Bankers Lunch, Laud Diversity

Representatives from 12 different banks came to the 5th annual Women and Minorities on Wall Street Luncheon Friday to emphasize their commitment to diversity as the fall on-campus recruiting season picks up.

The event, sponsored by the student group Aspiring Minority Business Leaders & Entrepreneurs (AMBLE), also recognized the achievements of Christopher J. Williams who founded and runs The Williams Capital Group, L.P., an investment bank, and Williams Capital Management, LLC.

“Each person has certain dreams, goals, and ambitions, don’t let anyone tell you that you can’t, but any decision you make, go in with your eyes wide open,” Williams told the group as he received the Achievement Award.

Williams advised the 80 students in attendance that entrepreneurship includes high risks and high rewards, and that one needs, “a certain confidence in self to pursue what you want. However, no success negates the fact that failure isn’t a possibility.”

“Williams takes entrepreneurial risks, and has formed a way that we can follow,” said Michael Beal ’06, the co-president of AMBLE, as he presented the award.

The event’s scheduled keynote speaker, Edith W. Cooper ’83, the co-head of North American Hedge Fund Sales at Goldman Sachs, pulled out just before the event. In her place, Lance LeVergne ’84, the head of Goldman Sachs diversity recruiting effort, addressed the group.

“Help us help you,” LaVergne said, adding that the strong efforts of the Wall Street firms in attendance to recruit diverse applicants can only be successful if top talent from within diverse groups is responsive.

LaVergne also spoke about the issue of ceilings for minorities and why some businesses feel that diversity recruiting can undermine success if people are hired simply because of certain characteristics.

The luncheon included the Achievement Award, a keynote speaker, a recruitment panel, and a career fair.

During the panel, the investment bankers discussed choosing their occupations based on their Type A personalities, and the ability to meet interesting people and make money.

Each panelist also stated that their company is committed to diversity recruiting, though no decisions can be made based on ethnicity or race, and urged women to connect with other women in business.

“Wall Street is not as diverse as it should be, but it’s a lot better than before,” said Rachel Gravelin, a panelist and investment banker at Bank of America (BOA). “I have never been discriminated against, but women need to make sure to keep in contact and network with other women. You need to manage your career whether male or female through connections.”

Before lunch, students mingled with recruiters during the career fair and picked up free water bottles, decks of cards, and highlighters.

Victor O. Amoo ’05, a former AMBLE president who is now working as an analyst on Wall Street, reflected on his experience with the club in college.

“AMBLE helped me shape and solidify my future,” said Amoo, who now works at BOA.

The donations from Wall Street firms in attendance paid for the luncheon and for AMBLE projects throughout the year, in addition to supporting a group to help the victims of Hurricane Katrina.

“We’re happy to kick-off the fall recruiting process,” said Marin Kim ’06, a member of the AMBLE Board of Directors. “This is a great movement for women and minorities. We’re on the cusp of change and debunking myths of Wall Street.”

Samson F. Ayele ’09, who attended the event after hearing about it from a friend, said that LaVergne was one of the best speakers he had ever heard.

“I was really impressed with speaker Lance LaVergne and the representation of the most prestigious bulge bracket banks.”

The banks sponsoring the event were Goldman Sachs, Credit Suisse First Boston, UBS, BOA, Lehman Brothers, Wachovia, Citigroup, JPMorgan, Lazard, Merrill Lynch, and Morgan Stanley.

—Staff writer Jane V. Evans can be reached at jvevans@fas.harvard.edu.