YouSaid · the spoken record

Jenny Johnson

lines on the record: 69
first: 2023-07-07
most recent: 2023-07-07
sittings or episodes: 1
sources: podcast

Every line below is reproduced as it was said and linked to the record it came from. Nothing here is summarised or generated. Directory · Search · Corrections

“Well, I think the tenants that have always been important, which we talked about earlier, like diversification, get invested early, the value of compounding, dollar cost averaging, where you just keep committing and investing month after month after month Those things get lost sometimes in the stories, and yet they're probably the most important things about investing.”
2023-07-07 · Masters in Business · Jenny Johnson on Managing a Trillion-Dollar Firm · IDENTIFIED FROM THE TRANSCRIPT · source
“And be just curious. Ask questions, read. I always say to people, read the CEO's letter in an annual report if you want to know what's on your boss's mind, right? Because they're going to lay it out there and try to connect what you do to the bigger picture of whatever a company is.”
2023-07-07 · Masters in Business · Jenny Johnson on Managing a Trillion-Dollar Firm · IDENTIFIED FROM THE TRANSCRIPT · source
“Kids' education rights down the line. Exactly. So my first thing is to say this is just a great industry to be in if you want to make a difference and you want to help people. You think about some of the stuff on ESG, you know, the kind of impact investing, those types of things. All of those things require money. And so one is it's a great industry. Two is go in.”
2023-07-07 · Masters in Business · Jenny Johnson on Managing a Trillion-Dollar Firm · IDENTIFIED FROM THE TRANSCRIPT · source
“It's amazing, right? It's like Exactly. Just so much details. You know, I feel like as an industry, we don't do a good enough job at selling people and what we do. And I tell the story about, you know, I have five kids with my daughter. I was talking to my daughters and I said, so are you going to join me in this industry? And one of my daughters said, no, mom, I want to do something that helps people. I'm like, are you kidding me? This industry is a great industry to help people. You know, you wouldn't have the vaccines that we had without, you know, the businesses that were out there that were investing and trying to find opportunities. We help people, I say at Franklin Templeton, to achieve the most important financial goals of their life. And oh, by the way, every goal, not every goal. Most goals require some financial component.”
2023-07-07 · Masters in Business · Jenny Johnson on Managing a Trillion-Dollar Firm · IDENTIFIED FROM THE TRANSCRIPT · source
“I like historical fiction and I like history books. Probably Ken Follett. I really enjoy his historical fiction books, you know, the ones of World War I, World War II. He's a great one called It's about the building of cathedrals, pillars of the earth, I think it is.”
2023-07-07 · Masters in Business · Jenny Johnson on Managing a Trillion-Dollar Firm · IDENTIFIED FROM THE TRANSCRIPT · source
“Someone else's biography. I'm reading Walter Isaacson's book on Kissinger I loved his book on Steve Jobs. A few of the things that he's done.”
2023-07-07 · Masters in Business · Jenny Johnson on Managing a Trillion-Dollar Firm · IDENTIFIED FROM THE TRANSCRIPT · source
“I have to say something about my mom for a second. Okay, so you got to understand, my mom had seven kids and then went back to Stanford Medical School. Well, my dad was building Franklin. She was doing that. And she's 87. They're amazing. How long did she”
2023-07-07 · Masters in Business · Jenny Johnson on Managing a Trillion-Dollar Firm · IDENTIFIED FROM THE TRANSCRIPT · source
“My father is my early mentor and continues to be my greatest mentor. I feel incredibly blessed to have him and am grateful. And like I said, he never tells you what to do, but he's always a great, if you ask, he's always great at giving you his opinion and really incredibly thoughtful.”
2023-07-07 · Masters in Business · Jenny Johnson on Managing a Trillion-Dollar Firm · IDENTIFIED FROM THE TRANSCRIPT · source
“Oh, sure. And, you know, it's got great documentaries on science and history and stuff like that. So I tend to watch some things. I was trying to understand quantum computing and what it does and quantum entanglement. And because from a text standpoint,”
2023-07-07 · Masters in Business · Jenny Johnson on Managing a Trillion-Dollar Firm · IDENTIFIED FROM THE TRANSCRIPT · source
“Ah, I just finished. I'm always way behind on these things. So I just finished, I think it's called Dead to Me, which is a Netflix series, which I thought was like a dark comedy boat. Very dark comedy. Yeah, very good, but very good. It was funny.”
