You were known for creating a certain atmosphere at work. You
would buy milkshakes for everyone. That’s not really a corporate
approach.No, not at all, or it’s done in a very
frozen way. I always felt we were lucky to have those people working for us. A
lot of our brokers could have gone elsewhere and made tons and tons of money.
They were loyal to us, and I needed to be loyal to them. And you personally liked to work in a certain kind of
atmosphere. Definitely. And that’s been part of my journey over the last few
months. If I’m spending the majority of my time being unhappy, then maybe I need
to think about the kind of atmosphere I need to be in. Because I don’t want to
be somewhere where I’m not able to make changes, or where I’m not happy
myself. Is it still possible to be a quirky, smaller family business and
be successful? Yes, definitely. And the number of people
who’ve left big companies to start hedge funds or their own businesses shows
that. A lot of people don’t want to be in big, corporate structures. They have
realized how difficult the whole political aspect of it is. So you believe that small entrepreneurs can still be financially
successful over the long term? Yes. In private companies, perhaps, there
is more of a chance than in public companies, where you really are serving a
different master. If I’m running my financial services company and I have a 15
percent margin and that makes me happy, that’s fine. But if my shareholders are
saying, "Well, you have a 15 percent margin, but these other people have 20
percent; if you don’t get to 20 percent your business isn’t going to do well and
the stock price is going to go down," then I have to take my focus away from the
business and the people and focus on the external more. In extreme cases, you
have these corporate misdeeds where the stock price is served even in ways that
are dishonest. How did you juggle family and work? My husband has been phenomenal. And we’ve
had the same nanny for 12 years, so there’s been a continuity that’s been really
important. The balancing has worked as well as it could, which is not to
say that once a year I don’t have a moment where I’m literally crying in the
middle of the street not being able to get to where I’m supposed to be. Having
friends who deal with the same issues is really important. So it’s all been
OK. I took Charlotte, my 9-year-old, with me when I had to go to
the office to do the final cleanup. I said, "Charlotte, I want you to look
around and always remember this. After 80 years, this is it. There’s Nana’s
desk, which I’ll be taking with me." I guess I got a little dramatic, because
she started to cry. But I felt it was important, because this business has been
a part of our family. Can you give us a sense of what you’ll do next? Given that I like being in
control, one could assume I’ll be in some sort of entrepreneurial endeavor. I
have the financial services industry in my blood, so I’ll continue to be a part
of that.
Photograph by Thomas Hart Shelby.
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