YouSaid · the spoken record

Kelly Coffey

lines on the record: 80
first: 2016-04-29
most recent: 2016-04-29
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

“Is that the right word? I tend to get that way when I'm focused on something. Hyperfocused. I'm hyper-focused on it. And that can be a benefit. But, you know, I think your biggest strength is usually your biggest weakness.”
2016-04-29 · Masters in Business · Interview With Kelly Coffey: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“But I would love to know a lot of the things I know today in terms of making sure I think there were times, and particularly in my career and particularly when I was doing M&A, where I buried myself in my work. And as my husband likes to remind me, you thought it was the coolest thing in the world. You never would have wanted to be somewhere else on a Friday night or a Saturday night. But I do think sitting back and saying you could have backed off a little bit and done some more really interesting things. And you didn't need to be so focused on one part of your life probably for as long as I would have been.”
2016-04-29 · Masters in Business · Interview With Kelly Coffey: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“When people always ask me, what would you go back and do differently? That's that type of question. I always say nothing because I'm afraid that I wouldn't get to where I am now.”
2016-04-29 · Masters in Business · Interview With Kelly Coffey: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“A job in Hong Kong in a heartbeat. I could give people Hong Kong, London, just take advantage of it. I mean, the world is an incredible place. My advice would be to be open-minded and to take some risks and make sure they're doing something they love.”
2016-04-29 · Masters in Business · Interview With Kelly Coffey: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Or go abroad. I have this, you know, I think, I mean, I had studied abroad in college, but moving abroad early in my career was one of the best things I did. It's eye-opening. And I sometimes will have conversations with people where they don't, they don't want to move cross-country or they don't want to move”
2016-04-29 · Masters in Business · Interview With Kelly Coffey: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, don't have blinders on. I think that's really important. I think it's important to choose to work with someone you think you'll learn from, who you work for so important. It might even be more important than what you do”
2016-04-29 · Masters in Business · Interview With Kelly Coffey: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Employees or younger members of our team tend to be very, a little bit risk averse. You know, they're purposeful, so they're moving toward a purpose, maybe more strongly than certainly I was. I came in not intending to stay in the industry. I looked to the next thing to make sure I would be learning, having fun, you know, working with people I liked. I didn't necessarily say I wanted to be the head of the private bank or I wanted to be this. They're more purposeful, which is good, but I think it makes them a little bit.”
2016-04-29 · Masters in Business · Interview With Kelly Coffey: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Rising title of Salship. I think it's a great thing. And I think it's better for those individuals who didn't love what they were doing. Those are the people, you know, if you're miserable doing this, that's kind of crazy because there's so much exciting things going on. And so I think we cleared that out. And so I would say make sure you love it and take some chances. I do find sometimes that our younger”
2016-04-29 · Masters in Business · Interview With Kelly Coffey: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“I would say take a chance and go for it. Make sure you love it. I think one of the things that's happened in our industry that's been good is through the crisis, there was a fair shakeout. And I think there was a time when everybody gravitated toward finance because it was a thing to do.”
2016-04-29 · Masters in Business · Interview With Kelly Coffey: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“So that we're spending our time. And when I say we, I mean a banker or someone who's talking to a client on interpreting and advising them, but making people smarter through their use of technology. And I think that's going to be.”
2016-04-29 · Masters in Business · Interview With Kelly Coffey: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Yes Well, I think technology, you mentioned fintech. I think that is the absolute biggest change because you have a lot of different companies that come into the space that are all doing the same thing in a way. They're all trying to solve a problem that the financial industry is incredibly complex. We're regulated in a complex way. What we do is somewhat complex. And they're really good at figuring out what's that pain point, how do you solve it? How do you make a mortgage process easier so you know what's going where you are in that process one of the most highly regulated processes in the world, I believe? And so I think that's going to change the way we even interact with our clients and the way we serve our clients and the way we think about it. And it's changing, like I said before, everything we do, a lot of the analyses we're doing inside to make, you know, I think we just need to have use technology to interpret data better.”
2016-04-29 · Masters in Business · Interview With Kelly Coffey: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“To have these at the top. But I can go on and on and on. I get out my little Kindle app on my iPhone and it just, I'm constantly putting books on there that people recommend to me. You know, we have a summer reading list and a winter reading list, so we're now preparing for our summer reading list, which is not out yet.”
2016-04-29 · Masters in Business · Interview With Kelly Coffey: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“No, Bill Cohen didn't write that. He wrote a new. It was, I can't remember who the author was. I can't remember right now because it stops probably in 98 or 2, it's actually ends quite a while ago. Bill wrote a newer one. And I actually read some of his. I think they're good.”
