In support of Time of Essence and Rebuilding Black Wall Street. Perry is a champion of OWN’s social good initiatives including OWN’s a w a r d winning, get-out-the-vote and r e g i s t r a t i o n c a m p a i g n O W N Yo u r Vo t e , O W N Your Health, and most recently OWN Your Shine, launched along with OWN’s first-ever Juneteenth activation. She is a passionate advocate for the nuanced representation of Black women in media, spearheading OWN’s collaboration with the ANA’s SeeHer. Perry serves on the OWN Board of Directors, The Paley Center for Media’s Los Angeles Board of Governors, the Television Academy Foundation’s Board of Directors, the Board of Directors of The Friends of the Saban Community Clinic, the Board of the Hollywood Radio and Television Society (HRTS), and in 2021 was elected to the Board of Directors of Blucora. Perry was recognized with the Center for Communication’s

this promise, our mission is to provide authentic and accurate representations of Black women while entertaining and inspiring our audience.

What interested you in leading OWN and made you feel it was the right fit?

I first joined as part of the OWN Business and Legal Affairs (BALA) team. From there, I was promoted to lead the BALA team, given more responsibility, joined the OWN board and in January 2019, I was elevated to president of the network.

I was always interested in the entertainment business because of the impact it has on society and culture. Through storytelling, media can educate, encourage empathy, and expose people to new cultures, races, ethnicities, and sexual preferences all while entertaining an audience. So, when the opportunity presented itself to be part of a multi-platform media brand and work closely with Oprah Winfrey, a visionary, hyper-creative, and intentional leader with a sharp business acumen, I jumped at it.

As icing on the cake, the brand has an elasticity that allows for the production of specialized programming that focuses on timely social and/or cultural issues affecting Black women and important social good campaigns.

Will you highlight the network’s ongoing evolution to become the leading destination for Black audiences?

Early on at the network we noticed there was a Black female demographic that was underserved in the cable television landscape.

We identified this specific viewer because she

“Today, OWN’s brand promise to our viewers, African-American women between the ages of 25-54, is to ‘See Yourself.’ In support of this

promise, our mission is to provide authentic

and accurate representations of Black women

while entertaining and inspiring our audience.”

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OWN President Tina Perry speaks at the Television Critics Association Tour in Beverly Hills

was watching Black docuseries such as Sweetie Pies, Iyanla, and Fix My Life and coming in for this unscripted programming in large numbers.

So, we decided to continue to develop and produce more of this programming, and she continued to show up.

In 2013, we entered an exclusive deal with Tyler Perry to produce, write, and direct scripted programming specifically for this target audience. Starting in 2016, we decided to super-serve this audience with rich premium scripted series like Greenleaf, Queen Sugar, David Makes Man, Cherish The Day, and All Rise. Right now, OWN is the #1 non-sports destination for Black viewers every Saturday night, thanks to our hit unscripted series Love & Marriage: Huntsville.

Will you provide an overview of OWN’s robust digital division and where you see opportunities for growth in this area?

Our digital division consists of OWN on Max (WBD’s direct to consumer business), the network’s TVE Everywher e pr oduct (WatchOWN), a robust podcast business, the award-winning website Oprah.com, and a newsletter business. I’m very excited by the growth opportunity of OWN on Max. The ability to share our content directly to consumers provides incredible reach.

Also, over the last several years we launched two extremely successful social campaigns: OWN Your Vote, our non-partisan get out the vote campaign, and OWN Your Health, a multi-faceted campaign which aims

“I think Oprah and I both know there is only one way to run a successful business and that is with intention. When facing any key decision, the narrative of ‘what is our intention’ is something we both discuss.”

to bring awareness and resources to promote health and wellness among Black women.

These campaigns each thrive via strong digital components and present many digital growth opportunities for the business, particularly as brands are excited to partner with us on these initiatives.

What do you feel are the keys to effective leadership and how do you describe your management style?

My management style is highly democratic as I trust my team implicitly. I also encourage group feedback and have actively worked to foster an environment that supports innovation and transformation. As an executive, collaboration, empathy, selfawareness, and integrity are prime cornerstones and very important to me in my leadership role.

What has made the working relationship between you and Oprah work so well?

I think Oprah and I both know there is only one way to run a successful business and that is with intention. When facing any key decision, the narrative of “what is our intention” is something we both discuss. I think our relationship works well as we both believe in healthy debate, being malleable, and never forgetting that there is a clear delineation between understanding big picture and wallowing in the weeds.

Do you feel that there are strong opportunities for women to grow and lead in the industry?

Absolutely. In entertainment, businesswomen have made enormous strides. Although the television industry is male dominated, we have seen tremendous women lead with aplomb and garner tremendous successes. I have been personally inspired by Debra Lee, Kathleen Finch, Dana Walden and then, of course, Oprah Winfrey.

One of the things I really admire is when women get behind other women and one of the most inspiring examples I personally witnessed was when Ava Duvernay was creating Queen Sugar. Right at the beginning, she made the decision to only hire women directors. That pledge ultimately led to the enlistment of 41 female directors and all the more impressive at the time, she was a relative newcomer to television herself having directed just one episode of Scandal before Oprah tapped her to lead Queen Sugar.

What advice do you offer to young people beginning their careers?

I’d say first off, learn to be a good listener.

Truly listening to others is a very specific skill, and it’s something one must work at just like every other professional skill. I’m not saying everything one hears should be taken for gospel.

However, as a leader, it is imperative to be openminded and to embrace others’ opinions via active listening. Listening will ultimately help you advance in your career as you will be more informed and prepared for key decision-making.

I believe firmly that this skill will benefit one’s personal life as well, and a well-rounded work/ personal balance is truly quite important.

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WOMEN LEADERS

Strengthening Trust And Transparency In The Capital Markets An Interview with Dipti Gulati, Chief Executive Officer, U.S. Audit & Assurance, Deloitte & Touche LLP EDITORS’ NOTE Dipti Gulati is the How do you describe Deloitte’s chief executive officer of Deloitte’s U.S. culture and values?

Audit & Assurance business, leading Deloitte’s values are rooted in more than 18,000 professionals. In making an impact that truly matters for her role, Gulati is responsible for the our people, clients, and society. We delivery of high-quality client service foster a culture in which our people excellence, developing diverse teams, feel empowered to drive positive and driving innovative audit and change every day through a foundaassurance services that bring integrity tion of inclusion, collaboration, ambiand trust to the capital markets. With tion and opportunity. We celebrate more than 30 years of experience, differing opinions, ideas, cultures, and Gulati has served some of the largest backgrounds. Ultimately, we believe Dipti Gulati global public companies, primarily that to thrive as a business, our people in the financial services industry, must also thrive, so our ambition is and is recognized for her commitment to client to create a culture that ensures everyone is excellence and quality. She has held domestic empowered to reach their full potential. and international roles that enable her to bring a What have been the keys to Deloitte’s breadth of experiences and insights to her complex industry leadership? global engagements. Over the course of her career, To be the largest professional services orgaGulati has held several leadership roles, including nization in the world and deliver services of the as a member of the Board of Directors of Deloitte highest quality to our clients, capital markets, U.S. and its Risk and Regulatory Committee, and communities, it all starts and ends with our Managing Partner of the East region for the U.S. people – our greatest asset. In this era of great Audit & Assurance business, and the Capital disruption and transformation, we want our Markets Industry Professional Practice Director. professionals to gain and continue to hone critGulati prioritizes investing in her community and ical technology and leadership skills, be proud serves as a Board member and Audit Committee of the work they do, and be provided with a Chair for the United Way of New York. Gulati is level of flexibility in how and where work gets a graduate of Lehigh University with a degree in done. Being purpose-driven and investing in accounting and earned her MBA from Columbia our talent underpins all we do and is executed Business School with a concentration in Finance. through our multidisciplinary model which She is a licensed CPA in New York, New Jersey, and fosters interdisciplinary thinking and allows us Pennsylvania, and a member of the American to deliver impact across stakeholders – clients Institute of Certified Public Accountants.

FIRM BRIEF Deloitte (deloitte.com) provides industry-leading audit, consulting, tax, and advisory services to many of the world’s most admired brands, including nearly 90 percent of the Fortune 500 and more than 8,500 U.S.-based private companies. Deloitte’s purpose is making an impact that matters by creating trust and confidence in a more equitable society. The firm leverages its unique blend of business acumen, command of technology, and strategic technology alliances to advise its clients across industries as they build their future. Deloitte is part of the largest global professional services network serving its clients in the markets that are most important to them.

Bringing more than 175 years of service, Deloitte’s network of member firms spans more than 150 countries and territories. As used in this document, “Deloitte” means Deloitte & Touche LLP, a subsidiary of Deloitte LLP. 102 LEADERS

value our breadth of capabilities, our people value the diversity of career paths, markets value the quality of services, and communities value the impact we make.

Will you highlight your role and areas of focus?

As CEO of Deloitte’s Audit & Assurance business, I lead approximately 18,000 U.S. Audit & Assurance professionals around our core responsibility of strengthening trust and transparency in the capital markets. As public company auditors, delivering high-quality audits is the foundation of my agenda, including building a culture of continuous improvement and investing in our people, processes, and technology. In a time of transformation and disruption, I am also focused on ensuring our people have the opportunity to gather a variety of professional experiences that broaden their perspective, interacting with a sophisticated technology platform empowered by emerging technology like Generative AI. Additionally, I work to ensure our voice as a leading professional services organization is used to bring awareness and champion critical issues affecting the accounting profession, including attracting talent, audit quality, and U.S. public company reporting.

Will you provide an overview of Deloitte’s U.S. Audit & Assurance business?

As the sustained quality leader of the audit and assurance profession, we are relentless in supporting our quality-first culture and

“Being purpose-driven and investing in our talent underpins all we do and is executed through our multidisciplinary model which fosters interdisciplinary thinking and allows us to deliver impact across stakeholders – clients value our breadth of capabilities, our people value the diversity of career paths, markets value the quality of services, and communities value the impact we make.”

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“As CEO of Deloitte’s Audit & Assurance business, I lead approximately 18,000 U.S. Audit & Assurance professionals around our core responsibility of strengthening trust and transparency in the capital markets.”

are vigilant in prioritizing quality at the core of all that we do. Our Audit & Assurance business focuses on delivering audits of the highest quality. Our work – Deloitte audits companies that represent approximately $13 trillion of market capitalization – enable the capital markets to trade with trust and confidence and facilitate capital formation that enables existing businesses to grow and expand, and entrepreneurs to raise the capital that fuels innovation.

Our investments in our people – our greatest asset – and technology advancements, such as our proprietary, next-generation cloudbased platform, Omnia, have enabled us to deliver high-quality audits and enrich our adjacent capabilities and offerings – such as our Sustainability and Environmental, Social, and Governance (ESG) assurance services and other expanded assurance services.

Our Accounting and Reporting Advisory (ARA) services advise businesses across a variety of industries to help meet their important accounting and financial reporting requirements and keep pace with changes driven by updated financial accounting standards, a complex global economic environment, new regulatory requirements, and evolving societal expectations. We are well-positioned to meet the growing demand for more holistic trustbased services.

How important is it for Deloitte to build a diverse and inclusive workforce?

Deloitte has a long history of shaping corporate America’s inclusion landscape with many firsts in the industry – naming the first woman chair in 2003, the first Hispanic CEO in 2011, and the first woman CEO in 2015 of any Big Four firm. We are proud to have made early investments in our people and our culture. With this backdrop of firsts, diversity, equity, and inclusion remains core to our values and our talent experience. We celebrate our people not for how well they fit into our culture, but for everything they bring to it. We are committed as an organization to continuously evolve our diversity and inclusion approach to meet the changing needs of our workforce and drive new ways of thinking for the greatest impact.

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We are active in the community, collaborate with our clients to share leading practices and support their DEI journeys, and team up with other organizations that share our commitment to a diverse and inclusive workforce and driving more equitable outcomes.

What do you see as Deloitte’s responsibility to be engaged in the communities it serves and to be a force for good in society?

Deloitte was founded with the mission of enhancing trust in capital markets during the birth of professional accounting. While we’ve since expanded into other businesses, we remain steadfast in our commitment to foster trust and confidence within institutions and help solve some of society’s greatest challenges. What is different today is the clarity of our purpose and the expectations that many of our clients, people, and communities have for the role that Deloitte and other organizations play in building impact beyond profit. As an organization, given our size, breadth, and capabilities, Deloitte is in a position to make an outsized impact for our people, our clients, and our communities by embedding our purpose into our culture and operations and influencing societal change across a number of focus areas including health equity, workforce development, financial inclusion, and climate sustainability.

Do you feel that there are strong opportunities for women in leadership roles in the industry?

There is opportunity for women in leadership, but we all have to be accountable to addressing the persistent systemic and cultural barriers that can hold women back in order to truly unlock significant progress. Looking at the financial services industry (FSI) as a marker, the number of women in financial services who reach to the highest levels of leadership in the C-suite and the board is rising. Women now account for 18 percent of FSI C-suite positions globally. But, without a more concerted effort, global growth in the share of women financial leaders may not even reach 25 percent by 2031, according to a Deloitte report released over the summer. Advancing equity for women to rise and thrive in leadership isn’t about a single

program or initiative – it will require targeted actions at the organizational and individual level.

Organizations should identify and address the systems that have historically created barriers for women to advance, and leadership needs to be more accountable in building up inclusive leaders and encouraging their teams to commit to more diversity in sponsorship.

You began your career at Deloitte as an intern. Will you discuss your career journey?

As an immigrant who grew up in a traditional Indian household, I had incredibly supportive parents, but they made two expectations very clear – graduate from college and get a full-time job. You can say accounting is in my DNA because my father was a licensed CPA, but I didn’t find my way to an accounting course immediately in college. But once I did, I fell in love. While pursuing my accounting degree, I joined Deloitte as an intern and rejoined full-time once I had my degree in hand. What I equate to my longevity and ascension at Deloitte really speaks to the value of the professional services industry and our culture. That’s because while rooted in accounting as a discipline, I was exposed to diverse opportunities to hone strategic thinking, problem-solving, and collaboration skills that included a multi-year overseas assignment which really helped expand my view of global business; broaden my network of relationships; and experience how to harness diversity of thought, experiences, and backgrounds into a high-performing team. Upon my return to the States, I was admitted to the partnership and continued honing the discipline of client excellence through serving some of the most notable financial services organizations. Broader leadership opportunities came, including leading the East region for our Audit & Assurance business, and as a member of Deloitte’s U.S. board. But the journey was not without its challenges – soon after the birth of my first child, I was conflicted about being a committed mother while meeting the expectations of a partner. I asked for a reduced work schedule, and with Deloitte’s support, I was on a reduced work schedule for five years, had two more children, and ultimately was afforded the flexibility I needed to be my best self. Upon return to full-time, we were faced with the financial crisis of ’08 which required tough decisions and ultimately reinvention and resiliency to bounce back stronger than before.

As I reflect on my journey to CEO, it’s clear I had to take a step back along the way so I could step up when the time was right, and that there are people around you that will help you get there, even if you can’t find it within yourself at any given moment.

What advice do you offer to young people beginning their careers?

Be brave in terms of asking the question, of raising your hand, of looking for opportunities. Support each other. Stay curious. In an era of disruption, commit to continuous learning and reinvention because regardless of where any of us are in our careers, the things we are focused on today won’t be the same in the years to come.

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A Quarter Of A Century Of Goodman Banner Waving For Las Vegas An Interview with The Honorable Carolyn G. Goodman, Mayor of Las Vegas EDITORS’ NOTE Carolyn Goodman the Year in Education. She is also the became the mayor of the city of Las recipient of the Frances Riker Davis Vegas on July 6, 2011. In 2015, Award for public service from her high Mayor Goodman was handily school alma mater Brearley. Mayor re-elected to another four-year Goodman began work in the hotel term. In 2019, she was elected to a industry. Prior to that, she worked as a third term, garnering more than 80 vocational counselor in West Las Vegas percent of the vote. Mayor Goodman for the Department of Labor training has been an advocate of Las Vegas’ and building employment opportuni$44.9 billion tourism industry ties for African Americans in a thenand is a board member on the Las segr egated city. Mayor Goodman Vegas Convention and Visitors attended and graduated from Bryn Carolyn G. Goodman Authority. She also serves on the Las Mawr College where she served as Vegas Global Economic Alliance Student Government President and (LVGEA), Las Vegas Events, the Southern Nevada earned a degree in sociology and anthropology.

Tourism Infrastructure Committee, the Regional She earned a master’s degree in counseling at Transportation Commission, the Transportation the University of Nevada, Las Vegas.

Safety Commission, and the Clark County Regional Flood Control District. She is chair of the Will you highlight your career journey and Las Vegas Redevelopment Agency and serves on what interested you in public service? the UNLV Medicine Community Advisory Board; I have always been active in social service the Governor’s Technical Advisory Committee as expected by my parents, but never had an for Clark County School District Reorganization; interest in political service. When we moved to the Governor’s Commission on Tourism; and Las Vegas in 1964 from the East Coast, I first the U.S. Environmental Protection Agency worked in the hotel industry (the Riviera) in (EPA) Local Government Advisory Committee. public relations and marketing and then for the She is a founding member of the UNLV School founding president and head of the casino at of Medicine Community Engagement Board. the newly opened Caesars Palace. Thereafter I Mayor Goodman also serves on the Blue Ribbon became a stay-at-home mother busy raising our Committee for Clark County Child Welfare four little children who were only 42 months Services. Additionally, she holds national lead- apart. In fear of my brain atrophying, I pursued ership roles as a member of the United States a master’s degree at UNLV at night to keep my Conference of Mayors (USCM), is a member of its brain cells alive and active. As the children Advisory Board, vice-chair of its Jobs, Education aged into preschool, my spare time was spent and Workforce Committee, and serves as the evaluating the community’s public education Chair of the Mayors’ Business Council. In June programs and by the time all my children were in 2013, she hosted the 81st annual gathering of elementary school, I realized a need for another the National Confer ence of Mayors in Las educational option in Las Vegas and worked to Vegas. The USCM honored her with the Mayors’ develop what would become Nevada’s first and 2014 Large City Climate Protection Award. only nonprofit, nonreligious, independent, pre-K Mayor Goodman is well known in the Las Vegas through 12th grade college preparatory school – community for founding The Meadows School teaching immersion Spanish and computer from in 1984, Nevada’s first nonprofit, college prepa- its opening. After managing that school daily ratory school for pre-kindergarten through for 26 years (without salary), I planned to retire 12th grades. She was recognized nationally by as my husband, Oscar, was finishing his third the Council for Advancement and Support of and final term as Mayor of Las Vegas. While I Education (CASE) and the National Association had held elected offices in school and had of Independent Schools in 2006 with the Seymour been President of the Student Government at Preston Trustee Award for Leadership. In 1989, my college, I had never given any thought to the University of Nevada recognized Mayor running for any political office, ever. However, Goodman with the prestigious “Distinguished our then grown children were about changing Nevadan” award and in 2006 bestowed upon that by pointing out that there were so many her an Honorary Doctor of Laws degree (PhD). projects and plans that their father had started In 2010, UNLV announced her as Alumni of in his 12 years which needed to be finished, so 104 LEADERS

they pushed, and I ran. Being elected in 2011, it was the first record in the nation of a spouse swearing in a spouse sequentially into the same public office. I am now serving in my third and final term completing what will be a quarter of a century of Goodman banner waving for Las Vegas. What has excited me for all of these years has been what a unique and surprisingly wonderful place this is to live, raise a family, enjoy life, and invest. We take great pride in the fact that our city is as diverse and rich in population, nationalities, religions, races, cultures, and talents as there is in the world. Everyone works and is important to building this worldclass community. All are welcome to become active parts of pursuing their dreams in Las Vegas, a city where those dreams still can come true, and which propelled me to run for mayor.

How do you define the Las Vegas advantage and what makes Las Vegas a leading destination for business and tourism?

Never bet against Las Vegas for there is always the Las Vegas advantage. We are the world’s top destination for travel, entertainment, and fun and for business gatherings, meetings, and conventions. Our stellar reputation for hospitality in our world-class resorts,

Mayor Carolyn G. Goodman with Mayor Oscar B. Goodman at the Smith Center for the Performing Arts

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VOLUME 47, NUMBER 1

Mayor Goodman with Usher in her office in Las Vegas

our five-star dining opportunities, incredible and varied boutique shopping offerings, starstudded entertainment, and now our major league sports are all irresistible and part of the Las Vegas advantage. Realize, too, that some 150,000-hotel rooms are just 20 minutes from our international airport – not an hour travel, and not spread over many miles. Our future is as bright as the sun that shines nearly 365 days a year. With measured intensity to addressing all challenges with fervor that our resident population shares, we continue bonding to face tough times together, whether in the recent recession or during the pandemic. Remember, never bet against Las Vegas. We handle it all, a huge diverse welcoming family of people adapting to change so that we may remain the world’s favorite travel destination in a beautiful, thriving community.

You have championed downtown development for Las Vegas. Will you discuss this effort and how it will impact the future of Las Vegas?

Downtown is where the City began and remains the core of southern Nevada. It is a thriving center of business, commerce, government, culture, and excitement. The downtown was a focal point and priority of my husband’s 12-year term beginning in 1999, and has continued to be for me as well thus far during my 12 years in office. As all major interstate roads converge into downtown, growth and new development have been a natural. We have seen neighborhoods like the 18b Las Vegas Arts District come into its own. New businesses have joined existing favorites, and the City has done its part by improving the infrastructure on many streets including Main and Fremont Streets, and a full concentration on Las Vegas Boulevard is nearing completion. Improvements and additions to many of the hotel-casinos downtown in recent years have included the Plaza, the D, VOLUME 47, NUMBER 1

Binion’s, the California, and the El Cortez to name a few. Transformational to downtown has been the opening of the 777-room Circa boasting the world’s largest sportsbook and its Stadium Swim complex. The VivaVision refresh of the Fremont Street canopy has drawn millions to the core of the City under which bands entertain for free on weekends and during holidays.

Downtown is also where you will find the Las Vegas Medical District, Symphony Park (theater district), the World Market Center (international wholesale furniture, accessories, and clothing marketplace), and the most popular outdoor shopping mall, Las Vegas North Premium Outlets, thrive. Each of us who lives here believes we are beyond fortunate to live in an exciting, multidimensional community like Las Vegas. All the amenities that people travel to for enjoyment, relaxation, business, sports, and conventions are here to enjoy and experience to the fullest.

Will you discuss your ef forts on improving inner-city schools in Las Vegas and the commitment and investment that your administration has made in education?

At the onset of my tenure, I committed that the City of Las Vegas would focus on early learning and preparing our children in readiness for kindergarten and reading matriculation. The school system and all public education have always been beyond the purview and control of the City. We thus chose to intervene through the preschool and after-school programs. Our Strong Start Program includes programming in traditional brick and mortar facilities as well as through mobile units which provide developmental and learning opportunities directly into some of our most challenged communities. Our ReInvent Schools are physical school community hubs that we have established to provide assistance to students and their families by providing wraparound services at the school itself. The concept is to reinforce the schools as the centers of the community. The City has also approved moving forward with a charter school to continue the efforts initiated in our Strong Start Program, now in its second year of operation. These are just a few of the ways that the city is working to create strong futures through education. Our goal is to have all of our children ready for or already reading in kindergarten, learning to love learning, and being taught only by state-licensed and better-paid faculty. We expect all children to be engaged in learning and to increase our high school graduation rates.

How has your administration expanded homeless resources and what more can be done to address the challenge of homelessness in Las Vegas?

On a daily/hourly basis we work to connect those facing homelessness with services that can assist them in becoming healthy, housed, and productive citizens. We do this through our MORE and Conditions Teams that bring our outreach efforts to the streets, into the encampments, and into our Courtyard Homeless Resource Center. The Courtyard is a low barrier, 24/7 safe shelter that is open to anyone who

needs help. Unfortunately, mental health and chronic drug/alcohol addiction are fundamental issues that oftentimes prove to be roadblocks to individuals accepting the help and services that are offered. Despite these challenges, the City is committed to breaking the cycle of homelessness by every means available.

What do you see as the keys to effective leadership and how do you describe your management style?

I am politically registered as non-partisan, I am a good listener and a pro-active mediator for I believe that it is important to remember that I was elected to represent all Las Vegans. Partisan bickering and political gridlock do not move the ball forward and do nothing to improve any quality of life. As a leader, one has to inspect what is expected to be certain that plans are being followed without shortcuts and only with necessary, approved change. Substantive factual data must be fundamental for consideration in the decision-making process. Being a good listener and helping to find compromise are essential to finding any and all success.

When there is conflict, no one gains, no one wins – everyone loses, so fair and just compromise means a middle ground must be reached, a place where everyone can agree to give a little to get some of what they want.

What do you tell young people about a career in public service?

First, know yourself and understand what public service means and entails. Find your niche in which your education, experiences, and training can be best used and give you a good fit. For the most part, know you are part of a team, a family of people trying to make your community the best it can be, always reaching to be better. Know you work for the people, spending their public tax dollars and thus, you must be able to defend your part in that allocation. Public service is an outstanding career pathway and profession which will be as rewarding, fulfilling, and as exciting as you make it. Learn, grow, give all that you can, and then do more of it all.

As you approach the end of your last term, are you and your husband, Oscar, able to take moments to reflect and appreciate what both of your administrations were able to accomplish for Las Vegas?

When we arrived as somewhat dumb newlyweds in Las Vegas in 1964 – then with a population of less than 100,000 – surely an adventure would lie ahead of us. Never did we ever contemplate the wonderful, varied, and fulfilling lives that we would share these 59 years. Our years each serving as mayors were different, yet certainly beyond purposeful, challenging, and so exciting too. Throughout the quarter century we always realized and absolutely knew we were beyond thankful for the outstanding administrative teams and individuals with whom we worked and shared the journey, and for this all, both Oscar and I say, “thank you!”

What do you hope both of your legacies will be as Mayors of Las Vegas?

“Oh, I remember them...”

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WOMEN LEADERS

Inclusive And Collaborative An Interview with Ke (Kelly) Yang, Senior Vice President and Head, Corporate Banking Department; Rachel Ye, Senior Vice President and Head, Enterprise Risk Management Department; and Tripti Singh, Vice President and Head of Policy, Communication, Advisory, and Training, Legal and Compliance Department, Bank of China U.S.A. EDITORS’ NOTE Ke (Kelly) Yang is Senior Vice Pr esident and Head of the Corporate Banking D e p a r t m e n t at Bank of China U.S.A., where she serves as the leader of the branch’s extensive portfolio o f corporate banking c l i e n t s . Ya n g has served Bank of China Ke (Kelly) Yang in various leadership capacities and was previously the Head of the Trade Finance Department of Bank of China U.S.A., having joined from the Bank of China Shanghai Branch. During her tenure in Shanghai, she served as the General Manager for the Hongkou Branch, Yangpu Branch, and Zhabei Branch from 2007-2016.

Before that, she held various positions including Head of the International Settlement and Head of the Trade Financing Market teams, as well as the Head of Business Management and Planning team at the International Settlement Department of the Shanghai Branch. Yang graduated from Antai College of Economics and Management at Jiao Tong University, obtaining an MBA. She earned a master’s degree in finance from Fu Dan University.

Rachel Ye is Senior Vice President and Head o f the Enterprise Risk Management Department at Bank of China U.S.A. A seasoned risk management professional with over seventeen years of experience, Ye joined Bank of China U.S.A. in April 2016. Her background and speciali z a tion as a Certified Rachel Ye Public Accountant (CPA) have allowed her to advise major financial services brands around internal control, compliance, and risk management. Prior to joining the bank, Ye worked for multiple financial services organizations, helping banks implement Basel II and III, the BSA/AML Compliance Program, and the Enterprise Risk Management Framework, among others. She earned an MBA from The Ohio State University Fisher College of Business.

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Tripti Singh is a Vice President and Head of Policy, Communication, Advisory, and Training of the Legal and Compliance Department a t B a n k o f C h i n a U . S . A . An experienced compliance officer w i t h a decade of experience in Anti-Money Laundering (AML) and Tripti Singh Sanctions, Singh has engaged in various instrumental roles throughout her career, including conducting intricate investigations into money-laundering rings, liaising with r egulators to identify and manage AML and sanctions risk, legal and regulatory compliance, and advising on building inter nal pr ocesses to mitigate sanctions exposur e for high-risk clientele. Prior to joining the banking industry, Singh’s legal backgr ound encompassed a wide spectrum, ranging from workers’ compensation to hospitality law, and advocating for the rights of veterans and service members. The versatility in her background has allowed her to leverage her financial acumen and legal knowledge to fuel teamwork, advocacy, and leadership. Singh earned her JD from the Tour o University Jacob D. Fuchsber g Law Center and a bachelor’s degree in political science and government from Indiana University.

COMPANY BRIEF As China’s most international and diversified bank, Bank of China (www.boc.cn/en) has a well-established global service network with institutions set up acr oss the Chinese mainland, as well as in more than 60 countries and regions.

It has established an integrated services platform based on the pillars of its corporate banking, personal banking, financial markets, and other non-commercial banking businesses, which covers investment banking, dir ect investment, securities, insurance, funds, aircraft leasing, and other areas, thus providing its customers with a comprehensive range of financial services. Bank of China U.S.A. (BOC U.S.A.) (www.bocusa.com) has branches in New York City, Queens, Chicago, and Los Angeles.

Will you provide an overview of your roles and areas of focus?

Yang: I serve as Head of the Corporate Banking Department at Bank of China U.S.A. My role is to manage client relationships and lead our corporate business development by providing trusted advice and support to clients based in the U.S., China, and around the world.

With extensive experience across a variety of sectors including energy, manufacturing, real estate, and financial services, my objective is to help our clients achieve their financial goals by means of Deposits, Cash Management, General Commercial and Industrial Loans, M&A Finance, Project Finance, Commercial Real Estate Loans, Cross Border Loans, and RMB Loans. Most importantly, my department specializes in providing one-stop comprehensive solutions to our customers, which include trade finance, commodity finance and global market services, together with our sister branches in mainland China and affiliates across the world.

Singh: I am the leader of Bank of China U.S.A.’s Women’s Employee Resource Group, a Vice President in the Legal and Compliance Department, and Head of the Sanctions Policy, Communication, Advisory, and Training team.

My team and I are hands-on with enhancing the sanctions and export control compliance framework for the Bank, establishing related policies and processes, and working closely with business units in assessing and mitigating risk exposure in payments and deals. Given the ever-evolving sanctions and export control regulatory environment, my team also carefully reviews and communicates the impact of these developments through training and discussions with stakeholders, which can range from executive management to junior analysts. We also partner with our Head Office in Beijing to share present day challenges in operationalizing compliance efforts with sanctions and export control laws. The array of responsibilities for my team means that no two days are alike.

Ye: I am the Head of the Enterprise Risk Management Department (ERM). Our department oversees the Bank’s Risk Governance Framework, responsible for supporting the Chief Risk Officer in promoting risk culture, driving key changes in the Bank’s risk management program, and supporting risk committees’ reporting. ERM covers end-to-end risk management processes from risk identification, risk assessment, risk management, risk monitoring,

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The headquarters building for Bank of China U.S.A. in Manhattan

and risk reporting, which essentially is an integrated approach to managing risk across the bank. ERM also aligns with other Independent Risk Departments (IRM) to provide consistent guidance to the first-line units in managing risk exposures, and is a leading department to help the First Line Unit better implement the risk management program. Our department also works closely with the Head Office to support board-level reporting and coordinate the director’s communication with Bank of China U.S.A. BOC U.S.A. has many female department leaders. How important is it for you to be part of an organization that provides strong opportunities for women in leadership roles throughout the bank?

Yang: Having served Bank of China across different branches and geographies, I have

“The leadership here is promoting a culture of gender parity so women in our bank always feel empowered to act in a confident way and share their perspectives.”

Rachel Ye VOLUME 47, NUMBER 1

been able to see how women play an instrumental role in ensuring that the Bank continues to provide excellent client service while also maintaining an open and inclusive culture that embraces diversity of thought perspective. I’ve watched the Bank evolve in significant and positive ways, and, today, we are proud to have so many women in leadership positions. With the support of our strong management team, employees, and culture, I am grateful to have been given so many opportunities to succeed at Bank of China and am excited to continue watching women lead at the Bank and rise through the ranks.

Singh: Female leadership aligns with BOC U.S.A.’s values, and being a part of an institution that facilitates diversity is important to me.

Having women in leadership roles makes the decision-making process better informed and well-rounded because the issues are being considered from several angles, leading to more innovative outcomes. Moreover, seeing female leadership woven into all aspects of the Bank inspires other women who are faced with the question of whether to speak up and seize the moment in a corporate environment. I am proud to be part of an institution that organically provides such opportunities for females and encourages them to engage.

Ye: Women at my age have to take on various roles in life, including mother, sister, daughter, and manager. It is imperative for an organization to provide flexibility and support for women to thrive in their careers. BOC U.S.A. truly is providing an environment for women leaders to succeed by giving us guidance from mentors and trust from senior management.

The leadership here is promoting a culture of gender parity so women in our bank always feel empowered to act in a confident way and share their perspectives. Without such an inclusive working environment, I am not sure I would have continued in such a fast-paced career while also fulfilling my other roles in life.

How important is it for your department to collaborate with other departments within BOC U.S.A.?

Yang: I believe in any large institution, collaboration is key to maintaining a functional, business and working environment. During the life cycle of our financial services, we work with at least 10 departments from front, second or third lines of defense within the Bank. The good thing is that we have holistic policies and procedures in place which help to guide us through the process workflow. Our products and services can be successfully delivered through the collaboration of various departments. Meanwhile, collaboration plays an even more critical role in the marketing strategies of the Bank – especially when we must create a narrowly tailored offering for our client on a case-by-case basis, the collaboration is based on forward-looking angles, making an end-to-end path to reach clients’ expectations. Fortunately, the Bank shares the core value of teamwork which makes it possible to convert challenges into opportunities. I often use a metaphor to describe internal collaboration: A single

“I’ve watched the Bank evolve in significant and positive ways, and, today, we are proud to have so many women in leadership positions.”

Ke (Kelly) Yang department is like a finger with limited force and capability, while the whole bank with five departments is like five fingers that can serve as a fist, able to generate more power and capability by clenching and stretching with the arm. The power we create through the collaboration across all the departments within the Bank is truly unmatched.

Ye: Enterprise Risk Management manages the full range and impact of combined risks across various threats at the organizational level. Therefore, ERM’s collaboration with other departments is required through almost all initiatives and daily work that ERM owns. ERM, as a second line of defense, collaborates with other IRM groups to prepare risk management guidance under the Risk Governance Framework to drive the efficiency and effectiveness of the

“Female leadership aligns with BOC U.S.A’s values, and being a part of an institution that facilitates diversity is important to me.”

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Tripti Singh

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Bank of China U.S.A. Trading Floor

risk management function. To promote consistent standards across risk types and encourage a strong risk culture within the Bank, ERM also collaborates with the various business lines to support risk management functions and guide through various risk management programs with training, workshops, designated forums, and working groups/committees. ERM truly believes that a successful ERM program requires a direct dialogue among different stakeholders and risk owners to build a sustainable program.

Singh: Collaboration is an essential component in ensuring we are meeting the priorities of our clients and internal stakeholders in a unified and holistic manner. In particular, as a compliance officer, it is critical to educate our team and ensure that internal stakeholders are aware of the risks and protocols that are needed for the Bank to optimally operate. Without collaboration within different departments of the Bank, we may place ourselves in a vulnerable position from a regulatory, operational, or reputational perspective. Proper communication and assurance that everyone is playing by the same rulebook is a key component to the success of any compliance professional, especially at an esteemed and large institution such as Bank of China.

How do you view your role in building stronger cooperation between the U.S. and China?

Yang: At Bank of China U.S.A., I view myself as an essential element in strengthening the business ties between the U.S. and China, particularly for the benefit of U.S. and Chinese companies.

BOC U.S.A. includes four branches: BOC New York, which was reestablished in 1981; BOC Queens Branch in 1985; BOC Los Angeles in 1988; and BOC Chicago in 2012. The footprint is set up to better serve the local economic hubs and cover key areas of investments by both American and Chinese business clients. BOC U.S.A. brings more than four decades of experience serving in the U.S. market, and we are proud to partner with many Chinese companies that are going global, Fortune 500 companies, homegrown enterprises, financial institutions, and high net-worth individuals to support their domestic and global business objectives.

After the Great Financial Crisis, BOC U.S.A. had been considered a systemically important bank by the Financial Stability Board, subject to more stringent regulation and oversight.

While other institutions may consider this as a regulatory and compliance burden, BOC U.S.A. 108 LEADERS

welcomed this designation and transformed itself to be a well-organized, top-notch commercial bank in the U.S. We are part of the integrated financial institutions, helping to propel the market to peak functionality.

Our global network empowers businesses from both the U.S. and China to navigate the complex global trade and supply chain environment. This enables our clients to enter new markets from positions of strength and scalability. We are experts and leaders in U.S. Dollar and RMB settlement, cross-border investments, commodities, and trade, making us the premier bank for accessing the world’s second-largest economy. Enabled by our global network, we facilitate Fortune 500 transactions around the globe.

As an international bank, BOC U.S.A. closely follows rules and regulations in its home country and host country as well as rules set up by the international community. We know each country has its own commercial lending criteria and risk assessment standards, and finding common ground in both sets of rules is where we excel. The overlapping area can be shifting with the economic cycle and macroeconomic conditions, but our ability to serve businesses in this multijurisdictional environment remains steady. We continue to find common ground in the green energy transition, cross-border financing activities between the U.S. and China, fund finance in the U.S. and global strategies, leveraged lending to middle markets, trade services to imports and exports, and more. In every transaction in which we participate, we bring liquidity to those clients and markets, solidifying our importance as a Chinese bank operating in the U.S. No transaction is too big or too small, as real impacts lie in each one of them.

Ye: Cooperation is a necessary ingredient for the success of any bank, but particularly Bank of China which serves as a connector between U.S. and Chinese companies who represent the world’s two strongest economies.

When it comes to enterprise risk management, the value of cooperation is extremely evident, given the recent volatility impacting the global banking industry and broader global markets this year alone. Bank of China U.S.A. serves both Chinese and U.S. companies, and an essential component to successfully cooperating lies within having a strong understanding of the geopolitical and economic challenges we share, from energy security and climate change to emerging technologies such as artificial intelligence, data analytics, cybersecurity, and beyond.

Singh: From a compliance perspective, in order for institutions and organizations to succeed, cooperation is of vital importance to ensuring that all parties are adhering to the same rules and regulations needed to legally operate within their respective jurisdictions. I’ve been lucky to work with stakeholders in the U.S. and across the world to familiarize them on the latest compliance developments and regulations that may impact our operations or require action.

Inherently, as the largest Chinese bank operating in the United States, cooperation between the U.S. and China is needed, and this has been echoed by leaders of both countries repeatedly.

Cooperation is not only necessary to operate in a safe, sound, and compliant manner, but is hugely important in ensuring we are prepared for any crisis or challenge that may arise.

What advice do you offer to young women interested in pursuing a career in banking?

Yang: It is a career path that is not easy, but one that is so rewarding in so many ways, and I say that reflecting on my own career. Young women are still, to this day, often discouraged from entering careers that are viewed as too challenging, but BOC U.S.A. is one example of an organization that has fostered an open and engaging work environment where people can learn, understand, and operate at their own pace and accords. Moreover, banking offers numerous roles and responsibilities that can be interesting and engaging for women with varying backgrounds. It’s a career path that promotes selfgrowth, dedication, time management, and diligence, all of which are beneficial to balancing your personal and professional lives.

Ye: Banking is a competitive industry, but it is also an enriching and rewarding career path as it allows you to gain a strong world view and understanding of the levers and tools that are needed for institutions to function and meet client goals. For women, it offers a great environment to grow their skills, given the diversity of backgrounds and responsibility that is bestowed upon employees, giving them an opportunity to showcase their knowledge and expertise, but also hone their strengths and improve upon their weaknesses. I’m grateful for my career as it has also allowed me to become a more critical thinker and decision-maker, which has enabled me to lead with the confidence and expertise needed to succeed at my job.

Singh: If you want to be seen as a leader, you must know that indecision can be worse than acting on an imperfect decision. Where there is no clear right or wrong answer, you must examine the issue and what is causing it, realize what you are trying to achieve and any limitations you have, and devise an actionable response. Equally important is being in tune with the impact of your decisions and adapting your approach according to the objectives you are trying to reach. Making informed choices and having a solid decision-making process is a part of being a leader. Indecision can fester uncertainty, lack of confidence, and lack of movement - things that you do not want to be known for in the banking industry.

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VOLUME 47, NUMBER 1

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WOMEN LEADERS

Artist First An Interview with Julie Swidler, Executive Vice President, Business Affairs and General Counsel, Sony Music Entertainment EDITORS’ NOTE Julie Swidler is Affairs for Mercury Records before Executive Vice President, Business leaving to join Clive Davis at Arista Affairs and General Counsel for and later J Records. Swidler holds a Sony Music Entertainment, where BA degree in political science from she oversees business, legal, and Union College and a JD from Cardozo gover nmental affairs for the Law School, where she was a member company globally. As one of the of the Cardozo Law Review. most powerful dealmakers in the music industry, Swidler brings a COMPANY BRIEF Sony Music rare depth of insight and acumen Entertainment (sonymusic.com) honors to her role. She has advised the the creative journey. The company’s company’s labels and operating creators shape movements, culture, Julie Swidler units on everything from strategic communities, and history. It has negotiations and artist contracts played a pioneering role in music to litigation and joint venture operations. history, from establishing the first-ever music Repeatedly featured on Billboard’s Women label to inventing the flat disc record. Sony in Music and Power 100 lists, Swidler was Music Entertainment has nurtured some of the first Label Executive (and first woman) to music’s most iconic artists and produced some receive the 2016 Grammy Foundation’s ELI of the most influential recordings of all time.

Service Award given to music attorneys for Today, the company works in more than 100 advancing and supporting the music commu- countries, supporting a diverse and distinctive nity through service. That same year, Swidler roster of talented creators at every level and was honored by Volunteer Lawyers for the Arts on every stage. Situated at the intersection of with its Champion of the Arts award. In 2018, music, entertainment, and technology, Sony when the Recording Academy wanted to put Music Entertainment brings imagination together a small task force to examine diver- and expertise to emerging products and platsity and inclusion issues in both the recording forms, embraces new business models, and academy and the recorded music industry employs breakthrough tools – all to support at large, Swidler was tapped to serve on this the creative community’s experimentation, task force. Swidler started her career in the risk-taking, and growth. The company forms music business in 1988 at PolyGram Records deep, trusted, cause-based partnerships to as Senior Attorney, rising to Assistant General uplift and empower communities around the Counsel and Vice President-Assistant General world. Sony Music Entertainment is part of Counsel, North America, and Head of Business the global Sony family.