2023-07-07 · Masters in Business · Jenny Johnson on Managing a Trillion-Dollar Firm · IDENTIFIED FROM THE TRANSCRIPT · source
“When Jenny jumped. Well, I think the key was Jenny wasn't really involved in making too many decisions. Oh, you weren't telling me.”
2023-07-07 · Masters in Business · Jenny Johnson on Managing a Trillion-Dollar Firm · IDENTIFIED FROM THE TRANSCRIPT · source
“There you Right So I was. Now my brother Greg is the control person of the Giants. Look at it. It was a blast, I have to say. The thing that I learned, I think I know a little bit about baseball. I don't know anything about baseball. Baseball people talk about statisticians. They know everything. This guy's going to move three feet with this picture who goes up. And so pretty quickly, I realized I don't actually know that much about baseball, but I loved it. It was a lot of fun. And of course, I was there as I teased my brother about, you know, when I was on the board, we won three World Series. Have you done? What have you done, right? Exactly. He actually knows a lot about baseball. And I know. That's very funny.”
2023-07-07 · Masters in Business · Jenny Johnson on Managing a Trillion-Dollar Firm · IDENTIFIED FROM THE TRANSCRIPT · source
“So until we start to hear the Fed start talking about maybe they're going to change that target or lighten up on that target, I think it's tough for him to just take too long of a break. Sure, he can take the break through the summer. Take the summer off. Go fishing. They get a jacket.”
2023-07-07 · Masters in Business · Jenny Johnson on Managing a Trillion-Dollar Firm · IDENTIFIED FROM THE TRANSCRIPT · source
“That's right. I think that's right. And I don't think that the Fed is going to, oh, I, as I said, I think the Fed is going to be very data-driven. And right now, you know, unemployment is still, what is it, 3.7? Very low, right? Historically low levels. You're starting to see some labor participation coming back in a little bit. You know, look at a lot of people say, is there going to be a recession or not? There probably is. Eventually. They have to, right? I mean, they have to cool it down. The question is, is it a deep recession that causes a lot of? We don't think, or at least I don't think, and by the way, we have five different fixed income teams at Franklin Templeton, so there are some different views on this, but that will have a deep recession. And, you know, but the Fed has definitely jammed on the brakes, and it's still been hard. You know, the easy part was getting inflation from nine to five, four and a half. Now's...”
2023-07-07 · Masters in Business · Jenny Johnson on Managing a Trillion-Dollar Firm · IDENTIFIED FROM THE TRANSCRIPT · source
“Right. And so they've been in that, and so they believe that that's going to be the response. Whereas people that have a little more experience, like me, you know that you can't always, you know, count on the Fed to bail you out. And as a matter of fact, JPAL's trying to be very clear with it and the market keeps fighting the Fed and thinking, you know, they're going to call us bluff or something. I think that the Fed is being very data driven at this point. And he's trying to make it clear that the economy still remains pretty hot, he's going to raise rates further.”
2023-07-07 · Masters in Business · Jenny Johnson on Managing a Trillion-Dollar Firm · IDENTIFIED FROM THE TRANSCRIPT · source
“Past 18 months. Yes. Everybody ignores him But you know why? A huge percentage of fixed income managers have only lived through the time that the Fed bailed us out every time.”
2023-07-07 · Masters in Business · Jenny Johnson on Managing a Trillion-Dollar Firm · IDENTIFIED FROM THE TRANSCRIPT · source
“The rate hike cycle. Right. Okay. You know, I think the Fed is saying they're going to still raise more. And I think you could see one to two more times that they raise this year. I think people are finally over they're going to cut this year. I definitely don't think they're going to cut this year.”
2023-07-07 · Masters in Business · Jenny Johnson on Managing a Trillion-Dollar Firm · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, first of all, I don't think money market funds look anything like they did when you had problems. You just had a couple difference. And so, you know, if you have a certain amount of risk and you're a prime floating fund, otherwise you're tied to the dollar and it's short duration and I think very secure. Today you can get five and a half percent in the money market fund. I mean, that's pretty impressive. And I think that we've seen a lot of money flow into money market funds because people saw that they could get that and they weren't ready to get back into the market. Now, having said that, we're close to the end of the cycle.”