2016-04-29 · Masters in Business · Interview With Kelly Coffey: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“He wrote Pillars of the Earth, but the winters of the world, the trilogy that goes from World War I through World War II, that's a favorite of mine. And I love Henry James Portrait of a Lady. That's, again, that period that kind of takes you back really interesting characters. And then I like to read about a lot of business books, business or investing books. So there's a great book by Larry Bossi that's called Execution Getting It Done. I think, you know, a lot of what I have to do in my business is execute. Even a great strategy poorly executed doesn't do anything. I like Stephen Pinker. I like Malcolm Gladwell. I like Adam Grant. So those are the types of things that I tend to read.”
2016-04-29 · Masters in Business · Interview With Kelly Coffey: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“That's a really hard question for me because I love to read. So I could give you a super, super long list. If you think about, starting with fiction, because that's fun because I do like mostly on vacation to get into something that kind of takes my mind completely out of finance. I like books that take you to a different time period and then explore characters there. So if you think about one of my favorite series is Ken Fall, it's a great writer.”
2016-04-29 · Masters in Business · Interview With Kelly Coffey: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“I don't think I want to mention any names, but I think we have them, we spent a lot of time with them, and when they come in and think about and talk about what's going on in the world and what they do, I learned something from every single one of them. It's an incredible position to be in.”
2016-04-29 · Masters in Business · Interview With Kelly Coffey: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“A lot of investors have influenced my approach. All of the greats, and I love the simplicity of Buffett. I think, you know, us internally have some pretty extraordinary investors, whether you look at some of our CIOs like Mike Semblist, who's been at JP Morgan a long time, and just has a unique perspective on the world. You know, we also on our platform have a number of the best managers in the world. And they have names anymore.”
2016-04-29 · Masters in Business · Interview With Kelly Coffey: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Nope. Well, that we were buying the phone company in the north, but the first time I went down, we were selling a factory for a European company. And it was in the south of Argentina, a little place called Comodor Rivadavia. And there were no women that lived in the town except for the women that served the lunch at the factory. And they didn't really live at the town. I think they live far away. And they sent me down to do diligence on it, which was pretty funny. I got a lot of lunches.”
2016-04-29 · Masters in Business · Interview With Kelly Coffey: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“I don't know. I think it was. I spoke French. They sent me to Argentina. That's how much thought went into it. But it was fabulous. And we went down. We were selling a...”
2016-04-29 · Masters in Business · Interview With Kelly Coffey: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“People that I've worked with that have just given me good advice at different points in time. I think JP Morgan is a place where it's not too often where you're a couple, I might have been just for the training program a month out when they tap me on the shoulder and sent me down to Buenos Aires to work in Argentina to do a project there and then ask me to move a year or two later. You know, there's been a lot of either, you know, and it cuts across the level. So I have mentors that are more junior and more senior that I look to and I learn from all the time.”
2016-04-29 · Masters in Business · Interview With Kelly Coffey: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Banking family, you could say a small hometown bank, the old forge bank. And he was pretty incredible. And so when I went into finance and I worked for him in the summers when I was in high school and did a couple other things too, but it was a really great relationship because it's someone you could talk to about everything, including at the time what we thought Greenspan was going to do next on the Fed. I mean, it was a really close relationship. And I think that formed a lot of who I am. And then when I came into the business, I've had some pretty amazing.”
2016-04-29 · Masters in Business · Interview With Kelly Coffey: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“I've been lucky to have a lot of great mentors. Probably what I would consider one of my first mentors might be a strange way to call him was my grandfather, who ran a bank in Pennsylvania. Oh, really? He passed away in 98.”
2016-04-29 · Masters in Business · Interview With Kelly Coffey: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“That is If you look at everything, right? If you will, thank you for your business, first of all. But if you look at all the money we move, we've said this publicly, it's somewhere between $5 and $10 trillion a day that moves.”
2016-04-29 · Masters in Business · Interview With Kelly Coffey: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“That's massive. Everything we do, what I do is I just take it and adapt it for certain client segments, whether it's the private bank or another part. And that's, so it's changing everything we do. How I look at how I'm looking at data in terms of giving clients advice. We have a big data team at JP Morgan that's fabulous. How we think about who our next clients should be. It's changing every day. And”
2016-04-29 · Masters in Business · Interview With Kelly Coffey: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Which is really impressive. And we're working every single day to improve it. And so that's one of the benefits I have when you sit at the private bank. I'm part of this huge organization that covers, we interact with at least half of the consumers in the US. Really?”
2016-04-29 · Masters in Business · Interview With Kelly Coffey: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“We are critically, we're really focused on that's critical. It's changed a lot of what we do. How you think about, well, first of all, not only how you interact with your clients, right? Making sure they can see our thought leadership on their phone. They can move money on their phone.”