How do you define Sony Music Entertainment’s culture and values?

The way that I would describe Sony Music Entertainment’s culture is artist first. Everything we do, we try to think about what is best for our artists and somehow that becomes best for us as well.

What have been the keys to Sony Music Entertainment’s industry leadership?

I think it all leads back to the above artistfirst approach.

Will you provide an overview of your role and areas of focus?

My areas of focus are the legal, business affairs, and public policy strategies of the company. What that means is that there is very little that the company does that my team is not across. I have had to make sure that as a result, I am totally focused on learning every aspect of our business issues in the present and for the future, including new technologies.

What are your views on the state of the music industry?

For the moment, the music industry is doing better than it has in decades. That being said, we need to stay vigilant because as technology changes, our business with morph with it.

What attracted you to the music business and what has made the industry so special for you?

I have always loved music from a very young age. I was a DJ in college, I played three instruments and was part of a performing duo in college. Being able to be a lawyer in the music business has been a dream come true.

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“The way that I would describe Sony Music Entertainment’s culture is artist first. Everything we do, we try to think about what is best for our artists and somehow that becomes best for us as well.”

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WOMEN LEADERS

A Collaborative Culture An Interview with Linda M. Doyle, General Counsel, McDermott Will & Emery EDITORS’ NOTE Linda Doyle FIRM BRIEF As a top-ranked global serves as the firm’s General Counsel. law firm with more than 1,400 lawyers, Prior to her appointment to this McDermott Will & Emery (mwe.com) position, Doyle focused her practice serves many of the world’s leading on all aspects of employmentcompanies and privately held related litigation and counseling. businesses. Guided by its mantra of She has advised boards of directors #AlwaysBetter, the firm focuses both and employers on employment on being indispensable to clients and issues, develops and delivers creating a culture of happiness and training sessions for employees excellence. In doing so, colleagues work and management, and conducts seamlessly across practices, geographies, internal investigations relating to and industries to deliver solutions that Linda M. Doyle whistleblower, discrimination, and propel sustained success. other claims. Doyle has experience in negotiating labor contracts and representing What have been the keys to McDermott’s clients in arbitrations under collective bargaining i n d u s t r y l e a d e r ship and how do you agreements, as well as in proceedings before the describe the McDermott difference?

National Labor Relations Board and the U.S. One of the keys to our success in Department of Labor (DOL). She also counsels recent years – our ascension in financial private equity companies, investors and boards performance, brand recognition, and in the of directors on leadership change and succession rankings for client service, innovation, etc. – issues. Her trial experience includes class has been our laser focus on doing just that. actions and single-plaintiff actions related We set very specific goals, we measure our to non-competition agreements, trade secrets progress from every angle, and we talk and unfair competition; whistleblower claims openly and transparently about our success under state law, the Sarbanes-Oxley Act and the and where we are falling short. Where we False Claims Act; executive compensation; fall short, we figure out why and either push discrimination; harassment; wrongful termination; harder or reset, as necessary. And we have wage-and-hour disputes; and benefits. She fostered a culture where everyone in the firm previously served as the firm’s chief human is accountable for and participates in our resources officer, deputy general counsel, and success. It is exciting and motivating. hiring partner. Doyle has been recognized Will you highlight McDermott’s culture in Chambers USA 2008 to 2018, Labor & and values?

Employment; Benchmark Litigation 2014 to 2019, Our culture is the glue that keeps us Litigation Star, Labor & Employment; and The together at McDermott and that drives us to Legal 500. She is a board member of the Shattered do our very best work for our clients and our Globe Theatre Company. Doyle earned a BS firm. I would describe our culture and values degree from St. Joseph’s University and a JD degree statement as providing excellent service to our from the University of Michigan Law School. clients in a collaborative way. We spend a lot

of time together – more of that in person which is great. We push ourselves and each other to do great work and we support each other so that we enjoy doing that work together. This is a demanding job, and we need that support to do it well. I have had some challenging tasks in my role. I can always lean on my partners and their expertise. They take my calls and jump in to help when I ask. That is the culture we foster.

Will you provide an overview of your role and areas of focus?

I am the firm’s General Counsel and in that role, I oversee or support everything that involves risk. Broadly, I lead managing claims against the firm and, more importantly, avoiding claims, via policies, training, and processes. I oversee our governance, partnership, and insurance functions. I oversee the Conflicts and Intake (new business) function. I oversee our Global Privacy and Compliance functions.

I support HR, Procurement and real-estate as needed. I work with our CIO and CISO who lead our cyber-security function. And I work with our CFO on various tax compliance issues and other issues. It is a broad and very interesting job.

How critical is it for the General Counsel role to be engaged in business strategy?

At McDermott – it is very important. Our primary goal in the firm’s GC function is, of course, risk avoidance and mitigation. But our actions, polices, advice and counsel are designed to foster that goal and help drive the business forward to meet its strategic goals. Ira (Coleman, chairman of McDermott) was very focused on reshaping the GC function in that regard. He asked me to serve on the Executive and Management Committees and provided me

“We set very specific goals, we measure our progress from every angle, and we talk openly and transparently about our success and where we are falling short.”

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“Our culture is the glue that keeps us together at McDermott and that drives us to do our very best work for our clients and our firm. I would describe our culture and values statement as providing excellent service to our clients in a collaborative way.” with a team so that I can help him; our COO, John Yoshimura; and our MC to set and meet the firm’s strategic goals.

Will you discuss McDermott’s commitment to build a diverse and inclusive workforce?

We are committed to diversity because it is the right thing to do – it is good for our firm and our clients. A diverse work force means we have people with different experiences, ideas, and perspectives. That leads to better decision-making and better solutions for our clients. And I think that people are happier in a diverse and inclusive culture where there isn’t a “type,” and everyone belongs. You can’t just have diversity as a goal. You have to take purposeful actions toward that goal, and we do.

McDermott commits time and resources to pro bono work. How engrained is pro bono and community engagement in McDermott’s culture?

Pro bono and community service is engrained at McDermott and has been for the 22 years I have been here. When I joined, we had a partner devoted to leading pro bono. Now we have three partners, and other lawyers and an administrative team dedicated full time to that effort. Pro bono runs like a practice group. There are thousands of different opportunities presented to both lawyers and other professionals. We have community service events in every office, often. We measure both our time and our impact. We give credit for time lawyers spend on pro bono and while that is important, I think that what really motivates people is how much we embrace and celebrate pro bono. People want to do this work. It is a critical component of our culture. It inspires us in a deep and personal way.

You have served in many leadership roles at McDermott, including as chief human resources officer. Has this broad experience been helpful in your role as General Counsel?

Yes – absolutely. I was the National Hiring Partner and the CHRO while I practiced.

Before I became the CHRO, I served as the employment lawyer for the partnership and supported HR. Those roles lead to knowing the firm, the people, and the processes on a deep level. Knowing the firm as well as I do has really helped me in this job. And, in those roles, I learned about leadership. I had to lead people and processes and manage big change. That is essentially what I now do.

Do you feel that there are strong opportunities for women in leadership positions in the industry?

Not as many as there should be, but I hope that is changing. Take my role: there are not many women GCs in AM Law 50 – or even 100 – firms. There are many really smart and thoughtful women in deputy GC roles, and I hope that those women get the top job when the opportunity comes.

Did you always know you had an interest in pursuing a career in the legal profession?

No. As an undergraduate, I was focused on a career in Labor Relations. I was familiar with that path because of my family experiences – my father and grandfather were union representatives. After college and with my business degree in LR, I worked as a labor relations consultant. I went to law school because I thought it was time to go to graduate school to advance in that field. I loved law school. That and practicing in a large law firm, broadened my career aspirations. A few years into my time at McDermott, a partner

convinced me that I would enjoy being a trial lawyer instead of a labor lawyer, so I became a trial lawyer. My path was not linear or planned, but it was the right one for me.

What advice do you offer to young people beginning their careers?

Keep your eyes open for opportunities and say yes. My career trajectory is in large part because I said yes (a lot) to key opportunites, even those outside of my comfort zone.. I had a partner mentor early at McDermott – not a formal one but someone I met getting a cup of coffee. I said hello and introduced myself because I was a very new lateral associate and did not know many people. He later asked me to step into a case I knew nothing about. I was nervous, but I said yes. That case was so interesting; I learned a lot and had a lot of fun working on it. Later, he suggested that I transition to the Trial Practice.

Again, I said yes and I loved the 15 or so years that I spent in the Trial Practice at McDermott.

I was also asked early on to get involved in legal recruiting at my alma mater, the University of Michigan. I said yes in an effort to meet more people. Later I said yes to being a National Hiring Partner. In that role, I got to know our then Chairman and the head of our Compensation Committee. They asked me to be the CHRO parttime while I was still practicing. I said yes even though I was nervous that I could not do both jobs well. In that role, I met Ira Coleman who was then the head of the Miami office and a member of the Management Committee. When Ira became our Chairman, he expanded my role and a year later he asked me to become the fulltime GC. I said yes.

So, introducing myself to people every chance I got, and many yeses, led me to a really rewarding career at McDermott.

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“Pro bono runs like a practice group. There are thousands of different opportunities presented to both lawyers and other professionals.

We have community service events in every office, often.”

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A Team Of Futurists An Interview with Rema Serafi, Vice Chair – Tax, KPMG LLP EDITORS’ NOTE Rema Serafi is the not provide services to clients. KPMG Vice Chair – Tax at KPMG LLP. In this is widely recognized for being a great role, she oversees a team of more place to work and build a career. The than 10,000 partners and profesfirm’s people share a sense of purpose sionals across all tax disciplines, in the work they do, and a strong including federal, international, commitment to community service, state and local, as well as specialty inclusion and diversity, and eradipractices such as mer gers and cating childhood illiteracy. acquisitions, economic and valuation services, and global mobility How do you describe KPMG’s culture services. During her nearly three and values? decades at KPMG, she’s held several The culture at KPMG is rooted in Rema Serafi leadership positions. From 2020our primary values: Integrity, Courage, 2023, Serafi served as the National Excellence, Together, and For Better.

Managing Principal – Tax, setting the Tax prac- These define who we are and how we work. tice up for long-term success by promoting a They’re the foundation of a culture that is client-first mindset, investing in leading tech- collaborative, ethical, and inclusive. These nology and talent and more. Prior to this role, values guide our behaviors and every decishe led the Economic and Valuation Services sion we make, which has a tangible and lasting (EVS) practice for five years. Serafi’s client impact on how we connect as colleagues, how experience includes serving as a Lead Account we make the difference for our clients, and how Partner for a Fortune 250 company and we make an impact on our communities. In providing transfer pricing consulting services to Tax specifically, we’re really proud of our own leading multinationals across numerous indus- unique culture that enables us to grow together tries, with an emphasis on financial services. She and our shared purpose to provide a differentihas a particular interest in the impact of data & ated experience to our clients all the time. analytics, artificial intelligence, and emerging technologies on corporate tax functions, as well as in strengthening the talent and diversity pipeline in the profession. Serafi joined the KPMG US partnership in 2003 and served as a member of the firm’s Board Nominating Committee and National Women’s Advisory Board, as well as the board of Enactus, an international nonprofit organization that works with leaders in business and higher education to mobilize university students to become socially responsible business leaders. She earned her master’s degree in international economics from Columbia University, School of International and Public Affairs, and her bachelor’s degree from Barnard College.

Will you highlight KPMG’s Tax practice and what has set the practice apart from its competitors?

Our exceptional team and advanced technology set us apart in a competitive marketplace. We have several tax disciplines made up of best-in-class teams, including federal, international, state, and local – as well as specialty practices, such as mergers and acquisitions, economic and valuation services, transfer pricing, and global mobility services. We’re also well-known for our deep expertise in tax policy, industry focus, advanced technology capabilities, and ability to deliver for our clients. In particular, our Washington National Tax practice, which provides insights on tax, legislative, and regulatory changes, is unmatched in the market with experts from Treasury, the OECD, Capitol Hill, and other governmental and legal backgrounds.

What’s more, our people drive our culture in Tax, and foster an environment in which rich connections are made and learning and collaboration are celebrated. Across KPMG Tax today, our professionals are excited about the opportunities AI and generative AI have

“The culture at KPMG is rooted

in our primary values: Integrity, Courage,

Excellence, Together, and For Better. These

FIRM BRIEF KPMG LLP (kpmg.com) is the U.S. firm of the KPMG global organization of independent professional services firms providing audit, tax, and advisory services. The KPMG global organization operates in 143 countries and territories and has more than 265,000 people working in member firms around the world. Each KPMG firm is a legally distinct and separate entity and describes itself as such. KPMG International Limited is a private English company limited by guarantee. KPMG International Limited and its related entities do 114 LEADERS

define who we are and how we work.

They’re the foundation of a culture that is collaborative, ethical, and inclusive.”

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“To be successful as we move forward, we’ll need to be a team of futurists. You don’t have to look any further than our KPMG Tax Ignition network around the country to see that we’re well on our way to driving this vision and continuing to lead in the market. We’re on an exciting path and plan to keep performing, building, and innovating.”

brought about and are motivated to learn how we can leverage this technology for ourselves and our clients in the future. We are a first mover when it comes to these technologies.

In the summer of 2023, we announced a $2 billion investment in Microsoft Cloud and AI services over the next five years, underscoring our commitment to innovation and helping our people work smarter. In Tax, as part of this investment, we’ve layered generative AI on top of our cloud-based Digital Gateway platform, which will allow clients more integrated and transparent access to their data so they can take a more holistic approach to their tax function. We’re very excited about the future – and are confident this is only the beginning.

Will you provide an overview of your role and areas of focus?

In my role as Vice Chair of Tax, I lead a team of 10,000 partners and professionals.

My main priorities include solidifying our techforward tax offerings and building a strong pipeline of top talent. This involves a keen focus on combining AI with human intelligence to make routine tasks more efficient, reveal potential tax risks, improve compliance and reporting accuracy, and enhance tax planning and forecasting. With AI and generative AI very much a part of our tech roadmap, I am intent on building a workforce that is agile and future-proofed, composed of tax professionals ready to deploy these advanced technologies to enhance their strategic value and deliver for our clients. To be successful as we move forward, we’ll need to be a team of futurists. You don’t have to look any further than our KPMG Tax Ignition network around the country to see that we’re well on our way to driving this vision and continuing to lead in the market. We’re on an exciting path and plan to keep performing, building, and innovating.

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You have held a number of leadership roles at KPMG, both abroad and domestically.

How has this varied experience helped prepare you for your current role?

The experiences I’ve had while at KPMG are a primary reason I’ve never left. A pivotal experience I had abroad was when, within six months of joining the firm, I took an assignment in London, working on a financial services engagement with an international team from Germany, the U.K., and the U.S. The opportunity allowed me to immerse myself in an on-site client experience, and, as a result, differentiate myself from my peers with a strong industry focus.

Later, as a Senior Manager, I was sent on a year-long rotation to a financial services client in New York. Spending a year at the client site taught me a lot about the power of building relationships and grew my understanding of how you create and deliver a truly differentiated client experience. Many of the relationships I developed during my time with the bank were instrumental in my success later and helped me generate opportunities as a partner at KPMG. Ultimately, these experiences set the tone for what the next two-plus decades would have in store for me. In the years that followed, and through the many opportunities I seized, I gained a deeper understanding of the global tax landscape, and perhaps most importantly, the ability to forge lasting connections with clients, colleagues, and mentors. Working side-by-side with some of the best and brightest minds in tax today has been a formative part of my experience and will continue to inform the way I think about this next role.

Do you feel that there are strong opportunities for women in leadership roles in the industry?

The profession is certainly moving in the right direction; however, like in many other

professions, there’s more work to be done.

Providing women with opportunities and support at all stages of their professional journey is critical. Women should be empowered to balance work and personal responsibilities and feel confident they can work in an environment that provides resources to propel them forward. I’ve said this before, but it still rings true – I believe that women should empower one another and lean into being women. Rather than feeling self-conscious about the differences in our experience when compared to our male counterparts, we should celebrate the ways these differences enable us to lead effectively.

Early in my career, I let myself feel intimidated in boardrooms full of men. Now, though, I understand the great strength that lies in leveraging what sets me apart as a woman in my career.

Being a woman in business isn’t just a role; it can be a strategic advantage. But to harness this, we must instill confidence in our identities and ensure the support of our peers and mentors.

What do you feel are the keys to effective leadership?

Empathy and listening. While communication, adaptability, a clear vision, and integrity are essential, I firmly believe that empathy and listening to your stakeholders lie at the core of effective leadership. The best leaders can understand and relate to the needs and concerns of their team members. And because people at an organization like KPMG are truly the ones powering the business, the best leaders understand this and listen and engage with their teams on a meaningful level.

You joined KPMG more than 27 years ago. What has made the experience so special for you?

Reflecting on my 27-year journey with KPMG, the early opportunities that gave me hands-on client experience were pivotal. They allowed me to carve out a distinct niche in the industry and set a precedent for my career. The many years since have brought a myriad of challenging and exciting opportunities, all of which I am thankful for. Along the way, of course, the incredible people I have crossed paths with have also been important to my journey. In addition to mentors and sponsors, I’ve developed close friendships throughout my KPMG career – many of whom contributed to my success in big and small ways. There has not been a single dull moment, and I feel humbled and proud to assume the role of Vice Chair for our Tax business. I can’t wait to see what the future holds.

What advice do you offer to young people interested in a career as a tax professional?

There’s perhaps never been a more exciting time to be a tax professional. The impact that emerging technologies and generative AI are having on the profession is profound, and the profile of tax professionals is evolving. You can be instrumental in this movement, pushing the boundaries beyond the traditional tax technical candidate and demonstrating the predictive power that data can bring to an organization. This alone could provide you a competitive edge, distinguishing you from other candidates.

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WOMEN LEADERS

Creating A Real Connection An Interview with Loreen Babcock, Senior Vice President and Chief Marketing Officer, Montefiore Einstein EDITORS’ NOTE Loreen Babcock Will you provide an overview of is an award-winning marketing your role and areas of focus? leader, widely regarded as one of In my role as Chief Marketing the foremost experts in applying Officer, I am responsible for marketing social science and behavior strategy and the development and change models to the practice of implementation across all channels. marketing. In her role as Chief How critical is it for the chief Marketing Officer at Montefiore marketing officer role to be Einstein, Babcock is responsible engaged in business strategy? for marketing strategy and the In the constantly changing landdevelopment and implementascape of healthcare, it is critically tion acr oss all channels. Prior important that those who are focused Loreen Babcock to joining Montefiore Einstein, on business development rely on their Babcock built and r einvented marketing resources. Chief marketing brands across the healthcare, technology, officers and their teams have a unique lens into financial and energy sectors for blue-chip the sentiment of the vast communities and audior ganizations including Pfizer, Mer ck, ences we serve and what draws them to our care.

Pr octer & Gamble, Johnson & Johnson, Understanding the motivation of market segments AstraZeneca, Sanofi, Bristol-Myers Squibb, is complex because behavior is often driven by G l a x o S m i t h K l i n e , A b b o t t , J P M o r g a n , deeper emotional sentiment that is best underChase, MasterCard, Reliant Ener gy, and stood by the ongoing research that happens in the Lucent T echnologies. Babcock founded marketing division of organizations and industries. two marketing agencies – Idevoita in What have been the keys to the strength 2012, and LLKFB/Unit7 in 1996. She sold and power of the Montefiore Einstein LLKFB/Unit7 to Omnicom in 2000, where brand? she ascended to serve as Chair man and The strength and power of our brand comes CEO of LLKFB/Unit7 thr ough 2012. Prior from our authenticity and our ability to ensure to founding LLKFB/Unit7, she held senior that our brand always reflects an authentic truth. leadership r oles for advertising agencies Will you pr ovide an overview of including Ogilvy, Saatchi & Saatchi and Montefiore Einstein’s branding campaigns?

Lowe.

What makes Montefiore Einstein’s branding campaigns uniquely groundbreaking is that INSTITUTION BRIEF Montefiore Medicine (montefior e.or g) is a leading academic medical organization comprised of Montefiore Health System and Albert Einstein College of Medicine. Together they are pioneering patient-center ed r esearch and providing exceptional personalized care with over six million patient interactions a year in communities across the Bronx, Westchester and the Hudson Valley. Montefiore Health System is comprised of 10 member hospitals, including the Childr en’s Hospital at Montefiore, Burke Rehabilitation Hospital, White Plains Hospital, and more than 200 outpatient ambulatory care sites that provide coordinated, comprehensive care to patients and their families. Albert Einstein College of Medicine, home to nearly 1,000 students in its MD, PhD, and combined MD/PhD programs, is one of the nation’s preeminent centers for research, medical education and clinical investigation.

they are based on extensive market research with each of our audiences, and we integrate insight with sophisticated analytics to shape our strategy on how we communicate the excellence of Montefiore Einstein through the power of a strong narrative. Our fluid approach is what keeps us pushing the boundaries in what and how to communicate, and it has paid off. Our “I Want to Live” campaign for transplant is a great example. We told that very powerful and thoughtful narrative through the patient’s eyes, their voice, and their dreams. Our strategy was to preserve their world just as they saw it and show how the small things in life take on magnificent meaning.

Our Holiday campaign that launched on Thanksgiving Day is another good example.

The campaign reveals what innovative technology like eye tracking can give to someone with a neurological condition that leaves them incapable of speech and voluntary movement. We have seen first-hand how this innovative technology enables people previously perceived as having limited cognitive abilities to express their thoughts and understanding, effectively revealing their hidden potential, and giving them a voice to communicate with the world. We extended the campaign by developing a simple eye tracking technology that gives our Holiday site visitors their own experience created with just their eyes.

“What makes Montefiore Einstein’s branding

campaigns uniquely groundbreaking is that they

are based on extensive market research with each of our audiences, and we integrate insight with

sophisticated analytics to shape our strategy on

how we communicate the excellence of Montefiore Einstein through the power of a strong narrative.”

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Montefiore’s Henry and Lucy Moses Division

As with most of our campaigns, we wanted to remove the “commercialization” out of the feel of the message and give our audience a privileged peek into the minds of people who are going through or on the other side of something medically and emotionally complex. That creates a real connection.

How is technology impacting the way Montefiore Einstein approaches its marketing initiatives?

Technology plays an important role in how we get our message across, drive engagement, and measure success. We use technology throughout all of our marketing initiatives and, most notably, we use technology for our data analytics. Our reporting is underpinned by a data warehouse and data visualization tool which we use to aggregate data from each marketing channel. When an initiative is

launched across multiple channels, we have a consolidated view into performance across each channel.

Will you discuss the importance of engaging Montefiore Einstein’s workforce in its marketing efforts?

Marketing is key to stimulating deeper conversations across our organization and I’m fortunate to work with a visionary CEO who understands the value of what marketing brings to an organization, how it builds internal culture and fosters strong relationships.

Our workforce is key to what we showcase in our marketing initiatives. Everyone is working so hard, all of the time, and when they are able to see a notable claim, an incredible patient success story, an advancement or a breakthrough amplified in the market – it rallies everyone.

“As with most of our campaigns, we wanted to remove the ‘commercialization’ out of the feel of the message and give our audience a privileged peek into the minds of people who are going through or on the other side of something medically and emotionally complex. That creates a real connection.”

How critical are metrics to measure the impact of Montefiore Einstein’s marketing initiatives?

Very. I lean heavily into data and analytics and I have, in fact, built a data-driven marketing department. We approach all of our marketing initiatives with a “test and learn” mindset. Then, we dig into what is working and what needs to be further optimized. I push so we are accomplishing our goals and I strive to exceed them. I never want us to be satisfied with the status quo.

What have been the keys to Montefiore Einstein’s industry leadership and how do you define the Montefiore Einstein difference?

Our leaders are future-forward and have an unwavering commitment to our mission: To heal, to teach, to discover, and to advance the health of the communities we serve. We deliver on our mission every day with the most diverse population in the country.

How important is it for Montefiore Einstein to build a diverse and inclusive workforce to mirror the diversity of its patients and the communities it serves?

Our workforce has always reflected the diverse population we serve. They give voice and offer solutions to the unique healthcare challenges faced by our communities. Montefiore Einstein’s leadership has always fostered an environment that is inclusive and welcoming.

Do you feel that there are strong opportunities for women in leadership roles in the industry?

Many of Montefiore Einstein’s leaders are women who have long tenures in their roles, including our Chief Financial Officer and our Chief Operations Officer. At Montefiore Einstein we have a shared commitment to equity and to creating an environment where everyone has ample opportunities for professional development and growth.

What advice do you offer to young people interested in building a career in marketing?

Marketing is core to business building, so you have to know your business goals and objectives. You have to be clear about the claim and key message that will serve as the arch of the story that will deliver on them.

You have to build a multi-disciplinary base of skills – digital, social media, traditional media, creative strategy, research and analytics. And, you must know what is going on in culture – all of it. Marketing offers wonderful professional opportunities when you understand how it all comes together and how it all works together.

What are your priorities for Montefiore Einstein’s marketing efforts as you look to the future?

To continue breaking new ground in how we build our brand. Montefiore Einstein is rich with stories and remarkable innovative discoveries. From a marketing perspective, the possibilities of how we communicate these narratives and advancements are endless. I want to continue to challenge myself, my team, and our workforce to discover new ways to present Montefiore Einstein so it always feels like our audience is learning something new about our brand with each and every marketing initiative.

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Placemaking An Interview with Rebecca D’Eloia, Executive Vice President, Development, RXR EDITORS’ NOTE Rebecca D’Eloia approximately 3,400 multi-family and is a real estate development execfor sale units as of September 30, 2023. utive with over 24 years of expeGross asset value is compiled by RXR in rience in lar ge-scale, public/ accordance with company fair value private redevelopment projects, measurement policy and is comprised primarily in the New York metroof capital invested by RXR and its politan region. As Executive Vice partners, as well as leverage.

President of Development at RXR, she leads development activities What excited you about the opporacross multiple asset classes within tunity to join RXR and made you feel the company’s ground-up portfolio. it was the right fit?

Prior to joining RXR, D’Eloia was I had almost exclusively worked Rebecca D’Eloia Senior Vice President at Forest City on New York City projects, as my Realty Trust, working primarily on previous company, Forest City, was in the development of Atlantic Yards (now Pacific Downtown Brooklyn, and I had been involved Park) and Barclays Center, a transformative in Atlantic Yards, as well as Lincoln Center before 8 million-square-foot mixed-use redevelopment that. RXR had always intrigued me since I grew anchored by a new NBA arena for the Brooklyn up on Long Island and remember seeing the Nets. Prior to Forest City, D’Eloia was part of Reckson signs, so even before I knew much about the team leading the redevelopment of Lincoln real estate, I was aware of the company. What Center for the Performing Arts, a $1.2-billion recon- I found interesting about RXR is that while they struction of the campus housing 11 world-renowned were then headquartered in Long Island, they performing arts organizations, including the New were taking on incredibly complex, large-scale York Philharmonic, the Juilliard School and the Metropolitan Opera. D’Eloia began her career at the New York City Department of Parks and Recreation, where she oversaw revenue contracts and licenses for the agency. D’Eloia is a graduate of Cornell University’s School of Industrial and Labor Relations.

COMPANY BRIEF RXR (rxr.com) is an innovative investor, developer and place-maker committed to applying a customer and community-centered approach to building properties, services, and products that create enduring value for all stakeholders. Headquartered in New York with a national platform strategy, RXR is a 450+ person, vertically integrated operating and development company with expertise in a wide array of value creation activities, including ground up r eal estate, infrastructur e and industrial development, uncovering value in underperforming properties, repurposing welllocated iconic properties, incorporating cuttingedge technologies and value-added lending.

The RXR platform manages 93 commercial real estate properties and investments with an aggregate gross asset value of approximately $19 billion, comprising approximately 30 million square feet of commercial properties, a multifamily residential portfolio of approximately 9,000 units under operation or development, and control of development rights for an additional 118 LEADERS

projects throughout the metro area, which was my passion.

I was impressed by their move into unique development projects with Pier 57 on the west side of Manhattan. which was an aging asset with an intriguing history which RXR successfully reimagined as a dynamic mixed-use project in a burgeoning neighborhood along the Hudson River. I came to learn this was part of a strategy to not only reposition historic assets, but to also develop in similar areas, including suburbs, which were well served by transit. As soon as I joined RXR, I was put on the New Rochelle master development, the centerpiece of RXR’s urbansuburban strategy which ended up being a terrific opportunity because I was able to work with the entire RXR team and it provided me an opportunity to experience RXR’s culture and ethos right away.

It has been six years for me with RXR. I have been fortunate to work on many projects in the portfolio, and it has truly been a great fit.

The Willoughby, Brooklyn, New York

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The Beacon, Garvies Point, Long Island

Will you discuss RXR’s expansion into new markets?

When I joined RXR, it was primarily a New York Metro company, and we were quite successful. Yet, we knew we had a set of skills and a team of talent that would translate effectively to other markets, which has been very exciting. Our leadership team has built a very strong set of criteria when looking at expansion opportunities, which means that when we pursue an opportunity in another part of the country, we are uniquely positioned for success.

I have been lucky to work on one of RXR’s biggest projects, an 1,100 acre mixed-use development in the Research Triangle formed by Raleigh, Durham, and Chapel Hill in Apex, North Carolina. Our New York experience and expertise has been extremely valuable with this project, and our culture has been well-received in Apex.

We have found the overwhelming majority of the people in Apex to be pro-development, which makes it easier for us to focus on doing the best project possible and working hand-in-hand as a true partner to the community.

Will you elaborate on the Apex project?

The site is zoned for up to 8,000 housing units, multi-family or single family, almost 12 million square feet of commercial, up to 3.5 million square feet of retail, and significant medical or life sciences uses. One of the interesting things about Apex is that when you think of the Research Triangle, you have a lot of suburbs of Raleigh that have attracted major life sciences and tech companies, and if you looked at a map of the Research Triangle, Apex is right in the middle of the triangle.

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Our development plan will start with a walkable, mixed-use housing and a retail component that will create a unique “sense of place,” combined with new infrastructure that will enable Apex to attract some of the large life science and tech industries that can be found throughout the Research Triangle. We’ve also made a number of strategic partnerships, including one with Wake Tech which is an amazing technical community college system in the Triangle, led by Dr. Scott Ralls, to build a new 340,000-square-foot campus on 34 acres, and another parcel will be used by Wake County Public Schools to support the need for more schools.

RXR is committed to placemaking, and when you are focused on building a sustainable community, it is a win-win for us and the stakeholders in the areas where we develop.

Will you discuss the work that RXR is doing in partnership with Long Island University?

RXR and Long Island University entered into a public/private partnership to construct a new 600,000-square-foot mixed-use project in Downtown Brooklyn in 2016. Our first project, The Willoughby, is a 34-story, 470-unit residential building with a mix of affordable and market-rate apartments rising above a 560-car parking garage with first-floor offices, academic space, fitness and wellness facilities, and new rooftop athletic fields for the university.

LIU has great leadership with Dr. Kimberly Cline, and they are looking to leverage the incredible real estate that they have in downtown Brooklyn to create and expand their

educational mission. We just started phase two of the partnership with a 324-unit residential building on the campus, and the base of the building will be 55,000 square feet of brand-new pharmacy and educational facilities including an accelerator which is really exciting.

How do you describe RXR’s culture?

RXR is a big company that feels like a small company in that we are all very close, and operate like a family. It helps to have leaders that we admire and who are always accessible.

Our leadership is constantly communicating with our teams and is extremely transparent which builds trust. Our leaders – Scott (Rechler, Chairman and CEO), Mike (Maturo, President), Jason (Barnett, Vice Chairman, Chief Legal and Administrative Officer) and Todd (Rechler, Chief Construction and Development Officer) – are so approachable and humble which is truly inspiring. It creates loyalty and makes people want to be a part of the company.

Do you feel that there are strong opportunities for women to grow and lead in the industry?

I have had perhaps a unique experience because in almost all my jobs, my direct report has been a woman, and each of them have been incredible role models for me. I have also been fortunate to work with amazing men who have been very supportive throughout my career. Because of my experience, it is important for me to make sure that the young women coming up in the company know that I am there to help provide advice and guidance in their careers. This mentorship was so important in my own career development, and I want to offer that to the next group of women leaders at RXR. Are you able to take moments at the completion of a project to reflect and appreciate what has been accomplished?

I try to take moments to reflect. Walking into a building when it is done, after having watched the space being created over the years and months prior, thinking of the thousands of decisions that were made by hundreds of people to get to that moment, and you see a person using that building, it is a special feeling to know that you were a part of the process. When you look at a project like The Willoughby, which has 143 affordable housing units, knowing that you are making an impact in addressing the housing crisis in New York with these units is very rewarding.

What advice do you offer to young people interested in pursuing a career in the real estate industry?

One of the most important things is to be curious and to have a willingness to take on whatever is put in front of you. I would say these traits are what have made my career as interesting and as fulfilling as it’s been for me. I really love what I do, and I believe that is because this is an industry where you learn something new every day.

You need to have a thirst for learning and an openness to take chances when opportunities are presented to you.

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Responsible Growth An Interview with Tram Nguyen, Global Head of Strategic and Sustainable Investments, Bank of America EDITORS’ NOTE As the global What have been the keys to Bank of head of Strategic and Sustainable America’s industry leadership?

Investments, Tram Nguyen leads I think much of our leadership stems and manages all investments made from our strategy. For the past decade, on the company’s behalf, including our strategy has been centered on what those r elated to emerging fund we call Responsible Growth, which managers and climate-focused allows us to drive long-term sustaininvesting. Nguyen brings over 25 able growth while managing risk and years of experience to the role: she providing a return to our shareholders, previously spent eight years as the while also supporting our employees Head of Global Corporate Strategy, and the communities we serve. where she was responsible for the How do you describe Bank of Tram Nguyen overall strategic planning process, America’s culture and values? driving strategic discussions with the There are four tenets that underpin Board of Directors and overseeing all strategic Responsible Growth that define our culture and transactions. Prior to that, she was a Managing values. First, we must grow by serving our clients – Director in the Financial Institutions Group deepening existing client relationships and develwithin the investment bank. Over the course oping new ones. Second, we do this by focusing of her 16-year investment banking tenure, she on our three core client types: people, compaworked on many of the highest profile transac- nies, and institutional investors. Third, everybody tions for U.S. financial institutions, including in the bank is responsible for proactively and those for Bank of America. She currently serves effectively managing all types of risk. And lastly, on the Board of the Partnership with Children. we must grow in a sustainable manner – continuNguyen holds a BSE in biomedical and electrical ously improving how we do our work day-to-day, engineering from Duke University. being a great place to work to attract and retain our employees, and sharing our success with our C O M PA N Y B R I E F B a n k o f A m e r i c a communities. (bankofamerica.com) is one of the world’s leading Will you provide an overview of your role financial institutions, serving individual consumers, and areas of focus? small and middle-market businesses, and large I manage the equity investments platform for corporations with a full range of banking, Bank of America. This includes equity investments investing, asset management and other financial made to enhance the strategic priorities of our eight and risk management products and services. The lines of business, as well as sustainable investments company provides unmatched convenience in the including our investments in emerging women and U.S., serving approximately 66 million consumer minority fund managers and our climate-focused and small business clients with approximately investing. I have been at Bank of America for more 4,300 retail financial centers, including roughly than 25 years with experience that spans across the 2,900 lending centers, 2,500 financial centers bank, including investment banking coverage for with a Consumer Investment Financial Solutions financial institutions and almost a decade leading Advisor, and around 2,300 business centers; strategy for the company. more than 17,000 ATMs; and award-winning How do you define the mission of Bank digital banking with approximately 39 million of America’s Global Strategic & Sustainable active users, including over 31 million mobile Investments team? users. Bank of America is a global leader in My team’s mission is aligned with the wealth management, corporate and investment mission of all businesses at Bank of America, and banking and trading across a broad range of that is driving Responsible Growth. Our investasset classes, serving corporations, governments, ments in women and minority-led funds aim to institutions and individuals around the world. address the significant gap in access to capital for The company offers industry-leading support to entrepreneurs from non-traditional backgrounds. roughly 3 million small business owners through We hope to help narrow that gap by investing in a suite of innovative, easy-to-use online prod- emerging VC funds that are led by a broad specucts and services. Bank of America serves clients trum of leaders. These firms will in turn invest through operations across the U.S., its territories in entrepreneurs to help them secure the capital and approximately 35 countries. they need to grow and scale.

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What has been the impact of Bank o f America’s investment in minority and women-led funds?

We started this program three years ago in 2020 and since then we’ve committed more than $500 million of equity capital to more than 150 funds, 62 percent of which are led by women.

These fund managers together control more than $7 billion of capital and have already invested in more than 1,000 portfolio companies who employ 21,000 people across 40 states. Many of the funds focus on underserved communities and have supported projects such as investing in educational tools for bilingual children, providing lowcost digital health solutions specific to women, and offering credit solutions for those without a traditional credit history.

Will you highlight Bank of America’s impact accelerator program, Bank of America Breakthrough Lab? Bank of America Breakthrough Lab is a global accelerator program for entrepreneurs of early-stage businesses, many of whom are from non-traditional backgrounds. The six-month program gives entrepreneurs access to bank and industry experts and establishes senior-level mentorships, all with the aim of putting the entrepreneurs in a stronger position to raise capital. My team bridges this effort to the ecosystem of venture capital funds that the bank has invested in, with these funds contributing to the accelerator’s curriculum and participating in “pitch day” at the end of the program.

Do you feel that there are strong opportunities for women in leadership roles in the industry?

Over the span of my 25-year career, I’ve witnessed a significant change in the role women play across the industry. Across financial services, women comprise more than 50 percent of the workforce, and representation in the C-suite has grown by +50 percent in the last three years – although still well below equal representation. Looking at our own statistics, half of our global workforce are women, as are a third of our management team. We still have work to do, but there’s been significant progress made with positive momentum.

What advice do you offer to young people beginning their careers?

Always be adaptable and open to learning new things – the leaders I’ve admired most are those that even decades into a career remain passionate about what they’re doing and relentlessly curious.

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WOMEN LEADERS

Three Pillars Of Generative AI An Interview with Lan Guan, Chief AI Officer, Accenture EDITORS’ NOTE Lan Guan serves company that helps the world’s as Chief AI Officer for Accenture. leading businesses, governments, and In this role, she works closely with other organizations build their digital companies across industries and core, optimize their operations, accelgeographies to develop data and erate revenue growth, and enhance AI strategies that drive value and citizen services – creating tangible growth. Guan brings deep expervalue at speed and scale. Accenture is tise in embedding AI into business a talent and innovation led company processes and transforming data with 733,000 people serving clients in into actionable insights and leads. more than 120 countries. Technology Guan is a member of the Global is at the core of change today, and Management Committee. Guan Accenture is one of the world’s leaders Lan Guan also leads the Accenture Center in helping drive that change. for Advanced AI – the AI epicenter that enables enterprises to capture and create What have been the keys to Accenture’s value from their AI investment by leveraging industry leadership? deep expertise, differentiated scalable assets The depth and breadth of Accenture’s and solutions underpinned by data prowess industry expertise is one of our strongest and industry knowledge, and market-leading competitive advantages, and this holds true thought leadership and research. Prior to this in data and AI as well. The data-driven enterrole, Guan was the global leader for Data & AI prise is becoming the AI-driven enterprise, but for Accenture Cloud First, where she focused trends, standards and value varies widely from on transforming data propelled by the Cloud one industry to the next. Our experience has Continuum into actionable plans and scalable enabled us to design industry-specific solutions solutions to maximize market opportunities for that use AI to help companies reinvent themclients. Guan serves on the advisory board of selves and their industries. the AI4All, a nonprofit organization dedicated How do you describe Accenture’s culture to increasing diversity and inclusion in AI and values? education, research, development, and policy.

Accenture has an amazing culture with She is a founding member of the Stanford more than 730,000 talented people across 120 Institute for Human-Center ed Artificial countries, and we’re consistently recognized as Intelligence (HAI) – an institute dedicated to a most admired company and a great place to advancing AI research, education, policy, and work. In fact, our commitment to our people practice to improve the human condition – and culture has been recognized as #1 on the where she established the Accenture Stanford Foundation Model Scholar Program. Guan was listed as one of the Top 25 Consultants and Leaders in AI by The Consulting Report in 2023. She received the Outstanding 50 Asian Americans in Business award in 2023 and was the recipient of the Top Women Leaders in Consulting for 2022. Guan holds an MBA degree in Computational Engineering from the University of Michigan in Ann Arbor, and a PhD ABD in Quantitative Econometrics from Wayne State University. She has been awarded over ten patents in AI-related areas including content recommendations, digital marketing, and sales optimization. Guan is an Adjunct Faculty with The Data Science Institute at Columbia University.

Refinitiv Global Diversity & Inclusion Index for the fourth time in six years. We’ve been on Ethisphere’s World’s Most Ethical Companies list for 16 consecutive years and been ranked #10 among 25 companies on World’s Best Workplaces™ by Fortune and Great Place to Work®.

As a talent- and innovation-led organization, our people have highly specialized skills that help drive our differentiation and competitiveness. We’re committed to a culture of shared success, to investing in our people, to providing them with boundaryless opportunities to learn and grow in their careers through their work experience. Through continued development, training, and reskilling, we help our people achieve their aspirations both professionally and personally. This means fostering a culture and a workplace in which all of our people feel a sense of belonging and are respected and empowered to do their best work. This unwavering commitment to inclusion and diversity starts at the top with Julie Sweet, our chair and CEO. I’m also extremely proud of the fact that Accenture is now 48 percent women with 29 percent women serving as managing directors, showing significant progress on our 2025 goals of gender parity and 30 percent women managing directors.

Will you provide an overview of your role and areas of focus?

I was recently named Accenture’s first Chief AI Officer. This means that I advise clients across industries and geographies on how to

“The data-driven enterprise is becoming the

AI-driven enterprise, but trends, standards and

value varies widely from one industry to the next.

Our experience has enabled us to design industryspecific solutions that use AI to help companies

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reinvent themselves and their industries.”

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“Accenture has worked with AI for over a decade, across numerous industries and functions. Working alongside our clients, we focus on three pillars of generative AI – data, infrastructure, and people.”

use data and AI to drive business value and growth in a responsible way. At Accenture, I’ve built a career out of helping companies turn data into insights and action. Prior to my current role, I led the Data & AI team for Accenture Cloud First, showing clients how modernizing their data in the cloud, and infusing that data with AI, can lead to massive new value.