2023-07-07 · Masters in Business · Jenny Johnson on Managing a Trillion-Dollar Firm · IDENTIFIED FROM THE TRANSCRIPT · source
“But it was hard. If you are an active manager, your job is to have a diversified portfolio and think about risk adjusted returns. And when you have a momentum market like that and you have five companies that take 25% of the index or whatever it ended up being, a professional manager gets nervous by that type of concentration in, say, the S&P 500. And there's not enough discussion about how the indexes, the market risk of the index changes depending on one, you know, the day Tesla was added to the S&P 500. It became a much riskier investment by investing the S&P 500 based on volatility and concentration. And so in those types of market, it's hard for an active manager to actually beat that. But when you have volatility, that's when you start to see outperformance.”
2023-07-07 · Masters in Business · Jenny Johnson on Managing a Trillion-Dollar Firm · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, I think the good news is that fixed income is now actually an asset class you want to be in. Hey, look, you yield, exactly.”
2023-07-07 · Masters in Business · Jenny Johnson on Managing a Trillion-Dollar Firm · IDENTIFIED FROM THE TRANSCRIPT · source
“It's really good for. Well, I think you got to spend a little time there and go see because I took my executive committee to the Middle East. We visited several countries there. And honestly, I think that many of them felt that we were going there to think about raising money from that region and came away thinking they're going to be investment opportunities there. We actually acquired in 2007 a local asset management. I mentioned local asset management being important. So a local asset management team that's based, we've been in Dubai about 20 years. And we're the largest, I think, multinational Sharia manager for Islamic finance that came out of that local team. And so they do local GCC bonds and equity investments. So there's a lot of opportunity, I think, to invest there.”
2023-07-07 · Masters in Business · Jenny Johnson on Managing a Trillion-Dollar Firm · IDENTIFIED FROM THE TRANSCRIPT · source
“Right. I mean, I think what's interesting is they think like a generational family thinks, right? And so in their mind, oil runs out, I don't know, you have three generations, whatever it is, they want to reinvest in their economies to diversify it to ensure that they're not out of money when that happens, right? And I actually genuinely believe some of the greatest innovation on renewable energy is going to come out of places like Abu Dhabi and Saudi Arabia because they are investing in it and they have the balance sheet to be able to make those investments.”
2023-07-07 · Masters in Business · Jenny Johnson on Managing a Trillion-Dollar Firm · IDENTIFIED FROM THE TRANSCRIPT · source
“But it should be a great opportunity and growth. And you see some of the supply chains people are diversifying. India is one of the beneficiaries of that. Vietnam is another beneficiary of that. Japan, even in the case of semiconductors. So I think there's just a lot going on there that is pretty interesting. And then the Middle East is another amazing area. Yeah, they seem.”
2023-07-07 · Masters in Business · Jenny Johnson on Managing a Trillion-Dollar Firm · IDENTIFIED FROM THE TRANSCRIPT · source
“To? Well, I think a lot of them are deciding that there's more opportunity even at home. It used to be they had to come to the US or Europe because that was going to be where the opportunity is. But now the domestic economy is growing so well that there's a lot of excitement. So there's less or choosing to leave. And then I think, you know, China, a lot of discussion around China, you know, China's, what's the US 23% of the world's GDP and China's 18% the next, the third is like Japan at 4.9. I mean, it's a big market and it's going to be important. And so, you know, we have a joint venture there and we continue to invest in China. But then there's other markets that you look at. There are 300 million people in Indonesia. They get their policies right. It's going to be amazing growth. Vietnam, you know, another one, capital markets are really tough there.”
2023-07-07 · Masters in Business · Jenny Johnson on Managing a Trillion-Dollar Firm · IDENTIFIED FROM THE TRANSCRIPT · source
“Never happens. Well, you know, they say there's six times the number of engineers that graduate in India every year than the US. And I can tell you, you know, in India would prefer to go to an IIT than Harvard. They look at Harvard as a safety school. I mean, really.”