2016-04-29 · Masters in Business · Interview With Kelly Coffey: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“And I think that if you ask me what the biggest factor for change will be going forward is similar to what it's been in the past in terms of technology, but I think at a much faster pace because we need to make sure we're interacting with our clients digitally, more efficiently. Their expectations of us aren't measured versus other financial institutions. They're measured versus how they interact with Amazon and Google and Apple, and we need to make sure we're staying pace with that.”
2016-04-29 · Masters in Business · Interview With Kelly Coffey: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“It's changed everything. It's changed our daily. The way we onboard a client, a new client, the way we interact with every client, when you think about doing a mortgage toward bringing a new client in, we've had to make sure we're complying not only with pretty complex regulations, but a different standard. In terms of the level of questions and the level of monitoring that we have to do. So we did all of that really quickly.”
2016-04-29 · Masters in Business · Interview With Kelly Coffey: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“I have about 15 direct reports if you look at, we're organized regionally around the US. So that is the regional sort of Client facing folk that directly report. And then I have the what might be a more matrix, but sort of all of the operations, technology, business, finance, et cetera, that is, that is also really much part of my table, I would say, as we do that. Product folks, et cetera.”
2016-04-29 · Masters in Business · Interview With Kelly Coffey: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“If I could get that higher, I would. I always try as I get more efficient and things done. Because when I'm with clients, I'm learning from them. I'm hearing how we're doing. I'm also seeing my team in action and spending time with them. So I find that's a really good way to touch people and to stay really attuned to what's going on. I have to spend a good portion of my time. We've had a lot change over the last couple years in terms of the way we have to do things. And so we have a lot to do to make sure our client experience is excellent. We're very efficient at doing everything. So I spent a good chunk of my time on. Improving the business”
2016-04-29 · Masters in Business · Interview With Kelly Coffey: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Across the board, strategy. I have a lot of partners around the table that help me do that across products, investing. I obviously don't do that by any stretch on my own. But so there's a lot of different parts of my job. I try to spend a good chunk of my time somewhere around 30 or 40 plus percent with clients.”
2016-04-29 · Masters in Business · Interview With Kelly Coffey: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“That's a really great question. I'm responsible for everything that touches a client, sort of the end-to-end business. And so”
2016-04-29 · Masters in Business · Interview With Kelly Coffey: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“And never left because never went back for the NBA. It was just always so fun. Yeah, because I've done a lot of different jobs within JPMorgan, and every single one of them has been fascinating, challenging, and interesting. And I've always felt like everything that was happening in the world impacted my day and it was interesting, which is what I ultimately”
2016-04-29 · Masters in Business · Interview With Kelly Coffey: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Has spooked the market. So I think we're at a point where it's kind of unprecedented, and I don't think we should expect to see a euphoria like we've seen in the past because the size of what's gone on and what's gone on around the world. Is such that it is putting a bit of a dampener.”
2016-04-29 · Masters in Business · Interview With Kelly Coffey: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“That'll be a bit of dry, yes, because, you know, I mean, you have, I don't know, something like 11 billion trillion dollars that are earning nothing or negative yield in terms of the overall market. Just look at where we are. We're at zero to negative yields right now. So that is a big drag. But people are, think about it as people are concerned, it's almost like an insurance policy. I'm concerned, so I want to keep that. I do think that whether you're keeping too much or not has to be answered on an individual level. But I think we talked about earlier all of the uncertainties that we have in the world is dragging on this, and that's why it's not a euphoria. If you look about at the amount of liquidity that's put into the world market and the central banks around the globe, the Fed is the only one that's starting to say we should normalize a bit. And 25 basis points was really nothing. It really doesn't mean anything to anyone. But just that.”
2016-04-29 · Masters in Business · Interview With Kelly Coffey: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“I think we have a lot of clients and we have a lot of investors who will just hold a higher level of cash than they had in the past just because of that. And that's fine, but it certainly is a conscious decision.”
2016-04-29 · Masters in Business · Interview With Kelly Coffey: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“I think when you go back and just remember what 2008 was like and then you think about what's happened since it's been a slow or grind in terms of what the economy's even done. And I think that weighs into people's sentiment today, right? That was not that long ago. And it was so difficult that it really does weigh on people to, it stays in investors' minds quite a bit.”
2016-04-29 · Masters in Business · Interview With Kelly Coffey: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“That sector. Look carefully at that. I think there's a little bit more to play out there, but the entry point to that will be a bit more in the fixed income side than the equity side.”