I have a long history both with Accenture and working in data and AI. My interest in data and AI started when I was a child growing up in China. When I was 16, I built a robot that used data and AI technology to help the other children in my village learn to speak English.

That experience showed me the power of technology and how it can be used to improve our lives and communities.

How is Accenture working with clients to develop data and AI strategies that drive value and growth?

AI is a rapidly changing industry, and keeping up with the technology, deploying it responsibly, and finding and upskilling the right talent to support these changes can be incredibly challenging. Our clients are looking at AI from many angles, from strategy and use case implementations to tech enablement, scaling, to model customization, tuning and training, to talent and responsible AI. We work alongside our clients at every step to modernize programs, develop strategic frameworks, and create efficiencies and digitize more quickly, optimize resources and budgets, encourage innovation, and ultimately reinvent their business.

For instance, a large, global oil and gas company came to us wanting to gain more value from the over one million data points the company had collected. With disparate data sources and repositories, technicians and engineers had to comb through pages and pages of historical documents to try and predict when pipeline maintenance or repairs would be needed. We built a generative AI solution that incorporated hundreds of thousands of data points, and summarizes relevant information for user inquiries. It allows users to “chat” with the company’s data to find what they need in a quick and conversational manner, VOLUME 47, NUMBER 1

speeding up decision-making and giving people the confidence they need to act.

Will you discuss Accenture’s work in embedding AI into business processes and transforming data into actionable insights and leads?

Accenture has worked with AI for over a decade, across numerous industries and functions. Working alongside our clients, we focus on three pillars of generative AI – data, infrastructure, and people. First, companies need to test and adjust approaches to data privacy, model accuracy, bias and fairness, and learn when “human in the loop” safeguards are necessary.

Next, companies must decide whether they have the right technical infrastructure, architecture, operating model, and governance structure to meet the high compute demands of LLMs and generative AI, while keeping a close eye on cost and sustainable energy consumption.

Finally, take a people-first approach.

Success with generative AI requires an equal attention on people and training as it does on technology. Companies should be ramping up investment in talent to address two distinct areas: creating AI and using AI. We’ve taken this approach internally, using AI to create tools that help our people be more productive and add more value. Accenture’s Manage mySales solution, for instance, was developed to bring together sales data from multiple applications to streamline, simplify and integrate the sales management processes from start to finish. We used AI to add in a Win Probability Predictor that exposes positive and negative drivers of predicted win probabilities and shows sales teams how to alter opportunities to win by providing real-time scoring capabilities to sales teams as they work.

When it comes to generative AI, the most important step is to dive in. Companies should be exploring and looking at use cases for generative AI now, because early adopters will turn into fierce competitors.

Will you highlight the Accenture Center for Advanced AI and how you define its mission?

I lead the Accenture Center for Advanced AI – our AI epicenter that enables clients to capture and maximize value from their AI investment by leveraging Accenture’s deep expertise and scalable assets and solutions, all underpinned by research, data prowess and industry knowledge.

Do you feel that there are strong opportunities for women in leadership roles in technology?

It is important to me to create and support opportunities for women in STEM careers. I have a passion for developing and leading programs that address the urgent need for more women in technology, ranging from empowering minority women from immigrant communities with STEM skills to inspiring young women from around the world to innovate.

The prevalence of artificial intelligence and generative AI means the case for more women in technology roles is stronger than ever. Large language models and AI models are only as good as the data they’ve been trained on. We need women involved at every step to help ensure that the data is diverse, that algorithms are inclusive, and models are at a reduced risk for bias.

You devote your time and effort to supporting nonprofits. How do you decide where to focus your efforts?

I support nonprofit organizations that focus on creating opportunities for women to build careers in STEM fields. I serve on the advisory board of the AI4All, a nonprofit organization dedicated to increasing diversity and inclusion in AI education, research, development, and policy. I’m also working with the technology startup community and have brought in several startups to work with Accenture’s FutureofU program, which upskills women with in-demand skills and helps them re-enter the workforce.

What are your priorities for Accenture’s AI efforts as you look to the future?

My priority is to create tangible value from data and AI, not only for businesses, but society and humanity as well. We are helping our clients move from interest to action to value, and in a responsible way. And we are looking to improve individuals and communities. For instance, in our Dublin office, Accenture Labs professionals used clustering and an “embedded knowledge graph” to develop an AI model capable of recommending a personalized exercise plan for any employee.

Another priority is talent. Accenture plans to double its Data & AI workforce to 80,000 people. This means that we have to create multiple pathways to reach that goal. On the upskilling front, we are sending our people through internal training resources and giving options on courses and tracks to follow. We also want to make sure we set up this program so our people, post-training, get on-the-job practical shadowing to learn from the experts. We are also bringing in research scientists and other AI talent through hiring and acquisitions.

Finally, Accenture is committed to encouraging innovation internally and with clients.

With extensive research, technology expertise and unique perspectives, we turn trends into real solutions that address our clients’ most pressing business issues.

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Partnering With Clients An Interview with Tracy Francis, Senior Partner and Chief Marketing Officer, McKinsey & Company EDITORS’ NOTE Tracy Francis and our communities front of mind – is a senior partner with McKinsey always. I do my best each day to try who advises clients and serves as to do right by them. I don’t always get McKinsey’s Global Chief Marketing it right, but it’s a north star.

Officer (CMO), and leads the firm’s What have been the keys to environmental, social, and goverMcKinsey’s industry leadership? nance (ESG) initiatives. She is also I think there are a few things that a current member of the firm’s set us apart. First, we are partners to leadership team, the Shareholders’ our clients. We don’t issue advice from Council. As CMO, Francis overon high and walk away. We work side sees global marketing, communicaby side with leaders, across multiple tions, publishing, and reputation levels of their organization, to help Tracy Francis at McKinsey, and is responsible them come up with ideas and implefor thought leadership, as well as ment them. This is one of the largest strategy to reach, engage, and communicate changes I’ve seen in how we operate over the with clients and stakeholders globally. As an ESG last decade; and it’s one that gives me the most leader, Francis brings together the firm’s client energy. Seeing the results of collaboration with service, insights, actions, and charitable giving clients – both for the individual leaders we work to accelerate sustainable and inclusive growth. with and their organizations – is really fun.

As a client service professional, Francis has over Another key is that we run toward the two decades of business leadership experience toughest problems. That’s always been in our across consumer, retail, and healthcare indus- DNA, and today’s technology is a force multitries. She helps leading companies take a holistic plier. We can always do more, but we feel that view of shifts in market dynamics to find new we’ve built a firm that can help leaders meet sources of growth, scale digital transformations, career-defining moments: unlocking growth and accelerate performance. amid the disruption we see daily, harnessing the power of new technology, decarbonizing across FIRM BRIEF McKinsey & Company (mckinsey.com) their organizations, and helping their workis a global management consulting fir m forces upskill, adapt, and thrive in a changing committed to helping organizations accelerate world. sustainable and inclusive growth. It works with I’d also point to our research: we’re proud clients across the private, public, and social to publish insights on virtually every industry, sectors to solve complex problems and create across our footprint, contributing a fact base to positive change for all its stakeholders. The firm combines bold strategies and transformative technologies to help organizations innovate more sustainably, achieve lasting gains in performance, and build workforces that will thrive for this generation and the next.

How do you define McKinsey’s culture and values?

Our values reflect the thinking of our founder, James O. McKinsey, and one of our early managing directors, Marvin Bower – a major force in shaping our firm. To put them into my own words: We partner with clients to improve their performance significantly; we create an unrivaled environment for exceptional people; and we adhere to the highest professional standards.

Now, how do I define that? How does it shape my day-to-day? The way I think about it is simple: I keep our clients, our colleagues, 124 LEADERS

aid the world’s companies and policy leaders in making decisions on critical economic and business issues.

Last, I’d highlight the nearly $700 million we’ve invested since 2018 to improve our risk and compliance and set the standard for accountability in our profession. When we’ve made mistakes, we’ve acknowledged them and made changes, and today we follow a global client selection policy that’s more rigorous than any other in our industry. At the same time, we won’t let the fear of criticism stop us from doing work we believe makes a positive difference.

Will you provide an overview of your role and areas of focus?

I’m a senior partner in our São Paulo office, and I serve as our firm’s global chief marketing officer. As CMO, I oversee McKinsey’s global marketing, communications, publishing, and reputation functions along with our environmental, social and governance initiatives.

In my client work, I serve local and multinational retail, consumer goods, and healthcare companies in Brazil and across the Americas.

Along with my colleagues, I help companies take a holistic view of shifts in market dynamics to find new sources of growth, scale digital transformations, accelerate performance, and build their leadership skills and capabilities.

How critical is it for the marketing function to be engaged in business strategy?

It’s mission critical. Our research shows that the relationship between CEOs and CMOs

“We partner with clients to improve their

performance significantly; we create an unrivaled environment for exceptional people; and we adhere to the highest professional standards.”

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“First, we are partners to our clients. We don’t issue advice from on high and walk away. We work side by side with leaders, across multiple levels of their organization, to help them come up with ideas and implement them.”

is highly correlated to company performance. In fact, CEOs who place marketing at the core of their growth strategy are twice as likely to have greater than 5 percent annual growth compared to their peers.

CMOs and their teams must ensure that major strategic decisions are made in consultation with an organization’s marketing team.

And organizations have to use modern, techpowered marketing techniques against measurable outcomes. Just like other areas of a business, you must be clear about what outcomes you’re measuring and why they matter.

Will you discuss McKinsey’s commitment to research and thought leadership?

For decades, McKinsey’s published insights have helped readers stay at the cutting edge of management thought, helping them become more effective leaders who can boost the performance of their organizations.

In my role, I am responsible for furthering this commitment, overseeing our thought leadership and strategy to reach and engage clients and stakeholders globally. This includes leading a global publishing team that is filled with world-class writers and researchers.

The breadth of what this team does together with our consultants is too much to summarize here. But I can share a few examples I’m proud of, such as publishing: distinctive insights that help CEOs understand how new technologies like generative AI will transfor m t h ei r b usi ness; authoritative reports that inform decision-making around growth opportunities, supply chain dynamics and other trends that depend on global flows; and our longstanding research on diversity in the workplace, including our milestone Women in the Workplace series.

Just recently, their work was recognized

by Editor & Publisher Magazine with an award for “Best business website.” They are constantly designing new tools and approaches that drive millions of reads of our insights; and if that wasn’t enough, they even helped publish a Wall Street Journal Bestseller – CEO Excellence.

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How is McKinsey bringing together the firm’s client service, insights, actions, and charitable giving to accelerate sustainable and inclusive growth?

Our overarching commitment to accelerating sustainable and inclusive growth informs and guides our ESG agenda. It is our north star for articulating and delivering on our ESG priorities – both internally and for our clients.

At McKinsey, we aspire to be the leading private sector catalyst for decarbonization. We do this through our sustainability work with over 600 clients, our investment of more than $400 million in the last two years, and our firm’s progress toward reaching net zero by 2030.

We also aim to fuel economic growth and prosperity for all. We’ve brought this ambition to life through work on more than 5,000 annual growth engagements, engaging tens of thousands of professionals through our Connected Leaders Academy, and by diversifying our firm’s own recruiting, including adding more than 1,000 new sources of talent last year.

We’ve got a long way to go, but I’m proud of the results we’re seeing. Our clients have contributed 20 percent to global GDP growth, created 1 million jobs per year, and contributed 80 percent of reported CO2 emission reductions.

Do you feel that there are strong opportunities for women in leadership roles in the industry?

Absolutely – but there is much more to be done.

The bright spots: I’ve been in the industry for more than 25 years and witnessed progress and opportunities for women both in consulting and across industries. In fact, our recent Women in the Workplace report found that women’s representation in the C-suite is the strongest it’s ever been, with significant gains made at the VP and SVP levels.

Similar progress is being made in the professional services industry. At our firm, women now represent 48 percent of all colleagues and 49 percent of new hires.

But women’s career ambitions, which our research shows, have never been higher,

and are not yet being fulfilled in the business world. The “broken rung,” a term describing the higher likelihood of women to miss out on early-stage promotions than men, remains the biggest barrier that women face on the path to senior leadership. This has a long-term impact on the talent pipeline and women can never catch up.

Companies can support women’s advancement by focusing on five core areas: tracking outcomes for women’s representation; empowering managers to be effective people leaders; addressing microaggressions head-on; unlocking the full potential of flexible work; and fixing the broken rung, once and for all.

What advice do you offer to young people beginning their careers?

First, don’t be dissuaded from applying to jobs if you don’t meet all the posted criteria, especially when you’re starting out. If you don’t meet the specific education or experience requirements listed, ask yourself what relevant skills you can offer. Focus on your potential.

Second, take every opportunity to learn.

Look for both formal and informal learning opportunities through trainings, mentorship and apprenticeships, and on-the-job experiences that can help you build and expand your skills.

Last, take charge of your professional development. In a world where disruption has become the norm, the ability to learn new things and be flexible is key. But remember, it is up to you to bring focus. You can choose one or two things to doggedly pursue – but it can’t be 20. Understanding your priorities and what matters most is critical.

At McKinsey, we’re seeing these trends play out every day. That’s why we’ve broadened our campus-based sources of talent from about 700 core schools in 2020 to about 1,400 today, with plans to expand to more than 5,000 in the coming years.

Our recruiting teams now use game-based assessments that level the playing field for those without prior business experience. And we are providing learning, development, and apprenticeship opportunities to empower colleagues to think about their own career self-authorship.

You have been with McKinsey for over 25 years. What has made the experience so special for you?

For me, it’s the people. Every day I’m inspired by my colleagues. I learn something virtually every day from my colleagues, and it remains a privilege to work alongside so many leaders and innovators.

It’s also the chance to experience life in other countries. I’ve been fortunate to have spent my career as part of our Sydney, San Francisco, and São Paulo offices. Having the chance to live on three continents, and travel to many more, has given me a rich perspective into different economies and cultures.

Equally meaningful is being able to serve a wide variety of clients on some of their most consequential challenges. Again, even as I try to partner and advise them well, I’m learning something from them virtually every day. It’s a privilege. And it means life is never boring.

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WOMEN LEADERS

A People Organization An Interview with María del Mar Martínez, Senior Partner, Global Risk & Resilience Practice Co-Leader and Global Chief Diversity, Equity and Inclusion Officer, McKinsey & Company EDITORS’ NOTE María del Mar clients acr oss industries on the Martínez co-leads McKinsey’s Risk response, foresight and adaptation & Resilience Practice and advises required to thrive in the context of financial institutions on growth continued disruptions. strategies and organization, innoAs the global Chief Diversity, vation, risk management, and Equity and Inclusion Officer, I lead contr ol. She is also McKinsey’s McKinsey’s efforts to deliver on our global chief diversity, equity, and DEI talent ambitions across the world, inclusion officer. Based in the to better serve our clients with diverse Madrid office, she has more than teams and to build their DEI capa20 years of experience advising bilities and to drive positive societal leading financial institutions in change for women and affinity groups María del Mar Martínez Europe and Latin America on their with leading research, partnerships, most complex business challenges, pro-bono work and charitable giving. including growth and innovation strategies as How do you define McKinsey’s culture? well as the management and control of risks McKinsey’s culture is a strong one built and capital. Martínez has advised several insti- on the foundation of our dual mission: to serve tutions on growth programs through high-value our clients and develop our people. As much as customer segment approaches and product we put the client at the heart of all we do, we innovation in the areas of consumer credit are very much a people organization seeking to and others. She has also led commercial trans- create a place for all to thrive. These values are formations, including commercial produc- embedded in all that we do, which has crafted tivity programs, digital sales and distribution our culture as a firm. strategy, and the derived organizational and Three aspects of McKinsey’s culture that I change implications for banks. Additionally, love most and continue to excite me: she has contributed for years to the development 1. Learning and apprenticeship is a top of risk management knowledge and capabilities priority. The firm is dedicated to providing top in Europe. Martínez has always demonstrated notch development opportunities for all a firm commitment to women and diverse colleagues, from formal training to apprenticeship groups’ professional advancement in McKinsey, in other companies, and in society. She’s been McKinsey’s global chief diversity, equity, and inclusion officer since July 2021, and prior to that, she held that role for its European region.

Martínez earned a BA and MBA degree in business administration from ESADE (Barcelona), a master’s degree in international finance from Ecole des Hautes Etudes Commerciales (Paris), and a master’s degree in international management from Stern School of Business, New York University.

to mentorship. You feel that growth and development are a significant piece of the culture the moment you begin your career here. I have been at McKinsey for more than 25 years and I continue to learn every day.

2. McKinsey is a caring meritocracy. We are invested in supporting each individual’s abilities and talents to help them succeed at the highest level. Our feedback model is based on strengths and areas of future potential, giving everyone the opportunity to excel in their path.

This is unique to McKinsey, and it’s something that attracted me when I was interviewing, and continues to give me comfort 25 years in.

3. As a partnership, we lift one another up. The partnership model gives you full autonomy to be entrepreneurial and try new things. We are encouraged and supported to collaborate with this group of peer partners to generate impact. At the end of the day, these colleagues become close friends.

Will you provide an overview of McKinsey & Company’s Global Risk & Resilience Practice?

Our Risk & Resilience practice works with clients across industries to understand, manage, and overcome the risks that are thrown at their organizations every day. This is a time of extraordinary uncertainty with macroeconomic volatility, geopolitical shifts, climate change,

“McKinsey’s culture is a strong one built on the

foundation of our dual mission: to serve our clients and develop our people. As much as we put the

Will you highlight your role and areas of focus?

As a Senior Partner at McKinsey & Company, I have more than 25 years of experience serving organizations on risk & resilience and growth strategies, organization and innovation. I am the Global Co-Lead of our Risk & Resilience practice and the Global Chief Diversity, Equity, and Inclusion (DEI) Officer. I am one of the 22 members of McKinsey’s Global Executive Committee.

As the Global Risk & Resilience practice co-leader, I lead McKinsey’s service to our 126 LEADERS

client at the heart of all we do, we are very much a people organization seeking to create a place for all to thrive. These values are embedded in all that we do, which has crafted our culture as a firm.”

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“We do extensive work uplifting diverse communities through instrumental partnerships, pro-bono work, and charity giving. Additionally, our Connected Leaders Academy is a training program for driving the next generation of diverse leadership that has welcomed over 20,000 participants since 2020.”

cybersecurity threats, and public health emergencies, to name a few. We equip organizations to boldly embrace these uncertainties, embed resilience, and enable growth.

The key areas of focus are Resilience transformations as well as regulatory remediation, with strong capabilities in Capital, Liquidity, and Balance Sheet Management, Credit and Market Volatility Risks, Non-Financial Risk, and Compliance, Data and Model Risks, Climate & ESG Risks, Cyber Risks, Geopolitical Risks, as well as Enterprise Management and Crisis Response. We leverage proprietary data, advanced analytics and distinctive assets to partner with our clients to deliver on their risk and resilience strategy, capability building, and impact implementation.

What have been the keys to the strength and leadership of the Global Risk & Resilience Practice?

The disruptions that organizations are facing today are more complex and interconnected than ever before. We help our clients to identify acute current vulnerabilities, but also help them to set up institutional capabilities to establish corporate foresight – this can range from developing early warning systems along a set of key indicators and the establishment of recurring processes to assess scenarios. For example, we have been working with an automotive player to set up actionable early warning systems to identify potential disruptions in their supply chain by using generative AI to identify potential defaults in their supplier base. This solution enabled them to act faster than the competition in taking remediation measures, thus securing a competitive advantage.

In the world of continued disruptions today, building the muscle of resilience is more important than simply mitigating risk. We want our clients to prepare, respond, and adapt.

McKinsey prioritizes the areas that move the needle the most to make this possible in times of crisis. We create the strategy that will drive VOLUME 47, NUMBER 1

the most impact over time to build the muscle of resilience for our clients. This means that we don’t only manage the downside and potential losses resulting from risks, but also help our clients understand how risks can unlock opportunities. This can range from exploring new markets, capturing share from less agile competitors, making strategic acquisitions, and building trust amongst stakeholders. We aim to create opportunities to thrive for our clients and are a strong advocate for elevating risk functions in non-financial corporations to take a stronger role in being more involved and perceived as enablers of growth. We believe with the advent of generative AI, risk functions will play a much more significant role in managing this new disruptive technology responsibly by setting up the necessary controls and frameworks, and ensuring critical thinking, but also maintaining human creativity.

McKinsey’s strength also lies in the ability to connect the board room to the engine room in understanding and responding to the risk landscape with deep industry and regulatory expertise. We bring these technical topics to the top of the house in a way that the boardroom can act and make decisions on. Much of this connection is possible through the incredible people at the firm with deep technical expertise.

In addition to our work with clients, we are also co-conveners of the Resilience Consortium with the World Economic Forum. This group brings together key stakeholders to accelerate collective action across key resilience drivers for the global economy.

How critical is it for McKinsey to build a diverse and inclusive workforce?

McKinsey has long been committed to advancing diversity, equity, and inclusion within our own firm, as well as with our clients, and driving positive societal change.

At McKinsey, we see DEI as an imperative to attract and grow the world’s best talent and therefore, best serve our clients. Our work

is just better when we have diverse teams. We support our women and affinity groups with top-notch programs and benefits to make them successful. Additionally, we invest in ensuring inclusive leadership and culture by creating practical and actionable ways to implement inclusion in day-to-day work.

For our clients, we help catalyze change across industries, serving clients on DEI issues directly and integrating DEI into broader transformational work. We also help companies better serve diverse consumers to ignite change and impact in their communities. Since 2020, we have led more than 330 efforts with our clients to specifically build and empower their diverse workforces through a suite of proprietary tools and DEI experts.

McKinsey makes significant investments globally to generate research and insights for driving societal change. In fact, we have been at the forefront of generating insights to demonstrate that diversity correlates with better organizational performance. We do extensive work uplifting diverse communities through instrumental partnerships, pro-bono work, and charity giving. Additionally, our Connected Leaders Academy is a training program for driving the next generation of diverse leadership that has welcomed over 20,000 participants since 2020.

Do you feel that there are strong opportunities for women to grow and lead in the industry?

Yes, I do believe there are opportunities for women to grow and lead in the consulting industry, but that doesn’t mean these opportunities come without challenges. Historically, women have been less represented in this field, and not having women mentors or sponsors for senior women today can be difficult. However, there have been positive shifts for women to step up and lead in the past few years, which continues to pave the way for other women.

Our research finds that in the past ten years there has been progress at the top of the pipeline across industries. In 2015 there were 1 in 6 women represented in the C-suite, but now we see that number is 1 in 4. That is something to celebrate and a reminder for all to continue working towards change, because with rigor and dedication it can happen. It won’t happen overnight, but I am optimistic that the industry sees the need for more women and is committed to creating environments where they thrive.

What advice do you offer to young people beginning their careers?

There are three pieces of advice I offer to those beginning their careers. First, don’t be afraid when you are going after your goals.

You are at your best when you are strong and brave, which will only benefit you. Second, if you want something, go for it. Don’t wait for others to come to you or give you a nudge – go get it yourself. Only you know exactly what you want, and you have the power to go after it. Finally, your career will only be sustainable if you are able to fully recharge and replenish.

Find what gives you energy and prioritize time for it regularly.

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WOMEN LEADERS

People-Centered An Interview with Ilene Anders, Chief Financial Officer, Alliant Insurance Services EDITORS’ NOTE Ilene Anders What have been the keys to oversees the company’s finance, Alliant’s industry leadership and accounting, and IT operations. how do you describe the Alliant She brings a multidisciplinary difference? approach to the position well-suited Alliant has gained a leadership for an industry where the worlds of position in the industry because of the finance and technology continue strength of our entrepreneurial culture, to merge. Anders previously served financial discipline, and stellar client as Alliant’s Chief Infor mation service. Our leadership has worked Officer, wher e she cr eated the to build a structure that provides our vision for client-facing technoloemployees with the autonomy and gies, directed business intelligence, flexibility to grow their business, while Ilene Anders and oversaw the integration of providing the tools and resources that systems and infrastructure. Prior empower them to deliver the highest to that, she was Alliant’s Vice President and level of service and sophistication to their Director of Financial Planning and Analysis. clients. We also have embraced technology as She also has experience in investment banking a means to help drive success through inteland corporate development with Prudential ligence tools and automation for both Alliant Volpe Technology Group, GMAC-RFC, and and our clients. has served as a strategic consultant to startWill you highlight Alliant’s culture and up organizations. Anders holds a bachelor’s values? degree in finance from Boston University and Our culture is an entrepreneurial one, a master’s degree in business from San Diego but at the center of that is people. So, our State University. values have to be people-centered. That’s true both in terms of who we hire and the relationCOMPANY BRIEF Alliant Insurance Services ships we maintain with clients. We believe (alliant.com) is one of the nation’s leading if you build a place where people want to distributors of diversified insurance products work, hire the best-in-class, and provide them and services. Operating through a national with the tools to collaborate and succeed, the network of offices, Alliant offers a comprehen- results are just a reflection of those values sive portfolio of services to clients. and actions.

How critical is it for the CFO role to be engaged in business strategy?

The role of a CFO is broader and more diverse than ever before. Central to this evolution is the influence of technology, which is woven into every part of our business. Whether it’s internal reporting, external client tools, or information for investors, a CFO has to be able to envision the use of data and current technologies to accomplish these tasks and drive differentiation in the industry. Look at the buzz and impact generative AI has had in just the past few months. CFOs need to understand the potential impact – good or bad – to the company and industry when making investment decisions about new tools that emerge.

Additionally, capitalizing a company continues to change, requiring a CFO to be continuously engaged in every aspect of the business strategy to ensure its capital needs will be met in the short term and long term. In a rapidly growing company, that is always a focus.

Will you discuss your multidisciplinary approach to the role and how valuable this approach has been in an industry where the worlds of finance and technology continue to merge?

My approach as CFO is largely influenced by my dual background in finance and technology. In addition to my longtime focus on finance and corporate development, I also spent

“Our leadership has worked to build a structure that provides our employees with the autonomy and flexibility to grow their business, while providing the tools and resources that empower them to deliver the highest level of service and sophistication to their clients. We also have embraced technology as a means to help drive success through intelligence tools and automation for both Alliant and our clients.”

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“Our culture is an entrepreneurial one, but at the center of that is people. So, our values have to be people-centered.”

five years as CIO of Alliant. This experience has been instrumental in helping me navigate the changing landscape of the insurance industry and better leverage technology in my role.

Technology can be an accelerator of strategy and a differentiator with clients. But technology is only effective if there is solid data feeding it and the users have positive experiences with it. My approach to finance is no different – it’s about how we can better leverage data and tools to drive analytics, in turn increasing efficiencies, and enable us to grow in a more strategic and disciplined way.

How important has Alliant’s financial strength and discipline been to the company’s ability to grow and lead?

Financial discipline is core to Alliant. We have been highly strategic in how we approach spending on M&A, for example, in addition to other growth initiatives. This discipline also drives our ability to ensure that acquisitions fit into our culture and strategic growth plans. We understand that, as we grow, we need to maintain a focus on innovation. We approach innovation in the same way – disciplined, but with a focus on strategic outcomes. This has enabled us to gain a strong market share and retain our strength and independence as an organization while maintaining an entrepreneurial focus.

Will you discuss Alliant’s commitment to build a diverse and inclusive workforce?

We believe that building a diverse workforce is critical to our long-term success. There continues to be a strong focus on recruiting diverse employees and providing diversity and inclusion programming to our existing workforce. We also made a strong commitment to impacting the future of our industry through the launch of Alliant Insurance Foundation.

As a nonprofit organization, the Foundation is focused on expanding career growth and advancement opportunities in insurance for individuals with dif ferent backgrounds and life experiences. In partnership with Southern University and the Louisiana DOI, the Foundation is building one of the first Risk Management degree programs at an HBCU. Alliant also has an active focus on building and supporting internal employee resource groups (ERGs), with nearly a dozen in existence. These ERGs create a strong sense of community and provide resources, relationships, and alliances that are essential to the health and productivity of Alliant’s workforce.

Do you feel that there are strong opportunities for women in leadership positions in the industry?

Insurance has long been a male-dominated industry, but we are now seeing a diverse and dynamic generation of women leaders come to the forefront. Although opportunities have existed for women to advance, there is now

a more focused, more unified commitment to helping women reach the C-suite. Most importantly, there seems to be a commitment to helping women find their voice in the workplace. Mentorship also plays a crucial role in accelerating women in leadership, and I have personally had the privilege of mentoring several emerging leaders in our business. By sharing our experiences and providing growth opportunities, we should see this grow in scope which is a positive development in our industry and in the greater business landscape.

What do you tell young people about the type of career the insurance industry offers?

Contrary to the long-held belief that insurance isn’t an “exciting” business, our industry provides a broad range of opportunities for young professionals to use their unique skill sets to chart a path for long-term growth and success. Our industry is highly diverse, incorporating consulting, finance, sales, marketing and communications, technology, law, and compliance. Additionally, the insurance industry is in a transitional phase where innovation is welcomed and encouraged. This provides an opportunity for someone to make their own mark on the industry and help shape the future.

Finally, the insurance industry has proved more resilient than others in times of economic uncertainty, which means there is more job stability and financial security over the long run.

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“Technology can be an accelerator of strategy and a differentiator with clients. But technology is only effective if there is solid data feeding it and the users have positive experiences with it. My approach to finance is no different – it’s about how we can better leverage data and tools to drive analytics, in turn increasing efficiencies, and enable us to grow in a more strategic and disciplined way.”

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Dream Big An Interview with Hilary Allard Goldfarb, Senior Managing Director, Mid-Atlantic, Rockefeller Group EDITORS’ NOTE Hilary Allard Goldfarb variety of product types such as multiis Senior Managing Director for family, industrial, and trophy office. The Rockefeller Group and head of opportunity to identify the most compelDevelopment in the Mid-Atlantic ling deals in my region really gets me region. In this role, Goldfarb leads out of bed each morning, alongside my the company’s r egional office, job to grow and lead an exceptional based in Washington, DC, with team. Currently, I oversee a developprimary responsibility for growing ment pipeline in the Mid-Atlantic that the company’s development portfolio totals $1.776 billion in cost – a pretty through the sourcing of multifamily, memorable year for our nation’s capital. office, and mixed-use projects.

Will you discuss Rockefeller Prior to joining Rockefeller Group Group’s business in the Mid-Atlantic Hilary Allard Goldfarb in 2018, Goldfarb was Senior Vice region?

President, Bozzuto Development For us, the development – or Company, where she directed the development redevelopment – opportunity always leads. process for multifamily and mixed-use projects While Rockefeller first entered the DC market throughout the Baltimore-Washington region. in 2011 in an investment management capacity, Earlier, Goldfarb was Development Director at today I run a development line of business.

ProMark Real Estate, where she led development We take development risk and post developservices for the company’s commercial portfolio. ment returns, whether through ground-up She also worked at the Corcoran Gallery of Art new construction, the repositioning of existing in Washington, DC, during a capital campaign assets, or adaptive reuse. Many of our projects to build a Frank Gehry-designed expansion and are co-developments with local joint venture has worked on economic development initiatives. partners and we are currently active in seven Goldfarb has a bachelor’s degree from Princeton different jurisdictions across the Mid-Atlantic.

University and a master’s degree in urban planning from Harvard’s Graduate School of Design.

Will you highlight Rockefeller Group’s current development projects in the Mid-Atlantic region?

One of our most exciting projects underway, because of its timeliness and scale, is 600 Fifth Street NW. This is one of those generational development opportunities – we are redeveloping an entire city block right next door to both the Capital One Arena at Gallery Place and the National Building Museum in Judiciary Square.

It simply doesn’t get much better than this.

Designed by Pickard Chilton, we are poised to deliver the best building, on a magnificent block, in the greatest city in the world. Here, we partnered with Stonebridge Associates and secured a 99-year ground lease with the Washington Metropolitan Transportation Authority (Metro).

When construction completes in 2026, we will deliver the first multi-tenanted building on site and the only new trophy office in downtown DC. The plan calls for a new façade, new outdoor terraces on every other floor, and the addition of several floors to establish spectacular views and rooftop amenities. We broke ground on the redevelopment this past summer,

COMPANY BRIEF Headquartered in New York, Rockefeller Group (rockefellergroup.com) has nine U.S. offices. The company’s track record extends nearly a century, with its roots traced back to the development of Rockefeller Center. This history has provided the foundation for deep expertise, an influential brand in real estate, financial stability and an expectation for distinctive projects that provide value to partners, clients, and communities. The company’s $5 billion development pipeline totals more than 30 projects.

How do you describe Rockefeller Group’s culture and values?

We are passionate. A commitment to excellence underpins everything we do, and hard work coupled with integrity drives value for our partners and the communities we serve. It is rewarding to work alongside so many talented and caring people every day.

Will you provide an overview of your role and areas of focus?

I run the DC office for the company, as well as our development business in the Mid-Atlantic. My main focus is sourcing, structuring, and executing new development deals. Our pipeline includes a 132 LEADERS

A rendering of 600 Fifth Street NW, a 400,000-square-foot redevelopment underway

by Rockefeller Group and Stonebridge Associates in downtown Washington, DC

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“We are passionate. A commitment to excellence underpins everything we do, and hard work coupled with integrity drives value for our partners and the communities we serve. It is rewarding to work alongside so many talented and caring people every day.” securing equity financing from Mitsubishi Estate New York and Taisei U.S.A., and announced Crowell & Moring as the anchor tenant for half of the building. We expect to be the only new office construction delivering for several years, and we’re actively showing the remaining space to tenants in the market now.

Also on the office front, both Boro Tower in Tysons, Virginia and 1901 L Street NW have attracted strong demand in their respective markets and are experiencing stabilized occupancy rates. I am very proud to have leased 600,000 square feet during the pandemic with our partners at The Meridian Group.

And finally, we just announced a partnership with The Matan Companies to develop five million square feet of industrial in proximity to the Port of Virginia, which itself is receiving a tremendous amount of investment from the Commonwealth and is expected to grow substantially in the coming years. Rockefeller has four decades of experience in U.S. industrial development with a concentration in port-centric markets and inland distribution hubs and it’s pretty exciting to bring that fast ball to my market.

How important is it for Rockefeller Group to build a diverse and inclusive workforce?

We spend many years working on very complex, often large, and certainly demanding projects. Collaboration, a diversity of experience and perspective, as well as creative problem-solving is simply required. We cannot innovate without it. Also, real estate touches so many lives. We build homes. We design flexible office space for the next generation of workplace solutions. And we implement distribution and warehousing facilities to meet evershifting supply chain strategies. So, as you can imagine, rigorous teamwork and real diversity results in better outcomes on a daily and longterm basis.

Do you feel that there are strong opportunities for women to grow and lead in the real estate industry?

Of course. It’s a no brainer. And especially on the development side of our business, which rewards taking diligent, well-managed risk. As a real estate developer, at any given time there are always a few dozen risks or

balls up in the air on each project. The juggle, an ability to multi-task, and really to prioritize and price risk/reward efficiently are key superpowers. Plus, we’re pretty good at seeing around corners.

What has made the real estate industry so special for you?

The people. In DC, even our fiercest competitors are our very closest friends. It fosters a real sense of accountability, of giving back, of service. I am truly grateful for the privilege to work in a city I love with so many impressive people.

What advice do you offer to young people interested in a career in a real estate?

Hard work gets noticed and an attention to detail really matters; mentorship is a two-way street. And most importantly – dream big, like Roberto. It’s a reference from one of my favorite children’s books by Nina Laden called The Insect Architect. The story is about Roberto (a termite) who builds rather than eats woodframed construction. His mentors are starchitects like Hank Floyd Mite and Fleas Van Der Rohe. It’s a gem.

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“One of our most exciting projects underway, because of its timeliness and scale, is 600 Fifth Street NW. This is one of those generational development opportunities – we are redeveloping an entire city block right next door to both the Capital One Arena at Gallery Place and the National Building Museum in Judiciary Square.

It simply doesn’t get much better than this.”

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Clinical Excellence An Interview with Jodi L. Cohen-Ansari, MPA, Chief Strategy Officer, Mount Sinai Health System EDITORS’ NOTE Jodi Cohen-Ansari Mount Sinai Hospital, Mount Sinai joined Mount Sinai in 2008 as Queens, Mount Sinai St. Luke’s, Senior Director of Business and Mount Sinai South Nassau, Mount Strategic Planning. She became Vice Sinai West, and New York Eye and President of Business Planning when Ear Infirmary of Mount Sinai – have a Mount Sinai Health System merged vast geographic footprint throughout with Continuum Health Partners. the New York metropolitan region.

In 2019, Cohen-Ansari was promoted to Senior Vice Pr esident of the How do you describe Mount Health System. Before coming to Sinai Health System’s culture and Mount Sinai, Cohen-Ansari held values? several roles at St. Vincent’s Hospital Mount Sinai is made up of Jodi L. Cohen-Ansari between 2001 and 2008, ultimately e x t r e m e l y intelligent and highly serving as Vice President of Finance motivated and dedicated physicians, and Clinical Services. From 1999 to 2001, administrative leaders and staff. We maintain she was Senior Associate-Healthcare Regulatory a “can-do” attitude and always proceed with Gr oup at Pricewater houseCoopers, and a strong sense of integrity. As our leaders Assistant Manager-Patient Financial Services are so bright and hard-working, the bar for at Memorial Sloan Kettering Cancer Center performance is set very high. from 1994 to 1999. In her current role, CohenWhat have been the keys to Mount Ansari performs financial and market analysis Sinai Health Systems’ industry leaderto guide Mount Sinai’s multimillion-dollar ship and how do you define the Mount clinical investments; develops and executes Sinai difference? external clinical partnerships across New York The Mount Sinai team takes its responCity, New York State, and New Jersey; and sibility to provide high-quality healthcare to evaluates program development and physician our community very seriously. We work to recruitment across the Health System’s eight make processes more efficient. We seek to be hospitals, among other responsibilities. Cohen- on the cutting edge. We want to work with the Ansari earned her BA degree in history/law best and brightest in each field. This overlaps and society at Binghamton University and her with our educational mission which is a large master of public administration from New York component of the clinical excellence we deliver.

University’s Robert F. Wagner Graduate School of Will you provide an overview of your Public Service. role and areas of focus?

I direct our business planning function.

INSTITUTION BRIEF Mount Sinai Health System This implies that I ensure our investments in (mountsinai.org) encompasses the Icahn School new providers and programs are assessed to of Medicine at Mount Sinai and eight hospitals, ensure they will result in a positive return. That as well as a large and expanding ambulatory return is not always financial in the first place, care network. The eight hospitals – Mount but might be reputational. I tend to focus on Sinai Beth Israel, Mount Sinai Brooklyn, The the financial performance of these investments

to ensure we can continue to fund our mission.

I negotiate the budget for school purchased services which is in excess of $650 million.

This is a difficult role as it walks the tightrope between what is a nice to have versus what is a necessity. We want to keep moving our organization forward but that can be very costly in the short-term and gains are not realized in the short-term. In my role, I am a financial steward working to ensure we are cost conscious in an effort to serve as many patients as possible.

How critical is it for Mount Sinai to develop and execute external clinical partnerships?

Mount Sinai is one of the few local players that has executed on external partnerships. We know we can’t always get to market with the speed required, but external clinical partners are able to. It is worthwhile for us to participate in this quick-to-market growth.

It allows us to participate without requiring human and real capital investment during the start-up phases.

Will you discuss Mount Sinai’s commitment to build a diverse and inclusive workforce?

Mount Sinai has put a lot of resources into creating a diverse and inclusive workforce. We have created a movement that fosters engagement in this commitment across management in hiring decisions, promotion opportunities and student engagement. We seek representation from our diversity leaders when we discuss corporate strategy and especially HR policies.

What do you see as Mount Sinai’s responsibility to be engaged in the communities it serves?

We have so many programs that assist the community. We have had an active visiting

“The Mount Sinai team takes its responsibility to provide highquality healthcare to our community very seriously. We work to make processes more efficient. We seek to be on the cutting edge.

We want to work with the best and brightest in each field.”

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Mount Sinai Health System on Manhattan’s Upper East Side

doctors program for decades that works to provide care to home-bound patients. This is an expensive model that we work to maintain from a budget point of view annually. We also serve our employees through innovative programs including providing mental health support which is very important in the post-pandemic workplace. We have rolled out population health programs that help to coordinate care for underserved populations as well as diabetes management programs.

We train other hospitals in the creation of the diabetes program at little cost to them. The list is too long to note here.

Do you feel that there are strong opportunities for women in leadership roles in the industry?

Absolutely. A large portion of our leadership team is women. We work together beautifully.

I wish I had known that healthcare, outside of the clinical roles, was an opportunity to pursue when I first went to college. I would have been a lot more secure about the direction I wanted to go. I kind of fell into healthcare as a temp employee during college and knew this was where I was meant to be.

There are so many roles that we can play. The best part is that we are contributing to society

in fulfilling important functions of keeping accessible, quality healthcare available for our patients.

What advice do you offer to young people interested in pursuing a career in medicine?

Try to find an internship position. It is a good idea to experience the environment you plan to work in prior to committing so many years of your life to education and training.

Also, think beyond medicine. There are so many problems to solve in healthcare and while medicine is the front door, there are so many other roles that a physician is asked to fill.

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“Mount Sinai is one of the few local players that has executed on external partnerships. We know we can’t always get to market with the speed required, but external clinical partners are able to. It is worthwhile for us to participate in this quick-to-market growth.”

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WOMEN LEADERS

Smarts, Heart, And Courage An Interview with Lisa Lutoff-Perlo, Vice Chairman, External Affairs, Royal Caribbean Group EDITORS’ NOTE Lisa Lutoff-Perlo, positions in our company, and I naviVice Chairman of External Affairs gated different areas in the company at Royal Caribbean Group, is a ranging from Sales, Marketing, high impact leader in the travel and Operations, and then the C-suite. hospitality industry whose vision I learned many lessons along my way and strategy not only propelled that helped me achieve all that I did Celebrity Cruises to achieve transthroughout my career. The experiformational financial results as a ences I had were a key reason why brand within the Royal Caribbean I was ready and selected for the CEO Cruises Ltd. (RCL) portfolio, but also of Celebrity and I believe being open dramatically increased the number to learning, trying new things, gaining of w omen in leadership r oles new experiences, and not following a Lisa Lutoff-Perlo throughout the Celebrity brand. linear path can work for others, just Her passion for building extraorlike it did for me. dinary ships, creating unique experiences, and What were the keys to your ability to opening up the world through travel has brought shatter the glass ceiling in a traditionally recognition and countless awards to her and male-dominated industry?