2023-07-07 · Masters in Business · Jenny Johnson on Managing a Trillion-Dollar Firm · IDENTIFIED FROM THE TRANSCRIPT · source
“My observation when I would be excited by all those statistics was Indians were the most skeptical about India. On my last trip, it was Clear difference in view that in India, Indians and Indian Americans are really excited about what's going on. And for the first time, I found an optimism there that I hadn't really sensed before”
2023-07-07 · Masters in Business · Jenny Johnson on Managing a Trillion-Dollar Firm · IDENTIFIED FROM THE TRANSCRIPT · source
“Speaking, so those are all great tailwinds for the economy. Many people say, India grows at night when the government sleeps. I think Modi's been doing a really terrific job at trying to reduce the amount of kind of bureaucracy that's there. I have to say that”
2023-07-07 · Masters in Business · Jenny Johnson on Managing a Trillion-Dollar Firm · IDENTIFIED FROM THE TRANSCRIPT · source
“It's going to matter the demographics of a country, the growth, the policies, the regulation, all those that go into factors. I mean, we were in India in 1995. We were in Taiwan in 1985. China first investments in 1988. We look at those. Asia is going to be, they say there's going to be a billion people who enter the middle class in the next decade. And 87% of them are going to be in Asia. I lived in India for a little while when I was running the technology and the operations group. And I can tell you 56% of the population is under the age of 25. Wow. It's got a British legal system, a British education system. While there's 23 different languages that are spoken and more dialects, you know, certainly you aspire to speak English. And so the people that you hire from colleges are all in.”
2023-07-07 · Masters in Business · Jenny Johnson on Managing a Trillion-Dollar Firm · IDENTIFIED FROM THE TRANSCRIPT · source
“Probably equity, but because we can do the on the private credit teams, they can do it on the bond side. But that would be an area that would be interesting to us. We like local asset management, so we have clients in 155 countries. People tend to like a home country bias. So, you know, 80% flows in India tend to go to domestic products. We were the first foreign manager in India. And so we have local equity, local fixed income, but we look for markets that made sense to us. We'd be a buyer of a local asset management. We have them spattered throughout the world. And then, as I mentioned on the distribution side, anything that builds that deeper relationship that can help us with distribution.”
2023-07-07 · Masters in Business · Jenny Johnson on Managing a Trillion-Dollar Firm · IDENTIFIED FROM THE TRANSCRIPT · source
“So with respect to kind of product gaps, the only one that we really feel is out there as a gap is infrastructure. So if an interesting, because we think there's going to be a lot of growth in infrastructure. On the bond side.”
2023-07-07 · Masters in Business · Jenny Johnson on Managing a Trillion-Dollar Firm · IDENTIFIED FROM THE TRANSCRIPT · source
“It's a Right. And we're totally aligned with the shareholders because we're looking for the best outcome for the stock. And again, sometimes that's making some investments today that you know will pay off in a few years.”
2023-07-07 · Masters in Business · Jenny Johnson on Managing a Trillion-Dollar Firm · IDENTIFIED FROM THE TRANSCRIPT · source
“The outstanding shares. Yes. Yeah, no, I mean, for sure. The risk in asset management is that an activist comes in and says, you know what, why don't we spin off all these groups because we can get a bigger multiple for the alts business and various things. And that is a short-term gain and doesn't build a long, sustainable business. So it's better to have that, you know, and I genuinely believe scale is going to be more and more important, as I mentioned, for things like data for asset managers. And so building a long-term business really important. An activist doesn't take on a company that's got a 40% control because you can't get enough stock to be able to ultimately, you know.”
2023-07-07 · Masters in Business · Jenny Johnson on Managing a Trillion-Dollar Firm · IDENTIFIED FROM THE TRANSCRIPT · source
“We'll talk about before any acquisition is done. That's clearly part of the conversation, as well as my uncle. My uncle's still active in the firm. And so we'll have conversations about what we think, does it make sense? My father, my uncle, my brother will never say you have to do this. They'll say, here are the thinking on it. And my brother would say the same thing when he was CEO for 15 years. My father was a great resource, but never would tell you what to do. And so it's nice to have those voices in the room, but in the end, the decision's mine as a CEO with my board and my management team. And they're just great advisors.”
2023-07-07 · Masters in Business · Jenny Johnson on Managing a Trillion-Dollar Firm · IDENTIFIED FROM THE TRANSCRIPT · source
“Privilege it is to be a CEO and have people who care so much like you do to be able to talk to about things that you're thinking about. You go to them.”