2016-04-29 · Masters in Business · Interview With Kelly Coffey: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“What the stock market is. It's a collection of companies that hopefully their earnings are always growing. So even a fairly valued market should appreciate over time. The stock market spend at all times highs many, many times throughout history. When you think about it, because it's always gone up, up, up. And there are moments and periods of where it comes down. So it really does, again, come down to your time horizon and your perspective. But I think the overall index level probably fairly valued not that interesting. The parts of the market that I think are more interesting are really more sectors where we see there's an interesting trend going on or they may be at a discount to where their historical values have been. So healthcare. Technology are probably two within that. So I think you've got to go into that.”
2016-04-29 · Masters in Business · Interview With Kelly Coffey: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, you know, it's so interesting how people always zero in on the US market is it overvalues, undervalued. I do think it's about fairly valued right now, particularly if you look versus history. But when you stop and just think about”
2016-04-29 · Masters in Business · Interview With Kelly Coffey: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“We have a very robust platform for that. And it all starts with our view on what's going on in the world. So we may say, you know, we have a certain view on what's going on in real estate, and then we'll figure out what we think the best way and who the best is to invest on that. Same thing in terms of something that might be happening in Europe that we want to take advantage of and then have the, so it is theme-based. We don't take the approach of saying you should have X percent of your portfolio in private equity. Therefore, let's just fill that bucket. It actually really is more of an investing view. And that is a great vehicle to do so, particularly when you have the time horizons that a lot of our clients have. So it's a really important part of how we invest for clients.”
2016-04-29 · Masters in Business · Interview With Kelly Coffey: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, I think SmartBit is interesting as a way to think about how do you take advantage of some of the idiosyncratic parts of the indices or sort of opportunities exist because of mispricing. You know, when we look at it, when we look at a portfolio, we are looking at it broadly. And I want there to be a part that is the most efficient way to capture beta. Sometimes that's passive, right? A lot of times that's passive. And then think about where are those parts of what you're investing in that you really need differentiated advice or strong management to capture. So emerging markets might be one of those where there's just a broader variance of performance. Certainly private equity for that portion of your portfolio. So that's the way I think about it.”
2016-04-29 · Masters in Business · Interview With Kelly Coffey: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Very diversified, and probably the other when I would say to be concentrated, there are times to be concentrated and there might be parts of your wealth to be concentrated in, but overall, to be too concentrated in one asset class or one style, I think is a mistake.”
2016-04-29 · Masters in Business · Interview With Kelly Coffey: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“And that's when you have to have the long term and just be able to say, you know, history's a guide. We're going to be fine through all of this. And it's one of the most important lessons in investing, I think.”
2016-04-29 · Masters in Business · Interview With Kelly Coffey: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“They are. And I think, you know, you say people at the equity market, oh, it's made a big run. We do tell clients when we're getting someone invested. It depends on where they're sitting today, right? But if they're starting from zero, we don't do that all in one day or a month. We like to phase into that because I think over time that gives them the best return. But there's always going to be, but there are times where that entry point just looks particularly attractive and they tend to be. Scariest times to invest.”
2016-04-29 · Masters in Business · Interview With Kelly Coffey: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Barry, I think that's exactly right. I think what people have, there's always going to be uncertainty in the world, and if you try to wait until it's all certain. I don't think you'll ever get to that place. And even when it feels more certain, you're probably too late. It's probably not the best entry point anyway.”
2016-04-29 · Masters in Business · Interview With Kelly Coffey: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“I think if I think about today versus a year or so ago, I think the concern about a recession is higher today than it was then. So more concern about that. And then obviously the politics, the political situation has a little more acute this year. Yeah, I think the election's coming. I think that's popped into people's minds. So let me ask me.”
2016-04-29 · Masters in Business · Interview With Kelly Coffey: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“People don't do it. It's really hard. So I think we take all of what's going on in the world and try to understand what we think it means for portfolios. I think it just proves that being diversified is the best way to invest for the long term. And so those are the types of questions we're getting.”
2016-04-29 · Masters in Business · Interview With Kelly Coffey: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Your investments have that amount. Nobody knows how to time that market exactly right. If you miss the top 30 days, you're negative.”
2016-04-29 · Masters in Business · Interview With Kelly Coffey: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Investors are a complicated world out there. You have what's going on in China, what's going on in Europe, you have negative rates in certain places. You have the U.S. election going on. You have the Fed having moved in December and unclear what's going to happen for the rest of the year. So they're asking all of those questions and they're asking them in terms of what does this mean for my portfolio. And if you look at the performance of clients who stay invested through market volatility, because again, this is money that is for the long, they do far better than trying to time the market to go in and out. Even just a simple, if you look at the return of the S&P over the last 20 years called 8%. So if you invested about $10,000, you'd have today $48,000 at the end of last year. If you missed the top 10 days,”
2016-04-29 · Masters in Business · Interview With Kelly Coffey: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source