Celebrity Cruises. Lutoff-Perlo and Celebrity I never let my gender stand in my way have achieved global impact, earning her a and I never thought of it as a barrier to what I reputation as a trailblazer bringing transfor- wanted to accomplish. Neither did the men mation, diversity and inclusion into the travel who I worked with who promoted me into the and hospitality industry and onto the bridges of positions I held in my career at our company. ships. Lutoff-Perlo is a member of the Board of That said, there were times that my gender was Directors of Fortune 500 company AutoNation, a factor when I was appointed to certain roles actively lending her expertise to numerous that no other woman had held or even been nonprofit boards. She shares her power ful part of the executive leadership teams that I career stories and lessons learned in her leader- joined. A key to my ability to shatter the glass ship book, Making Waves: A Woman’s Rise to the ceiling, to be successful and keep moving up Top Using Smarts, Heart, and Courage, avail- the ladder, was that I knew that I needed to able in February 2024. establish credibility among the skeptics and prove each day with every interaction that there COMPANY BRIEF Royal Caribbean Group was a reason I was chosen for my position – and (royalcaribbeangroup.com) is one of the leading I let being a great leader be the one thing that cruise companies in the world with a global fleet resonated with everyone, regardless of role or of 64 ships traveling to approximately 1,000 gender. I also learned to ask for help from those destinations around the world. Royal Caribbean I was leading, admit I didn’t know as much Group is the owner and operator of three award winning cruise brands: Royal Caribbean International, Celebrity Cruises, and Silversea Cruises, and it is also a 50 percent owner of a joint venture that operates TUI Cruises and Hapag-Lloyd Cruises. Together, the brands have an additional 10 ships on order as of September 30, 2023.

as they did about their jobs, and show them the respect they deserved for all they have done and accomplished as well. I made my gender a non-issue any time it was one. And the other thing that enabled me to continue to achieve what I did in a male-dominated industry is that I was successful, driven, got results, and learned the business inside out.

How did you lead Celebrity Cruises through the tumultuous uncertainty of the COVID-19 pandemic?

None of us ever imagined that our industry and business could be completely shut down for 15 months, but it was and I learned my most valuable leadership lessons during that time. I learned that I needed to pivot my style in a profound way. I needed to go from being a leader primarily focused on driving our results and achieving our Key Performance Indicators, to being a leader that filled people with hope, optimism, encouragement, and confidence that we would be back – and to stay with us until we did. I needed to put everyone else first when I realized how much people were counting on me to make them believe that everything was going to be OK, even if I didn’t always believe that myself. I learned that leaders need to pivot – sometimes dramatically. And if you can’t – well, you aren’t a great leader.

What interested you in writing the book, Making Waves: A Woman’s Rise to the Top Using Smarts, Heart, and Courage, and what are the key messages you wanted to convey in the book?

Just like becoming President & CEO of Celebrity Cruises, I never thought I would end

“The experiences I had were a key reason why I was ready and selected for the CEO of Celebrity and I

Will you discuss your career journey?

My career journey was quite interesting and unexpected. I began in an entry level field sales position in 1985 and ended up being appointed to President & CEO of Celebrity in late 2014 and held that position until 2023, when I decided after 39 years that it was time to write a new chapter in my life and career. I was appointed as the first woman to ever hold three different 136 LEADERS

believe being open to learning, trying new things, gaining new experiences, and not following a linear path can work for others, just like it did for me.”

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“None of us ever imagined that our industry and business could be completely shut down for 15 months, but it was and I learned my most valuable leadership lessons during that time. I learned that I needed to pivot my style in a profound way. I needed to go from being a leader primarily focused on driving our results and achieving our Key Performance Indicators, to being a leader that filled people with hope, optimism, encouragement, and confidence that we would be back – and to stay with us until we did.” up being an author. It never crossed my mind.

The reason I ended up writing Making Waves is because so many times during my tenure in the role and as I told my story, talked to other women (and men), accomplished all I did for Celebrity and the industry, I kept hearing over and over again, “You need to write a book.”

Finally, after my team spent some time telling me all the reasons why I really did need to write a book, I decided to do it and here’s why. I believe that if I could do it, anyone can. I learned so many things throughout my career that helped me be successful and accomplish things I never thought possible. I wanted to share those learnings to help others as they are navigating their own journeys and lives.

What do you feel are the keys to effective leadership?

I summed those up in the subtitle of Making Waves. To be a great leader and accomplish great things you need three things. First,

smarts – without intelligence you can’t make it into these types of roles. And being smart sometimes just means surrounding yourself with smart people who fill in your gaps and know more than you do. I made that a practice. Some leaders think that shows weakness. Not me. I believe hiring smart people shows strength.

The second thing is heart. We have to lead with heart. It truly matters. When people who work with you and for you know that you genuinely care about them, they will genuinely care back.

And when they do, the discretionary effort you will get is priceless. Many high-level leaders just don’t understand or value heart enough. And, lastly, but probably most important, is courage.

Leadership takes courage. Accomplishing great things means taking risks, which takes courage.

Picking yourself up after a failure takes courage.

Being a great leader takes courage above all else.

How do you describe your management style?

“Leadership takes courage.

Accomplishing great things means taking risks, which takes courage. Picking yourself up after a failure takes courage. Being a great leader takes courage above all else.”

My style is fair, but I have always held others and myself highly accountable. I empower people to do their jobs and don’t micromanage them. I guide them and push them to do better and be better than they ever thought they could be. And I do it while letting them know I care deeply about them and their success.

Do you feel that there are strong opportunities for women to lead in the industry?

Yes, I do. Women have come a long, long way in our industry – especially over the last 10 years. Many women are leading cruise brands. At Celebrity we increased the percentage of women on our bridges from 3 percent to 33 percent – and the average in the maritime industry is 2 percent. Women hold many more leadership roles on the operational side of our business ship and shore. As I said when I was appointed to my position as President & CEO of Celebrity, “I might be the first, but I don’t want to be the last.” I worked to ensure that I was successful so that I could pave the way for many other women who would come after me.

With all that you accomplished in your career, were you able to enjoy the process and take moments to celebrate the wins?

I got better at that over time. Based on how I am wired, I am oftentimes thinking about what else there is to do and accomplish, but I learned, based on a lot of feedback and experience, that it is really, really important to stop and celebrate all the wins along the way. That’s important for me or any leader, but it’s even more important for our teams. I have had so many wins and so many great and memorable experiences throughout my career. Over time, I enjoyed the process and celebrated the wins every chance I got.

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WOMEN LEADERS

Inspiring The Next Generation An Interview with Wendy Hilliard, Founder and Chief Executive Officer, Wendy Hilliard Gymnastics Foundation EDITORS’ NOTE Wendy Hilliard Cup, and was the lead in developing (wendyhilliard.org) has long been the New York City Triathlon, which is a major force in women’s, Olympic, now a sold-out annual event. In and community sports. She was 2006, she designed, programmed, the first Black rhythmic gymnast and dir ected the Gymnastics and to represent the United States globRock Climbing Center for Aviator ally, a n d s h e r e m a i n e d o n Sports and Recreation, a multimilt h e Rhythmic Gymnastics National lion-dollar, multi-sport complex Team a record-setting nine times, in Br ooklyn, New York. Hilliar d serving twice as National Team currently serves on the board of the Captain. Hilliard competed in Armory Foundation as well as The t h r e e Wo r l d C h a m p i o n s h i p s advisory boards of Power Play NYC Wendy Hilliard a n d t h e 1 9 8 4 Olympic Trials, and Black Women in Sports. She was and traveled to over 15 foreign a founding member of the Sports and countries. She was a four-time U.S. National Arts in Schools Foundation, Women in Sports Team Coach and coached 1996 Olympian and Events (WISE), and Antigravity, an interAliane Baquerot Wilson. She is a Master of national per for mance company. Hilliard Sport, an honor for developing an Olympic studied Russian and Physical Education at athlete. In 2008, Hilliard was inducted into Wayne State University and graduated from the USA Gymnastics Hall of Fame. In 1995, New York University with honors.

Hilliard became the first Black woman and the first gymnast to become the President of the Will you highlight your career journey in Women’s Sports Foundation, the leading orga- gymnastics? nization for women’s sports issues. Hilliard’s I grew up in Detroit, where there weren’t own nonpr ofit or ganization, the Wendy opportunities to take gymnastics. After traveling Hilliard Gymnastics Foundation, of which to the suburbs for gymnastics classes, my mom she is the Founder and CEO, has provided free convinced the Detroit Recreation Department gymnastics for 25,000 urban youth in New to hire the Soviet (Ukraine) coaches working York City since 1996, and expanded to her at the Jewish Community Center. Drs. Vladimir hometown of Detroit in 2016. In 2011, Hilliard and Zina Mironov became the head coaches was awarded the Rings of Gold from the U.S. of the new Detroit Recreation Department Olympic Committee for her work helping chil- Gymnastics Program, and Roza Litva and Mike dren develop their Olympic dreams. She was the Freidan later joined them. It was a groundathlete representative for gymnastics to the U.S. breaking achievement – an urban, low-cost Olympic Committee and served on the execu- gymnastics program led by highly trained tive committee of USA Gymnastics for over ten expert coaches. Looking back, I laugh at the years. Hilliard has been a TV commentator for irony that my team in the city was so good many sports and gymnastics events, including that girls from the suburbs started coming to the Olympic Games for NBC Sports. She has Detroit to join our team. performed on numerous television shows and In 1978, with the advocacy of U.S. head tours with the world’s top gymnasts, and also coach Maria Bakos, I became the first black performed on Broadway in Candide. Hilliard athlete to make the U.S. Rhythmic Gymnastics was Director of Sports for NYC2012, New York Senior National Team. I spent nine years on City’s bid for the 2012 Olympic and Paralympic the National Team and competed in three Games. As a member of the NYC2012 Senior World Championships (1979, 1981, and Staff, her responsibilities included overseeing 1983). After competing, I served as chair of all of the sports and athlete matters, including the Athletes’ Council of USA Gymnastics, the over 2,000 Olympians and Paralympians USA Gymnastics Vice President for Rhythmic worldwide that supported the bid. Hilliard Gymnastics, and an athlete representative to was instrumental in bringing several inter- the U.S. Olympic Committee. I also served national events to New York City including as the President of the Women’s Sports the Freestyle Wrestling World Championships Foundation from 1995 to 1996 – the first Black held at Madison Square Garden, the Archery and first gymnast to hold that position – and World Championships, the Fencing World was also an Olympic sportscaster.

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In 1996, I founded the Wendy Hilliard Gymnastics Foundation and started my journey of making gymnastics equitable and accessible for all.

What has made the sport so special for you?

Gymnastics is an incredible sport with lifelong benefits. I was able to travel the world and make international friends. Gymnasts must possess a strong work ethic and self-discipline to succeed. It’s a sport that pushes you to be your best self on and off the mat. In addition, through gymnastics, I could take advantage of numerous performance opportunities with the world’s top gymnasts and perform on Broadway.

You were the first Black rhythmic gymnast to represent the United States globally. Will you discuss this experience?

At the time, I was working hard to make the National Team. Maria Bakos had to push for me because having a Black make the team was groundbreaking. I was unaware of any of this then, and becoming the first

Wendy Hilliard during her days competing as a top USA rhythmic gymnast

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Wendy Hilliard, shares gymnastics knowledge with members of her WHGF program in New York City at the Harlem Armory

Black to represent the sport was the result. I would be challenged before the 1983 World Championships when the coaches did not want me on the team because “I stood out too much.” That was a fight my parents fought with the U.S. Gymnastics Federation.

They, in turn, overruled the coaches’ decision and selected the World Team based on the rankings from the National Championships.

That experience made me an advocate for athletes’ rights, which I continue to this day. Olympic Champions Dominque Dawes, Gabby Douglas, and Simone Biles have inspired countless girls of color to pursue gymnastics. Still, the actual barrier is the cost of the sport and access to gymnastics programs. Through my journey and experiences, I hope to lead and inspire the next generation of gymnasts and leaders and instill the confidence that I had at that age to the youth of my Foundation.

What was your vision for creating the Wendy Hilliard Gymnastics Foundation, and how do you define its mission?

I like to think of the Wendy Hilliard Gymnastics Foundation as the HBCU of gymnastics. When I started the Foundation, I envisioned a program to provide improved VOLUME 47, NUMBER 1

physical and emotional health for low-income children. The reality is that gymnastics is an expensive sport, and gymnasts primarily train in private gymnastics clubs that are maintained by parents paying the cost of the training, facility, travel, uniforms, competition fees, hotel fees (for the coaches and their gymnasts, and families) and the list goes on.

The Foundation’s mission is to break down those barriers to entry and show these young athletes that their futures in gymnastics and beyond are limitless.

Will you provide an overview of the work of the Foundation?

The Wendy Hilliard Gymnastics Foundation offers gymnastics classes for youth from preschool through age 17 at two locations in Harlem, New York, and Detroit, Michigan.

The Community Gymnastics Program introduces gymnastics and a beginner’s class. The intermediate class is an invitation-only steppingstone for our pre-team and team program that adjusts students to a more extended gymnastics practice. The reality of the sport is that it isn’t as diverse as it should be, and it can be expensive and time-consuming.

Offering gymnastics in urban centers like Harlem and Detroit is essential because it’s an

excellent time for these young individuals to be exposed to the sport when they may not be otherwise. Through our programs, we have trained national and international champions, and I look forward to continuing our work for generations to come.

With the many impacts and accomplishments of the Wendy Hilliard Gymnastics Foundation, are you able to take moments to reflect and appreciate what the Foundation has achieved?

Yes. My purpose and life’s mission are to help provide access and opportunities to kids.

Gymnastics is a remarkable sport, but it all goes back to giving our students the access and resources they deserve. I think the Foundation has done a great job providing high-caliber training to students without the constraints of high costs.

What advice do you offer to young girls pursuing their dream of being a professional gymnast?

Push yourself to be the best. It can be difficult, and it’s easy to get discouraged, but keep going, put yourself first, stay determined, and always show up – which can be the hardest part.

Be proud of yourself for your small accomplishments, as those deserve to be celebrated.

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WOMEN LEADERS

Advancing Medicine An Interview with Tiffany Sullivan, Senior Vice President and Chief Operating Officer, NYP Physician Services, NewYork-Presbyterian EDITORS’ NOTE Tiffany Sullivan How do you describe NewYorkis Senior Vice President and Chief Presbyterian’s culture and values?

Operating Officer for NYP Physician At NewYork-Presbyterian (NYP), Services and the NYP Ambulatory we are committed to caring for every Care Network. In this role, Sullivan single patient who walks through our leads the Ambulatory Care Network doors. Serving communities across all and Services. She also oversees the five boroughs of New York City, development and management of Westchester, and Hudson Valley shapes the employed NYP Regional Hospital our culture, values, and moral obligamedical groups and their integration to provide the highest quality of tion thr ough an NYP Regional accessible care to people around the Hospital Network Management region.

Tiffany Sullivan Services Organization (MSO). Her Our purpose is engrained in Ambulatory Care Network and Care nurturing and growing our workforce Coordination leadership r esponsibilities to be the home of world-class medical experts, include determining the strategic direction investing in vital research and cutting-edge clinof Ambulatory Care Services implementa- ical innovation, and prioritizing health justice tion; developing primary and speciality care for all. goals, operating plans, policies, and short- and What have been the keys to NewYorklong-range objectives for Ambulatory Care Presbyterian’s industry leadership?

Services; and establishing a systematic evaluation of We are fortunate to be one of the only the quality and effectiveness of patient care academic medical centers in the nation affiliated services. She also serves as a member of the with two world-class medical schools, Columbia NYP Regional Hospital management team, University Vagelos College of Physicians responsible for development of the Regional Network physician enterprise and its integration within NYP. Sullivan earned a BA degree in biology from Columbia College and a master’s degree in public health at the University of South Carolina, Arnold School of Public Health.

INSTITUTION BRIEF Located in New York City, NewYork-Presbyterian (nyp.org) is affiliated with two of the nation’s leading medical colleges, Weill Cornell Medicine and Columbia University Vagelos College of Physicians and Surgeons. NewYork-Pr esbyterian provides state-of-the-art inpatient, ambulatory, and preventive care in all areas of medicine, and is committed to excellence in patient care, education, research, and community service at ten hospital campuses: NewYork-Presbyterian/Weill Cornell Medical Center, NewYork-Presbyterian/ Columbia University Irving Medical Center, N e w Yo r k - P r e s b y t e r i a n M o r g a n S t a n l e y Children’s Hospital, NewYork-Presbyterian A l l e n H o s p i t a l , N e w Yo r k - P r e s b y t e r i a n We s t c h e s t e r B e h a v i o r a l H e a l t h C e n t e r, NewYork-Pr esbyterian Lower Manhattan Hospital, NewYork-Presbyterian Westchester in Bronxville, NewYork-Presbyterian Brooklyn Methodist Hospital, NewYork-Presbyterian H u d s o n Va l l e y H o s p i t a l , a n d N e w Yo r k Presbyterian Queens.

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and Surgeons and Weill Cornell Medicine.

Collectively, we have cared for those in need for hundreds of years while simultaneously advancing medicine to ensure we continue to help our patients live healthy lives.

Our partnership means that we can offer our patients access to the broadest array of clinical experts, the most advanced, innovative treatments, and latest clinical trials, while also caring for patients with everyday health concerns.

We leverage data and innovative technology to deliver a more modern, seamless, and empathetic patient experience to our patients.

Will you provide an overview of your role and areas of focus?

I joined NewYork-Presbyterian in October 2020 as Senior Vice President and Chief Operating Officer of Physician Services and have a multitude of responsibilities. At a high level, I oversee our system’s Physician Services Organization (PSO) inclusive of the Medical Group practices, ambulatory quality and patient

NewYork-Presbyterian/Columbia University Irving Medical Center

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“Our purpose is engrained in nurturing and growing our workforce to be the home of world-class medical experts, investing in vital research and cutting-edge clinical innovation, and prioritizing health justice for all.”

NewYork-Presbyterian/Weill Cornell Medical Center

safety, physician comp and contracting and ambulatory practice optimization.

As of February 2022, I am also responsible for NYP’s Ambulatory Care Network (ACN), inclusive of the Division of Community and Population Health. Community health population is a passion of mine, so that aspect of the role is a real joy.

Will you provide an overview of NYP Physician Services and the NYP Ambulatory Care Network?

The Medical Group and Ambulatory Care Network are inclusive of more than 190 practices across the boroughs of New York City, as well as the Hudson Valley and Westchester regions. We provide over 1.35 million primary and specialty care visits each year. During my tenure, we have expanded our geographic footprint by opening new practices and expanding existing practices.

Additionally, we increased the number of practices offering weekend and evening appointments to improve access to the communities we serve.

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I’m incredibly proud of what my team and I have accomplished this year, which includes investing in new site openings to expand our footprint, as well as opening a new specialty site in Brooklyn and expanding the Och Spine program into Queens.

How critical is it for NewYorkPresbyterian to build a diverse and inclusive workforce?

While I believe it’s critical for every organization to build a diverse workforce, it’s nonnegotiable for NYP. At NYP, we believe it is imperative to employ and maintain a diverse workforce – one that reflects the communities in which we serve. We serve communities and people of diverse socioeconomic backgrounds, races, ethnicities, cultures, sexual orientations, religions, and genders. Our workforce needs to match that in return.

The benefit of diversity in the workplace leads to improvements in creative thinking, problem-solving and innovation. It makes for a stronger organization.

Do you feel that there are strong opportunities for women in leadership roles in the industry?

Historically, the healthcare industry has been extremely male-dominated, and notably from a leadership perspective. While many things have changed, the system is still challenged in that respect, and we still have a long way to go.

As a Black woman within a leadership position, it’s not lost on me the responsibility I have to ensure that future generations have better opportunities than those that came before them. NYP is a vibrant, gender-diverse community of healthcare professionals that are providing the highest quality and compassionate care to patients, contributing to cutting-edge research, and a crucial part of the education of future healthcare leaders.

What advice do you offer to young people interested in pursuing a career in medicine?

Healthcare contributes to the greater good and health of the population. The ability to have an impact on someone’s life is unlike anything else. Working in healthcar e is extremely rewarding, but it requires commitment and dedication.

I would encourage anyone interested in pursuing a role in healthcare to try and get involved. Check to see if your local hospitals have volunteer or mentorship programs. We have the Lang Youth Medical Program, which has been running for the past 20 years. The program allows our system to offer a six-year science enrichment program to inspire and prepare students in the Washington Heights and Inwood school districts. We help them explore careers in healthcare and become future leaders who give back to their communities. Every year, graduates of the program go off to college, enter the healthcare profession, and many alumni return to take positions at NYP. Healthcare offers a variety of non-clinical roles as well. There are opportunities in business, finance, IT, human resources, engineering, and hospitality. You may not be interested in direct patient care, but you can still make a positive change in the industry in nonclinical roles.

The next generation is the future of medicine. It’s extremely important to me as a leader to ensure that we’re helping to shape and mentor the bright minds of tomorrow.

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Navigating The Unexpected An Interview with Elizabeth (Liz) Brill, Senior Vice President and Chief Actuary, New York Life Insurance Company EDITORS’ NOTE Liz Brill is Senior How do you describe New York Vice President & Chief Actuary at Life’s culture and values?

New York Life, responsible for overAt New York Life, we have a very sight of actuarial functions. Brill strong sense of purpose to be there to joined New York Life in 2010 and provide financial security and peace of has held positions of increasing mind as we help millions of families responsibility, including her prior and businesses reach their financial role as New York Life’s Deputy Chief goals each year. Our purpose-driven Actuary. Prior to joining New York mindset attracts people who want to Life, Brill served as an Associate with grow their careers while also doing the law firm Debevoise & Plimpton good for others – which really differentiLLP. She is active in both the insurates New York Life for our customers, Liz Brill ance industry and the U.S. actuagents, and employees. arial community. She served on the What also sets us apart is our Board of Directors of the American Academy of long-standing commitment to diversity in Actuaries from 2015 to 2018 and is currently a our workforce and field force. The company is member of the Actuarial Standards Board, the known for our collegial, flexible, and family-like standard setting body for actuarial practice in the atmosphere which creates a welcoming place United States, and the Insurance Policy Advisory where everyone can feel valued and supported Committee of the Federal Reserve. Brill received a as well as for its dedication to supporting the bachelor’s degree in economics from Princeton communities where we live and work.

University and a JD from Harvard Law School. She Our mission is to serve. We take pride in is admitted to practice law in New York and is a being there for our customers when they need fellow of the Society of Actuaries and a member of us most. the American Academy of Actuaries.

What have been the keys to New York Life’s industry leadership and how do you COMPANY BRIEF New York Life Insurance define the New York Life difference?

Company (newyorklife.com), a Fortune 100 Robust strength and stability are hallmarks company founded in 1845, is the largest mutual of New York Life. We have been successfully life insurance company in the United States navigating the unexpected for the better part and one of the largest life insurers in the world. of two centuries and we’re well-positioned to Headquartered in New York City, New York Life’s continue to do so. family of companies offers life insurance, retireAs a mutual life insurance company, New ment income, investments, and long-term care York Life does not answer to Wall Street or shareinsurance. New York Life has the highest finan- holders. We operate for the benefit of our current cial strength ratings currently awarded to any and future policy owners. This allows us to mainU.S. life insurer from all four of the major credit tain a long-term view and stay rooted in our core rating agencies. values of financial strength, humanity, and integrity.

Will you provide an overview of your role and areas of focus?

I currently serve as New York Life’s Chief Actuary, responsible for oversight of all actuarial functions. In addition to overseeing product pricing, financial reporting, capital and actuarial modeling, and other actuarial functions for the company, my team also provides actuarial services across the organization. We also lead the analysis supporting New York Life’s annual dividend recommendation, a major benefit to participating New York Life policy owners. In November, we announced a company record $2.2 billion in dividends to be paid to participating policy owners in 2024.

I will soon assume a new role as Chief Financial Officer for the company’s Foundational Business which, broadly, is focused on providing consumers with the guidance to both protect and prosper.

How important is it for New York Life to build a diverse and inclusive workforce?

At New York Life, everyone is encouraged to feel comfortable bringing their full, authentic selves to work every day. We’re dedicated to fostering a diverse and inclusive work environment. Diversity, equity, and inclusion (DE&I) are deeply embedded within our company’s culture, and we continue to examine new ways to emphasize this commitment.

Our inclusive culture is supported by further integrating DE&I into the company’s approach to educating, engaging, and developing employees, especially through our DE&I Center for Awareness and Advocacy, our seven Employee Resource Groups, and our inclusivityfocused programming.

“Our purpose-driven mindset attracts people who want to grow their careers while also doing good for others – which really differentiates New York Life for our customers, agents, and employees.”

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“At New York Life, everyone is encouraged to feel comfortable bringing their full, authentic selves to work every day. We’re dedicated to fostering a diverse and inclusive work environment.”

What do you see as New York Life’s responsibility to be engaged in the communities it serves?

New York Life has focused on serving a wide variety of communities, including underrepresented ones, for decades. Over time, we have expanded the scope of our efforts to address the broader financial gap facing many of these communities.

Expanding access to in-person guidance is key to empowering individuals and families to make more informed decisions to secure their financial futures. At New York Life, we have a field force of 12,000 agents and financial professionals who provide human advice and guidance, empowered by technology, to help people identify long-term priorities and make the decisions required to protect those they care about most.

New York Life’s Cultural Markets group focuses specifically on meeting the financial protection needs of historically underserved markets.

New York Life’s impact investment strategy has committed over $1 billion since 2021 in support of small business, affordable housing, and community development initiatives in underserved and undercapitalized communities with the dual objective of driving positive social impact while producing market returns to support the company’s policy owners.

The New York Life Foundation also works to address societal issues in communities across the country where New York Life policy owners, agents, and employees live and work.

Do you feel that there are strong opportunities for women in leadership roles in the industry?

Absolutely, yes! There are tremendous opportunities for women in leadership roles across the

insurance industry. Insurance is inherently personal, and purchases are often motivated by a desire to protect yourself and your loved ones. Because peoples’ needs vary, diversity is critical. Having a diverse force of agents, advisors, employees, and leaders – including diversity in gender – is a competitive advantage. Like New York Life, the industry as a whole is deeply committed to DE&I. This creates much opportunity.

What do you feel are the keys to effective leadership and how do you describe your management style?

I think the key to effective leadership is trust. To lead effectively, you need the trust and support of your team. You also need to trust your team and give them the space to do their jobs. To build this two-way trust, clear and frequent communication is critical.

I try to be accessible and a good listener.

I make a point of celebrating successes and acknowledging challenges and learning from them. I also focus on helping my team members develop themselves. In the insurance space, our biggest assets are our people. An important part of my role as a senior leader is developing future talent and I take this responsibility seriously.

At a number of points during my career, I have found myself leading teams outside my area of expertise. I joined New York Life from a law firm and soon found myself running a technical actuarial modeling team – even though I knew very little about modeling. It was a humbling experience, but also a valuable one from a leadership perspective. I was not in a position to help my team be better actuarial modelers – their technical expertise far exceeded my own – however, by trusting and relying on their expertise and providing

strategic context, support, and problem-solving, I could render them more effective.

What advice do you offer to young people interested in pursuing a career in insurance?

Give it a try. The industry offers a wide range of potential opportunities. There are different types of insurers, including life insurers, health insurers, and property and casualty insurers. There are also consulting, accounting, legal, and other firms that support the industry as well as a variety of governmental agencies. We hire young people with a wide range of backgrounds and college degrees. Roles range from sales and marketing to finance and actuarial to legal and compliance to technology and data science and many more.

At New York Life, we also offer targeted leadership development programs, including one near and dear to my heart: the actuarial development program. Former members of our actuarial development program have gone on to senior leadership positions throughout the company. In fact, our current Chair, President & CEO, Craig DeSanto, started at New York Life as an actuarial intern and progressed through the actuarial development program.

There is no one path or destination. I started in the industry right out of college as an actuarial assistant, but then left to attend law school. After law school, I joined a law firm and practiced corporate law primarily within the insurance industry. I then joined New York Life, a former client, where I have held a number of actuarial, finance, and legal positions. I love what I do and am grateful every day that I am part of a company and an industry with a clear mission and purpose to provide financial security and peace of mind to our policy owners.

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“New York Life’s impact investment strategy has committed over $1 billion since 2021 in support of small business, affordable housing, and community development initiatives in underserved and undercapitalized communities with the dual objective of driving positive social impact while producing market returns to support the company’s policy owners.”

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The Power Of Theater An Interview with Lauren Reid, President, John Gore Organization EDITORS’ NOTE Lauren Reid, President Will you discuss the history of the of the John Gore Organization (JGO), John Gore Organization (JGO) and is a 27-year entertainment industry how the organization has evolved? veteran who has built her career out Originally known as Key Brand of her lifelong passion for live enterEntertainment, the John Gore tainment. Driven by a commitment Organization (JGO) grew through the to extend the reach of Broadway, following acquisitions: Reid has helped steer JGO, through • In 2008, Key Brand acquired its various subsidiaries, to become Broadway Across America, along with the leading presenter, distributor, its theatrical productions and distribuand marketer of commercial theater. tion network, which included the Reid first joined the JGO family in theatrical entities of Live Nation.

Lauren Reid 1992, beginning a 13-year tenure • In 2010, Key Brand acquired during which she held a range of Theater Direct International from leadership positions. She left the company in Hollywood Media Corp., which owned and 2006 to help launch, and serve as COO of, operated the following content-driven e-commerce BASE Entertainment, where she managed world- websites: Broadway.com, Theater.com, Theatre.com wide operations, produced live music acts and and Theatre.co.uk.

Broadway shows, and oversaw the construction • In 2012, Key Brand acquired Group Sales and operation of multiple venues in Las Vegas, Box Office (GSBO), the largest group sales agency China, and Singapore. In 2010, she returned to on Broadway and BroadwayBox.com, the leading JGO and began her steady assent up the ranks, website for discount theatre tickets in New York. before being named COO in 2017. Reid began her • In 2015, Key Brand acquired The Broadway career as a talent manager and booker in the then- Channel, a media company that produces and still-burgeoning Austin, Texas music scene, before distributes television programming. going on to serve as national publicist for magician • In 2016, Key Brand rebranded itself as David Copperfield. Reid is an active member of The the John Gore Organization.

Broadway League, where she was named Chair, • In 2021, JGO acquired Broadway Brands, and currently serves on its Executive Committee and a media company focused on the latest breaking its Board of Governors. She also serves on the boards news for theater insiders with its portfolio of of trustees for The Entertainment Community Fund publications including Broadway Briefing and and The Hobby Center in Houston. She teaches “The Broadway News.

Business of Entertainment” at her alma mater, The Today, JGO is the leading presenter, University of Texas. She first fell in love with theater distributor, and marketer of Broadway theater at age 10 while attending a touring production of worldwide. Under the leadership of theater Annie in Houston, Texas. producer and owner John Gore, its productions and presentation span Broadway, Off ORGANIZATION BRIEF The John Gor e Organization (johngore.com) is the leading presenter, distributor, and marketer of Broadway theater worldwide. Under the leadership of theater producer and owner John Gore, its family of companies includes Broadway Across America, Br oadway.com, The Br oadway Channel, BroadwayBox.com, and Group Sales Box Office.

Its productions span Broadway, Off Broadway, London’s West End, Japan, and 48 North American markets. It has won Tonys in every producing category as well as numerous other Drama League, Drama Desk and Olivier awards. The John Gore Organization is committed to supporting theater access and education programs that introduce Broadway to the next generation of audiences and theater professionals.

Broadway, London’s West End, Japan, Canada, and 48 markets in North America. JGO has won Tonys in every producing category, as well as numerous other Drama League, Drama Desk, and Olivier awards. Presentations include Disney’s The Lion King, Wicked, The Book of Mormon, and Hadestown. Current productions include & Juliet, Hamilton, Kimberly Akimbo, MJ: The Musical, and Moulin Rouge.

JGO is the leading editorial content creator for Broadway, with the ability to reach approximately 60 million fans annually through Broadway.com, The Broadway Show with Tamsen Fadal, Broadway News, Br oadway Briefing, and The Br oadway Channel. JGO also remains steadfast and committed to supporting theater access and education programs that introduce Broadway to the next generation of audiences and theater professionals.

How do you define JGO’s mission and purpose?

At JGO, we believe that live theater is for everyone. Our purpose is to bring Broadway to fans and fans to Broadway. We want to increase access and participation – both on and off the stage, and behind the curtain.

We also believe that theater has the power to change the world. Stories told live on stage not only entertain, but can inspire, educate, and bring people of all backgrounds and beliefs together for a shared experience unlike any other.

Our goal is to be the most trusted name in delivering first-class Broadway shows around the globe with unparalleled customer experience.

“At JGO, we believe that live theater is for

everyone. Our purpose is to bring Broadway to fans and fans to Broadway. We want to

increase access and participation – both on and off the stage, and behind the curtain.”

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Broadway League Chair Lauren Reid addresses the 2022 Tony nominees at the Rainbow Room

Our family of companies provides fans with a 360-degree view of Broadway to expand the reach and grow the audience for live theater worldwide. The passion we each share for Broadway is reflected in our culture of excellence, connection, and creativity. We are committed to supporting the greater theater community and building long-term relationships with our audience, partners, and team.

What have been the keys to JGO’s strength and leadership in the industry?

We have the privilege of working with the best and brightest talent in the industry – both within our organization and through our external relationships with shows and theaters.

We collaborate with producers and venues to bring the magic of live theater and its significant economic impact to local communities.

We recently announced a new executive team for the theater division, Broadway Across America (BAA). The team represents a combined 150 years of experience, all of whom have been a part of the company for many years. To build and maintain a stellar team for the long term, we must provide growth opportunities at every level. As the members of our team move up and step into larger roles, so too does the next generation of leaders. It is our special blend of deeply experienced leadership and passionate young talent that ensures not just JGO’s success today, but also its enduring position for tomorrow.

Will you highlight JGO’s commitment to philanthropy?

Through our family of companies, JGO is deeply committed to supporting the theater community with a particular focus on education, access and supporting new work and artists.

Some of the ways we are realizing these goals are through the funding of theater education programs, providing access to Broadway for VOLUME 47, NUMBER 1

underserved communities, and investing in new artists and shows. We also believe in community outreach – our local Broadway Series support local food and clothing drives, arts initiatives in schools, social service agencies, our military families and so much more.

Over the years, we’ve remained steadfast partners with the Entertainment Community Fund, Arthur Miller Foundation, Broadway Cares/Equity Fights AIDS, the Theatre Leadership Project, Princess Grace Foundation USA, and many others. Most recently, JGO’s endowment gift to Julliard has made it possible for first year MFA Drama candidates to attend completely tuition free starting in 2024.

On a personal level, I’ve always been an advocate of early career training and mentorship programs and launched the Broadway League’s Rising Stars program, which identifies and mentors current middle-level managers to help create the next generation of industry leaders. We have also forged a partnership between Broadway Across America and Black Theatre Coalition to create the BTC/BAA Fellowship program, which offers paid fellowships at JGO focusing on underrepresented, aspiring professionals.

You worked with JGO before leaving to pursue other opportunities, and then returned to the organization. Will you discuss this journey?

I first joined the JGO family in 1992, beginning a 13-year tenure in a variety of leadership positions. I left the company in 2005 to launch BASE Entertainment, an international entertainment company. As COO of BASE, I managed worldwide operations, produced live music acts and Broadway shows, and oversaw the construction and operation of multiple venues in Las Vegas, China, and Singapore. It was an incredible experience which provided me with

new skills and perspective, and positioned me to return “home” to the company I love.

In 2010, I returned to JGO as COO, Theatre Division, and served in various roles until being named President of the parent company, the John Gore Organization, in 2021.

How do you focus your efforts leading JGO? It all comes back to one core mission: expanding the reach of Broadway so that as many people as possible have the chance to engage with this art form. Anything that doesn’t move us closer to that goal is probably not worth doing. This means fostering a culture of innovation, inclusivity, and excellence.

Innovation is key so that we can stay ahead of industry trends and remain artistically relevant and economically viable in a rapidly evolving world. Only then can we continue to generate new content and reach more people. Inclusivity means making every single person feel like they are welcomed and embraced at every touchpoint. We need to let everyone know that they have a place in the theater, whether that place is in the audience, on the stage, or behind-thescenes. This ethos extends to nurturing talent and investing in the professional development opportunities that keep our pipeline full. And, equally important, we must continuously strive to enhance the theatrical experience for our audiences, ensuring that every performance is a cherished life memory.

What are your priorities for JGO as you look to the future?

My priorities for the future of JGO center around three core areas: support our art form, create more access, and inspire innovation.

First, we seek to support live theatre, our art form. We invest in shows and artists, not only in New York, but also in productions around the country and worldwide. This includes investing in stories that reflect a wide range of experiences and perspectives, sharing them on stages and promoting them across all of our platforms.

Continuing our commitment to promote access, we are focused on extending the reach of Broadway by bringing shows and theater news to as many people as possible. Theater is for everyone; we want to meet people where they are – no matter their geographic location or socioeconomic background. We wish to cultivate new audiences and captivate current fans.

To do this, we must provide entry level and VIP offerings, bring the best shows, and deliver best-in-class service.

And, finally, we need to embrace – rather than fear – technological advancements in our field. Yes, the theater is a decidedly “analogue” artform, but that doesn’t mean there aren’t huge opportunities for us in this increasingly digital world. The questions we must constantly ask ourselves are: How can we stay ahead of the technological curve while also amplifying everything that makes the live, in-person theatrical event so special? What areas of our industry need disruption and which traditions must remain untouched? This can be a tricky balancing act to be sure, but it’s one in which we can find harmony.

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WOMEN LEADERS

The Three Ps An Interview with Beata Kirr, Chief Impact Officer, The Copia Group EDITORS’ NOTE Beata Kirr is a around corners for what was next on member of The Copia Gr oup’s the investment horizon, and how to (TCG) Investment Committee and is bring that evolution to our clients. I primarily responsible for delivering was proud of what I had built and a distinctive impact investing how much I had changed the offering platform and establishing TCG as set. One of the biggest changes was a thought leader in impact private the creation of a suite of impact markets. Kirr joined Ber nstein investing strategies. The movement Private Wealth Management in 2007 to incorporate Environmental, Social as a Senior Investment Strategist, and Governance factors into the became Head of Core Strategies traditional risk-return discussion grew in 2017, Co-Head of Investment exponentially in the last seven years, Beata Kirr Strategies in 2020, and Co-Head and I loved participating in that work. of Investment & Wealth Strategies I also came to realize that investing in 2022, overseeing a $100 billion investment in private markets like private equity, venture platform. Prior to her time at Bernstein, Kirr also capital or private credit often proved to be much held leadership positions at Aurora Investment more rewarding than public market investing, Management and Goldman Sachs. Kirr first for those that qualified for the risks and liquidity came to the United States from the former Soviet trade-offs. And these markets seemed better Union with her family as political refugees primed for true impact investing outcomes. during the Cold War. After graduating from The So, it was in that moment in the spring of Wharton School with a BS degree in economics, 2022, I realized that this combination of impact Kirr went on to receive an MBA in finance and private markets is where I wanted to focus and marketing from Northwestern University’s my efforts in the back half of my career. It was Kellogg School of Management. unfortunately not going to be possible to do that within the comfortable and well-worn seat I was FIRM BRIEF The Copia Group (copiagroupllc. in, so I started exploring options to specialize in com) is a diverse-owned investment advisor that those Three Ps – a scary proposition to leave the provides debt and equity capital solutions to great position at a great firm in order to pursue privately held, lower middle-market companies. my passion.

TCG seeks to turn critical challenges into highWith a 20-year history of friendship with return opportunities that deliver impact and Shundrawn Thomas, I shared my aspirations scale and believes that full inclusion provides with him, and they resonated perfectly with his the greatest long-term value for its clients and own ambitions and values. It was a meeting of communities. the minds at the perfect time in the universe, as a few weeks after our conversation, Shundrawn How did your presence at The Copia Group come to be?

I was sitting at a dear friend’s funeral in the spring of 2022. She was only 47 and her death was too sudden. That, combined with three years of the lived COVID experience and a nasty bout of shingles, made me think long and hard about the choices we make in our lives and, especially, how we spend our time at work. So, after a 16-year run at a private wealth firm, where I was most recently the Co-Chief Investment Officer overseeing $100 billion of private client assets, I started building a clear vision for the next phase of my career, which I labeled the “Three Ps” – a combination of Passion, Purpose, and Private Markets investing.

In my prior role, I always enjoyed the process of building and disrupting – thinking

made a significant decision to depart from his executive leadership role and establish The Copia Group.

Whether we call it fate, or incredibly good timing, our individual career journeys ended in the exact same place at the exact same time, and many months of discussions later, I was thrilled to join Shundrawn as the Chief Impact Officer of The Copia Group.

Will you provide an overview of your role and areas of focus?

I am the Chief Impact Officer. I would start by saying Chief Impact Officer is a title I envisioned, thinking a lot about what it meant and what it conveyed. It is not common in the industry yet, but I believe it soon will be, as companies pivot from viewing ESG as a siloed risk management exercise to understanding that future profit success recognizes stakeholder capitalism, where organizational impacts, both direct and indirect, will inevitably come to the forefront as business-critical imperatives. At the Aspen Institute ESG Conference recently, a prominent industry sustainability leader stated that the Chief Impact Officer will, in fact, become the most important new role of the future. I look forward to that trend.

So, what does a Chief Impact Officer do, exactly? In this role, I am focused on four primary areas of responsibility: 1. Establishing an impact framework and repeatable impact measurement process for our investments.

2. Acting as a voting member of our Investment Committee, assessing our potential investments through an impact lens.

“So, after a 16-year run at a private wealth firm, where I was most recently the Co-Chief Investment Officer overseeing $100 billion of private client assets, I started building a clear vision for the next phase of my career, which I labeled the ‘Three Ps’ – a combination of Passion, Purpose, and Private Markets investing.”

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“We would argue that all businesses have a responsibility to create inclusive environments with psychological safety for their employees, recognizing different starting points and comfort levels integrating into that workplace’s culture.”

3. Thought leadership on the social impact issues of the day that are important to The Copia Group in our mission to narrow the wealth gap for under-represented populations in the U.S. 4. Engagement with community. Community is broadly defined as potential investors who are interested in our approach, but also the broader impact investing community at large and our physical community through our philanthropic engagement efforts over time.

How critical is it for the role of Chief Impact Officer to be engaged in business strategy?

The first thing I’d say here is that all companies have an impact – both negative and positive – on the world around them.

The question is how much they notice and/or incorporate that impact into their daily business or investing assessments. Copia’s strategy is focused on providing capital for inclusiveminded business owners, whether they are diverse or recognize they need to make progress in their employee or customer base on this front. We would argue that all businesses have a responsibility to create inclusive environments with psychological safety for their employees, recognizing different starting points and comfort levels integrating into that workplace’s culture.