2023-07-07 · Masters in Business · Jenny Johnson on Managing a Trillion-Dollar Firm · IDENTIFIED FROM THE TRANSCRIPT · source
“It sounds challenging. There were definitely times where I'd say to my brother, listen, stop, you can't treat me like my little sister in a meeting. In front of other people, but you know what? As a family, we get along great. And my brother and I get along great. And he's still executive chairman today. And, you know, we talk about parts of the business things that I'm struggling with. I'll talk to him. I'll talk to my dad. And I got to tell you what a great”
2023-07-07 · Masters in Business · Jenny Johnson on Managing a Trillion-Dollar Firm · IDENTIFIED FROM THE TRANSCRIPT · source
“Everybody asked me, is this succession? No, not in our family. I wasn't even thinking about that. I'm just thinking about my own family.”
2023-07-07 · Masters in Business · Jenny Johnson on Managing a Trillion-Dollar Firm · IDENTIFIED FROM THE TRANSCRIPT · source
“It's amazing. And so, you know, if you think about that and you overlay that in any decision, is this good for the client? Then I think that gives you a lot of clarity. It's kind of a North Star there. And then I'd say my dad was always incredibly fair to people. And you recognized that every person contributes to who we are as a company. When you call center. Employee picks up the phone and is talking to a client, they're shouldering the entire reputation of the firm on them with that client. And my dad always understood that. And so there's just a genuine respect for everybody's contribution to the company. And I think that's part of our culture.”
2023-07-07 · Masters in Business · Jenny Johnson on Managing a Trillion-Dollar Firm · IDENTIFIED FROM THE TRANSCRIPT · source
“I mean, one of the things my father has always said take care of the client and the business takes care of itself. And so anytime there'd be, and I still talk to him about things. Your dad is how old?”
2023-07-07 · Masters in Business · Jenny Johnson on Managing a Trillion-Dollar Firm · IDENTIFIED FROM THE TRANSCRIPT · source
“When the world changed. I mean, I wouldn't attribute anything in particular to that. I mean, you're, you know, when you do an acquisition, one of the most important things you do is assess talent. And there's a bias towards your own talent. And it's a missed opportunity if you don't infuse your organization with talent from the company you acquired. And so we were very focused on that. And sure, you'd love to meet people in person versus doing Zoom interviews. But we had to do it that way. We ended up with, I think, two-thirds of Leg Mason's kind of corporate services groups came into Franklin Templeton and a big part of the distribution team became part of Franklin Templeton. So you're trying to kind of build a best athlete. And it's not just a best athlete. It's the best team. So sometimes you're just trying to make sure the team will.”
2023-07-07 · Masters in Business · Jenny Johnson on Managing a Trillion-Dollar Firm · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, exactly. And so we were comfortable. It was already part of our DNA to have meetings where inevitably somebody was on video. So it was already kind of how we operated. Now you had everybody on video. And I think the thing that I appreciated was actually people finally believed you can run businesses that way. And so, you know, in many ways, we closed the Leg Mason deal two months early. And I think it was because we were in some ways more efficient by doing it via video. Not everybody getting on an airplane and going and trying to work your calendars to go meet.”
2023-07-07 · Masters in Business · Jenny Johnson on Managing a Trillion-Dollar Firm · IDENTIFIED FROM THE TRANSCRIPT · source
“That was transitory. You know, you just deal with the cards that are in front of you. The good news was when I was running technology, I became very passionate because we had developers in India and kind of around the world, Poland and various places. And I felt like it was really important that you could see people when English was a second language. And so we push, I push the tech team to get desktop video. And so we had these devices. They were called a Tanberg device. And it sat separately on your desktop. And we would do video calls. And so the company had been doing this for 20 years”
2023-07-07 · Masters in Business · Jenny Johnson on Managing a Trillion-Dollar Firm · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, so I stepped in, I think, February 11th, I think February 20th, we announced the acquisition of Leg Mason, which of course had been in the works. For quite a while, so we had good plans in place. And then about three weeks later, remember, we were going to flatten the curve with two weeks off. It turned into two years. It's just going to be 10, 10.”
2023-07-07 · Masters in Business · Jenny Johnson on Managing a Trillion-Dollar Firm · IDENTIFIED FROM THE TRANSCRIPT · source
“Of the other teams, right? And we think over time it's going to be more about what unique data do you have that you can apply your models that's going to be more and more important.”
