YouSaid · the spoken record

Katie Koch

lines on the record
59
first
2025-05-09
most recent
2025-05-09
sittings or episodes
1
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podcast

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  1. “Part of the psychology of what people are going through and to support people through those difficult periods because in investing, it's usually the point of maximum psychological pain when you get to that inflection point and things revert and your philosophy and process will work again. And so I feel that I got trained well in that and that I've been able to bring that to the job. The part that's different is when you're investing, you make capital allocation decisions, obviously, in a portfolio context. And of course, as a CEO, that's one of your most important jobs is to make capital allocation decisions, decide what businesses to support, what new business lines to enter, et cetera. But you also have to execute. And I just think back to the investing days and sitting across from CEOs and asking them a lot of questions and scrutinizing their plans, like I don't think I fully appreciated how hard it was to take the vision and the strategy to execution. And so as a CEO, you're responsible.”

    2025-05-09 · Goldman Sachs Exchanges · From CIO to CEO: TCW’s Katie Koch on running a $200B asset manager · IDENTIFIED FROM THE TRANSCRIPT

  2. “So there's part of it that you are very prepared for as a CIO becoming a CEO. And then there's another part of it where you're not as much. So I guess I'll split those apart and walk through them. One thing that you bring, and I think makes you better at running an asset management organization, if you have been in the investing seat, is that you bring a lot of empathy and understanding to the job because it's a really difficult job. I mean, you are trying to predict the future under circumstances of extreme uncertainty. And you're trying to prosecute continuously and consistently a philosophy and process that by definition is not going to work every day and not going to work every quarter. And so it can be really trying emotionally and psychologically. And I think having gone through that experience, it has helped me be a better leader of an investing firm because I'm able to understand.”

    2025-05-09 · Goldman Sachs Exchanges · From CIO to CEO: TCW’s Katie Koch on running a $200B asset manager · IDENTIFIED FROM THE TRANSCRIPT

  3. “But really, they took a chance on me, and there's no limits to my gratitude for that experience and the 20 years I spend here. We should talk more about that because it fully equipped me to do this job. And I'm very grateful for that. But for me, I was in asset management when I was at Goldman Sachs. And it's an industry I love. I love investing. And I wanted to try it in a different context. So I wanted to do it in a place where we were in the monoline business of just asset management. Ideally do it somewhere that's privately held, which we can talk more about. And this opportunity came along. And I thought, you know, I really love to set strategy and build teams and build cultures. And this was a great opportunity to do that. And I felt like I said, I mean, you're never fully ready or fully prepared, but I felt ready enough to take the leap to do it. And it was a very good decision for me and for my family.”

    2025-05-09 · Goldman Sachs Exchanges · From CIO to CEO: TCW’s Katie Koch on running a $200B asset manager · IDENTIFIED FROM THE TRANSCRIPT

  4. “Sure. So, first of all, I am the lucky one. I was probably one of the least qualified people ever hired by Goldman Sachs.”

    2025-05-09 · Goldman Sachs Exchanges · From CIO to CEO: TCW’s Katie Koch on running a $200B asset manager · IDENTIFIED FROM THE TRANSCRIPT

  5. “It always was, yes, anyway. All right, so let's start with your transition from being CIO at Goldman Sachs Asset Management to leading TCW. That's a big change. And we were lucky to have you at Goldman Sachs for 20 years. But share with our listeners why you made that move.”

    2025-05-09 · Goldman Sachs Exchanges · From CIO to CEO: TCW’s Katie Koch on running a $200B asset manager · IDENTIFIED FROM THE TRANSCRIPT

  6. “Really, someone I reached out to for advice when I was considering this opportunity and someone that I've built a great relationship with since I started leading TCW and been able to talk a lot about the job and also the family aspect with her, which has been very personally fulfilling. And I met Howard Marks, who actually spent a formative part of his career at TCW. And he and I met through this process. And then we've gotten to know each other and get breakfast or lunch once or twice a year. And so he's given me great perspective on it. So in life, you don't know how these things are going to work out, but I'm so glad you asked me to do it. And it's an honor to be back. And honestly, once I tick through those list of people, I'm wondering why am I here? I don't belong in that long list of people, but it's an honor always to be back.”

    2025-05-09 · Goldman Sachs Exchanges · From CIO to CEO: TCW’s Katie Koch on running a $200B asset manager · IDENTIFIED FROM THE TRANSCRIPT

  7. “Today. Yeah, not today. But I do like, I just really loved that experience in general because, of course, when you're talking, you're not learning. So it was great to have this opportunity to go speak to all these smart, incredible people and really listen and digest their philosophy and their process. And that was a real highlight for me. So thank you for involving me in that. And I was thinking about it on the way here. And I met so many great people and interviewed so many extraordinary people through that process. But there are three that really actually had a massive formative impact on what I've gone on to do with leading TCW. So when you and I did this, I had the opportunity to interview Scott Besson, who of course is the CIO of Key Square Capital. Now, obviously, his Secretary of Treasury, great guy to know when you run one of the world's largest fixed income shops. I got to know Gene Hines, who is the CEO of Wellington, also mother of four kids like me. And she became”

    2025-05-09 · Goldman Sachs Exchanges · From CIO to CEO: TCW’s Katie Koch on running a $200B asset manager · IDENTIFIED FROM THE TRANSCRIPT

  8. “It's great to be here and great to have this experience. Thank you for having me. I would say that I prefer being the interviewer instead of the interviewee.”

    2025-05-09 · Goldman Sachs Exchanges · From CIO to CEO: TCW’s Katie Koch on running a $200B asset manager · IDENTIFIED FROM THE TRANSCRIPT

  9. “Well, first of all, I always love being back at Goldman Sachs. I have to say that when we started this, and you, it was your idea, but you were kind enough to ask me to participate, which ended up having huge benefits. I want to talk about, but we were like on our laptop Zooms, and now you guys have this hold for. It's very golden. Just keep taking it up to the next level. We try.”

    2025-05-09 · Goldman Sachs Exchanges · From CIO to CEO: TCW’s Katie Koch on running a $200B asset manager · IDENTIFIED FROM THE TRANSCRIPT