We would also argue that businesses recognize that changing demographics mean a changing consumer for their products/services. Both the inside viewpoint on inclusivity and the outside viewpoint on inclusivity are mission-critical to business success, so yes, I would argue that the time has come to no longer have positions that are focused on ESG and/or DEI assessment “off to the side.” The time is now to incorporate those lenses into business risk and opportunity assessments because, without employees and clients, there is not much business strategy to focus on.

How critical is it for leading companies to build diverse and inclusive workforces to bring diverse perspectives and experiences to the table when making business decisions?

It’s extremely critical. At The Copia Group, we believe that full inclusion provides the greatest long-term value for our clients and communities. And it’s not just here that VOLUME 47, NUMBER 1

we believe it. There is plenty of research that has been cited, including seminal surveys

by McKinsey & Company, that highlight the higher profitability that is experienced by companies with diverse leadership teams and diverse workforces. It makes intuitive sense for workforces to represent the increasingly diverse tapestry of our population. Rather than going into our “comfortable” echo chambers, employees and leaders should challenge ourselves to see and hear other’s lived experiences – and learn from them. We do that here at Copia, and we think successful businesses will inherently do the same.

In addition, there is much evidence to show that diverse leadership gives back to their employee base, supply chain, and community through providing important paths to economic mobility and prioritizing access and inclusivity.

Again, here, we see that as table stakes for a business owner to be successful.

Do you feel that there are strong opportunities for women to grow and lead in finance?

It’s not a question of the opportunities presenting themselves. It’s a question of the pipeline being there and staying in the game long enough to realize them. There are huge challenges that stand in women’s way. My daughter was born at the market peak, in September 2007, and the ensuing 18-month period was one of the hardest of my life. Not only was the market decline a terrifying time for private clients to experience, but because of the demands of that unusual time, in particular, I gave up a lot of time with our kids early on due to extensive travel and long evening work commitments. It was simply what was required to deliver the best outcomes possible at that moment.

Those tradeoffs ultimately paid off for me at my prior firm. I felt fortunate to have the opportunity and be able to “lean in,” but that’s not only because of my work efforts, but because I had a village of support surrounding me in my amazing husband, my parents nearby, and trusted caregivers. Not everybody has that support network, and not every couple agrees to the trade-offs required to make it to the top.

There is no question of the tradeoffs. They are

very real – and many women aren’t willing to make them – especially if their spouse is in a demanding career as well.

So, it’s not really a lack of opportunities in the industry that is the problem. For those who choose to lean in, though, it is still hard to make it to the highest levels of investment responsibility. The facts remain overwhelmingly negative. The most recent Knight Foundation study showed that only 1.4 percent of the portfolio managers in America were ethnically or gender diverse – 1.4 percent. That is crazy.

I certainly have worked with many talented women that could fill those roles, but for a variety of reasons, they either drop out or don’t get there.

I have hope that this reality can change as there is more willingness to provide career flexibility, and working remotely provides a much-needed option to be more present for working parents. In addition, there are more “pipeline” programs, attracting girls to STEM and demystifying the acronym-filled world of finance. I see the change afoot and I am optimistic for the future.

What advice do you offer to young people beginning their careers?

I have always had the mindset of a learner, so I don’t necessarily think of myself as somebody who should be doling out advice, but I’m always more than happy to share what I’ve learned with others.

The first thing I’d say is to be a constant learner. It’s critical to be good at your job, and be known for being good at your job, but I’ve found that “staying in my lane” hasn’t benefited me. I have never hesitated to ask tough questions and question the status quo. Ask why things are done the way they are if you don’t think that’s the best way of doing them. If you have a solution, propose it. Leaders love employees that come with solutions to the problems they’re identifying, so be that person that identifies both the challenge – and the solution. No matter your title or your age, your ideas matter and speaking up for them is a critical skill for longterm success.

Also, a mentor and manager of mine reminded me often that careers are a marathon, not a sprint. I was often impatient about the “next thing,” and sometimes, just doing a great job at your job, building your brand and reputation, takes time and lots of repetition.

Patience is a virtue that can be well-rewarded over time.

Last, I would say that, reflecting upon my current change – which is the biggest risk and biggest change I’ve ever taken in my career – to launch a firm from the ground up – don’t be afraid of change. It’s scary to do something different and leave your comfort zone, but if we’re not doing something that makes us want to throw up, usually we’re not growing and learning. Just like working out requires pain to make progress, so does growing up professionally. Being uncomfortable is really uncomfortable, but learning to embrace that is a skill that we should all welcome to further our professional development.

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LEADERS IN SPORTS & ENTERTAINMENT

Creating Memories A Conversation with the Leadership Team at BSE Global, Parent Company of Barclays Center ARENA BRIEF In the heart of Brooklyn, Barclays Center (barclayscenter.com) offers 17,732 seats for basketball, up to 19,000 seats for concerts, and has 101 luxury suites, plus an array of bars, lounges and clubs including Crown Club, 40/40 CLUB, and Qatar Airways Club.

Will you provide an overview of Barclays Center?

Barclays Center opened on September 28, 2012, and is a leading sports and entertainment venue located in the heart of Brooklyn, New York at the crossroads of Atlantic and Flatbush Avenues. Designed by the award-winning architectural firms AECOM and SHoP Architects, Barclays Center is the state-of-the-art home of the NBA’s Brooklyn Nets and the WNBA’s New York Liberty, and hosts a diverse portfolio of events spanning professional and college sports, family entertainment, and concerts highlighting global superstars and emerging artists. Our venue has one of the most intimate seating configurations ever designed into a modern multi-purpose arena, with unparalleled sight lines and first-class amenities.

Barclays Center opened to extensive critical acclaim and was recognized with several major awards, including the 2012 Pollstar Award Best New Major Concert Venue, 2013 Sports Business Awards Facility of the Year, Architizer A+ Building of the Year Award, and the Brooklyn Chamber of Commerce Brooklyn Building Award for Economic Development. Since opening with eight consecutive sold-out shows by JAY Z, we’ve continued to host the world’s most renowned performers, including Barbra Streisand, The Rolling Stones, Paul McCartney, Elton John, Beyonce, Rihanna, Madonna, and Bruce Springsteen. The success of these events has made Barclays Center one of the most popular arenas in the world, ranked as a top venue of the 2010s decade by Billboard and Venues Now. Will you highlight Barclays Center’s strength in offering leading sports events, concerts, and shows?

With a population of more than 2.6 million people, Brooklyn would be the fourth largest city in the United States, and Barclays Center is located atop one of the largest transportation hubs in New York City. The arena is accessible by 11 subway lines, the Long Island Railroad, and 11 bus lines, and the ease of access helps draw fans throughout the tri-state area and internationally for our major events.

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As Brooklyn’s only large-scale entertainment arena, Barclays Center has established itself as an industry leader in sports and entertainment.

We’ve welcomed nearly 17 million guests, bringing more than 500 of the world’s greatest international and national performers to the borough, and hosting more than 2,000 major events such as two MTV Video Music Awards, five Rock and Roll Hall of Fame Induction Ceremonies, 2015 NBA All-Star weekend, ten NBA Drafts, and special New Year’s Eve shows.

After only seven years of operation, Barclays Center was named a top five venue of the decade by Billboard Magazine, and we are just getting started.

Barclays Center is committed to creating special memories for our guests and for our artists.

We take pride in our efforts to make the arena feel warm and welcoming for our performers and their teams. We differentiate ourselves from other venues by presenting each performer with a personalized gift that is uniquely meaningful to them. For example, a crystal basketball created

by Victor Solomon for Drake that featured his OVO logo, a one-of-a-kind necklace for Doja

Cat from one of her favorite jewelry designers, a hand-embroidered jacket for members of Blink182 who then wore it on stage, and more. We want our artists to feel equally excited about the Barclays Center experience as do our fans and our staff.

How has Barclays Center approached its food and beverage offerings?

Since Barclays Center opened its doors, it has become one of the world’s busiest sports and entertainment venues. Aside from providing world-class entertainment to our millions of fans and visitors, we have also become a premier food and beverage destination. Brooklyn is a true melting pot, with more than 150 nationalities represented across the borough, and Barclays Center seeks to reflect that diversity and bring authentic neighborhood staples into the arena through our Brooklyn Taste program.

We showcase everything from traditional Brooklyn favorites like Nathan’s hot dogs and Junior’s Cheesecakes, to multicultural flavors including birria tacos, handmade dumplings, and a white cheddar brat. We provide restaurants with an opportunity to share their specialties

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with guests at Barclays Center, but more importantly, we are committed to working with local businesses and suppliers, and to recruiting, training, and integrating communitybased operators and suppliers into the venue’s concessions offerings. Our Brooklyn Market features vibrant and culturally relevant cuisine from a rotating group of local and minorityowned restaurants. Brooklyn Market is part of our commitment to support local businesses and provide opportunities within the BIPOC hospitality community to showcase and celebrate the diversity of Brooklyn’s culinary options.

In 2021, we opened our most exclusive club and premier dining experience in the arena, Crown Club. This premium courtside lounge was designed in partnership with Major Food Group and interior designer Ken Fulk and is located just steps from the basketball court and easily accessible from the best seats in the house. We believe Crown Club is redefining how the sports and entertainment industry approaches courtside clubs as a whole.

Will you discuss Barclays Center’s focus on technology and how this has enhanced the guest experience?

Fans expect a tech-enabled experience when they come to Barclays Center and staying ahead of tech trends is what helps differentiate events at our arena. We are consistently looking for ways to leverage technology to not only enhance the overall guest experience, but to also foster lasting moments that may be shared across social media and other digital channels.

Barclays Center features more than 8,000 square feet of LED signage, including a threestory tall, 70,000-pound 1080p center-hung scoreboard that features four high-definition VOLUME 47, NUMBER 1

LED displays. Additionally, hanging above the main entrance to Barclays Center is the Oculus, a 117-by-56-foot 360-degree LED marquee that extends over a 5,660-square-foot section of the arena’s main plaza. We’ve also implemented a digital video and content distribution platform that centrally controls and delivers targeted highdefinition video and relevant digital content to

“We are consistently looking for ways to leverage technology to not only enhance the overall guest experience, but to also foster lasting moments that may be shared across social media and other digital channels.”

guests. This platform powers 700 HDTV’s and approximately 100 concession menu boards throughout our arena, providing fans with an all-encompassing multimedia experience ranging from action on the court, to concession specials (all boards update simultaneously and are integrated with point of sale), to out-of-town games and scores, and even traffic updates.

We’ve also utilized tech enhancements to increase fan engagement during Nets and Liberty home games at Barclays Center, including integrating Snapchat AR and livestream tech into our video board, incorporating concert-level lighting through key moments during games, syncing opening videos with flashes and strobe lights in the crowd to create an immersive in-arena experience, and more.

We consistently update our technical infrastructure throughout the arena, recently upgrading to Wi-Fi 6 for a more seamless experience for our fans and customers, and we’ve installed displays with estimated entry wait times on screens at our arena’s entrances ensuring our guests know what to expect when they arrive at an event. We also offer in-seat ordering in various seat locations, providing fans with the ability to order concessions directly from their smartphones.

How is Barclays Center leading in sustainability, and will you highlight its sustainability initiatives?

Barclays Center is committed to reducing our environmental impact and we do so by instituting forward-thinking sustainability policies and continuing our ongoing efforts to save energy and water, recycle, purchase environmentally preferable products, and help raise awareness of environmental issues.

A model for sustainable design and construction, Barclays Center earned LEED© Silver Certification for New Construction from the U.S. Green Building Congress, becoming the first professional sports and entertainment venue in the New York metro area to achieve this status. Since receiving Silver LEED, we have continued to expand our sustainability efforts and in 2016, completed the installation of the 135,000-square-foot green roof – the largestever green roof to cover a sporting venue. The green roof reduces the amount of storm water runoff from the building by around two million gallons annually and minimizes the roof’s reflected heat.

We’ve also teamed up with Recycle Track Systems (RTS) and use composting and singlestream recycling solutions throughout the arena, diverting more than 1,000 tons of waste from landfills annually. Additionally, in 2018 we eliminated single-use plastic straws at all events, becoming the first sports and entertainment venue in the New York area to make such a commitment, and our current culinary paper products are all compostable. We’ve reduced electricity usage by installing thousands of LED lights throughout our concourse areas and use a “demand response program” to lower various lighting and cooling systems when the building isn’t being used to balance out the higher usage on others.

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Will you discuss Barclays Center’s investment in training its workforce?

Arena customer service is a signature component of Barclays Center, and we want to ensure all guests coming through our doors are treated with the utmost respect and have their personal needs met. To achieve that goal, our arena’s more than 2,000 employees are trained on such topics as emergency preparedness, culture and value alignment, MOAB Training (Managing Violent and Aggressive Behavior) and general building awareness. In addition, we have worked with the Disney Institute, the business advisory arm of The Walt Disney Company, to support our core guest experience practices. This comprehensive approach ensures we consistently deliver on our promise to create amazing experiences where culture, community and entertainment intersect in a memorable way.

Additionally, as a sensory-certified arena, we are committed to providing an accessible experience for all our guests. Through our partnership with KultureCity, we have hosted integrated special trainings for our arena team members which included instruction on how to recognize sensory needs and ways to best communicate with guests who have those needs.

Barclays Center also provides wheelchair and companion seating with appropriate sight lines on all levels and our team members are properly trained to guide guests with mobility challenges to their seating location and to other amenities.

The customer experiences truly differentiate us in the marketplace and give people a reason to keep coming back to Barclays Center. We are constantly looking to enhance our customer service with updated employee trainings and new ways to better engage our customers.

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How important is it for Barclays Center to build a diverse and inclusive workforce?

Barclays Center employs about 2,000 staff members from the surrounding community who serve in a variety of functions across the venue, and it’s extremely important we maintain a diverse workforce – that means all races, religions, sexual orientations, disabilities, and ethnicities – in all roles across the organization.

Brooklyn is a true melting pot and ensuring our workforce reflects the same diversity found in the borough helps us better understand and

cater to all guests that enter our arena. Not only do we ensure our workforce is diverse, but as part of our company’s broader business diversity efforts, we created a Supplier Diversity Program that provides minority-owned, womanowned and other diverse business enterprises (M/WBEs) with the opportunity to become suppliers of goods and services for Barclays Center, as well as the teams that play here.

What do you see as Barclays Center’s responsibility to be engaged in the Brooklyn community?

Barclays Center takes seriously our commitment to giving back to our community and we strive to positively impact the Brooklyn population through various initiatives and programs focusing on Education, Basketball and Community Investment. Working closely with our parent company BSE Global, the Brooklyn Nets and the New York Liberty, we partner with dozens of community groups each year to host education events, youth basketball clinics, Season of Giving activations, local art installations and more. We also donate thousands of tickets to community groups each year, giving those in underserved communities the opportunity to enjoy arena events that they may otherwise not be able to attend.

Additionally, each year our office closes for a day and our more than 2,000 employees spend that time volunteering with different community organizations throughout the borough.

What are your priorities for Barclays Center as you look to the future?

Barclays Center strives each day to innovate our offerings and create meaningful and long-lasting memories for our fans, customers, performers, vendors, and staff. As the borough of Brooklyn continues to evolve, so do we – ensuring that we continue to serve as the premier destination and cultural touchpoint for Brooklyn and beyond. We are truly excited for the next decade and can’t wait to share our exciting experiences with the world.

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ROMANIA

Sustainable Development And Economic Growth An Interview with His Excellency Nicolae Ciucă, President of the Senate, Romania EDITORS’ NOTE Nicolae Ciucă Will you provide an overview of graduated from Tudor Vladimirescu the current legislative priorities and Military High School and later from initiatives in the Romanian Senate Nicolae Balcescu Land For ces and how they impact Romania’s Academy. His schooling and international and regional role? training were directly related to his 2024 is an electoral year where assignments, as he progressed from the main concerns are linked to the platoon leader to battalion and execution in due time of the PNRR brigade commander. During this time, with the EU, meaning the reforms he took part in a variety of national committed in this National Plan, as and international operations and well as reforms needed for exiting the missions, including UNAVEM III excessive deficit procedure of the EU H.E. Nicolae Ciucă Angola in 1996 as a staff officer, (entering below the threshold of 3 ENDURING FREEDOM Afghanistan percent of the GDP deficit) as well as (2002-2003), and ANTICA BABILONIA Iraq reforms needed for joining OECD. (2004) as Battalion Commander. He gradWhat perspectives does the Black Sea uated from the National Defense University region bring to NATO and strategic allies of in Buchar est and ear ned a PhD in mili- Romania? tary science. In 2011, he was appointed As it was established already in Madrid, in Commander of the 2nd Infantry Division, NATO’s Strategic Concept, it has been recoga n d t h r e e y e a r s l a t e r, h e t o o k o v e r t h e nized that the Black Sea become a region command of the Romanian Land For ces of strategic importance for the Alliance – and Staff. In October 2014, he was appointed rightfully so. We’ve seen Russia’s war of aggresDeputy Chief of Defense Staff. From January sion in Ukraine developing in the wider Black 2 0 1 5 u n t i l O c t o b e r 2 0 1 9 , h e s u c c e s s - Sea Region; blockages in the exports of grains fully held the most demanding position showed us how easy it is for Russia to disturb within the Romanian Armed Forces, Chief the world’s food security; freedom of naviof Defense Staff, and in November 2019, gation is at stake when it is up to attacks and he assumed the leadership as Minister of Russia storming civilian ships navigating in the N a t i o n a l D e f e n s e . Ciucă h a s a t t e n d e d Black Sea; and freedom of overflight as well as numerous courses throughout his car eer, security of the transports are related to this war. the most important of which are: Instructor In those conditions, NATO should accept new f o r P e a c e k e e p i n g O p e r a t i o n s C o u r s e i n responsibilities in the area that should match the T urkey, Joint and Multinational Opera- level of respect for international rules in all the tions Course, Civil-Military Cooperation in seas where we have littoral allied states. This Easter n Europe and Central Asia Course, is a real challenge that has to be assumed and Florida/U.S., U.S. War College. In addi- settled. tion to his studies and training, he particHow do you see the conflict in Ukraine ipated in several national and international evolving and how critical is it for the U.S. exer cises, including Blue Danube 2000, and European partners to continue to D y n a m i c R e s p o n s e K o s o v o , I S A F 2 0 0 3 , support Ukraine? and Eurasian Star 2010 in Turkey. Ciucă The conflict in Ukraine is a turning point became Prime Minister in December 2021 for the whole region, both from a security and and led the cabinet until June 2023, when also from an economic perspective. The U.S. he was elected President of the Romanian and the EU must continue to support Ukraine Senate. He is the Romanian National Liberal in their war effort but also give them a posiParty’s leader. Ciucă has been awarded The tive perspective for the post-war reconstrucNational Order for Merit in the rank of Officer, tion of their country. Romania will continue The National Order for Merit in the rank of to support Ukraine and we expect the same Knight, UN Medal for participating in UNAVEM from all our partners. The conflict in Ukraine III Mission, The National Order for Merit of the has changed the priorities for our strategic French Republic in the rank of Commander, projects and now the development of our The U.S. Medal of Merit, and The Medal of Honor highway infrastructure, the upgrade of the of the Special Operation Forces of the U.S. Constanta Port, the upgrade of our energy 156 LEADERS

system, the upgrade of our defense industry, and the interconnectivity from all perspectives with the Republic of Moldova have become top priorities. The logistical challenges we see generated by the war in Ukraine must be tackled urgently so that our country can become more resilient and be able to respond faster to this type of conflict.

What are the major challenges and opportunities facing Romania in terms of strengthening democracy and the rule of law?

Romania has recently fulfilled its tasks and this autumn the CVM of the EU has been lifted, consecrating the achievement of a level of rule of law that allows Romania to be a proud member of the EU with full responsibilities. For sure, we are not going to stop here. It is an ongoing process, and all observations made in our country report on the matter are going to be analyzed and enforced.

What are your thoughts on strengthening citizen engagement and participation in the political process of the relationship between the Senate/Parliament and the citizens of Romania, and combating populism, disinformation and election interfering?

We have a tremendous activity of the civil society and media and think tank groups on this matter. Our citizens are aware of the existence and means of informational warfare. At the governmental level we are moving to long-term instruments in the field, putting education in the forefront, when the Stop Fake type of projects are widely developed. For sure, we are expecting to see other means, taking the experiences from our partners in the EU and our allies in NATO, to improve this resilience at the level of more and more citizens.

What are the key policy priorities and goals that the Romanian Liberal Party is currently focusing on for the betterment of the country ahead of next year’s elections?

We are committed to keep the flat tax for both companies and persons – it is the core element of our economic policy. The low taxation of capital has been the main incentive for the fast development of our country in the last decade and for the huge productivity gains. The protection and the growth of the Romanian capital together with the defense of the actual fiscal system are our main priorities.

Furthermore, we support the development

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“The low taxation of capital has been the main incentive for the fast development of our country in the last decade and for the huge productivity gains. The protection and the growth of the Romanian capital together with the defense of the actual fiscal system are our main priorities.” of critical infrastructure, while also balancing the economic growth among the regions of our country. Considering the start of the Black Sea gas reserves exploitation in 2027, we will focus on attracting investors from the petrochemical and energy sector who will move their production in Romania.

How does the governing coalition plan address economic challenges and promote sustainable growth and job creation in Romania?

We see several pillars as solutions for the economic challenges that Romania will face in the next decade: • Adopting and improving the mechanisms for attracting the EU funds that our country receives in the next ten years that will significantly upgrade all our economy • Continuous support for attracting investors by keeping the low taxation incentive and by making all interaction with the state more agile • Reducing the budgetary deficit and strengthening the fiscal discipline in order to use most efficiently the resources that we have • The modernization and diversification of our energy system in order to make it more resilient and competitive in the European market • Develop infrastructure and programs in the poorer regions of our country in order to offer them growth opportunities and a perspective for sustainable development What are the coalition’s strategies for fostering innovation, entrepreneurship, and small business development in Romania?

Romania has strongly supported the SME’s sector in the last decade, mainly with a very attractive taxation rate. With a 3 percent turnover tax and a dividend tax of 8 percent, our country has one of the lowest fiscal rates in the region. Furthermore, we are developing multiple programs to support entrepreneurship and innovation through the financing of applied research at the university level and through programs dedicated to specific categories of entrepreneurs.

What is Romania’s role in addressing environmental and sustainability issues, and what specific policies are being pursued in this area?

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energy, Romania has one of the most sustainable and green ecosystems in the European Union. We are supporting the transition of our country in the direction of the circular economy and that is why we are promoting strong initiatives and projects that will accelerate the recycling processes and also build sustainable business ecosystems. We are just now implementing a unique system at the European level for returning plastic and glass bottles that will help us recycle and reuse more than 90 percent of the bottles. Similar systems are being implemented for paper products and electronic goods.

In my opinion, a balanced energy ecosystem and a strong circular economy are two critical elements for the sustainable development of our country.

NATO and EU countries are rethinking and prioritizing investments in the defense and security industries. What are Romania’s major investments and plans for relaunching the defense and national security sector?

We are both a part of the EU and NATO. The debates about our defense industry are there and we are looking forward to more sustainable chains of supplies for the basic production of military capabilities and ammunition. We are continuing a 10-year plan of acquisitions and production via an off-set law in the field. We are also looking at the lessons learned from Ukraine, from Russia’s war of aggression.

A part of those lessons are already there, and another part is going to be revealed to us during this war. We will adapt to that reality, including by an adapted perspective in the security and defense fields.

Will you share insights into Romania’s position on immigration, national security, and border control as it relates to Romania’s efforts to join the Schengen area?

In that area, we are doing everything possible to move ahead, not only did we fulfill the conditions for joining Schengen some 10 years ago, but we also succeeded in improving our figures related to immigration in the last 9 months – a reduction with 40 percent of the number of people arriving in the EU with their first entrance place in Romania. We are also developing – as is Bulgaria – with the EU a pilot project to improve the border control that could be replicated afterwards at the whole EU level for countries with an external border.

What role does Romania prioritize in regional and international cooperation, and what are foreign policy priorities, especially at the level of the European Union, NATO and the UN? As you all know, through our transparent National Security Strategy, we have three important pillars in our security realm: the Strategic Partnership with the U.S., a visible and active role in NATO, and raising our strategic weight and influence inside the EU, by entering in the core of the Schengen and Euro areas. As for areas of interest, the wider Black Sea area, Western Balkans, and the Middle East Northern Africa areas are in the forefront. But lately, we became very much interested in seeing the evolutions in the Indo-Pacific Region, Africa and Latin America trying to come with our added value to the efforts of our allies and partners to off-set the international presence here, on our territory, of our strategic partner, the U.S., and our allies in NATO. We are also looking forward to developing niche capacities in technology in areas where we have an upper hand and skilled workers, specialized training and higher education – nuclear, lasers, IT, cyber, and AI. You are a military officer by career serving as a civilian elected official. What are the main elements from your previous career that are relevant to being a politician today?

First is order and resolution. Second is hard work and capacity of effort. Third is planning and strategic understanding of roles and approaches. Working with people from different social milieus and conditions is also an added value. Individual discipline as well as personal inclination for lecture, discovering, understanding the issues as well as a capable mind for hard decision-making is also helping in those periods where I was confronted, like the whole world, with multiple crises. But above all, I propose a very fair, correct, and straight approach to the issues and politics, with due solutions that would fit the problems and the feasibility in a very concrete world populated with people that need to both understand and support any solutions that are proposed to them. Because today, in these times, we cannot succeed only with the state and institutions – we need to have always on board, for each endeavor, the society, the private companies, and each of the citizens if we are going to succeed.

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ROMANIA

Energy Security An Interview with His Excellency Sebastian-Ioan Burduja, PhD, Minister of Energy, Romania EDITORS’ NOTE Dr. Sebastian-Ioan improving energy efficiency, and develBurduja is the Romanian Minister oping a smart energy grid. Romania of Energy, appointed in June 2023. has significant potential for renewable He has previously served as the energy development, including solar, Minister of Research, Innovation and wind, hydroelectric, and biomass energy, Digitalization between May 2022 and as we already are a leader in hydro and June 2023. Since December 2020, solar energy development in the region. he has been elected to the Romanian The government is supporting the develParliament and is also the President opment of renewable energy projects of the Sector 1 branch of the National through a variety of incentives, while at Liberal Party and was elected the same time we are investing in the President of the Bucharest branch of development of transmission and distrithe National Liberal Party. Before H.E. Sebastian-Ioan Burduja bution infrastructure to support the intestarting his political career, Burduja gration of more renewable energy acted as the Founding President of the League of into the grid. Legislation for offshore wind will be Romanian Students Abroad (LSRS), now the largest finalized within the next months, which will signifiRomanian nonprofit network in the world, and cantly boost wind electricity production. the co-founder of the CAESAR Foundation, a think At the same time, we are also working to tank connecting 500 top Romanian and inter- expand natural gas production and nuclear energy national policy experts. Previously, he served as a capacity, two sources of energy that play a crucial Regional Development Specialist for the World role in our future energy mix. The Neptun Deep Bank in Washington, DC, focusing on Europe and offshore gas production project will practically Central Asia. Burduja has also worked for Dalberg double our production as of 2027, while the new Global Development Advisors, the United Nations nuclear reactor units at Cernavod� and the enviEconomic Commission for Europe, McKinsey & Co., sioned SMR will also significantly raise our nuclear and the National Endowment for Democracy. He energy production. graduated from Stanford University as a member of Romania’s strategy for achieving energy secuthe Phi Beta Kappa Society with a major in Politics rity and reducing dependence on fossil fuels is and sub-specializations in Economy and Sociology. ambitious, but achievable. And that will not be only From 2008 to 2011, he continued his studies at in the benefit of Romania, but of the whole region.

Harvard University, being a David Rubenstein How is Romania planning to transition fellow and graduating with an MBA from Harvard to a more sustainable and environmentally Business School and an MPP from Harvard friendly energy mix, such as increasing the Kennedy School of Government. He was honored share of renewable energy sources? in 2009 and 2010 with outstanding academic Currently, Romania is among the top EU achievement, including the “First Year Honors” countries by the share of energy from renewable and “Second Year Honors” awards given to the best sources. We set a target of increasing the share students at Harvard Business School. Burduja grad- of renewable energy to 30.7 percent by 2030, by uated summa cum laude with a PhD in economics adding 10 GW of capacity to the grid and we are and international affairs from the Romanian currently evaluating raising this ambition.

Academy of Economic Studies.

The country has significant potential in solar (with over 210 sunny days per year), wind What is the Romanian government’s strategy (particularly in the Dobrogea region), hydro (benefor achieving energy security and reducing fiting from its mountainous terrain), and biomass. dependence on fossil fuels in the coming Government support schemes, like Contract-foryears?

Difference (CfD) and feed-in tariffs, aim to bolster First of all, I would like to point out that investment in renewables. Additionally, Romania Romania is one of the most energy-independent is updating legislation to streamline the permitcountries in the EU. We are a net exporter of elec- ting process for renewable installations, reducing tricity and cover most of our gas consumption from bureaucratic hurdles that previously hampered the internal production. development of new projects.

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renewable energy generation capacities. This is a historic chance that will transform our energy system deeply.

What measures are being taken to improve energy efficiency in Romania, both in the residential and industrial sectors?

In the residential sector, the government is implementing building codes that require new buildings to be energy efficient. These include requirements for insulation, windows, and heating and cooling systems. The government is also providing financial incentives to homeowners to invest in energy efficiency upgrades. In addition, we are carrying public awareness campaigns to educate consumers about the benefits of energy efficiency and how to reduce their energy consumption.

As far as the industrial sector is concerned, the government is requiring large industrial companies to conduct energy audits on a regular basis. Energy audits identify areas where companies can improve their energy efficiency. We are also developing energy efficiency standards for industrial products and processes, ensuring that new industrial products and processes are more energy efficient. Additionally, we are providing financial incentives to businesses in order to invest in energy efficiency upgrades.

Will you provide insights into Romania’s plans for nuclear energy development and the expansion or modernization of existing nuclear power plants?

Nuclear energy already plays a significant role in meeting climate goals and must play an even larger role to accelerate the achievement of net zero emissions by 2050, consistent with a 1.5°C scenario and with the Paris Agreement.

In Romania, we already have a strong industrial basis as one of the privileged countries with a fully-integrated nuclear cycle. Nuclear power currently represents 18 percent of Romania’s energy mix with two units in operation, it creates more than 12,600 jobs in the economy and is a factor of stability for our energy grid.

Romania plans to expand its nuclear sector by completing Units 3 and 4 of the Cernavoda plant, potentially doubling its nuclear capacity in the following decade. We are also currently in advanced stages of exploring the deployment of small modular reactors (SMRs), with initial works having already begun.

Romania is part of the European Union, which has set ambitious targets for reducing greenhouse gas emissions. What is the country’s plan to contribute to these targets and address climate change?

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Through its Integrated National Energy and Climate Plan (PNIESC), Romania has set an ambitious goal for renewables to make up 30.7 percent of its total energy consumption by 2030. However, Romania is revising its PNIESC to set a higher target for renewable energy. An initial step in this direction, as outlined in the National Recovery and Resilience Plan (NRRP), is to exceed the PNIESC’s target, aiming for renewables to constitute 34 percent of the energy mix.

The country’s strategy includes a mix of policies, such as promoting renewable energy adoption, improving energy efficiency across sectors, and transitioning to cleaner transportation. Romania plans to phase out coal-fired power plants and replace them with low-carbon sources over the next years, thus significantly contributing to emission reductions. On the electrifying transportation front, in order to reduce greenhouse gas emissions from the transportation sector, we are providing financial incentives for the purchase of electric vehicles and are investing in the development of charging infrastructure.

Additionally, the production and utilization of hydrogen play a critical role in reinforcing energy security and advancing the decarbonization of sectors with significant greenhouse gas emissions, like transportation and industry.

Will you discuss the current state and future of Romania’s energy infrastructure, including transmission and distribution networks, and any plans for grid modernization and expansion?

Grid modernization and upgrade is crucial to accommodate new energy generation capacities, optimize energy flows and enhance system reliability. Works to upgrade transmission and distribution lines, build new substations, integrate renewable energy into the grid, and develop a smart grid management system are carried across the country.

A significant milestone was reached in October 2022 with the signing of the first nine financing contracts from the Modernization Fund. These contracts, inked between the Ministry of Energy and Transelectrica, are for the construction of new overhead power lines and their integration into the National Energy System, establishing or refurbishing power stations, optimizing existing overhead power lines with online monitoring systems (Smart Grid), and digitizing the electricity transmission grid.

These projects, supported by the Modernization Fund, are set to bolster interconnectivity with the European energy system and advance the development of Romania’s electricity transmission grid, thereby enhancing the national energy system’s security, flexibility, and adequacy. This will pave the way for new renewable energy generation capacities.

The anticipated benefits of these investments are substantial. They include an increase in the RET transmission capacity by approximately 1,700 MW, the construction of nearly 480 kilometers of new overhead power lines, the expansion of five 400 kV stations, a pioneering digital transformation of the Alba Iulia station, an enhancement of interconnection capacity by 600 MW (combined at the borders with Serbia and Hungary), the implementation of electricity quality monitoring systems in 15 stations, and the optimization and digital monitoring of overhead power lines.

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I would also like to point out that we are preparing the beginning of works for a highvoltage direct current infrastructure that will connect the energy-rich southeast of the country to the energy-intensive northwest. At the same time, we are quickly enhancing our interconnectivity and interoperability of our network to neighboring countries, improving the reliability of our energy flows and perfecting the transport of energy across the region.

How does Romania intend to attract investment in the energy sector, particularly in renewable energy projects, and what incentives and policies are in place to encourage private investment?

The national energy strategy is geared towards substantial new investments to boost the proportion of renewable energy within the energy mix. This includes tapping into offshore renewable energy prospects in the Black Sea, investing in large-scale electricity storage, and employing hydrogen to decarbonize sectors that are challenging to electrify.

Romania provides various incentives for investment in the renewable energy sector, such as state aid schemes, green certificates, and tax exemptions.

Former Secretary of State Sen. John Kerry, U.S. Special Presidential Envoy for Climate, meets Minister Sebastian Burduja at the Three Seas Initiative Summit (3SI) and Business Forum in Bucharest, Romania in September 2023

As mentioned, through the NRRP and the Modernization Fund, there is an unprecedented level of funding available for new generation facilities and necessary infrastructure of up to €18 billion.

We have also introduced “Contracts for Difference” (CfD) as a primary incentive for investment in new, clean technology-based energy capacities. This mechanism is designed to provide revenue predictability for investors in low-emission technologies by guaranteeing a certain level of income, thus ensuring a return on their initial investment. CfDs aim to support the establishment of 10 GW of renewable electricity from onshore wind and photovoltaic sources, funded through the Modernization Fund.

The government is also building a more favorable legislative framework to attract both domestic and foreign investment. For instance, the Offshore Law, which governs the exploitation of offshore oil and gas resources, has been amended to encourage investment in the Black Sea gas projects. By the end of the year, we will have finished the Offshore Wind legislation, thus allowing significant investments in the Black Sea Region.

What role do you see for innovation and emerging technologies such as energy storage in Romania’s energy sector?

Emerging technologies like energy storage, smart grids, and digitalization are crucial in

transforming the energy sector. The country’s strategy involves integrating these technologies to enhance the stability and efficiency of the energy system. For example, Romania is exploring battery storage solutions to manage the intermittent nature of renewable energy sources and we have a target of developing 1 GW of energy storage capacity by 2030. As mentioned, we are also investing in smart grid technologies to improve demand response and reduce energy wastage. Not the least, the government encourages research and development (R&D) in these areas through funding and partnerships with academic institutions and the private sector.

Will you elaborate on the challenges and opportunities related to interconnections with neighboring countries in terms of energy trading and security, and what initiatives are in place to enhance these connections?

Interconnectivity with neighboring countries is crucial for Romania’s energy security and market integration. We are investing in enhancing our connections with Moldova, Hungary, Bulgaria, Ukraine, and Serbia, facilitating energy trading and security. These projects not only contribute to energy security, but also allow Romania to engage more actively in the regional energy market, providing opportunities for both importing when necessary and exporting surplus energy.

A recent project that is highly important for us is the Green Corridor between the Republic of Azerbaijan, Georgia, Hungary, and Romania, which marks a pivotal advancement for the energy security of both Romania and Europe. The project aims to facilitate the transmission of renewable energysourced electricity from Romania to Azerbaijan, traversing Georgia and the Black Sea. It further aims to enable the subsequent distribution of this energy to Hungary and the wider European region via the European transmission network.

What is the government’s plan in the area of hydrogen production and transportation?

The Romanian government’s plan for hydrogen production and transportation is outlined in the National Hydrogen Strategy for 2023-2030. The strategy aims to develop a sustainable and competitive hydrogen sector in Romania, while also supporting the country’s energy transition goals. Some of our measures include financial incentives and a favorable legislative framework. Our scheme for supporting hydrogen production has already been launched, with 19 contracts for hydrogen production plants currently being evaluated.

Are there any plans to promote electric vehicles and charging infrastructure to reduce reliance on fossil fuels in the transportation sector?

To reduce reliance on fossil fuels in transportation, Romania is promoting the adoption of electric vehicles (EVs). The government offers purchase incentives under the Rabla Plus program, providing subsidies for both electric and hybrid vehicles. Romania is also investing in expanding the EV charging infrastructure, aiming to have a nationwide network of fast-charging stations. We are currently exploring partnerships with private companies to accelerate the deployment of charging infrastructure.

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A Regional Tech Hub For Emerging Technologies An Interview with His Excellency Bogdan-Gruia Ivan, Minister of Research, Innovation and Digitalization, Romania EDITORS’ NOTE Bogdan-Gruia tender for IT products and solutions for Ivan is the Minister of Research, the four data centers that will effectively Innovation and Digitalization make up the cloud and ensure the and the youngest minister in the hosting of the IT systems of the public Romanian Government. He was authorities. The framework agreement elected to the Romanian Chamber tendered by STS has an estimated value of Deputies in 2020, where he was of over €100 million.

Vice-President of the Committee for We are working on the specific legisInformation and Communications lation governing this essential project and Technology. He was also a member its placement in the central public adminof the parliamentary committees istration ecosystem. The cloud is only for Public Administration and for part of what we are building now. We are Automation and the Future of Work. H.E. Bogdan-Gruia Ivan working on the National Interoperability He was a co-initiator of the laws that Platform which will connect the public laid the foundation for Romania’s digital trans- institutions’ databases at the local and central level, formation, the most important being the law on facilitating the automated exchange of information the interoperability of public sector databases. they now manage. This will vastly contribute to the unification and simplification of the way the What are the latest developments regarding Romanian administration works. But first and forethe development of Romania’s Governmental most, we’re focused on the user experience: Cloud project? we want to bring the government’s digital public Romania’s Governmental Cloud project services closer to all Romanians around the world. is the most important result of Component 7 – The Governmental Cloud and the Interoperability Digital Transformation from Romania’s National Platform will replace unnecessary trips to instituRecovery and Resilience Plan. This investment, tions as well as copied documents and heavy financed through European funding, is worth folders that Romanians needed to present when over €560 million and will be completed in interacting with authorities.

2026. However, we’re working hard to ensure Because we live in a world where asymthat all deadlines are met until then. I’ve recently metric threats are more present than ever, managed to bring together all the institutional what are the main government/ministerial partners in this project and to clear up the neces- initiatives related to cybersecurity, and how sary steps we need to take in order to effectively is Romania playing a role nationally and at and swiftly implement this project. the EU level in the cybersecurity area?

In short, Romania’s Governmental Cloud is Our digital world is more interconnected an IT infrastructure that will bring the adminis- than ever, but cyber threats are more sophistitration’s databases to one place. This investment cated than ever. The global nature of cybercrime will shape the way the Romanian Government demands shared efforts. Cooperation is the will function over generations to come. We will foundation of any strong cybersecurity strategy. use state-of-the-art technology to make sure As we continue to navigate the complexities of that citizens will be able to access and benefit our digital world, cooperation remains our most from digital public services. Interacting with the important tool in the battle against cyber threats. administration has rarely been a pleasant motivaRomania views cybersecurity as a shared tion – that is why we want to make things easier responsibility, together with our partners and for people. allies in NATO. North of our borders, the most The project’s status is on schedule. Along technologically advanced war in human history with World Bank experts, we are working on is taking place. In this context, we are currently the analysis and prioritization of the first consolidating a cybersecurity culture at a national batch of 30 administration IT systems in the level. We have a national strategy on cyber. We central administration that will migrate to the have new scholar disciplines at universities with Governmental Cloud. Furthermore, the Special cybersecurity studies. We have strong institutions Telecommunications Service (STS), which is that protect our critical infrastructure. We have one of the institutional partners in this project dedicated experts working around the clock to along with the Cyberint Center of the Romanian counter cyber threats. This is why Romania can Intelligence Service (SRI), just launched a public become a promotor of regional security.

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By becoming a regional hub for innovative technologies and cybersecurity, Romania can assist its neighbors in their cyber efforts.

The IT sector in Romania is about 7 percent of the GDP and this is mainly due to the quality of the young people working in this sector. What are the main initiatives at the level of your ministry to attract highly specialized human resources from abroad in activities such as research, development, and innovation?

We have amazing opportunities for our IT and R&I ecosystems. We now have the necessary funds, EU funds, for the Romanian digitalization, research, and innovation to make its mark at the European and global level.

We started consultations with the most important developers of advanced technologies from the private and academic environment for AI technologies, quantum and blockchain. My vision is to make Romania a regional hub for emerging technologies, and we are currently laying the groundwork for this objective to become a reality.

Romania is the third largest digital economy and the second largest e-commerce market in Central and Eastern Europe. The Romanian technology sector is developing tools and solutions that significantly enhance productivity in various industries. As Romania went through a process of accelerated digital transformation during the pandemic, businesses began to automate processes, streamline operations, and make datadriven decisions, leading to increased efficiency and reduced costs. As we all know, digital transformation is a process that, once started, can’t be stopped. The Romanian Government is now part of this process, and things will evolve with greater speed in the years to come, leading to further GDP growth, new jobs, and a consolidated digital economy.

Romania has great results and a fantastic outlook: • An increase of 2.5 times in IT exports of products and services in the last 5 years from €2.5 billion to €6 billion • A 3-fold increase in exports of R&D (research and development) services from €200 million to €600 million • Potential 4-fold growth for Romania’s digital economy to €50 billion in 2030, thanks to investments in ICT sector, which also includes European funds for the digital transformation of the public administration

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“In short, Romania’s Governmental Cloud is an IT infrastructure that will bring the administration’s databases in one place. This investment will shape the way the Romanian Government will function over generations to come. We will use state-of-the-art technology to make sure that citizens will be able to access and benefit from digital public services.”