2023-07-07 · Masters in Business · Jenny Johnson on Managing a Trillion-Dollar Firm · IDENTIFIED FROM THE TRANSCRIPT · source
“Sure. And I think actually we all talk about AI and AI understanding and the models that you use and the combination of models can be really important. But honestly, I think the real competitive advantage is going to be, and this is why I think scale in asset management is so important, is the breadth and depth of the database. So we have an investment data like that is shared by our 18 individual investment teams. And so as they contribute, so maybe a team like our global macro team has 14 different feeds for its ESG framework. They come in, it's scrub centrally. Now that data is available.”
2023-07-07 · Masters in Business · Jenny Johnson on Managing a Trillion-Dollar Firm · IDENTIFIED FROM THE TRANSCRIPT · source
“If you think about what technology is, it's moving this piece of data from here to here and maybe adding some new data Dumb down what you're talking about, and let me just try to understand it, right? And things like cloud servicing, right? These are concepts that have existed in tech for a long time. The technology gets better and we usually change the name about every decade. But once you understand what it's trying to achieve, you don't have to be a programmer. You just, you know, and I honestly, I think one of the biggest things that people don't appreciate is the quality of data. Truly garbage in, garbage out. And so having discipline around your data management is really, really important in a tech department.”
2023-07-07 · Masters in Business · Jenny Johnson on Managing a Trillion-Dollar Firm · IDENTIFIED FROM THE TRANSCRIPT · source
“So it's funny, although I'm divorced now, but I was married to a guy who was a tech person. And I'd always ask him all these questions. I was really curious around it. And so I always felt like he gave me a really good background in understanding technology. And then I learned to be fearless in asking the question, right? Tech people are used to everybody's being so afraid of tech that they can sometimes give you a little bit of a Blurred answer, steamroller. Yeah, and you're afraid to look stupid so you don't ask. Well, I learned, you know what?”
2023-07-07 · Masters in Business · Jenny Johnson on Managing a Trillion-Dollar Firm · IDENTIFIED FROM THE TRANSCRIPT · source
“It's funny. So, you know, on the first question, people ask me, what's it like to be a woman in finance world? The problem is, I don't know what it's like not to be one, so I don't know that I have a good answer to that. But I can say I am so thankful today as a CEO to have run technology. Because so much I think of decisions that we have to make and innovation that's happening requires a basic understanding of technology. And so I look at parts of your career, you've sort of moved your way around and you wonder whether it's going to be relevant at some point or not. And some of the things that I think would naturally people think wouldn't be relevant to being CEO have been the most relevant. I mentioned running the auto finance business and honestly running the technology department”
2023-07-07 · Masters in Business · Jenny Johnson on Managing a Trillion-Dollar Firm · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, the RAAs have been growing again as the fee-based environment and the fact that people honestly could take their book and walk in and set up their own shingle and be on a platform provider. And so it's a really important channel for us. We are much bigger in the wirehouse and the independent channels because that's kind of been our DNA historically. And those who”
2023-07-07 · Masters in Business · Jenny Johnson on Managing a Trillion-Dollar Firm · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, we want to be the first phone call. We want to be the strategic partner where somebody's thinking, I've got this problem. Let me think about how to solve it. I want to talk to Franklin Templeton and talk to them about how to approach it. And so you take advisor engine. It has a CRM system that was Built by a financial advisor. So, you know, a lot of smaller RAAs don't have a tech team to sit there and say, how do I use Salesforce? How do I use Microsoft Dynamic? And so they want something simple. So this is a simple CRM system that's just for the business of being a financial advisor. And if we can build that relationship with that advisor, then we feel like we can be a stickier partner.”
2023-07-07 · Masters in Business · Jenny Johnson on Managing a Trillion-Dollar Firm · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, we think that's going to be important to add to the Canvas platform. Oh, really? Right. So, yeah. So managed options are important as part of the tax optimization strategy. And so the feeling is that you needed that to be included to where the technology will ultimately go, where the strategies will ultimately go.”
2023-07-07 · Masters in Business · Jenny Johnson on Managing a Trillion-Dollar Firm · IDENTIFIED FROM THE TRANSCRIPT · source