By 2026, Romania’s digital economy will grow through the implementation of the Governmental Cloud project that will facilitate Romania’s transition to a reliable and dynamic data-based economy.

Romania is deeply involved in implementing the national resilience and recovery plan. What are the main investments related to the IT sector that your ministry is responsible for?

The main areas are public sector digital transformation, IT infrastructure, cybersecurity and increasing digital skills – both basic and advanced.

Aside from the Governmental Cloud, the projects we manage will generate tangible results for our citizens. As I mentioned earlier, digital transformation is a process that, once started, can never be stopped – and that’s why we can’t leave anyone behind. We are digitally transforming and modernizing over 1,000 rural libraries with €37 million from European funds for the benefit of hundreds of thousands of Romanians. We need to develop the digital skills of citizens, not only in the urban areas, but to bring the benefits of technology to the level of every village in Romania. The digital training communities we create through this project will bring technology closer to hundreds of thousands of Romanians in the years to come.

We also have €36 million that we invest in a project to develop advanced digital skills for the employees of over 2,000 SMEs. We need to finance high skilled work, so we allocated these funds for strategic digital areas, such as Internet of Things, cloud technologies, RPA, big data, machine learning, AI, blockchain and additive manufacturing.

Moreover, our innovation ecosystem now has unprecedented opportunities: we have over €250 million from European funds in Component 9 of the PNRR. Through these funds, Romanian research and innovation can make their mark at the European and global level.

Seven thousand five hundred companies that activate in R&D and innovation areas will be financed with over €600 million through the National Research, Development and Innovation Plan. Through effective research and innovation policies and through our partnership with the private and academic sector, we will transform Romania into a regional hub for innovative technologies.

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grateful for the support we received from the European Union. We now have a mission to find the most effective public policies and projects to take Romania further and achieve great results. I think that this will be the most effective business card a country has in the digital age – working together to become stronger together.

Is there an inter-ministerial body/structure in charge of prioritizing and assessing the e-government projects and their impact on reducing bureaucracy?

Aside from the PNRR Task Force that operates within our ministry, Romania also has an inter-ministerial body, presided by the Prime Minister, that tackles bureaucracy. This committee – the Committee for E-government and Bureaucracy Reduction – is responsible for the public policies and the concrete projects that will bring public services closer to citizens and companies. In its most recent meeting, Prime Minister Marcel Ciolacu requested all ministries in the Romanian Government to submit projects and nominate public services that will be digitally transformed through the €524 million allocated in the European Multiannual Financial Framework for the digital public services.

How are EU funds supporting the Romanian public administration transformation and are there specific projects the funds are allocated to?

We have more than €6 billion in EU funds in the National Recovery and Resilience Plan for the digital transformation of the administration and the economy. These projects have a special Task Force in our ministry that oversees their implementation on a technical level. We also have over €524 million for the development of electronic public services for the benefit of citizens and companies in the European Multiannual Financial Framework. Once all these projects have been implemented, they will mark a paradigm shift in the way both the administration and the private sector work.

Despite the fact that Romania has one of the fastest Internet connections worldwide, there are still important areas where there is no Internet connection. What are the main initiatives in this area, considering the economic impact of the Internet on businesses?

High-speed Internet is a huge chance for a better future. Through a €94 million PNRR funding, we will connect 945 rural regions in “white areas” to high-speed Internet. “White

areas” designate areas where there is no Internet or fixed networks are insufficiently developed. I want all children in rural schools to have Internet access as this is mandatory to ensure equal opportunities for all. The investment I mentioned does not only target schools, but also town halls and other public institutions that need this resource to carry out their activities.

Is your ministry working with private companies and international organizations in implementing this ambitious agenda?

We are working closely with the World Bank and the European Investment Bank. We consulted with key partners in the private sector because the administration can only be digitally transformed using the technologies that the private sector has developed.

Will you discuss Romania’s efforts in the areas of AI and supercomputing?

AI is going to have huge implications for the economy and the society as a whole. Ensuring a trustworthy AI and using it to increase competitiveness are key objectives for Romania. We launched Romania’s AI Strategy for public debate in September. By the end of the year, I’m confident we will have a final strategy that integrates both the European framework in the AI Act and Romania’s custom approach to new technologies. We also started consultations with the most important developers of advanced technologies from the private and academic sectors for quantum technologies and blockchain.

What countries does Romania cooperate with to bring and develop new technologies and what role do you see for multinationals and for private capital in this area?

As I began my term in the Romanian Government, my focus was on the key projects that will take Romania to the next level.

It is not enough to focus only on the present.

Technology is continuously evolving. That is why we started consultations with the most important developers of advanced technologies from the private and academic environment for AI technologies, quantum, and blockchain.

My vision is to make Romania a regional tech hub for emerging technologies. We are open to cooperating with all our Transatlantic and European partners. Furthermore, by working together with global players in the tech industry as well as SMEs and Romanian companies with great potential, we are currently laying the groundwork for Romania’s establishment as a regional tech hub to become a reality.

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Going Where The Big Ships Can’t An Interview with Janet Bava, Chief Commercial Officer, Windstar Cruises EDITORS’ NOTE Cuban born and and Eastern Canada, the Middle East, Miami raised, Janet Bava found and the South Pacific, including a her love for travel at a young age. ship year-round in Tahiti. Windstar She had her first taste of cruising at launched the $250 Million Star Plus the age of 15 when she celebrated Initiative to transform the three all-suite her quinceañera onboard a Royal Star Plus Class yachts with new suites, Caribbean cruise ship and never restaurants, and a world-class spa and looked back. She describes herself fitness center. The award-winning line as a cruise lifer and internationally is known for immersive experiences, travel driven – she even met her destination authenticity, port-intensive husband while traveling through itineraries, exceptional service, and an Italy during her college years. innovative culinary program.

Janet Bava Prior to joining Windstar Cruises during the summer of 2023, Bava What excited you about the was most recently the Chief Marketing Officer opportunity to join Windstar Cruises and for AmaWaterways River Cruises and she has made you feel it was the right fit? spent upwards of 20 years working in the travel Returning to the ocean cruise world holds industry. Most notably, prior to AmaWaterways, a deep personal significance for me. It’s not just Bava was the VP of Marketing (The Americas) a professional endeavor for me – it’s a journey for Silversea Cruises where she fell in love with back to where my passion for cruising first set small-ship luxury cruising. Bava graduated sail. My connection to the sea, and the love for from Florida International University with a the industry, was ignited at the age of 15 when marketing and international business degree.

I embarked on my very first cruise departing from my hometown in Miami with my family C O M PA N Y B R I E F W i n d s t a r C r u i s e s and close friends to celebrate my milestone (windstarcruises.com) operates a fleet of six birthday, which has such significance as a Latina boutique all-suite and sailing yachts carrying female.

148-342 guests. Small ship cruises sail I’m thrilled to not only return to my roots, throughout Europe, the Caribbean, Costa Rica but also to expand my responsibilities and and the Panama Canal, Asia, New England grow professionally. It’s an exciting prospect

Wind Spirit, a sleek, four-masted sailing yacht accommodating 148 guests 164 LEADERS

to be part of Windstar Cruises, a beloved brand that has a rich history of providing exceptional experiences at sea. What’s even more exhilarating is the opportunity to work in a new category that focuses on yacht-style sail ships. This presents a fresh and invigorating challenge, and I’m eager to bring my expertise to this unique aspect of the cruising world.

Will you provide an overview of your role and areas of focus?

As Chief Commercial Officer, I’m responsible for driving strategic growth initiatives, a multifaceted responsibility that encompasses a range of vital revenue generating functions within our organization leading marketing, sales, reservations, revenue management and deployment teams to achieve our overarching objective: to elevate our company’s position in the global cruise market.

Will you highlight the history of Windstar Cruises and how you define the Windstar difference?

Windstar Cruises is part of the Xanterra Travel Collection, a group of global hospitality and travel companies, one of which traces its history back over a hundred years of operating our country’s iconic national parks, including Grand Canyon, Yellowstone, Glacier, Death Valley, and many others. Xanterra Travel Collection is owned by The Anschutz Corporation, the ultimate owner of the Broadmoor, Sea Island, and entertainment giant AEG, Anschutz Entertainment Group. Windstar is the only cruise company in the collection and has a long history of “going where the big ships can’t.”

When Windstar began in the early 1980s, it was comprised solely of motorized sailing vessels. It continued to be known as a “sailing ship” company when it was owned by Holland America Line, but after the sale to Xanterra Travel Collection in 2011, the line expanded to include the acquisition of three additional all-suite yachts – ones without sails. Windstar subsequently launched the $250 Million Star Plus Initiative to transform the three all-suite yachts, now dubbed the Star Plus Class yachts, with new suites, restaurants, and a world-class spa and fitness center – a project which was completed in 2022. Despite being comprised of three motorized sailing yachts – dubbed our Wind Class yachts – and three Star Plus Class yachts, the Windstar experience is singular.

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Windstar guests enjoy Mallorca, Spain

The award-winning line is known for immersive experiences, destination authenticity, port-intensive itineraries, exceptional service, and an innovative culinary program. At Windstar, we like to say that we are 180 degrees from ordinary.

You can take all our guests and crew, and they would not even fill one life boat on a modern mega ship. Windstar is manageable, intimate, cozy, and unpretentious. It is a cruise line where like-minded cultured, social, and worldly people come together with attentive and unobtrusive staff. Windstar’s small but nimble yachts can access places and waterways large ships simply cannot, even in big cities like London, Windstar sails up the Thames and berths at Tower Bridge; getting to dock in Dubrovnik and Venice when big ships are turned away; accessing ports big ships could never dream of, like Gustavia on gorgeous St. Barts.

Will you pr ovide an overview of Windstar’s destinations?

Windstar Cruises prides itself on offering a diverse array of enchanting destinations to our discerning guests. In Europe, we navigate the historic waters of the Mediterranean, weaving through the stunning Greek Isles, exploring the coastal gems of Italy and Croatia, and discovering the allure of the French and Spanish Rivieras. Our voyages also include the enchanting ports of Northern Europe, taking travelers on captivating journeys to the British Isles, the majestic fjords of Norway, and the iconic cities of the Baltic.

In the Caribbean, we offer an escape to paradise, with our ships gliding through the crystalline waters of the Caribbean Sea. From the sun-kissed beaches of the Windward Islands to the vibrant culture of the West Indies, our Caribbean cruises promise a tropical dream come true.

For those seeking exotic adventures, our itineraries take us to the lush rainforests and captivating wildlife of Costa Rica and the awe-inspiring engineering marvels of the Panama Canal. Meanwhile, our Asian journeys transport travelers to the vibrant markets and storied histories of Southeast Asia, with visits to Thailand, Malaysia, and more.

Venturing to North America, we explore the scenic beauty of New England and Eastern Canada. These cruises showcase the splendor of the fall foliage, the rich maritime heritage of the region, and the historic charm of coastal towns.

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In the South Pacific, we maintain a yearround presence in the romantic islands of Tahiti, where the azure waters, overwater bungalows, and Polynesian culture create an unparalleled paradise. With over 36 years of sailing experience in Tahiti, our voyages in this region offer an idyllic escape to some of the world’s most coveted destinations.

Windstar Cruises is dedicated to delivering beyond ordinary experiences to our guests across these diverse destinations, ensuring that every voyage is a memorable journey of exploration and enrichment.

How is new technology impacting the way Windstar Cruises operates?

We’re always leveraging new technology and upgrading our systems to take advantage of relevant and logical advances. For example, we’ve been at the forefront of using Starlink Maritime for high-speed, broadband satellite internet capabilities both while sailing and when in port. We’ve also recently completed a major re-engine project – utilizing the latest selective catalytic reactors to reduce emissions – allowing Windstar to travel with a softer footprint on the environment.

One of Windstar’s three all-suite Star Plus Class yachts

Luxury is a word that is used often today. How do you define the meaning of a true luxury travel experience?

Windstar’s luxury is a quiet luxury. For us, a luxury travel experience is one that’s highly personalized intuitive service from a genuinely caring crew who will remember the guest’s name and preferences before the first day is over. It’s a very relaxed social ambiance with like-minded cruisers who are travelers, not tourists. Windstar’s sailings target luxury clients that are looking for customizable, high-end experiences that allow for a great deal of local immersion. Luxury also means eating well. To that end, we are the Official Cruise Line of the James Beard Foundation and have an elevated culinary program featuring an array of fresh, seasonal ingredients sourced from each port along the journey.

Do you feel that there are strong opportunities for women to grow and lead in the industry?

It’s really inspiring to see the strong opportunities that have emerged in the last decades for women to grow and lead in the

cruise industry. Windstar Cruises is committed to diversity and inclusion and is proud of our shoreside executive team, where several women lead the company in a variety of departments contributing their expertise to our continued success. Additionally, our commitment to gender equality extends to our onboard leadership, where we’re glad to have an array of female leaders.

One remarkable example is Windstar Captain Belinda Bennett, who holds the distinction of being the world’s first Black female cruise ship captain. Captain Bennett’s trailblazing career is a testament to the industry’s growing inclusivity and recognition of women’s capabilities in leadership roles. Her presence on board our ships is not only inspiring, but also symbolic of the broader shifts happening in the industry.

I am grateful for all the women that have supported and inspired me throughout my career. These women have not only supported me, but also have made great contributions to the industry’s continued growth and development – some who ar e now leading companies like Barbara Muckermann, named President of Silversea this year, to Alice Norsworthy, President, Global Marketing and Sales at Universal Parks and Resorts, to Kristin Karst, who co-founded AmaWaterways. Last, but not least, I will never forget Betsy O-Rourke – while being the CMO at Royal Caribbean promoting me when I came back from maternity leave and later in life her recommendation to becoming her successor for my current role. Without these women in my career trajectory, I could not have achieved what I have been able to achieve to date.

You have spent your career in the hospitality industry. What has made the industry so special for you?

The hospitality industry, particularly in the context of global cruising, holds a unique and profound significance in my career. It’s the dynamic blend of personal and professional growth based on my passion for traveling the world with my family from a very young age.

Connecting with people from all corners of the globe provides an avenue for cultural exchange, forging bonds with individuals from diverse backgrounds, and fostering a sense of global community. This aspect is particularly enriching for me as a Latina, as it allows me to celebrate and share my own heritage while learning from and appreciating the cultures of our guests and colleagues.

The hospitality industry is truly a realm of endless possibilities. It’s a place where I’ve been able to ascend the ranks and take on leadership roles. This industry has given me the opportunity to inspire and empower others.

The world of cruising is a platform for delivering extraordinary experiences. We have the privilege of creating lifelong memories for our guests, helping them explore new horizons and experience the world in unique and meaningful ways. This, for me, is a source of immense pride and motivation.

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The Jo-ji Experience An Interview with George Ruan, Executive Chef; Xiao Lin, Chef and Partner; Wayne Cheng, Chef and Partner, Jōō ji EDITORS’ NOTE George Ruan’s innate appreciation for fish and love of food would become a foundation for his rise as a sushi chef. In 2004, Ruan took on an opportunity to work for worldrenowned Chef Masa, initially hired as a server. Recognized for his dedication and work ethic, he was soon training in the kitchen and at the grill station. When his potential as a sushi chef was revealed, he spent nearly two decades honing his craft at Masa.

This incredible opportunity to train in both front and back of the house in three Michelin starred Masa developed his keen understanding of Japanese cuisine and commitment to fine dining. Ruan introduces his namesake, Jōji, as an homage, a celebration and an interpretation of the cherished omakase experience.

Born in Fuzhou, China, Xiao Lin, whose mother was a chef, moved to Japan for two years when he was 21 to study the Japanese language at school and then college. After that, he came to America where he worked intensively to immerse himself in the subtleties of Japanese cuisine. Passionately dedicated to cooking a wide range of styles, he quickly graduated to work in a Michelin-starr ed Kaiseki r estaurant, Brushstr oke, befor e moving to the highly acclaimed Bar Masa and Masa. His most recent position before joining the Jōji team was Head Chef at Sushi Azabu.

Lin’s love of food and the thrilling pursuit of collaborating with a team inside the kitchen of a great restaurant is the culmination of 20 years of passionate involvement in the culinary world.

Born and raised in Hong Kong, Wayne Cheng’s culinary journey began at the age of 17, inspired by his upbringing surrounded by the Uni far ms of his father and the Cantonese cuisine of his grandfather. Since moving to New York City in 2009 to work at three-Michelin-starred restaurants Masa and Eleven Madison Park, he has continued to evolve his cuisine, inspired by his Cantonese, Japanese, and European culinary training background. After successfully developing the kitchen menu at New York City’s hottest new cocktail bar, Martiny’s, Cheng was eager for this next chapter: bringing his fresh perspective and unique culinary style to sushi omakase at Jōji.

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Xiao Lin, George Ruan, Wayne Cheng

RESTAURANT BRIEF At Jōji (jojiny.com), a chef and sommelier share the culinary stage to create a dining experience unlike any other. Nestled within a serene refuge in the heart of Midtown’s iconic One Vanderbilt, the intimate dining room is infused with authentic Japanese character, designed with a deep reverence of nature to create a refined and serene dining experience that both inspires and delights.

The traditional multi-course omakase experience is uniquely designed for each guest using only the finest seasonally available ingredients, paired with premium sake and fine wine. With dining operations overseen by Michelin-Starred Chef Daniel Boulud, Jōji delivers a sophisticated, elegant culinary journey for every guest. Jōji has been awarded a prestigious Michelin star.

Will you discuss your career journeys as chefs?

Ruan: My father was always in the food industry, but I studied accounting when I went to college. I was working part-time as a server and it just happened that I stayed in the industry. I do not think I would be as happy in another career – I love being a chef. It was about being in the right place at the right time.

Cheng: I started at a young age, around 17, and knew what I wanted to do. I enjoyed cooking since I was a child – it came from my parents who loved to cook.

Lin: When I was 10 years old, my mother had a small restaurant in China, and I helped her at times. I really enjoyed the food from the chef, and while at the time I did not know that I would become a chef myself, I think this is where my interest in cooking started.

How did the opportunity to create develop?

Ruan: When COVID happened, the restaurant industry was devastated, and we were out of jobs. I was doing a lot of catering at people’s homes since the restaurants were closed and people didn’t want to go out. I brought together people I knew to help with catering and to work

Jōji restaurant’s rock garden (above); Jōji seasonal selection of sushi and seared akamutsu fish (opposite page)

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with me on private events. One of our biggest supporters was Michael Rodriguez, and with his relationships with the real estate industry, Michael helped introduce us to Marc Holliday and SL Green which made this happen. Marc is a visionary and it has been amazing to be a part of One Vanderbilt and to have such engaged and supportive owners of Jōji.

What was it like for the three of you to go out on your own to run the restaurant?

Cheng: We did not have a plan to run our own restaurant, but the timing was right – when you have the right timing, the right team, and the right partners – you can create something amazing.

Lin: We have known each other for more than a decade, so we know how each of us works and what we do well. It was a great opportunity to take our talents and bring them together to build Jōji.

How do you describe the experience and what makes different?

Ruan: We are focused on the guest experience and making sure our guests have a great time. Jōji is not stuffy – it is a welcoming environment where you enjoy omakase while talking to the chef and meeting new people sitting around you. Jōji is a place where you can make friends while having a special dining experience.

Will you highlight the private dining room at ?

Ruan: The private dining room at Jōji is unique. You will have a private chef working with you the entire time – it is an opportunity to have your own private party with an omakase chef. I do not think there is any other omakase restaurant that offers what we are doing at Jōji – you are even able to play your own music. has many repeat guests. How important is it to continue to innovate and adapt the offerings?

Cheng: We change the menu for the regular guests so that each time they come, they will have a different food experience. We focus on understanding their palate so that we are able to cater to their food preferences. Our priority is the guest experience, and we want to build relationships with our guests and understand their wants and needs. This is what defines a true fine dining experience – it is about great food, great wine, great service, and making connections.

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Lin: We see our guests as friends, and we have built many great relationships with our guests which has made Jōji special.

How critical has it been to build the team?

Ruan: We all worked at Masa, and there is no better place to learn and train as you grow your career. Masa teaches you to focus on every detail – even the smallest details. The attention to detail that Chef Masa wanted every single night it is hard to explain.

That experience was so valuable in teaching us what is takes to create a special restaurant, and there is nothing more important than building a great team. You need to have a team that shares the same philosophy and same goals.

Cheng: We look for people who have a positive vibe since it takes more than the three of us to make this work – it is about the entire team that is working together to create the Jōji experience. We have taken our Masa experience and developed something different – Jōji is more casual and a different type of service, while still being committed to the highest standards.

Lin: It helps that many of the people on our team have worked together in the past, so we know each other and trust each other.

Will you highlight ’s takeout offering, Box? Ruan: Jōji is located in the heart of Manhattan in One Vanderbilt at 42nd Street and Grand Central Station. This is the mecca of New York City. We wanted to create an opportunity for people who may not have been able to dine at Jōji to still experience the quality of the food.

Jōji is a ten-seat restaurant, so not everyone is able to join us here, but the Jōji box is a great way to experience Jōji. We believe it is the best quality to-go offering in New York City with the freshest fish selection available.

Lin: We see strong opportunities to work with leading companies in Midtown Manhattan to fulfill the needs of their executives and employees with a high-quality, fresh, and heathy to-go offering. recently received a Michelin Star.

What did this recognition mean to you?

Cheng: Receiving a Michelin Star means that we need to continue to move forward and continue to raise the bar. It meant a lot to our entire team to be recognized for our hard work, but our focus is on continuous improvement.

Lin: It means a lot to the three of us as chefs, and to our whole team. It is always special to be recognized for your work, and it makes us want to get even better in the future.

Our main focus is on hospitality, and on the guest experience.

Ruan: The recognition has been amazing.

This is not the endpoint – we are shooting for more than one star. Having said that, our main focus is to make the people who come to Jōji, the people who helped us create Jōji, and the people who have supported Jōji from the beginning, be happy and proud.

How do you define the keys to a true fine dining experience?

Cheng: It starts when the guest takes their first step into the restaurant – the smell, the

touch, the music, the energy. It is about the entire experience, from the service and food to the environment and vibe.

Will you elaborate on the importance of having owners who are so engaged and committed to ?

Ruan: This is the most important part of making Jōji successful. Whether it is Marc Holliday or Michael Rodriguez – those are the people who really made this happen. They have been supportive since the beginning and are always willing to do whatever it takes to make Jōji better. They are true partners, and we are fortunate to be able to rely on their support and expertise.

What has made the relationship between the three of you work so well?

Ruan: We come from different backgrounds with different experiences, but it all comes together since we have the same beliefs about service and quality. We each have experience with different cuisines, and bringing this knowledge together has been very effective.

Cheng: We are not just partners in the business – we are friends. We respect each other and trust each other.

Lin: We enjoy working together, and we are all committed to making Jōji the best restaurant possible. It is great to work with people you admire and who you enjoy being around.

What advice do you offer to young people interested in pursuing a career as a chef?

Ruan: It has to be your passion. If you don’t love what you do, then it is a job. You need to enjoy being with people – whether it is the people you are serving or the people you work with. It is like a show where everyone is watching what you are doing, so you need to do it right.

Lin: It takes hard work and commitment, but it is worth it since you have the opportunity to provide people with special experiences and be a part of their special moments in life.

Cheng: Like George said, it is like a show, and once the doors open, the lights are on. You need to be on the top of your game every night since it is about providing each and every guest with a memorable experience.

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The Evolution Of An Icon An Interview with Mark Ferland, Area General Manager, The Ritz-Carlton, Naples EDITORS’ NOTE Mark Ferland Guests are immediately greeted established his roots with Ritzby a refreshed lobby and new Lobby Carlton more than 20 years ago Bar, specializing in Champagne, and and has been integral to the it is once again the social center brand’s growth in the Southeast of Naples. T wo additional new region and beyond. Early in his dining spaces were unveiled alongcar eer, he opened several Ritzside the Lobby Bar including Sofra, Carlton hotels in sales and which focuses on vegetable-forward marketing. He was later promoted Mediterranean shared plates, as well to Vice Pr esident, Global Sales as the coffee shop Moka, serving handwhere he oversaw all Global Sales picked beans from a third generation offices and Field Sales for Ritzroasting family.

Mark Ferland Carlton. He accepted his first A major highlight of the transforGeneral Manager assignment at mation is the addition of the Vanderbilt The Ritz-Carlton, Atlanta befor e joining Tower. This new tower comprises 70 Club Level the 584-room The Ritz-Carlton, Orlando, suite accommodations and a sprawling 4,000 Grande Lakes. Most recently, Ferland served square foot Club Lounge – which is the most as Market General Manager of The Ritz- spacious and innovative in the brand with a fullCarlton Key Biscayne, Miami, and The Ritz- service bar, media room, exclusive programCarlton, Coconut Grove, Miami where both ming, and five daily culinary presentations. luxury properties unveiled masterful rede- Alongside this new tower, there were extensive signs and new offerings under his leadership. redesigns to all other guest rooms and suites Joining The Ritz-Carlton, Naples in 2022 as within the resort.

Area General Manager, Ferland has led the Guests will now also find a revamped full transformation of the iconic property outdoor experience including new pools, cabanas and ten enclosed bungalows complete PROPERTY BRIEF An icon of Florida’s Paradise with air conditioning, living space, and bathCoast, The Ritz-Carlton, Naples (ritzcarlton.com/ room facilities for extra privacy and comfort. naples) recently reopened its doors to debut its How did you balance keeping some of long-awaited “Evolution of an Icon” transfor- the history and traditions of the resort mation. The comprehensive renovations inspire with the focus on bringing a modern and a new guest experience that pays homage to current feel as part of the transformation? nearly 40 years of iconic experiences, featuring As a legendary resort on Florida’s Paradise a stunning new lobby and Lobby Bar, three new Coast for nearly four decades, it was important dining outlets, a redesigned pool experience, an to honor traditions while ushering the property expansive Ritz-Carlton Club Lounge and newly- into its next era. So many of our guests have designed luxury guest rooms and suites. Located a strong connection and memories that have along the beautiful shores of the Gulf of Mexico, been made here, and it was crucial for us to The Ritz-Carlton, Naples extends its legacy of ensure that continued as we look towards the world-class amenities and extraordinary guest future of the resort. While the appearance is service, making it the perfect escape for creating new, the roots remain, and the commitunforgettable memories. ment to the service and guest experiences that we’re truly known for is still very much at the Will you highlight the transformation that forefront. has taken place at The Ritz-Carlton, Naples?

Within the new design, inspiration was It has been such an honor to bring drawn from the historic glamour of travel and the incredible transformation of The Ritz- the destination’s unique coastal elegance, which Carlton, Naples to life this year. As one of resulted in interiors that honor the resort’s herithe largest renovations in the history of tage and traditions. The result was a timeless The Ritz-Carlton brand, we left no stone luxury that guests have been very excited about unturned and this level of investment to the since returning. future of the resort is a testament to our Will you discuss The Ritz-Carlton, Naples’ loyal and future guests, as well as the local focus on offering personalized service and a Naples community. customized guest experience?

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Exceptional service first starts with our Ladies & Gentlemen, and our dedication to them within our “Employee Promise.” It states “our Ladies & Gentlemen are the most important resource in our service commitment to our guests” and I have seen that translate directly into the premier level of service that they provide. The employee promise is a key component of our Gold Standard, which also outlines steps of service and service values.

The level of service and commitment to the guest experience defines The Ritz-Carlton as a brand and leads everything we do.

How do you define the role of the general manager and what are the keys to being effective in the role?

I define the role as a General Manager, especially within The Ritz-Carlton brand, by leading and energizing the brand values and being the guardians of the Ritz-Carlton culture.

Very few companies in the world have an employee promise and it is the very foundation of everything that we do. I personally lead and teach by our five Gold Standards, and I find it to be an extremely effective way to lead in the role. It all starts with focusing on our hotel values in orientation for new Ladies & Gentlemen, rather than the technical functions of their job. Immersing them in the culture of the hotel and Ritz-Carlton brand from the very beginning allows for true understanding of our priorities, which is premier service and guest experiences. We then inspire innovation, lead with compassion and accountability, and continuously empower our Ladies & Gentlemen.

What advice do you offer to young people interested in pursuing a career in hospitality?

This is an extremely rewarding career, as we are in the business of creating memories for our guests that will last forever. I would advise those interested in the hospitality industry to be patient and learn from your leaders and mentors.

Every general manager has started their journey with hourly positions and has worn many hats while working their way up which allows for many learning opportunities and exciting growth.

Joining a highly respected organization, such as Marriott International, provides endless opportunities to explore a variety of disciplines across food and beverage, rooms operations, sales, and more, that allow for your aspirations to be fulfilled. To be a general manager, this must be your passion. A hotel never closes and therefore requires commitment and flexibility, but it is all worth it.

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Personalized Service An Interview with Jenny Piccione, General Manager, The Ritz-Carlton Naples, Tiburón EDITORS’ NOTE Jenny Piccione is families, couples, groups of friends, a seasoned professional with more and all types of travelers. Guests can than two decades of experience expect a world beyond golf when they in luxury hospitality. She started check in to The Ritz-Carlton Naples, her career with the iconic RitzTiburón – from premier dining to Carlton b r a n d i n F l o r i d a a s a the immersive water feature, The F r o n t Office Agent at The RitzReservoir – there is so much to experiCarlton, Palm Beach. Her career ence while staying here. progression has primarily been Will you pr ovide an overfocused in operations including view of the room product at The the positions of Rooms Executive Ritz-Carlton Naples, Tiburón, and and Director of Operations at The the strength of the resort’s suite Jenny Piccione Ritz-Carlton, Buckhead. While at offering? the property, she transitioned into Between our golf and resort a new discipline and became the Director of view guest rooms and suites, every guest is Human Resources, where she was recognized going to receive spectacular views of lush with the organization’s Human Resources scenery that surrounds the property. We bring Operation Excellence Award. Prior to joining the calm feeling that nature provides into the The Ritz-Carlton Naples, Tiburón, she served interiors, with select accommodations offering as Hotel Manager at The Ritz-Carlton Orlando, balconies that seamlessly blend the two. The Grande Lakes. In this role, she managed a $34 spacious layout of our suites allow for a more million renovation that included guestrooms comfortable stay – whether with a larger and suites, pool, lobby, Club Lounge and a new family or simply as an extended stay. restaurant outlet.

How has The Ritz-Carlton Naples, Tiburón approached its restaurant/food PROPERTY BRIEF Nestled among native and beverage offerings? wetlands and migratory bird preserves, The Our guests are ahead of the curve when Ritz-Carlton Naples, Tiburón (ritzcarlton.com/ it comes to culinary experiences, so we’re tiburon) offers a sanctuary for couples and always continuing to innovate and provide families seeking serene spaces to relax and fresh and exciting dining moments. Our r eco nnect. Located within an Audubon dining destinations are relaxed, yet refined.

Cooperative Sanctuary, Tiburón Golf Club Bella Vista has been a long time favorite for features two legendary 18-hole champion- cocktails, snacks and unmatched views of the ship courses designed by Greg Norman and a 18th hole of Tiburón Golf Club. We introsuite of services for golf vacations. Inspired by duced Ría two years ago and it has become surrounding waters, The Reservoir waterpark a beloved destination for Latin American features a winding river, water slides, and flair, whether visiting for a casual poolside private cabanas. Guests can end their day in lunch to a relaxed dinner over tacos, cevithe sun with a cocktail overlooking the 18th ches, margaritas, and more. Local partners are hole at Bella Vista, or enjoy an irresistible, al extremely important to us, and celebrating fresco Latin American-inspired meal at Ría. those within the community, which is why I love our partnership with Wicked Dolphin Will you discuss the repositioning of Distillery, Naples Beach Brewery, Riptide The Ritz-Carlton Naples, Tiburón, and Brewing Company, and Bone Hook Brewing what guests can expect when visiting the Company for exclusive pop-up tastings. We’re resort? always exploring new offerings for our guests, This resort has always been known as a especially with culinary experiences, so I’m premier destination for golf – between our looking forward to introducing new concepts championship courses and annual professional in the near future to round out the cuisines tournaments – but we saw that our guests were we provide on-site. reflecting a much wider audience than those Will you discuss The Ritz-Carlton hitting the greens. We changed the name to The Naples, Tiburón’s focus on of fering Ritz-Carlton Naples, Tiburón to encapsulate the personalized service and a customized broader experience that the resort provides to guest experience?

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Personalized service is a hallmark of The Ritz-Carlton as a brand, and the focus on a customized experience for each and every guest is a key pillar of our resort’s ethos.

Guests look forward to returning to The Ritz-Carlton Naples, Tiburón because of our Ladies & Gentlemen’s dedication to meeting and exceeding all expectations. We not only deliver on what the guests are looking for from their visit with us, but we are anticipatory in their needs, which provides a sense of surprise and delight with each visit.

How do you define the role of the General Manager and what are the keys to being effective in the role?

As a General Manager, and a leader within your organization, you are focused on both the employee and guest experience, while always trying to improve and increase the property’s results and value of the asset.

There are many different hats you wear as a general manager, but leading by example and with compassion and caring for others is key for being effective in the role. I always strive to display a passion for excellence within the hotel for the Ladies & Gentlemen to emulate, which then provides an overall better guest experience. Innovation is another area that is important in being effective as a General Manager, as you must always look for ways to improve both the employee and guest experience.

Do you feel that there are strong opportunities for women to grow and lead in the industry?

Absolutely. Compared to the last few decades, it has become easier for women to obtain leadership roles in the hospitality industry. A woman’s ability to effectively lead teams has been overlooked in the past, but this has shifted drastically. There has been an understanding that we illustrate greater empathy, adaptability, and resilience in today’s work environment – and different perspectives have become valued around the table. I highly recommend the hospitality industry for women, as it has given me the opportunity to grow and take pivots in my career, where this would not be the norm in other industries. There are so many opportunities available in hospitality right now, and there are extensive ways to grow within Marriott International and The Ritz-Carlton brand specifically.

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Bringing Luxury Travel To All Passengers An Interview with Glenn Chai, Chief Executive Officer, STARLUX EDITORS’ NOTE As an established What have been the keys to aviation industry expert with over STARLUX’s strength and growth? two decades of experience, Glenn The keys to STARLUX’s strength Chai manages the compan y ’ s have been its commitment – and overall operations and leads its passion – to bring luxury travel to vision and strategies. Prior to all passengers. We are positioning joining STARLUX as CEO, Chai ourselves as a “boutique airline” held a variety of management posifocused on the transit market and the tions at EVA Airways leading the business traveler market. Our brand Business Coordination Division strategy centers on attracting business and Passenger Management travelers and mid-to-high-end travDepartments. Prior to EVA Airways, elers, building brand loyalty, avoiding Glenn Chai Chai was Executive Vice President price competition with the brand at EverFun Travel Services Corp., a premium effect, and filling the gap subsidiary of EVA Airways. He holds a degree between regular and boutique airline services in Business Administration and International in Taiwan to provide high-quality software Trade from Chung Yuan Christian University, and hardware services. We also target busiTaiwan. ness travelers and mid-to-high-end consumers who value a high-quality flight experience over COMPANY BRIEF Launched in 2020, STARLUX price. Thus, we deliver a consistent boutique (starlux-airlines.com) is a luxury airline based airline image through branding, great service in Taipei now serving 19 destinations. STARLUX and cabin design, and partnership with the bestis dedicated to providing exquisite services of-the-best in other industries. and utmost comfort for each passenger to enjoy an unforgettable journey. The STARLUX fleet consists of three types of new-generation Airbuses which are extremely efficient – A321neo, A330neo, and A350 – to provide the finest and eco-friendly journeys.

Will you discuss STARLUX’s history and how the airline has evolved?

S TA R L U X w a s f o u n d e d i n 2 0 1 8 b y K.W. Chang, former chairman of EVA Air, who strongly believes that luxury should be accessible to all, not just the elite. This philosophy has driven him and our team of aviation veterans and visionaries to create STARLUX, a carrier expanding in a world of no-frills airlines. We’re a boutique international airline that prioritizes safety and offers unparalleled service with the goal of making flying a truly luxurious and unforgettable experience.

STARLUX took to the skies in January 2020 with inaugural flights from Taipei to Macau, Da Nang, and Penang. STARLUX has since expanded its network to more than 18 Asian destinations. On April 26, 2023, we made our inaugural transpacific Taipei to Los Angeles flight, are currently gearing up to launch our second Taipei to San Francisco route, and also paving the way for more long-haul international flights.

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We are a rising star in the Asian market.

From the award-winning uniform design to the luxurious VIP room and high-performance fleet, we have brought a new standard to the airline industry. The cabin design sets a higher benchmark and creates an exquisite flight experience that is different from traditional airlines. Our expectation is that if we can accomplish things other airlines cannot duplicate, passengers will be drawn to us, whether they are regular customers of other airlines or not. We hope flying with us will be something that all passengers will look forward to.

Our belief that “Luxury should not be the exclusive experience of the elite, but rather available to everyone” is resonating with our passengers, many of whom have become loyal customers and advocates for STARLUX. Will you highlight the STARLUX fleet and destinations?

The STARLUX fleet consists of 21 cuttingedge, eco-friendly Airbus aircraft: A321neo (13), A330neo (4), and A350neo (4). STARLUX is serving

STARLUX aircraft (above and opposite page)

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“The keys to STARLUX’s strength have been its commitment – and passion – to bring luxury travel to all passengers. We are positioning ourselves as a ‘boutique airline’ focused on the transit market and the business traveler market.”

18 Asian destinations: Tokyo, Osaka, Fukuoka, Okinawa, Sapporo, Sendai, Kumamoto, Macau, Penang, Kuala Lumpur, Bangkok, Singapore, Ho Chi Minh City, Da Nang, Hanoi, Manila, Cebu, and Clark, with Nagoya and Chiang Mai next to be launched. We launched transpacific long-haul flights to the U.S. in April 2023 with service to Los Angeles, and recently added service to San Francisco.

Where do you see opportunities for growth for STARLUX? Our inaugural flight to Los Angeles this past April is just the first in a series of new longhaul intercontinental routes planned for North America, Europe, and Oceania, with nonstop service to San Francisco recently starting. From there, our plan is to launch one new U.S. route per year as part of a concerted push into longhaul travel.

STARLUX has always had two main target markets: the transit market and the high-yield passenger market. We establish our network and service plan based on the target markets.

According to IATA (International Air Transport Association), both these markets were booming VOLUME 47, NUMBER 1

in Q1 2023. In the Quarterly Air Transport Chartbook, IATA states that international traffic demand for routes between Asia and North America grew by 251.3 percent compared to Q1 2022. In addition, premium traffic, represented by first and business class passengers, has recovered faster than total passenger traffic.

IATA expects the aviation industry to return to profitability in 2023; STARLUX is also confident about the outlook.

How is STARLUX working to enhance the guest experience?

From first class to economy, STARLUX flights are designed to delight and soothe the senses, from earth-toned interiors to awardwinning crew attire to curated in-cabin aromatherapy and Michelin-rated meals.

Guests on the long-haul routes will enjoy luxury service. First and Business travelers have a private space with a sliding door and seats with full-flat and Zero G mode for full relaxation. The extra-legroom Premium Economy section features 40-inch Recaro seats with a leg rest and footrest bar. Economy Class seats are built for utmost comfort, with a leather

headrest and wide seat pitch. All guests have seatback entertainment featuring 4K personal large screens.

All STARLUX flights provide exquisite dining including Taiwanese signature dishes and amenities prepared for all-class passengers to enjoy an at-home experience in the air. To bring greater individuality to their air travel experience, passengers can pre-order meals online so they can enjoy the meal they want.

Will you highlight the STARLUX workforce and the talent of the team?

Founded as a company in 2018 with its first intra-Asia flight in January 2020, by all measures, STARLUX is a startup. However, we have some serious credentials in the space.

Founder and Chairman, K.W. Chang, is the former chairman of EVA Air, a well-regarded carrier also based in Taipei. Not only that, he’s also an esteemed pilot who holds the rank of captain for the Airbus A350 aircraft. In fact, he led and flew the STARLUX inaugural flight to Los Angeles. He is joined by a management team of aviation veterans and visionaries, all of whom bring with them expertise from many different airlines, allowing us to extract the best parts of their experience, enabling STARLUX to grow quickly.

What are your priorities for STARLUX as you look to the future?

Our base in Taipei provides an advantageous geographic location within the fastgrowing Asia-Pacific market. Our focus is on the transit and premium traveler market. Transit passengers only make up about 10 percent of volume – there’s still a lot of room for growth.

From Taipei, we can reach most major cities in Asia in five hours, and from Taipei, transit passengers can fly to further destinations in North America and Europe. We believe the number of transit passengers can reach 30-40 percent.

One of our priorities is to always differentiate ourselves by providing more and the best. We chose the most advanced aircraft in the market, employing the newest technology and seating in the cabin. We’re devoted to offering passengers quality and unprecedented amenities. We hope flying with STARLUX will be something that our passengers will look forward to – where all five sense – olfactory, gustatory, auditory, tactile, and visual – will be addressed and satisfied.

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A Family Business An Interview with Frank Monteleone, Co-Owner, Hotel Monteleone EDITORS’ NOTE Frank Monteleone Simultaneously, he is leading both hotel and filmmaking, Full Armor Films is a dynamic actor, producer, and the charge in establishing a multifac- is currently in development for a project entrepreneur. Alongside his body eted studio and production facility surrounding the hotel. of work in mainstream Hollywood, in the heart of New Orleans, partBalancing his creative endeavors, Monteleone is a distinguished nering with industry stalwarts Wolper Monteleone divides his time between New York pr oducer of independent films Organization and Keller Williams. and New Orleans, wher e he r esides with through his production company, Monteleone hopes to continue to stim- his wife, Kathleen, an actress and writer with Full Armor Films, as well as a family ulate the New Orleans economy by whom he runs their production company, and member and partial co-owner of the keeping production in New Orleans, as four children. legendary luxury Hotel Monteleone well as attracting other independent in the Fr ench Quarter of New filmmakers to the burgeoning local PR OPERT Y BRIEF Known as the grand Orleans. creative community by lowering the dame of Royal Str eet, Hotel Monteleone Frank Monteleone Monteleone’s notable acting bar for entry, including campaigning (hotelmonteleone.com) is one of the last great credits include the Warner Bros. for tax cr edits. He is at the helm family-owned and operated hotels in New Orleans. feature film Focus, where he shared the screen of working with the city to develop a property Since 1886, five generations of Monteleones with Will Smith, the Marvel series Cloak & to include a school, training facility for film, have dedicated themselves to making their Dagger, and the compelling legal drama Bull operational studio, and sound stages run by hotel what it was, and still is – a sparkling jewel on CBS. His versatility is evident in a spectrum of students. in the heart of the French Quarter. With over a roles, from the brooding drama of The Secrets Monteleone is a member of the largest century of history, Hotel Monteleone has earned We Keep to the intense Lonewolf: Manhunt on and last of the gr eat family-owned hotels numerous awards and prestige through dediCBS, as well as a recurring role on OWN’s in America, the Hotel Monteleone, which cated service and a commitment to comfort. highly acclaimed Queen Sugar. In 2022, he also has been featured in numerous films and This historic hotel is an official literary landgraced the screen alongside Terrence Howard TV shows and has set the scene for count- mark designated by the Friends of the Library and Malcolm McDowell in the period drama less literary works fr om authors such as Association and is a member of the Historic The Walk.

Ernest Hemingway, Tennessee Williams, and Hotels of America, the Preferred Hotel Group, Beyond his acting talent, Monteleone boasts William Faulkner. Combining his love for and Associated Luxury Hotels International. a remarkable 17-year journey as a creative producer. His production career took root in Off-Broadway theater, and in 2005, he founded Full Armor Films, a dynamic development and production company based in New Orleans. Full Armor Films has provided production services to esteemed clients like ESPN, Geffen Records, and L’Oréal, along with post-production services for industry giants like Warner Bros. and Relativity Media. Monteleone has elevated Full Armor Films into a burgeoning development hub dedicated to film and television. His co-creation and production of the series AVENUES, licensed by Lionsgate and currently available on Tubi, stands as a testament to his creative vision.

Notable projects also include the award-winning documentary Hotel Al, which aired on PBS, and the recently released feature film American Reject, featuring talents such as Annaleigh Ashford, Billy Ray Cyrus, and his wife, Kathleen Elizabeth Monteleone. Presently, Monteleone is executive producing the films Barron’s Cove, starring Brittany Snow and Garrett Hedlund; Fog of War, starring Mira Sorvino and John Cusack; and is in production for one of the only Louisiana-based independent films to obtain a SAG-AFTRA interim agreement during the strike The entrance of Hotel Monteleone in New Orleans titled, Average Joe. 172 LEADERS

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Acqua Bella Pool Bar

Will you discuss the history and heritage of Hotel Monteleone?

Hotel Monteleone is one of the last great family-owned and operated hotels in America today. It’s a historic and iconic luxury hotel located in the heart of the French Quarter in New Orleans, Louisiana, and its history dates back to 1886 when my great-great-grandfather, Antonio Monteleone, an Italian immigrant, purchased the Commercial Hotel on Royal Street. He was a well-known shoe cobbler in that era and he took a risk in buying a new business in a different field. Over the years, the hotel underwent several expansions and renovations, transforming it into the elegant establishment it is today. Through it all – five generations, in fact – the hotel has been looked after by my family.

One of the most notable features of Hotel Monteleone is our Carousel Bar, which was installed in 1949 by my great-grandfather, Frank Monteleone, and which Vogue once named one of “the world’s most iconic bars.”

The Carousel Bar is a rotating bar off the hotel’s lobby that slowly revolves, offering a unique and memorable drinking experience.

Over the years, it has become a very popular attraction.

One of my favorite aspects is the hotel’s rich literary history, having hosted numerous famous writers and literary figures over the years. The hotel is even mentioned in several literary works, further solidifying its place in the cultural history of our city. The Carousel Bar, in particular, was a favorite haunt of authors such as Tennessee Williams, William Faulkner, and Truman Capote, with Tennessee Williams known to remark that the French Quarter begins in the lobby of Hotel Monteleone. In 2011, Hotel Monteleone was designated a literary landmark by the Friends of the Library Association, VOLUME 47, NUMBER 1

recognizing its significant contribution to the literary culture of New Orleans.

As a family, we are proud that Hotel Monteleone continues to be a beloved landmark for guests and locals alike.

How do you balance keeping some of the history and traditions of the hotel with the need to offer a modern and current feel?

One of the biggest things I admire about my family and its history with Hotel Monteleone is that each generation has poured attention into and invested in the family business, as well as the surrounding French

Quarter. Every generation has witnessed the ebb and flow of history, including WWI and WWII, the Great Depression, and, of course, the recent pandemic, which closed our doors for the first time in history.

Despite the various struggles and social and cultural changes, the hotel has persevered and maintained its reputation for luxury and hospitality, and that really comes down to my family’s commitment and care. To that end, we just completed a full renovation to our Iberville Tower as well as the Iberville Ballroom, bringing the most up-to-date luxury finishes and amenities to our rooms and facilities. These upgrades will enhance our guests’ experiences for years to come.

Will you provide an overview of the suite product at Hotel Monteleone, and do you see the suite offering as a differentiator for the hotel?

The suites at Hotel Monteleone typically feature spacious and well-appointed accommodations with upscale furnishings and amenities.

Guests staying in suites often enjoy additional perks such as separate living areas, upgraded toiletries, and personalized services. The hotel takes pride in providing a high level of comfort and luxury to enhance the overall guest experience.

The suite offering at Hotel Monteleone is definitely a differentiator for the hotel. In a city known for its rich history and vibrant culture, having well-designed and comfortable suites adds an extra layer of allure. Our suites cater to discerning travelers who seek a more exclusive and indulgent stay.

To expand on the Iberville Tower renovations I mentioned, these new rooms offer a new generation of luxury for our guests, featuring technology such as electric mirrors and smart lighting plus detailed millwork, calming artwork,

Hotel Monteleone’s renowned Carousel Bar

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Living room of the William Faulkner Suite

and spacious marble bathrooms with Rain Head shower heads. The experience is elevated by grand vanities and parlors, with twice daily housekeeping and a New Orleans-themed welcome amenity.

On top of it all, the hotel has become a place for memorable occasions. I can’t tell you how often someone says they had parents, friends, or relatives who were married or hosted events or had romantic getaways at Hotel Monteleone. Its historic charm, central location, and upscale accommodations position the hotel as a standout choice for those looking for a unique and memorable stay in New Orleans.

How has Hotel Monteleone approached its restaurant/food and beverage offerings?

Aside from the Carousel Bar, we also feature Criollo Restaurant, which showcases the diverse flavors and traditions of New Orleans cuisine. Key aspects include culinary tradition with a modern twist, locally sourced ingredients, creative menu selection, crafted beverage selection and an elevated dining experience. Exclusively at Criollo Restaurant, we also offer Le Petit Chef, an immersive dining experience for the whole family. Along with a seasonal five-course meal, diners can enjoy the cinematic 3D storytelling of TableMation™ Studios, which guides guests through every delicious course in unison with Criollo’s staff.

Will you discuss Hotel Monteleone’s focus on offering personalized service and a customized guest experience?

A special and unique attribute of Hotel Monteleone is the family we have created with our staff. It is not uncommon to meet staff that have worked at the hotel for 30 years or more; in fact, my production company produced 174 LEADERS

Hotel Al, a short documentary about Al Barras, a doorman at the hotel for over 55 years and a true New Orleans character if there ever was one.

As a family-owned business, it’s our firm belief that when you’re with us you are part of the family. With the hotel’s historic charm and elegance, it is renowned for offering guests a personalized and intimate experience. The staff often goes the extra mile to make guests feel welcome and attended to, and the concierge offers attentive services to assist guests with various aspects of their stay, including recommendations for local attractions, dining, and entertainment. We aim to provide a range of accommodations to suit different guests’ preferences, and for guests celebrating special occasions such as anniversaries or weddings, the hotel offers amenities and packages to make these moments memorable. Returning guests who have come to know and love the Hotel Monteleone find that the staff recognizes and remembers them, and that we place a high degree of importance on their preferences, personalized amenities, and making them feel welcome.

You founded a production company, Full Armor Films. What was your vision for founding the company and how do you define its mission?

Full Armor Films was founded out of necessity – I needed a job after graduating college and I had an overwhelming love for movies. I was willing to do anything to see that dream become a reality, so I took out a business loan to secure the equipment I needed and became a one-man production company and crew. That was the beginning of it all.

Eventually I met the owner of a PR agency, which led to commercial work. My first pitch to commercial clients was, “Begin with creativity, end with originality.” After moving from commercial work to post-production, we had scaled up to 40 employees and I made the move to development. That is where the real vision for Full Armor Films crystallized: to celebrate unique voices and create projects with the potential to unlock the human heart. We shifted our focus to partnering with artists we knew we could trust and finding collaborations we could build on.

Over time, we set our sights on New Orleans, my family home, as our main production hub after working mainly in New York and Los Angeles. I guess you could say that we wanted to create a “bayou-coastal” company, and we aim to do that by disrupting the entertainment map and re-centering it at the mouth of the Mississippi River.

Will you highlight some of the work of Full Armor Films?

Since shifting our focus primarily to development and relocating to New Orleans, we released our first original feature film with 1091 Pictures, American Reject, which can be found on Apple, Amazon, and all major digital platforms. Written by and starring my wife, Kathleen Elizabeth Monteleone, and co-starring Billy Ray Cyrus, Annaleigh Ashford and Keala Settle, the film is a big-hearted music comedy inspired by Kathleen’s true story as a singing reality show hopeful.

We also worked with Lionsgate Television on a series, AVENUES, and the pilot can be found on Tubi. Currently, we’re working on a new series set in New Orleans; we have assembled a fantastic team and we’re eager to announce more details about that soon.

Finally, we’re in active development on two more feature films.

What advice do you offer to young people beginning their careers?

I like to give two pieces of advice. The first is: Put yourself to work. Even when you’re working on something else or for someone else, work on yourself as much as you can. Read, study, and improve your skills related to the areas of focus you want to master. Be a career student and know that you can always get better.

I also like to tell people that relationships will become your most important asset. In many ways, achieving your goals is less about how you did it than who you did it with. If you’re in a class, look to your left and right because chances are these will be the people you will be working with and encountering in years to come. It’s important to value and improve yourself, but in the end, it will be about the people around you whom you serve and help because those relationships will ultimately determine how far you go. I have been fortunate to learn from some of the most successful people I’ve encountered that folks at the top are typically generous people who never stop valuing the relationships that got them there.

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GLADIATOR

Warriors Series

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HOSPITALITY

Increasing Human Connection An Interview with Tommy Southworth, President, Southworth EDITORS’ NOTE Tommy Southworth and country clubs – live on. We firmly first worked for Southworth believe that the work we do benefits Development as a cart boy at not only our members, but also the Willowbend Country Club, at age broader society by encouraging and 14. His many childhood roles for enriching discourse, togetherness, and the company included gr eensbasic human connection. Bringing this keeper, bartender, pool manager, mission to life is the fun part. From our and banquet set-up. Later, he development strategies to our innovaworked in project capacities at tive operations and service, from our both Machrihanish Dunes and The marketing to the values that we set Abaco Club. Southworth received and reinforce through our member his AB from Harvard College before selection (and member discipline), Tommy Southworth joining Needham & Company as we are obsessively intentional about an Investment Banking Analyst, fostering positive human connection. ultimately becoming a Vice President. He then Our offerings have also evolved over the joined Blue Star Innovation Partners, a start- years. We’ve refocused our efforts on innovation up private equity firm, as a founding Partner, in the form of sustainability, philanthropy, a shift before returning to Southworth as CFO, and ulti- to an experience-first mentality, and much more. mately President.

We have codified our founding principles and belief system into a member code of conduct – COMPANY BRIEF Southworth (southworthclubs.com) The Southworth Way – that is unique in the develops, owns and operates luxury club commu- industry, serving to foster positive relationships, nities. Located in Boston, Southworth currently encourage togetherness, and allow each member owns and operates private clubs and residen- and employee to feel welcomed, recognized, tial communities across North America, the and valued.

Caribbean, and Europe.

The goal is to create exceptional and impactful communities for all members across the Will you highlight the history of Southworth Southworth portfolio. My absolute favorite KPI is and how you define the company’s mission? the number of weddings (2) across second generaSouthworth is a privately held life- tion members (our members’ children, who met style company founded in 1991 that specializes at our clubs). Another sign of our impact, not in the development and management of luxury to be morbid, is the many times we have been private clubs and highly amenitized and mentioned in our members’ obituaries. Our club programmed residential communities. We first communities are key threads in the tapestries of developed a community called Willowbend our members’ lives. on Cape Cod. The owner back then was Paul We’re thrilled to be embarking on a new Fireman, Chairman and CEO of Reebok, who chapter of the company with our recent launched Willowbend as both a passion project announcement of about $475 million worth of and a mission-driven club aimed at modern- reinvestments over the next five years into the izing some of golf’s stuffy and discriminatory majority of Southworth’s current global porttraditions. We are proud to have honored a folio. These updates are already underway or legacy of inclusivity – at exclusive clubs – ever completed at several clubs and include nearly since. $75 million in new amenities added across the Three decades and a few dozen proj- portfolio over the next five years and another estiects later, we remain a mission-driven orga- mated $400 million in residential development. nization. Our mission today is to increase How do you describe Southworth’s culture human connection – in club communities that and how important has it been to maintain a are uniquely warm, inspiring, and engaging. family feel as the company has grown in size Sociologists note that the “decline of the American and scale? community” – the disappearance of civic organiThis is one of my favorite questions. I’ve had zations, churches, fraternal organizations, etc. – the incredible and unique opportunity to watch has led to less positive engagement, especially my father run the company alongside Joe Deitch when paired with the proliferation of technology. (father of my childhood friend, Matt Deitch) Meanwhile, clubs – and particularly golf clubs for many years, so stepping into this new role 176 LEADERS

holds a lot of weight for me – and I mean that in the best way possible. Maintaining a “family first” approach is crucial to us and that’s why our new vision for Southworth further emphasizes our foundational principles rooted in inclusion, community, family and, of course, fun.

Another core and differentiating element of the Southworth DNA is that we develop, own and operate our communities for the long haul – we don’t build and run. Many of us at the leadership level of Southworth, myself included, actually have homes in our communities and spend our most precious family time there.

Because of this real first-hand experience and the desire to put down roots in these communities as active members and residents, we are always striving for ways to improve and enhance our club operations. More importantly, we have the long-term interests of the community in mind.

Thinking on 20-30+ year timelines and considering all stakeholders – homeowners, members, employees, and the local community – forces us to maintain a family feel, in the best of ways.

Will you pr ovide an overview of Southworth’s existing portfolio?

While Southworth executive offices are headquartered in Boston, we currently own and operate private clubs and residential communities across North America, the Caribbean and Europe.

We have Willowbend; Renaissance on Boston’s North Shore; Meredith Bay on New Hampshire’s Lake Winnipesaukee; Creighton Farms outside Middleburg, Virginia; Machrihanish Dunes in Argyll, Scotland; and The Abaco Club, located on Great Abaco Island in The Bahamas.

One of our newest and most exciting development projects right now is The Cays at The Abaco Club. Designed by world-renowned design firm, AvroKO, this new neighborhood will open phase one in Summer 2024. We announced the addition of 36 beachfront villa residences in November 2021 and we’re thrilled to see the first phase completed in the coming year. This development marks the next chapter for the club’s coveted private beachfront, and includes the addition of a beachfront club amenity, aptly named The Winding Bay Beach Club. A sophisticated and authentically Bahamian sanctuary of beachfront living, The Cays is set to redefine barefoot luxury – from the architecture to the amenities – with master planning and landscape

by Vita, Inc. and interiors by visionary design firm, AvroKO. Vita, Inc. is known for developing unforgettable environments capable of

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The Abaco Club, located on Great Abaco Island in The Bahamas

immersing owners and guests in the authentic culture and beauty of their surroundings.

Where do you see the greatest opportunities for growth for Southworth?

Across our existing portfolio, there is exciting growth in store relating to our reciprocity program and corporate concierge services. A side benefit to long-term ownership and management of our clubs is the ability to offer limited access to the entire Southworth portfolio to members at all communities. We have recently launched a concierge layer aimed at enhancing this program – and offering additional member services – and look forward to bridging connections across the Southworth platform – from Scotland to The Bahamas.

As we look to the future, there are many exciting opportunities for growth. We fundamentally exist at the intersection of luxury private residential communities and extraordinary clubs – we are a hybrid development and hospitality company. As we look ahead many years and follow global trends, there are a wealth of opportunities to iterate on our historically golfcentric model. Where will future generations look to build their communities – to make their connections? We have lots of fun ideas in store.

How important has it been to build the Southworth team?

One of my first lessons in leadership was to surround myself with folks smarter than me – and with people I want to spend time with.

Our team is extraordinary – from our longeststanding employees (some have been with us since the very beginning!) to everyone hired along the way. Over the past several years we have added to the team significantly, with an eye towards evolving our brand and positioning for growth. Alongside my counterpart, Managing Principal Matt Deitch, we appointed an Executive Leadership team to help execute our vision, and they are rock stars.

We’ve also created several new roles that truly speak to Southworth’s updated ethos and brand. For example, Eleanor Brown has been brought on board as the Director of Sustainability, overseeing sustainability initiatives for the entirety of Southworth. Additionally, James Dunn has the VOLUME 47, NUMBER 1

role of Director of Member Experience, focusing on the “experience-first” mentality of Southworth, always exceeding expectations with unique member programming, activations, and amenities.

What do you see as Southworth’s responsibility to be engaged in the communities it serves and resides in?

This has been a major area of focus for us over the past several years, and I’m thrilled to see some of the progress we’ve made. Our version of “sustainability” – informed very much by the aforementioned Eleanor Brown – is as much about supporting the local community as it is the environment. We believe they go hand in hand.

In 2022, for example, we launched a philanthropy initiative called Willowbend Gives – a “giving circle” that has contributed nearly $200,000 to 10 local causes. Most importantly, it has connected us to local organizations and changemakers. Our members are incredibly philanthropic, but often their efforts are focused on their primary communities. We are thrilled to educate our members on the many incredible opportunities to give back to their second and third communities – and the members have embraced this with passion. In addition to the grants we’ve made, we’ve hosted multiple well-attended volunteer days for our members.

This platform – alongside a corporate giving initiative – is being replicated across our portfolio.

Every year we launch new efforts aimed at supporting our local communities. This year’s efforts were focused on fostering youth sports (particularly golf), promoting local vendors at various pop-up events, and highlighting the efforts of local chefs.

On the environmental side, we engage through protection of biodiversity in these local communities and make conscious decisions to reduce any possible negative impact. At Willowbend and Creighton Farms, we promote growth of native plants that support local and migratory wildlife that may be losing habitat elsewhere, such as milkweed for monarch butterflies and housing for resident hawks, bald eagles and osprey. At Renaissance, we are working with a Boston-based company on rebuilding honeybee colonies – honeybees are critical to the human

food chain, pollinating 75 percent of our crops.

And at The Abaco Club, we actively protect the habitat and nesting areas of our beautiful club icon, The Abaco Parrot, as well as restoring endangered coral reef in partnership with the Perry Institute for Marine Science and their Reef Rescue Network to create our very own Winding Bay Coral Nursery.

This is just a handful of examples of what our dedicated team does on a daily basis to responsibly engage with the communities where we reside.

How do you focus your efforts leading Southworth and how do you describe your management style?

One of my favorite parts of my job is the multi-faceted nature of it – I am constantly jumping from the realm of hospitality (service, vibe) to development (business development, master planning) to sales and marketing (brand partnerships, prospect engagement). It can also be inefficient though – I constantly remind myself to work on the business, not in the business.

My best days involve a combination of organizational design, management of our talented executive team, and long-term strategy.

As for management style – I’ve never liked that question. It reminds me that I do have a very specific style (I’m a “Persuader,” according to Predictive Index) – and that can be a weakness. I think the best managers have many styles in their toolbox.

What are your priorities for Southworth as you look to the future?

My mandate is to build a company that’s big, profitable and fun – it’s a great job. From year-to-year I define those mandates a bit differently. As I look ahead to 2024: • Big: Strategically grow and develop our brand in new and sought-after destinations around the world.

• Profitable: Grow the organization efficiently and effectively, ensuring that we build repeatable and scalable processes.

• Fun: Twofold: 1) Continue driving innovation in ways that enhance our member experience; and 2) Ensure that our corporate culture is as strong as ever.

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Authentic Jamaican Hospitality An Interview with Olivia Morrow, Co-Owner and Director of Sales and Marketing U.K., Jamaica Inn EDITORS’ NOTE Olivia Morrow is a traveled to Jamaica to investigate co-owner of the beautiful familyentrepreneurial opportunities in the owned, award-winning, Jamaica tourism industry. The glam Hollywood Inn in Ocho Rios, Jamaica. The set had recently discovered the island, 52-key hotel opened its doors in the and rumor had it, this was the start 1950s and has been mastering the of something big. They discovered a art of combining discreet privacy with property with huge potential next to heartfelt personalized service for more the famous Doctor’s Cave Beach. The than 65 years. Morrow grew up at the Montego Beach Hotel opened in 1950, Jamaica Inn, but officially joined and Frank’s son, Charles Morrow, the team in early 2022 as Director along with his childhood best friend, of Sales and Marketing for the U.K. Matthew “Archie” Archibald, arrived to Olivia Morrow Based between London and Jamaica, run the hotel as business partners. she works to bring the next generation In 1958, after buying several other of concepts and innovation to the renowned hotels that also became very successful, Charles Jamaica Inn. Since she joined the team, Jamaica and Archie learned about a lovely property for Inn has been awarded #1 Best Sustainable Spa at sale in Ocho Rios. After touring the hotel and the Marie Claire Awards, Top 10 Caribbean Hotel seeing its spectacular location, they bought what at the Conde Nast Traveler Readers’ Choice Awards, was to become the Jamaica Inn we have today.

Top 10 Resort in the Caribbean at Travel + Leisure’s The Inn quickly became the main hotel owned 2023 World’s Best Awards, Top 40 Caribbean hotel by the Morrow family and soon thereafter, they in The Sunday Times, listed as an “Icon” in the sold their other properties and focused on the Harper’s Bazaar Travel Guide, and named one elegant Ocho Rios resort. of the best beach escapes in the annual Tatler Spa Jamaica Inn quickly became the destination Guide and Tatler Travel Guide. for the ’50s jet setters, with Hollywood aristocracy

and British nobility flocking to its shores. Errol Flynn, Noël Coward, Sean Connery, Vivan Leigh, Marilyn Monroe, Arthur Miller, Ian Fleming and Oliver Messel were among the storied guests. Sir Winston Churchill famously frequented the inn and was especially partial to Suite 21. Through the years, Jamaica Inn has also played host to several international heads of state and Jamaican prime ministers.

The Morrow-Archibald team continued to run the hotel successfully when Charles Morrow’s sons, Peter (my uncle) and Eric (my father), came on board in 1981.

After Charles’ passing in 1987, my Uncle Peter and my father, Eric, took the helm. In early 2000, after acquiring the North Bend property, Peter and Eric started adding the cottages with infinity pools.

A beautiful open-air spa was also built.

Today, the Morrow family legend continues as my sister, Eloise, and I (fourth generation hoteliers) work hand-in-hand with my parents, Eric and Belinda. I joined the team in early 2022 as the Director of Sales and Marketing for the U.K. and Europe. My mother, Belinda, is also involved and has been instrumental in founding the White

PROPERTY BRIEF As soon as guests enter the Jamaica Inn (jamaicainn.com) in Ocho Rios, Jamaica, they are sure to feel the Old Hollywood meets colonial charm at a 65-year-old, family-run resort where Ian Fleming famously frequented the bar, Marilyn Monroe and Arthur Miller honeymooned, and Meghan Markle celebrated her (first) wedding. The Morrow family has mastered the art of combining discreet privacy with heartfelt personalized service. Spr ead over eight acres, with a 700-foot private white sand beach considered to be one of the best in the Caribbean, Jamaica Inn has 52 finely furnished suites and cottages, all with sea views, including seven secluded cottages with large verandahs, sea access, and plunge pools. Jamaica Inn boasts three culinary venues: the Sea Shanty, Teddy’s Beach Bar & Grill, and Terrace Restaurant, serving traditional Jamaican meals and wood-fired pizzas, complete with daily drink specials and live music. Guests are also invited to experience the healing touch of nature at the property’s Ocean Spa, set within the cliffs of Cutlass Bay, with treatments drawn from plants on the Island.

Will you highlight the history of Jamaica Inn? In 1948, the Morrow brothers, Frank and Bob (my great granfather and his brother), 178 LEADERS

Jamaica Inn

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Premier Verandah Suite

River Fish Sanctuary, looking after the hotel gift shop, as well as the beautifully manicured grounds. She also manages her family farm, The Colliery, which is located in the hills of St. Ann, about ten minutes from the hotel.

Will you provide an overview of the property and how Jamaica Inn is positioned in the market?

Set within a secluded, sandy cove, the 52-room boutique hotel has mastered the art of combining discreet privacy with heartfelt personalized service. Exuding the warmth of Caribbean hospitality paired with the quiet luxury that makes the hotel so unique in the market today, Jamaica Inn has managed to remain true to its history while keeping relevant in the ever-changing hospitality landscape.

What have been the keys to Jamaica Inn’s strength and leadership in Jamaica?

Our guests appreciate the way Jamaica Inn embraces the essence of serenity, sophistication & simplicity coupled with the authentic & warm Jamaican service we deliver. Our style of hospitality is not for every traveler – we are not flashy, we have none of the new technology and never have or will have TV’s in our rooms, but what we do have is a hospitality that is genuine and authentic. Our all-Jamaican team are more like a family, with several members of the staff being part of the team for over five decades. The love for the hotel is evident within the team and that leads to happy and long-standing guests.

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How has Jamaica Inn approached its restaurant/food and beverage offerings?

Food and travel are so synonymous these days – people now travel somewhere just to eat.

Luckily, Jamaica is the place to go for foodies, with our delicious spices and unique local dishes abundant. At Jamaica Inn, our food is “international” but all with a Jamaican twist, weaving in the flavors of the island. Our new Teddy’s Grill, set on the beach, is a wood-fired grill that serves up local and international dishes cooked over local Pimento Wood which gives off a wonderful warm and smoky taste. On Friday’s, our guests can accompany our Head Chef to the local farmers’ market to peruse yams, Scotch Bonnet chilies, and mangos. Afterwards, he demonstrates how to cook ackee and saltfish – Jamaica’s national dish – with light, fluffy Johnny cakes. Also, our cocktail list certainly has a rum focus, with some of the classics thrown in. The signature drink is our famous Planters Punch, a strong but refreshing take on the Rum Punch with the addition of nutmeg and local spices. We serve this complimentary on our beach every day at 11:00 AM. For those who prefer an alcohol-free option, a firm favorite is our fresh fruit punch, a blended drink using local and seasonal fruits.

Will you highlight Ocean Spa and the emphasis that the spa has placed on sustainability?

Jamaica is an island abundant with medicinal plants, fruits, and spices. We knew that we needed to harness these restorative elements within our Ocean Spa treatments and provide a truly authentic Jamaican experience. Before each treatment, the

spa attendant will mix his or her choice of spices, herbs, coffee, sugar, etc., all locally sourced in our garden and bespoke to the client. This removes the use of packaged/plastic products and is truly a farm to skin experience. The Ocean Spa is set on the edge of a cliff overlooking the sea, so the treatment rooms are open in the front to let the beautiful Caribbean breeze through, removing the need for air conditioning.

Will you discuss Jamaica Inn’s focus on offering personalized service and a customized guest experience?

We believe that wonderful service transforms a guest experience. The Jamaica Inn team is our biggest asset and is what sets us apart in the hospitality space. Many of our team members have been with us for more than 20 years, with the longest standing team member at 55 years. With that in mind, we ensure that our team strikes a balance of providing exceptional service for our guests coupled with authentic Jamaican warmth. Our team gets to know our guests, many of whom stay with us year after year, and anticipate our guests’ needs. We like to be on the front foot. That could be anything from remembering their preferred seat on the terrace, their favorite cocktail, the type of flowers they like in their room, or making sure we have a fresh cold coconut ready for them at the beach in the morning. With a hotel as small as ours, a guest’s experience can be completely bespoke – we love to make every trip memorable, and that is mainly because of our dedicated team.

How do you focus your efforts leading Jamaica Inn? Since coming on board in early 2022, I chose to focus my efforts on several smaller projects. For a hotel like ours, which has been around for so long (65 years), change does not come quickly or without its challenges, so I initially kept my focus on items that were tangible. Updating our branding was where I started first. I wanted to streamline our assets internally throughout the hotel, but also across the full guest experience, so our website and booking platform. I also worked with our Chef on developing our new restaurant – Teddy’s Grill, which serves lunch and dinner on the beach. It was exciting to help create a new menu and style for this space that is much loved by our guests. I have also been working with our U.K./European sales and PR teams to target a younger demographic of travelers who appreciate the quiet luxury vibe we have at Jamaica Inn. What advice do you offer to young people interested in building a career in the hospitality industry?

Hospitality is best learnt through experience.

That can be work experience such as working in a restaurant or different departments within a hotel, or simply by getting out and seeing what hospitality businesses are doing well – traveling when you can, and soaking in the details of a space that has mastered their version of what they do, and noting how you can apply that to your own journey or business. It is also an eagerness to learn, and willingness to do the jobs that aren’t always glamorous.

That’s really how you learn the ins and outs of a hotel. I remember my dad always told me that if you don’t know how to do the job yourself, how can you expect to know when someone you work with isn’t doing the job correctly.

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Creating Experiences An Interview with Jonathan Knudsen, Chief Executive Officer, Concrete Hospitality Group EDITORS’ NOTE Jonathan Knudsen’s What have been the keys to expertise is founded on strong busithe success of Concrete Hospitality ness acumen, budget and forecast Group and how do you define the pr eparation and management, Concrete Hospitality difference? profit and loss critiquing, and hotel Our recipe for success is to management. Growing up in New combine the creation of a differenYork, Knudsen’s passion for hospitiated product with delivering attentive tality was rooted in a line of familyand friendly service and anticipating owned and operated establishments. guest needs. We believe this leads to Knowing he wanted to make this his customer satisfaction and a sustained life’s work, he enrolled in Johnson & level of loyalty. For our hotel partWales University, earning a double ners, we deploy a strategically flexJonathan Knudsen degree in restaurant management ible approach – which therein lies and hospitality management with a another key pillar of success to date. concentration in entrepreneurship. Knudsen has Operating as an extension of a hotel’s team, extensive industry experience bringing projects to CHG is able to create additional value through market with hotel openings, concept development its food and beverage offerings. We bring an and execution. Groomed by global hospitality industry expertise that a hotel property would leader Starwood Hotels & Resorts, he led multiple not otherwise have, including our integration of teams from Southern California to the Caribbean marketing, activations, programming, and strato New York City before joining boutique hotel tegic partnerships. pioneer Morgans Hotel Group as an executive operWhere do you see growth opportuniational leader directing the renovation and oper- ties for Concrete Hospitality Group? ation of the iconic Hudson Hotel New York and its We’re lucky to have a presence in an regional portfolio of New York City properties. industry that’s ever-changing and evolving – creatively, operationally, etc. We built Concrete COMPANY BRIEF Concrete Hospitality Group’s (concretehg.com) core business is operational development, management, owner representation and conceptual consultancy across various hospitality verticals; hotels, restaurants, resorts, and membership driven clubs. Its methodology delivers a long-term sustainable model for owners, guests and employees.

How do you define Concrete Hospitality Group’s purpose and mission?

Concrete Hospitality’s mission is simple, to lay the foundation for the future of hospitality. Our purpose is to create experiences worth paying for, which are experiences you cannot recreate yourself. Concrete Hospitality Group also passionately believes in the power of “brand” through storytelling.

Will you provide an overview of Concrete Hospitality Group’s capabilities?

Concrete Hospitality Group’s core model is developing unique and exciting food and beverage concepts for hotel partners. Additionally, the Group has developed a list of award-winning independent hotels, bringing those boutique properties to market. Secondary services include consulting, owner representation and project management across various hospitality verticals from hotels and restaurants to member driven clubs.

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Hospitality Group with the mission of laying the foundation for the future of our industry, hence the name Concrete. We see this “future” in many forms, such as employee connection, supporting employee growth – not just within hospitality – genuine care and concern, transparency and enhanced communication. The future also includes embracing artificial intelligence and the tools that AI provides, so that should not be overlooked. The growth opportunities are aligned with the consistent expansion of new and existing hotel properties and an evergrowing expectation from guests for unique and exciting food and beverage experiences.

How important has it been to build the Concrete Hospitality Group team?

Extremely important. Myself, along with our co-founder and COO Josh Pendley, made a very intentional decision to set out with the mindset of building a hospitality company where people actually mattered, and the measure of success was not just financially motivated, but rather creating a company where people could come work and feel good about their decision, where work-life balances were actually encouraged, where time-off was respected, our

Recreation at Moxy NYC Downtown

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individualities were respected and celebrated, and we collectively embraced a common vision of mission and purpose. In total, our portfolio employs over 350 talented associates and is growing daily.

Did you always know that you had an entrepreneurial spirit?

Yes, and my upbringing is a large part of that. I grew up outside New York City and my passion for hospitality is rooted in a line of family-owned and operated establishments.

Knowing I wanted my life’s work to revolve around hospitality, I dedicated my education to this focus – earning a double degree in restaurant management and hospitality management at Johnson & Wales University, with a concentration in entrepreneurship. From there, I had the opportunity to build a solid foundation of extensive industry experience spending over a

decade at the property and above-property levels for Starwood Hotels & Resorts and then boutique pioneer, Morgans Hotel Group, before venturing out independently to create Concrete Hospitality Group.

What has made the hospitality industry so special for you?

I was fortunate to realize at a young age that joy in my life came from witnessing the joy of others. It wasn’t until later in life that I realized this exact feeling was in essence hospitality at its core.

My passion continued and so naturally I chose for this to be my life’s work. This is when I developed the phrase “experiences worth paying for are those you cannot recreate yourself” which would later become the purpose for what is now Concrete Hospitality Group. On top of that I now get to shape the future through my own organization and share with others the simple beauty of hospitality.

What are your priorities for Concrete Hospitality Group as you look to the future?

My priorities for Concrete Hospitality Group are to continue offering a place to work where people can share in the simple joys of life. I want to give people the opportunity to make a comfortable living, to be proud of what they are doing, to learn, to grow, to educate, and to help people reach their potential, whether that is a long career with Concrete Hospitality, or just a stepping stone to reach some other goal in life. We are a business, however, and businesses need to make money in order to survive, so that is not lost on us, and we ensure that message is delivered with clarity and transparency as well. But our priority is not to be the biggest – it’s to be the best.

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Royalton Park Avenue rooftop pool (top left); Rooftop Terrace (top right): Ivy Bar (bottom left); an Ivy cocktail (bottom right) VOLUME 47, NUMBER 1

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WORLD’S BEST SUITES

The Peninsula Chicago The Peninsula Suite For nearly a century, The Peninsula Hotels has been a brand committed to providing personalized, attentive service, amid exceptional, well-appointed settings. The Peninsula Chicago’s (peninsula.com/chicago) newly redesigned Peninsula Suite takes this commitment further with a private residentially inspired experience boasting 3,600 square feet of living space and a private 2,000 square foot wraparound terrace overlooking Lake Michigan. The expansive suite, which can be extended from one to three bedrooms, taking an entire wing of the building, can accommodate today’s most discerning travelers by ensuring their safety and privacy, thanks to an array of unique inclusive services including a dedicated housekeeping and guest relations team.

private dressing rooms. The design scheme showcases many tones of blue, in a nod to the waters of Lake Michigan and the Chicago River, both iconic to locals and visitors alike. A large living room features a grand piano, fireplace and large picture windows and glass doors leading to the outdoor terrace. The hand painted gold walls in the dining room create a stimulating environment and a beautiful backdrop to the living space. Custom-made Bubinga wood furnishings are found throughout the suite in the den and study, as well as in the bedroom and dressing areas.

Overseeing the redesign of The Peninsula Suite was Maria Zec, The Peninsula Chicago’s Managing Director and Regional Vice President, who joined the hotel in 2002, shortly after its opening. Under her leadership, the hotel has received many accolades, including the AAA Five Diamond and Forbes Five Star services awards for 21 years in a row.

The redesign of The Peninsula Suite reveals a modern, contemporary style, including updating the suite’s technology, expanding the master bedroom, and converting the former study and fitness rooms into two distinct and spacious

The Peninsula Hotels maintains a deep commitment to the arts, and this is carried through to the collection in The Peninsula Suite. The art, originally curated for The Peninsula Suite 23 years ago, has been repositioned throughout the new setting, providing a fresh perspective on each piece. The hotel commissioned three artistic details – representing different florals – to bring more nature into the suite. Additionally, two works of art were purchased from a local Chicago artist, Mariano Chavez.

The Peninsula Suite represents what The Peninsula Hotel Chicago is known for – the opportunity for guests to experience Far Eastern graciousness combined with Midwestern hospitality.

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WORLD’S BEST SUITES

Four Seasons Hotel Washington, DC Royal Suite

Located at the entrance of Georgetown, steps from world-leading institutions and historic monuments, Four Seasons Hotel Washington, DC (fourseasons.com/washington) is located at the crossroads of DC’s social and political hubs. Four Seasons Hotel Washington, DC is a timeless luxury experience where the tenured staff leverage a legacy of intuitive hospitality for highprofile guests, including global leaders and captains of industry. Guests will experience modern luxuries at one of the top private fitness clubs and spas in DC and a culinary destination with Michelin-starred chef Michael Mina.

Four Seasons Hotel Washington, DC offers some of the most soughtafter suites found anywhere in the world, including the Royal Suite for guests who demand the best. Contemporary yet elegant, with hints of artdeco style, the exclusive Royal Suite allows guests to host unforgettable evenings on a private terrace overlooking 29th Street, work out in privacy with a personal exercise room, and unwind in the free-standing oval bathtub or, depending on your style, the fully stocked media room.

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WORLD’S BEST SUITES

The Colonnade: Contemporary Luxury In Boston’s Back Bay The Colonnade (colonnadehotel.com) has redefined the essence of urban stays. From an exhilarating rooftop pool with lounge to a lobby coffee cafe to a full-service fitness center, the property is constantly challenging the standard of what a Boston hotel should be. Guests will discover an enchanting Boston neighborhood vibe that offers insight into urban living with the convenience of access to nearby Boston attractions and a bustling shopping district.

Sleek, modern, and artistic suites at The Colonnade offer an inside view to an iconic urban stay. From stunning views of the Prudential Center

through floor-to-ceiling windows, defining the Boston skyline to its unique location in Back Bay, The Colonnade’s suites boast the ultimate standard of lifestyle relaxation. Guests can spread out with separate living spaces where you can enjoy a cocktail from your very own wet bar before enjoying a dinner at a local restaurant where you’ll discover flavorful dishes. However you decide to spend your days and nights at The Colonnade, you can be sure that you’ll be greeted with an indulgent and rejuvenating experience.

Each of the property’s unique suites offer unmatched features that you’re unlikely to find in other Boston hotel suites.

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Luxury Suite (above and bottom left) and Parlor Suite (bottom right)

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WORLD’S BEST SUITES

Hard Rock Hotel New York The Rock Star Suite Hard Rock Hotel New York (hardrockhotels.com/new-york), located between the Theater District and Radio City Music Hall, offers extraordinary entertainment venues in the heart of Times Square, 446 guestrooms and suites across 36 floors, and innovative dining. Guests can experience the world’s most iconic skyline from RT60 Rooftop Bar & Lounge, while being steps away from Broadway, Rockefeller Center and Fifth Avenue shopping.

The property offers The Rock Star Suite, a sky high, bi-level penthouse with original artwork and music memorabilia from some of the world’s greatest performers. With double-height floor-to-ceiling windows, the suite offers an open-plan living and dining space with bar and butler pantry that leads out to a 1,600 square feet terrace furnished with day beds, lounge seating, and an outdoor bar. Guests enjoy VIP access to RT60 Rooftop Bar & Lounge via the private entrance and, after the last set winds down, they can retreat to their second-floor bedroom and soak in the city lights from the freestanding tub.

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WORLD’S BEST SUITES

Sandals Resorts And Beaches Resorts Sandals Resorts (sandals.com) offers the most-awarded luxury allinclusive vacation experience in the Caribbean. With 18 beachfront settings in Jamaica, Antigua, Saint Lucia, The Bahamas, Barbados, Grenada, Curaçao, and Saint Vincent and The Grenadines, each resort reflects the design, cuisine, and unique essence of its island home. From butler service and gourmet dining to top-shelf liquor and luxurious suites, Sandals Resorts is notorious for pioneering innovations that constantly evolve and elevate the all-inclusive vacation experience, while staying true to its Caribbean roots.

Beaches Resorts (beaches.com) is the ultimate all-inclusive playground, where memories are created and made to last. With three spectacular locations in Turks & Caicos and Jamaica, Beaches Resorts is the perfect beachfront getaway for every member of the family. Kids can hang with the Sesame Street gang as part of the Caribbean Adventures with Sesame Street®, splash in outrageous waterparks and enjoy the XBOX® Play Lounges, exclusive Kids Camps and teen nightclubs, while parents indulge in butler service, luxurious spa treatments, gourmet restaurants and more.

Awa Seaside Butler Bungalows and Kurason Island Poolside Butler Bungalows at Sandals Royal Curaçao

The Coyaba Sky Villa Swim-Up Rondoval Suites at Sandals Dunn’s River

Offering unmatched views of the Ocho Rios skyscape, the Coyaba Sky Villa Swim-Up Rondoval Suites reinvent the state of romance and luxury with private soaking tubs, a sun-lounging area, direct access to a sprawling river pool and privileged views of the surrounding flora.

Sandals’ iconic standalone villas were reimagined with vast open-air rooftops complete with state-of-the-art telescopes and Sandals’ first Stargazing Concierge - a complimentary new Butler service offering.

Beyond creating a romantic respite under the stars, the Stargazing Concierge will also help guests identify constellations and meteor activity in the Caribbean sky.

Tufa Terrace SkyPool Butler Suites at Sandals Dunn’s River

With its admirable west-facing position on 44 beachfront acres within a 3,000 acre preserve, Sandals Royal Curaçao captures the allure of one of the Caribbean’s most spectacular sunsets. With 351 luxurious rooms and suites, the resort has more all-inclusive luxury options than ever before, including two new signature suite categories, the Awa Seaside Butler Bungalows and Kurason Island Poolside Butler Bungalows. Nestled alongside the coast, the Awa Seaside Butler Bungalows offer endless sea views and their own private infinity pool overlooking the Spanish Water while the Kurason Island Poolside Butler Bungalows are arranged in Sandals’ iconic heart formation around a semi-private pool and lush, man-made island. These suites come complete with Tranquility Soaking Tubs, private pools, butler service, and sporty and stylish convertible MINI Coopers complimentary for guests to drive while exploring the island.

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Taking luxury to new heights, the brand-new Tufa SkyPool Butler Suites feature glass panels spanning the length of oceanfront balconies, giving a cascading infinity effect clear to the Caribbean Sea, a first in Jamaica.

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Firesky Reserve Villas at Beaches Negril

The family-focused Beaches Negril has added 12 new and expansive butler suites to its iconic Jamaican location. The new additions consist of six all-new Firesky Reserve Villas, nestled right on the beach on the northern end of the resort and inspired by the destination’s captivating technicolor sunsets, each offering an expansive four bedrooms spanning three stories and an unprecedented 3,700 square feet. Well-appointed living areas, stylish kitchens, private oceanfront plunge pools and rooftop decks with dining terraces give way to views of the Caribbean Sea, with Firesky Reserve Villas accommodating up to 10 guests and perfect for large families looking to foster deeper moments of connection.

Sandals Resorts’ Overwater Villas

The very first in the Caribbean, Sandals’ Overwater Villas, located in Jamaica at Sandals South Coast and Sandals Royal Caribbean, and in St. Lucia at Sandals Grande Saint Lucian, are among Sandals’ most alluring accommodations and include sea-through glass floors for the best view of what’s happening in the marine world, king-size beds for ultimate comfort, and spa-inspired bathrooms. With chic furnishings inside, the attention to detail sets the tone for romance, complemented by hardwood floors, vaulted ceilings, and lots more. Guests enjoy a private patio with its own extended sun deck, as well as an outdoor shower, sun loungers, and private outdoor Tranquility Soaking Tub for two. Guests checking into these suites receive Sandals’ Butler Elite service and 24-hour room service.

Eventide Penthouse Collection at Beaches Negril

Coming Soon: Vincy Overwater Two-Story Villas at Sandals Saint Vincent and The Grenadines

Comprising six suites, the Eventide Penthouse Collection gives nod to the calm waters and the minimal change in tides along the beach – ranging from three to four bedrooms each and accommodating up to 18 with access to a rooftop terrace ideal for stargazing and soaking in the soothing breeze. Spacious kitchens and thoughtfully designed living areas indoors give way to expansive balconies, walkout terraces and the horizon beyond.

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Opening in March 2024, Sandals Saint Vincent and The Grenadines will offer 301 superbly appointed rooms and the portfolio’s most expansive suites to date, with the Vincy Overwater Two-Story Villas reimagining Sandals’ iconic suites yet again. An evolved design across two stories, they are built directly atop the sea, complete with a rooftop outdoor lounge with views as far as the eye can see.

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WINE & SPIRITS LEADERS

A Wonder Of Nature And Time An Interview with Baptiste Loiseau, Cellar Master, LOUIS XIII What is the history of LOUIS XIII Cognac RARE CASK collection?

The legacy of LOUIS XIII Cognac RARE CASK collection begins as a journey through time and terroir. Each limited edition represents a unique moment in LOUIS XIII’s history, and an exceptionally rare occurrence in the life of a LOUIS XIII Cellar Master. The uncovering of a RARE CASK happens when a LOUIS XIII Cellar Master carefully identifies a particular tierçon (traditional wooden barrel) with a standout aromatic profile. This discovery is followed by attention and intuition, with the eaux-de-vie watched over and tasted through their ageing until they reach their fullest aromatic potential. A singular RARE CASK tierçon highlights a distinct expression and showcases the savoir-faire and intuition of the LOUIS XIII Cellar Master.

These exceptional releases celebrate LOUIS XIII Cognac’s commitment to preserving and perpetuating heritage, magnifying characteristics of LOUIS XIII organoleptic profile along with remaining different from anything LOUIS XIII has or will likely ever release again.

RARE CASK 43.8 was released in 2009 by previous Cellar Master Pierrette Trichet, and RARE CASK 42.6 in 2013. For the third time in history, in an unexpected departure from the ordinary passage of time, RARE CASK 42.1 has been made available globally.

Will you highlight LOUIS XIII Cognac’s RARE CASK 42.1?

RARE CASK 42.1 is the ultimate expression of LOUIS XIII Cognac, and one that I carry close to my heart. RARE CASK 42.1 was

Baptiste Loiseau

EDITORS’ NOTE Baptiste Loiseau became the LOUIS XIII Cellar Master in 2014. Just age 34 at the time of his appointment, he became the youngest ever Cellar Master of LOUIS XIII. Growing up in the Cognac region, Loiseau has had a respect and understanding of the complex nature of cognac from a young age.

He originally studied agronomy, the science of soil, with plans to specialize in winemaking in Bordeaux. Fate eventually led him back to his hometown where he joined Maison Rémy Martin in 2007.

CELLAR BRIEF Time is at the heart of LOUIS XIII (us.louisxiii-cognac.com). The raw materials and each decanter represent the life achievement of generations of Cellar Masters who rely on the mastery of their predecessors and successors to preserve the taste of LOUIS XIII throughout time.

Created in 1874, LOUIS XIII is one of the world’s most prestigious cognac brands. It is made from a blend of up to 1,200 individual eaux-de-vie, using grapes grown in Grande Champagne, encased in a unique decanter.

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Pierrette Trichet and Baptiste Loiseau at work in the winery (above); Louis XIII RARE CASK 42.1 (top)

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“The legacy of LOUIS XIII Cognac RARE CASK collection begins as a journey through time and terroir. Each limited edition represents a unique moment in LOUIS XIII’s history, and an exceptionally rare occurrence in the life of a LOUIS XIII Cellar Master.” discovered from a single tierçon that stood out for its exceptional qualities. This RARE CASK highlights the uniqueness of our craft, through a distinct organoleptic profile and a unique 42.1 percent ABV – unlike anything released from LOUIS XIII before. RARE CASK 42.1 is a wonder of nature and time – one that is so unique and special to offer only 775 (the precise number of decanters this tierçon produced) globally – and I’m thrilled to have led to its discovery.

How did you know that the timing was right for LOUIS XIII Cognac RARE CASK 42.1?

The decision to release RARE CASK 42.1 is a result of both intuition and savoir-faire.

As the Cellar Master, it’s essential to closely watch over the aging of our eaux-de-vie.

When I sensed that this particular cask had fully reached its aromatic expression, I knew the timing was right. It’s a delicate balance between patience and intuition, and RARE CASK 42.1 represents a moment when everything aligned perfectly.

What can people expect when tasting LOUIS XIII Cognac RARE CASK 42.1?

Tasting RARE CASK 42.1 is a journey of the senses. You can expect an extremely

LOUIS XIII Cellar Master Baptiste Loiseau (above); Louis XIII RARE CASK 42.1 (top) VOLUME 47, NUMBER 1

refined and harmonious cognac, with a rich and complex aromatic profile. RARE CASK 42.1 offers a symphony of flavors, including notes of dried roses, honey, leather, and a remarkable freshness with hints of exotic notes on the palate. The finish is remarkably long, leaving behind exceptional notes and an unforgettable experience on one’s palate.

How do LOUIS XIII Cognac RARE CASK limited editions reflect the emotions and feelings of the Cellar Master?

These releases reflect generations of cellar master’s passion and dedication to the heritage of LOUIS XIII. They symbolize the intimate connection between the past, the present, and the future – for generations to come.

What does LOUIS XIII Cognac’s RARE CASK 42.1 mean to you?

RARE CASK 42.1 holds a special place in my heart. It represents the culmination of years of craftsmanship. To me, it is a symbol of the relentless commitment to excellence and the joy of uncovering exceptional eaux-de-vie that have matured to their utmost potential. It is a true testament to the legacy of LOUIS XIII, the constellation of men and women who have perpetually revealed the gifts of time and of our terroir.

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WINE & SPIRITS LEADERS

Synchronicity, Inspiration, And Soul An Interview with Ellie Anest, Co-Founder and Chief Executive Officer, Eleven Eleven Winery EDITORS’ NOTE Ellie Anest grew up What was the vision for creating in Nebraska on a working farm. At Eleven Eleven Winery and how do age 20, Anest moved to San Diego you define its mission? where she attended San Diego State In 2012, my business partner and University and earned a BA degree close friend, Carol Vassiliadis, and I in sociology and accounting. While embarked on an exciting entrepreneurial there, she became involved in philanventure within the luxury real estate thropy through the local Gr eek realm. Our original plan was to create community, and soon met Carol a high-end vacation rental portfolio, but Vassiliadis. Over time, they cultivated as we surveyed various locations, we a deep friendship that ultimately led found ourselves drawn towards the stunto their partnership and the creation ning wine country of Napa Valley. Not Ellie Anest of Eleven Eleven Winery. Before only was it an area to which I personally founding Eleven Eleven, Anest built a felt connected, but it was a well-known broad resume working with Fortune 500 compa- destination for tourists from all over the globe and nies, mid-size firms and small businesses alike. She at that time, it felt as though it was a place we were began her career at KPMG, providing accounting meant to be. and finance support for her clients, followed by During our search, destiny led us to discover numerous years at the Taco Bell Corporation on a truly remarkable property in the Oak Knoll AVA, both business planning and marketing teams. Anest surrounded by a breathtaking 3.5-acre vineyard. has always had an entrepreneurial spirit, and for It was an unexpected surprise that filled us with approximately seven years she owned and oper- excitement, inspiration, and passion, leading to the ated Anest Financial Solutions where she provided start of a journey in wine that was never part of a variety of business consulting services for small the original plan. to mid-size companies. Prior to starting the winery, Although we initially didn’t aim to purchase Anest worked at RGP, a publicly traded professional any vineyards, the allure of this captivating propservices firm, where she built a client base focusing erty quickly changed our course. We saw a unique on business solutions for various industries. When not working at the winery, Anest offers her time and resources to the Philoptochos Organization, a philanthropic extension of the Greek Orthodox Church.

Anest is a supporter of the Queen of the Valley Foundation, Festival Napa Valley, Napa Valley Film Festival, V Foundation, and National Ability Center, among other nonprofit organizations.

WINERY BRIEF The name Eleven Eleven (elevenelevenwines.com) represents meant-to-be moments that embody synchronicity, inspiration, and soul. Eleven Eleven wines and its journey embody these elements that celebrate the everyday moments that make life extraordinary. The time 11:11 symbolizes a perfectly balanced moment on the clock, making the winery’s name a positively perfect choice. Whether a single-vineyard and singlevarietal wine, or a Bordeaux blend, there is never a lack of attention to detail to bottle an artful expression and deliver upon Eleven Eleven’s promise. The modern design of the winery’s space is inspired by art, culture, music, and community. This is reflected throughout the winery’s private indoor/outdoor areas with sweeping vineyard views. The winery’s unique location near downtown Napa provides both an urban oasis and traditional vineyard experience.

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opportunity to create something truly special, harnessing the full potential of this Cabernet vineyard that would lead us down a path of passion and fulfillment.

As we immersed ourselves in the beauty of the vineyard, we realized the immense potential it held, particularly for crafting exceptional Cabernet wines, and that potential was confirmed and put to great use when we had the privilege of meeting Kirk Venge. Kirk encapsulates the spirit of an extraordinary winemaker, bringing his immense talent and expertise to our endeavor. From that consequential meeting, we were welcomed into the vibrant community of dedicated growers and passionate wine enthusiasts that make Napa Valley so remarkable and helped grow Eleven Eleven to what it is all these years later.

Eleven Eleven represents those special moments in life that feel like fate, where everything aligns perfectly. It symbolizes synchronicity, inspiration, and soul. Our wine and the journey we’ve embarked on embody these elements, honoring the everyday moments that make life extraordinary.

We are truly grateful for the serendipitous discovery that led us to this place, and the remarkable people who have become an integral part of our journey and community of inspiration and friendship.

Eleven Eleven Winery

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Eleven Eleven Winery’s tasting room

Will you provide an overview of Eleven Eleven’s offerings?

While it’s common for small producers to have limited variety offerings, Eleven Eleven breaks this norm through its uniquely expansive portfolio of 14 total varieties. All of our wines are singlevineyard, single-varietal wines, focusing on the quality and nuances of our distinct vineyards. The limited production winery’s various estate vineyards in Oak Knoll District AVA and select vineyard designates in Sonoma Coast feature diverse microclimates that provide ideal conditions for the cultivation of many types of grapes, thereby yielding multiple different varieties for the winemaking team to expertly craft into their own.

What can guests expect to experience when visiting Eleven Eleven Winery?

Eleven Eleven was built on the foundation of the Greek term “Parea,” which represents the collective strength of friends coming together. This concept, inspired by my Greek heritage, has truly come to life at Eleven Eleven, and it has been an incredible honor to build. Fueled by this belief, guests can expect to discover and be a part of a bigger piece of a community when they visit Eleven Eleven. We wanted to create a space where visitors could gather and exchange philosophies, values, and ideas.

We do this through shared experiences and bringing high-quality wines directly to consumers, driving their discovery, exploration, and enjoyment of Eleven Eleven’s diverse portfolio. Open daily from 10:00 AM to 4:00 PM by appointment only, Eleven Eleven offers privately hosted tastings of current Signature and Estate wine portfolios. Tastings are offered in the winery’s sophisticated tasting room, outside on its zen patio, or in one of its more intimate spaces located throughout the winery estate.

What have been the keys to the strength and leadership of Eleven Eleven in the industry?

Keys to the strength and leadership of Eleven Eleven in the industry are multifaceted. My business and corporate background has played a vital VOLUME 47, NUMBER 1

role in my success in helping me understand how to effectively build and manage teams by ensuring their talents are in the right positions. I have also learned the importance of letting go when faced with challenges, whether it be a flawed process, underperforming individuals, or a project that isn’t going as planned. Additionally, I have developed resilience by learning from my mistakes and picking myself up after setbacks.

Another important key to the leadership of Eleven Eleven is the skill, expertise, and kindness of the legendary Kirk Venge. Working alongside Kirk is like attending a masterclass in winemaking, as his undeniable and eloquent passion for sharing his knowledge is truly inspiring. Kirk introduced me to different winemaking techniques and taught me the importance of sourcing grapes from Napa Valley and Sonoma County’s finest vineyards, which has been essential in the leadership and success of Eleven Eleven. Kirk’s passion and knowledge among the vines combined with my business expertise has resulted in an excellent leadership team excelling Eleven Eleven within the industry.

Eleven Eleven wouldn’t be what it is without our experienced and passionate team – from the tasting room to the vines, all of whom have been active participants in the Napa Valley wine community for years now. Each member has been vital to our growth as a winery and valued members of our “Parea.”

Will you discuss Eleven Eleven Winery’s commitments to sustainability?

The wine industry can have a significant environmental footprint due to factors like water usage, chemical inputs, and carbon emissions. Climate change also poses risks to vineyards, affecting grape quality and production. These are all factors that Eleven Eleven is aware of and actively looking to combat.

Eleven Eleven is committed to following organic viticulture practices, to ensure its wines are the purest reflection of each unique property they come from, and is currently working towards its Napa Green Certification. We also source from vineyards following the same philosophy of using responsible farming practices.

Did you always know you had an entrepreneurial spirit and desire to build your own business?

Growing up, my family and I lived in a small town where we owned a farm in Nebraska. My mother, who was an immigrant from Corinth, Greece, and my father, a first-generation Greek American, taught me the value of hard work, integrity, and resilience. We grew crops and tended to cattle on our farm, and I vividly remember observing my father’s unwavering commitment to the land throughout various seasons. Seeing firsthand the rewards of hands-on labor and persistence instilled in me a profound appreciation for hard work and dedication. These experiences played a significant role in shaping my work ethic and my commitment to excellence.

After university, I entered into the corporate finance world with companies including KPMG, YUM Brands – Taco Bell Corporate, and RGP. From there, I went on to start my own consulting practice. Due to my family’s innate hardworking nature and my constant curiosity to learn and grow, I naturally fell into the category of “entrepreneur.”

As a consultant and business owner, I learned so much by doing. I didn’t always have the industry experience, but I had solid business expertise from working with many clients. I used logic and resources to provide value. This is the basis of an entrepreneurial ethic, and it’s why starting a winery – something else I knew nothing about – didn’t scare me. I knew I could learn it and create something successful that highlights and celebrates my values and ethos.

Where did your passion for wine develop and what has made the industry special for you?

I had a rather unconventional entry into wine.

Due to my corporate background and entrepreneurial spirit, I was always looking for other ways to enhance my business and personal branding through a variety of business ventures.

My yearning for a new entrepreneurial opportunity has led me to one of the greatest journeys of my life thus far, opening and operating Eleven Eleven Winery. Although it seems like I fell into the industry, the planning and understanding of the property and vineyard was nothing short of hard work and passion.

This unexpected turn of events – from the property, to the vineyard, to Kirk – ignited our enthusiasm and sealed our commitment to crafting exceptional wines. The beauty of the land, the richness of the vineyard, and the camaraderie within the Napa Valley wine community inspired us to bring forth wines that would stand as a testament to our shared passion.

More than a decade later, Eleven Eleven has indeed succeeded and is recognized as a modern treasure of an urban winery, bringing a fresh approach to the culture of luxury wine among the more traditional Napa Valley estates. As we continue on this journey, we remain devoted to nurturing the potential of this vineyard, embodying the spirit of the vine and bringing forth wines that evoke joy and awe which has been the most special experience within the industry.

And it doesn’t hurt to love the product that you make.

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WINE & SPIRITS LEADERS

Staying Ahead Of The Curve An Interview with Luis Gonzalez, Chief Executive Officer, Old Elk Distillery EDITORS’ NOTE As CEO of Old Elk Distillery, Luis Gonzalez is responsible for company visions, growth and planning initiatives, and developing distribution and brand strategies. With over a decade of leadership experience, he is proficient at building strategic customer relationships and driving profitable brand expansion. Prior to his current role, Gonzalez spent seven years with Otter Products in various sales and marketing leadership roles.

rigid approach. We believe that almost anything is possible if you are willing to put the time in and focus on the things that the consumer is looking for.

It’s not just about what you want, it’s about what the voice of the customer is saying. We believe first and foremost that our employees and consumers are the most important.

Additionally, listening to the voice of the customer plays into our incredible distribution relationships. Our Luis Gonzalez distributors have come to find that we do exactly what we say we are going DISTILLERY BRIEF At Old Elk Distillery (oldelk.com) to do day in and day out. This builds confiin Fort Collins, Colorado, craft is everything. dence within the distribution network that the Founded by serial entrepreneur, Curt Richardson, right plans are being built and executed against the innovator who created OtterBox and Blue which brings success to everyone involved. We Ocean Enterprises, Old Elk Distillery creates its have an incredible focus on operational execuown process for spirits. Aside from their signa- tion and excellence which allows us to have a ture bourbon, they put the same amount of very competitive time to market. passion and enthusiasm into the other prodAt Old Elk, we have been very intentional ucts in their portfolio: Dry Town Gin is soaked about not chasing things or success. We have for 18 hours and then vapor extracted; Nooku stayed focused on building a plan for providing Bourbon Cream uses real dairy; and PB&W: what the business and consumers are looking Peanut Butter Flavored Whiskey is made with for and by staying focused on working on real peanut extract. that plan, the results will follow. If you chase numbers, behavior will change and that can Will you highlight the history of Old Elk be a dangerous thing. Our very disciplined but and how the brand has evolved? non-rigid approach fosters the mindset of being Old Elk was founded by Curt Richardson in available to our fan base and consumers.

2013, stemming from a passion to build legacy How critical is it for Old Elk to continue brands and make innovative, quality products. to innovate and where is innovation taking Curt had an interest in creating a portfolio of place for the brand? products with unique mash bills. Old Elk then Innovation is important for Old Elk worked with Greg Metze to create custom mash because it helps our brand stay relevant within bills for their products and the brand contract the whiskey industry and with its consumer distilled thousands of barrels of multiple mash base. It’s important to stay ahead of the curve of bills to rest and age. Greg joined the Old Elk trends within the whiskey industry and to adapt team in 2017 as Master Distiller and created the those trends within your products if they are brand’s Signature High-Malt Bourbon that was to be successful. Master Distiller Greg Metze’s released in 2018. work in creating custom mash bills within our Today, Old Elk is available nationwide and whiskies helps to create unique and stand-out has been given a number of prestigious awards products for our brand. Additionally, Production in various spirits competitions. Both Greg and Manager Melinda Maddox’s work with our cask Production Manager, Melinda Maddox, continue finishing whiskies has led to using various to innovate and raise the bar within our whis- unique types of spirits barrels to finish our prodkies by creating products within the brand’s ucts like with our Rum Cask Finish Rye and various ranges.

Cigar Cut Island Blend.

What have been the keys to Old Elk’s Innovation from an internal perspective strength and growth in the industry? keeps our mindset in a challenged state and not Some key strengths for Old Elk are that we a state of complacency. It keeps our employees have an incredible culture and discipline in the motivated and provides a platform for the team key functions of the business without having a to work together. From an external perspective, 194 LEADERS

it promotes the skillset and focus of listening to the voice of the customer, which is the reason why we do what we do at Old Elk. It also gives us the platform to be able to innovate, but to innovate with a purpose which brings an opportunity to educate and excite the customer base.

Will you provide an overview of Old Elk’s offerings?

Old Elk produces wheat, bourbon, and rye whiskies that all contain custom mash bills that were created by Master Distiller Greg Metze.

There are four ranges of whiskies at Old Elk.

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• Core Lineup: Signature High-Malt Bourbon, Straight Wheat Whiskey, Wheated Bourbon, Straight Rye Whiskey • Master’s Blend Series: Infinity Blend, Four-Grain Straight Bourbon, Double Wheat Straight Whiskey, Wheat N’ Rye • Cask Finish Series: Cognac Cask Finish Bourbon, Port Cask Finish Bourbon, Rum Cask Finish Rye Whiskey • Specialty Whiskies: Sour Mash Bourbon, Cigar Cut, Cigar Cut Island Blend, 10-Year Wheat Whiskey, 8-Year Wheat Whiskey How do you define the Old Elk difference and what sets the brand apart in the bourbon space?

What makes Old Elk different is that we do not cut corners on the quality of our whiskies, especially with the fact that each one has a custom mash bill that Greg has developed. Old Elk’s vision is to make the highest quality products at the same scale as large companies, with the heart and soul only a small company could attain. We believe in building value and relationships with our customers that allows them to continue to purchase our whiskies and tell their friends and family about us. Additionally, at Old Elk, we always do what we say we are going to do and never settle for anything less than what we know we can achieve within our products.

Additionally, we are focused on our people first and foremost at Old Elk. Our appetite for success and connection to our consumer base is important. Our very disciplined but non-rigid approach fosters the mindset of being available VOLUME 47, NUMBER 1

to our fan base and consumers. We have an incredible focus on operational execution and excellence which allows us to have a very competitive time to market.

What has allowed you to offer a highquality, premium product at an accessible price?

At Old Elk, we focus on “sanity” vs “vanity.”

What that means to me is that we focus on things that add value to our consumers and make sure that the dollars that add cost to the business are dollars that are translating to quality and consistency. We also believe in using the very best grains, barrels, and local water in Colorado to produce our award-winning whiskies that are up to our team’s high standards. We don’t believe in cutting corners and understand that producing a quality whiskey takes time, as indicated with our Slow Cut Proofing Process.

It’s important to have a premium whiskey at an accessible price, because that’s what gets the everyday consumer to buy your products and recommend them to friends and family.

This is where our core lineup comes into play that offers four unique whiskies and gives the consumer options based on their preferences.

Ultimately, we want consumers to stay loyal to Old Elk for life, so the quality of your products and price point are key to that.

What are your views on ef fective leadership and how do you describe your management style?

To be an effective leader, you need to have confidence in the decisions you make for the company. It’s also important to build trust within your team and create a safe working environment where employees can come to you with questions or issues and confidently know that you are invested and able and willing to help no matter what the task may be.

Also, spending time with team members to get to know them is critical and finding ways to get involved with their work and what is important to them as an individual. Servant leadership is also important, and I embody a selfless approach to both business and leadership, because no one’s time here is more valuable than anyone else’s. When we wake up, we just have a different focus and responsibility within the business that we are collectively working to make a great, successful business.

Within my leadership style, I believe that it’s one thing having the right people on the bus, it’s another thing having them in the right seat. This means that as a leader of a team, you need to find out what skills and passions each employee has and use that information to guide them in the best roles/positions for the success of the overall team. Additionally, when mistakes are made, it’s important to fall forward and figure out what we learned. We don’t want to fall victim to paralysis by analysis. This means that we should not be worried about the mistakes and errors that can sometimes occur in a business. We focus on learning from situations and failing, but failing forward for the future. Don’t let mistakes eat you up, just learn from them and move on. Fear will overcome talent every day, so it’s important to me that the team feels no fear and can be their best selves day in and day out and challenge themselves to be great.

What are your priorities for Old Elk as you look to the future?

My priorities for Old Elk in the future are to continue to grow the brand and have it become a household name that our customers can connect with. We want to focus on growing the on-premise business so that consumers across the country have the ability to try our product line. Additionally, we want to continue to challenge ourselves to make the right investments to support the overall growth of our business.

Also, we want to continue to push innovation within the whiskey industry and with the products we offer at Old Elk that continue to bring education and excitement to the industry. It’s important to continue to put our customers first. At the end of the day, we are here to provide a whiskey that people are proud to consume and are connected to far beyond the bottle.

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WINE & SPIRITS LEADERS

A Quality Producer Of Fine Burgundy Wines An Interview with Thomas Seiter, President, Maison Louis Jadot EDITORS’ NOTE Thomas Seiter became President of Maison Louis Jadot on January 1, 2023. He succeeded Pierre-Henry Gagey who had held the role for 31 years. Seiter has more than 25 years of experience working in the wine industry, most recently as the CEO of Bouchard Père et Fils in Burgundy. With this appointment, Seiter returns to his roots in Gevrey-Chambertin.

wine business but, more specifically, it is the same foundational elements that have the wine business in Burgundy. While allowed us to remain an industry leader for all houses are different, there are simi- so long. The key word here is balance since larities in the business model and it’s essential to understand the history of the thanks to my time at Bouchard, I have brand and region while still having open eyes the clarity to see the things that can on trends and industry dynamics. The highest be improved and the experience to respect we owe to customers and our partners understand what makes Louis Jadot is to respect our DNA. As business stewards, we unique. I feel I can make improve- must identify and clarify the brand’s vision and ments while still keeping the brand’s image while staying true to our core. We must DNA and exceptional quality. respect who we are, and if we do it correctly, How important is it for Louis we will continue to please our customers.

Thomas Seiter WINERY BRIEF Maison Louis Jadot Jadot to balance tradition with Will you discuss your approach to (louisjadot.com) is one of the most modern market dynamics in the transforming the brand’s awareness into trusted and revered wine houses in Burgundy’s wine industry? an enduring reputation by aligning the Côte d’Or. The Louis Jadot team balances tradiSimply speaking, it is crucial. The balance brand more seamlessly with its venerable tion and technology, focusing on the purest between tradition and modern market trends is Maison de Burgundy heritage? expression of each wine’s terroir. Founded in vital because if you are too focused on tradiThat is the challenge, really. Louis Jadot 1859, Maison Louis Jadot now owns 528 acres of tion, you become stuck. At the same time, you has amazing awareness thanks to its fantastic vineyards, including 280 acres of the Côte d’Or’s cannot forget your history and heritage. Louis distribution. Everyone knows and recognizes most prestigious Premier and Grand Cru plots.

Jadot, in many ways, still produces wine the the name Louis Jadot. It’s my goal to transform same as our ancestors. While we have a deeper that recognition into reputation, which comes Will you provide an overview of the history understanding of the process and technology, through a clear and consistent brand image. and heritage of Maison Louis Jadot?

Maison Louis Jadot was established in 1859

by Louis Henry Denis Jadot in Beaune, where it flourished and grew into the prestigious and revered wine house in Burgundy’s Côte d’Or. Having settled in Beaune, the center of Burgundy, Louis Jadot established itself as a historic house with the breadth to produce quality appellations from Villages to Premier and Grand Cru. Today, Louis Jadot remains a family-owned business – and has been for generations. It is still one of the few remaining independent and family-owned wine houses in the region.

What interested you in the opportunity to lead Louis Jadot and made you feel it was the right fit?

If you are being offered the opportunity to lead a house like Louis Jadot, you must consider it. Its history, heritage, and prominence in the Burgundy wine industry made this an impossible opportunity to turn away from. After one year in my position, I am confident it is the right fit because I can bring a new perspective alongside great reverence for the brand. I understand Burgundy because I have a historical connection to the area. I grew up in Gevrey-Chambertin and ran another storied Burgundy house, Bouchard Père e Fils, for more than six years. I have lived the Burgundy experience and underMaison Louis Jadot vineyards in the Burgundy region of France stand many of the complexities of not only the 196 LEADERS

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Our commitment to quality and deeply rooted history demands the highest respect, and we need to be proud of sharing that history with our customers. It is our priority to establish and communicate a clear brand image and consistent message to our customers.

What is your outlook on strengthening Louis Jadot’s position as the premier producer of quality wines in Burgundy?

It is about the perception of the brand.

Louis Jadot is, at its core, a quality producer of fine Burgundy wines, and we are the maker of the #1 selling French red and white wine in America. It already exists in our brand DNA that Louis Jadot is the premier producer of wine in the region. Still, it’s our duty to impress that upon our audience and reestablish that brand identity so that we can reach younger audiences and continue to elevate the brand for years to come. We must look ahead to the future and think about where Louis Jadot will be in 10 years. We need to reinforce this image to be stronger, but we must first be clear about who Louis Jadot is, what it is that we want to do, and understand which strategies to enact to get there. We must respect who we are, and if we do it correctly, we will continue our industry leadership.

Will you highlight Louis Jadot’s commitment to sustainability?

Louis Jadot has always been concerned about sustainability and the environment.

While it’s compulsory to be a certified organic grower and producer in Burgundy today, we have focused on this area long before it was mandated. It’s our priority to produce quality wines at every appellation, so managing the vineyards responsibly is essential. We pay close

attention to our vineyards and enact strategies to avoid using harsh chemicals where possible.

Aside from our certified organic status, Louis Jadot has taken steps to be a responsible producer in all stages of production. We are certified High Environmental Value (HVE3 in France), which applies to the production process, including waste management, energy consumption and more. Since my tenure here, we have been actively looking to enhance sustainable practices. I have even created a new position – sustainability manager – to oversee the quality and sustainability of the brand. Looking ahead, we are exploring the possibility of lowering the weight of bottles to reduce our environmental impact throughout the process, in addition to other practices that are too early to discuss.

What is the current state of the wine industry in France?

It’s a bit broad. Some regions face more difficulties than others due to slowing retail sales and the competition for entry-level markets.

Bordeaux, specifically, is going through a difficult time globally regarding production. However, some other regions are still thriving; Champagne, for example, is still producing high amounts of product and seeing growth. That said, the premier wine industry is currently strong, even as entry levels are seeing slowing purchases. Burgundy is still doing well and adjusting its production capacity to match market demand.

The industry, overall, faces a challenge breaking ground with younger audiences and entry-level drinkers. We need to understand what the new generation is looking for and who they are. This will let us know how to talk to them without sacrificing our brand’s vision and

Maison Louis Jadot wine tanks (above) and barrels (top right) VOLUME 47, NUMBER 1

responsibility to produce quality wine under appellation. We need to evaluate and discuss current trends with our brand DNA and reach this younger audience in ways that are ownable and authentic.

What attracted you to a career in the wine industry, and what has made the industry so special for you?

My passion for wine initially attracted me since I grew up in wine-producing regions, and my father was keen on wines, too. When I graduated from university, I had an opportunity at Moët Hennessy to work in cognac, which I jumped at since it was close to wine production.

I then moved to the wine division and have stayed in the industry ever since. I started there by choice and stayed because I had amazing opportunities to work with great producers.

It’s an excellent industry to work in, especially when you have experiences with quality producers who have products with history and tradition. Throughout my career, I have felt I have a responsibility as a brand steward to maintain that reputation, and it is an exciting challenge.

One of the things I find most extraordinary and inspiring about our industry is that we rely on nature. This is why it is so crucial for us to act responsibly. No matter how much planning we do, we depend on a harvest. It all comes together to keep us humble. We try to create the best quality wines for the appellation, thanks to what Mother Nature gives us. Even more humbling is that the world has changed so much with the introduction of new-world wines. Today, you can meet people from all over the world who are creating excellent quality wines. The diversity of people you can meet in the industry has developed so much, and these meetings make the work so great and exciting.

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The Distinctiveness Of Douro Wines An Interview with Jorge Rosas, Chief Executive Officer, Ramos Pinto EDITORS’ NOTE Jorge Rosas joined the commercial department of the House of Ramos Pinto in 1986.

Having worked for three years in France, Belgium, and the United Kingdom, he returned to Porto in 1996 to take over as wine export director at the House of Ramos Pinto. In 2014, he became director while his cousin, João Nicolau de Almeida, was still managing director. When the latter retired in 2016, Rosas took over at the helm of this famous House, a responsibility that he continues to hold to this day.

The heritage of Ramos Pinto is displayed in our two museums. The first, located at our headquarters in Vila Nova de Gaia, features an extensive collection of advertising posters and memorabilia from the late 19th century to the early 20th century. The second, situated in Quinta de Ervamoira, highlights the region’s Roman ruins and the renowned Palaeolithic engravings that played a crucial role in preventing the disappearance of this estate.

Jorge Rosas In the quest for excellence, Ramos Pinto is independently run to this day, which enables the House to conduct continuous technical and technological research, combining WINERY BRIEF Founded in 1880 by brothers traditional winemaking practices with a forwardA d r i a n o a n d A n t o n i o , R a m o s P i n t o ’ s looking approach. (ramospinto.pt/en) history has been marked by Our long-term dedication to our vineyards, a balance between innovation and respect for and our Douro wines and Ports, is passed down tradition. In addition to producing wines of from one generation to the next. This respect exceptional quality, the House is known for and insight are key in producing high-quality, its knowledge of terroir and for its pioneering internationally renowned wines. Concerning our viticulture. Through its strict production policy, Port wines, we are now blending wines passed the selection of the best Douro grape varieties, down by several generations and crafting new and the systematic technical and technological wines for generations to come. research, the House is positioned as the reference for the production of superior quality wines in Portugal. In 1990, Ramos Pinto was acquired

by Maison Louis Roederer. Today, descendants of the founders carry on the heritage of producing extraordinary ports and still wines. Ramos Pinto has four estates in the Douro Valley: Quinta do Bom Retiro and Vinha da Urtiga, located in Cima Corgo, as well as Quinta dos Bons Ares and Quinta de Ervamoira, in the Douro Superior.

These four Quintas cover an area of 890 acres.

Will you discuss the history and heritage of Ramos Pinto?

Ramos Pinto, founded by my greatgrandfather and his brother in 1880, has a rich history and heritage marked by a balance between innovation and a deep respect for tradition. The House has played a significant role in the production and selection of high-quality Portuguese grapes, showcasing a profound understanding of the natural environment in which Ports are produced and pioneering the launch of DOC. Douro wines worldwide. This initiative not only highlights Ramos Pinto’s willingness to explore new avenues, but also demonstrates its dedication to promoting the distinctiveness of Douro wines on the international stage.

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Will you provide an overview of Ramos Pinto’s offerings?

Ramos Pinto provides a selection of Port and Douro wines. Port wines are known for their wide variety of different styles – White, Tawny and Ruby – which differ in color, aromas, vinification, and ageing process, and have remarkable quality and longevity. Multiple decisions influence the style of the Port wine, beginning with the selection of the initial blend, as well as the size and the type of wood used for ageing.

In 1990, the integration of the House into the Roederer Group propelled forward a project that began with viticultural research in 1976: the creation of the Ramos Pinto red and white still wines. This was a long adventure that offered some of the most well-known Douro wines, including the brand Duas Quintas.

More recently and for the first time in our long history, we released two new DOC Douro wines: Quinta de Ervamoira, which is produced with grapes from the best plots of this property, and Urtiga, which is made with grapes from a century-old vineyard. With these two releases we entered a new era of Douro wines, as we delve into the distinctive terroir of Ramos Pinto.

Ramos Pinto cellar

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Will you highlight Ramos Pinto winery and what guests can experience when visiting the winery?

The Ramos Pinto winery offers a unique and immersive experience for visitors, bringing together the passion for the Douro region, its wine culture, and the company’s rich history. Ramos Pinto owns four estates: Quinta do Bom Retiro and Quinta da Urtiga, in the heart of the region, as well as Quinta dos Bons Ares and Quinta de Ervamoira, in the Douro Superior. The opportunity to visit and explore the estates owned by Ramos Pinto in the Douro region allows visitors to witness the diverse terroirs that contribute to the unique character of Ramos Pinto wines. Visitors can engage in wine tasting sessions, experiencing the distinct flavors and characteristics of Ramos Pinto wines. The winery offers a variety of world class wines from both Porto and Douro that capture the essence of Ramos Pinto’s passion for winemaking and the unique character of its properties in the Douro Valley.

There are also two museums: Casa Adriano Ramos Pinto Museum, located in Vila Nova de Gaia, is a tribute to the company’s historical background, its exceptional wines, and its pioneering contributions, particularly in the realm of Port wine marketing; and Sítio de Ervamoira Museum, the local museum at Quinta de Ervamoira, located in the Côa Valley (UNESCO World Heritage Site), provides guests with valuable information about the region. It not only explores the winemaking heritage, but also highlights the significance of Palaeolithic engravings.

What have been the keys to the consistent strength and leadership of Ramos Pinto in the industry?

Ramos Pinto’s enduring strength and leadership in the wine sector can be attributed to a combination of strategic decisions and a commitment to innovation. The adoption of its own production policy has given the winery greater control over the winemaking process, ensuring consistently high quality starting from grape cultivation all the way to bottling and ageing.

The winery’s dedication to research, exemplified by the pioneering work of José António Rosas and João Nicolau de Almeida, has played a crucial role. Their technical study of Douro grape varieties resulted in the selection of the best suited varieties for both Port and Douro wines, today widely adopted by all producers in the Douro Valley. Additionally, the introduction of the partially mechanized vertical plantation method by Ramos Pinto in the Douro Valley demonstrated a forwardthinking approach to vineyard management. This has contributed to the production of high-quality grapes not only at Ramos Pinto, but also up and down the Douro and Port appellations.

The winery’s expertise in addressing challenges posed by extr eme climates, particularly in the Douro Superior region, is evident in its study on irrigation. The development of rational irrigation methods highlights adaptability and foresight, ensuring the resilience of Ramos Pinto’s vineyards.

These elements collectively contribute to the winery’s enduring success and influence in the Port and Douro wine trade.

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Quinta do Bom Retiro, one of Ramos Pinto’s four estates in the Douro region of Portugal

Will you discuss Ramos Pinto’s commitment to sustainability?

Ramos Pinto demonstrates a str ong commitment to sustainability through various initiatives aimed at improving its bond with nature and minimizing environmental impact.

Some key aspects of Ramos Pinto’s sustainability commitments include: Organic Farming: Ramos Pinto is actively engaged in implementing organic farming practices. This commitment involves cultivating grapes without the use of herbicides or fertilizers that could harm the environment.

The house currently has 62 acres of organic vineyards and 9 acres with biodynamic practices. Our organic goals, totaling 620 acres, include: • Ervamoira – 370 acres (starting in 2024, with the goal of certification in 2027) • Bons Ares – 61 acres (starting in 2026, with the goal of certification in 2029) • Bom Retiro + Urtiga – 193 acres (starting in 2028, with the goal of certification in 2031) Biodiversity Enhancement: The winery is focused on increasing biodiversity within its vineyards, which is essential for maintaining natural pest control and overall ecological resilience. By actively promoting biodiversity, Ramos Pinto contributes to the long-term sustainability of its vineyard ecosystems.

Herbicide free since 2010: A notable milestone in Ramos Pinto’s sustainability journey is the decision to cease the use of herbicides in 2010.

Avoiding herbicides helps improve soil health, preventing water contamination, and contributing to a healthier overall vineyard environment.

Medium/long-term goal of carbon neutrality: We are currently in the process of measuring our carbon emissions with the goal of reaching carbon neutrality. During the next year, we will set out multiple initiatives and key results which will kick-start this process.

Did you always know you had a passion for the wine and spirits industry and what has made the industry special for you?

I spent a large part of my childhood and adolescence in the middle of vineyards and wineries but, at that time, I didn’t realize that I had a great passion for the Douro Valley and its wines. It was only when I spent a few years living in the Champagne region that I realized the magnificence of the wines and the region I grew up in.

Wine has powerful connections to places and cultures setting it apart from other industries.

Living in this environment and having the chance to produce internationally recognized wines for their quality, enjoyed by consumers in all corners of the world, is a privilege and a great pleasure.

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EDITORS’ CHOICE

Woodlands Spa And Salon At Nemacolin

Fireside Lounge (top right); indoor pool, salon, yoga and meditation (above - left to right); fitness center, facial, massage (below - left to right)

From transformative, cutting-edge signature therapies and traditional, holistic practices to pure, unadulterated luxury spa treatments, guests of the Woodlands Spa and Salon at Nemacolin (nemacolin.com) define what self-care and wellness mean to them, and then discover unique offerings and special services they won’t find anywhere else to relax, rejuvenate, and indulge.

Woodlands Spa and Salon provides forty treatment rooms, a full-service salon, a skillful and attentive staff, a diverse range of treatments, and services that soothe the mind, body, and spirit.

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Spa Treatments – whether guests are seeking ultimate relaxation, rejuvenation, or simply to be pampered to perfection, the talented staff will seamlessly guide them through their wellness journeys. Woodlands Spa and Salon offers Signature Spa Specialties such as Five Elements Journey, embracing the delicate harmony between the five earth elements – wood, fire, earth, metal, and water; Ritual Facial, a five-phase, full-body balancing treatment; and Biologique Recherche, personalized, all-natural skincare products and state-of-the-art facial technologies.

The Salon – a Woodlands Manicure or Pedicure will reveal smoother, more supple skin with a seasonal scrub, mask and nourishing hydrating massage. Gentlemen can enjoy a pedicure, too, with a light soak, professional nail maintenance, and an application of a butter rum sugar scrub, followed by a peat mineral mask. Service concludes with a relaxing cinnamon sugar and shea butter foot massage and a light nail buff.

Woodlands Spa and Salon facilities include a fourlane indoor lap pool – heated to 84 degrees year-round – steam and sauna rooms, as well as locker rooms.

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Volcan de mi Tierra Tequila, 40% Alc./Vol. ©2023 Imported by Moët Hennessy USA, Inc., New York, NY

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