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

“We did. Our investment bank was really happy about that. And right next door to us, right? So our headquarters right there.”
2016-04-29 · Masters in Business · Interview With Kelly Coffey: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“So, I think it costs us a lot more. I know. Well, yeah, that really was interesting. I didn't think at the time that they were going to let that go, but it became apparent that I remember that weekend very well, series of conference calls. You know, I think one of the things that made JP Morgan able to react so quickly in the crisis was the fact that we had the risk infrastructure already set up. You know, Jamie also likes to say you don't declare war and then raise your army. You get your army first. And so we had risk meetings that we were doing that were this regular weekly meetings all the time. And during the crisis, what we did is we were just having them maybe four or five times a day. So it was that same infrastructure, but just shortening so that that reporting was instantaneous up and down in terms of understanding what was going on around.”
2016-04-29 · Masters in Business · Interview With Kelly Coffey: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Dressed back into the office right over to Bear Stearns to figure out, and they worked all night to make sure Bear could open the next day. And then through the weekend to see what we could do for longer term. I think what the, I'm not sure how many other institutions, if there was any other institution, could have pilled that off in terms of the amount of analysis that we had to do to be able to step in and run that right from Monday. I was incredibly proud of everybody. It was a tough time, but exciting in a way too.”
2016-04-29 · Masters in Business · Interview With Kelly Coffey: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“That's exactly right. And it was Alan Schwartz that called him and said, We have an issue. And he called the head of our investment bank, a couple people. People got out of it. It was 11 o'clock. People got out of bed.”
2016-04-29 · Masters in Business · Interview With Kelly Coffey: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Huge, and the other thing I think that was extraordinary about it, because Jamie has told the story. I know a number of times where, you know, he got that call diamond.”
2016-04-29 · Masters in Business · Interview With Kelly Coffey: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, as well as you can from the outside, I guess it was very quick. It was a Thursday night to Sunday night announcement. That's a what.”
2016-04-29 · Masters in Business · Interview With Kelly Coffey: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Clients were looking to us for a lot of advice on what was going on in the market. So you were really trying to take it all in and it really was scenario analysis.”
2016-04-29 · Masters in Business · Interview With Kelly Coffey: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“I had to walk into the building and figure out who worked for me and what they were doing and make sure I was running derivatives marketing then, make sure that no trade was put on around Wound without my approval. And it was moving quickly. And then the weekend, Lehman failed. When that was happening, it was extraordinarily complex because not only, you know, we have collateral posted to one another. So you knew what that was, but you had to actually think about what was going to happen in the markets and how that impacted your derivatives position and therefore what trades you might have to do when the market opened. And you were just constantly running scenarios to make sure we were ready for that. It was extraordinary. It really was.”
2016-04-29 · Masters in Business · Interview With Kelly Coffey: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“You didn't know what was happening. And, you know, I remember the night, the weekend that we bought Bear Stearns, you know, having that conversation on Sunday night. Like, I need everybody in at 6 a.m. We ran their risk from day one.”
2016-04-29 · Masters in Business · Interview With Kelly Coffey: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Interesting is a good way to say it. I think it was like tense and on and kind of ready for the next punch and where it was going to come from. I think one of my most vivid memories I have a lot of vivid memories, one of my most vivid memories is the fact that you would walk onto our trading floor on a Saturday or Sunday and it looked exactly like it did Monday through Friday.”
2016-04-29 · Masters in Business · Interview With Kelly Coffey: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Or pick up the phone and call. And so when I shifted, you know, everybody in our industry used blackberries. And we were all really good with our thumbs typing with blackberries. And we've now shifted to iPhones. There are a good group of people that still like the blackberry, but I made the shift to iPhones, even though I'm not very good at typing on it because I figured shorter emails were better and I'm much more likely to just pick up the phone and call a person instead of drafting an email because it's a little bit more of a pain for me to do it on an iPhone. I think that's a good thing.”
2016-04-29 · Masters in Business · Interview With Kelly Coffey: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“I think it's adopted. I guess what I would say about technology is I love the flexibility it affords us. I don't love that so much is done on chat and on email, honestly, because I do think, and I'm sure you've seen this, somebody can misinterpret an email that you very easily very easily.”
2016-04-29 · Masters in Business · Interview With Kelly Coffey: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“It was sort of no. You're in jeans. I think that's somewhat superficial, but I think it manifests itself in terms of our openness to who is in the organization, women moving along. I think that's all part of the same. There's much more opportunity to express your personality in our industry than there was when I started.”
2016-04-29 · Masters in Business · Interview With Kelly Coffey: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“We're on the radio, but I'm in a bright blue dress today with boots. When I started at JP Morgan in 1989, I never would have worn anything like this.”
2016-04-29 · Masters in Business · Interview With Kelly Coffey: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Specifically for women. Okay. Well, I would say just a general point that I think is also very positive for women. Just think about the use of technology today versus when we started. When I started, and I was covering Latin America, not only did I have to finish my model, but I actually had to fax it to the client overnight. And it would cut off at least 10 times. I had at least another hour or two in my schedule at the office. To fax And because at two o'clock, three o'clock in the morning, who's going to do that for you? When you think about what Blackberry did for us and now iPhones, where I can be anywhere and responding to what I need, I think it gave people a lot more flexibility. And I think that along with some of the technology, just even the way those companies have operated has even made our industry much more fluid. I mean,”
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 I've seen that research. I think it's interesting. I can say that in general, and this is obviously a gross generalization, women tend to be calmer in their reactions to things. And I know with myself, when something's going, you know, when the market's going crazy, when we have to make a decision, I get incredibly calm because that's the way I need to think and process to make that decision. And I think that's not always the case with some of the male counterparts in the past. So maybe you make better decisions when you're calm.”
2016-04-29 · Masters in Business · Interview With Kelly Coffey: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“And I think at JP Mormon, we've seen that a bit because if you look at our organization, you have Mary Erdos who runs asset management, our CFO, Marianne Lake as a rock star, our chief marketing officer, Kristen Lemkow is incredible. Aaron Hill runs all of the branches, our branch network. And so we have some women in really visible big jobs. That I think give people that who need that, there is a track to get there. And I can do it while still having kids and having a life and all the other things that are important. I think that is helpful.”
2016-04-29 · Masters in Business · Interview With Kelly Coffey: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Want to see that Yeah, and I think there's some truth to that. I have found when I first ran our derivatives marketing group, I remember coming in and there were very few women in the group. And a couple of them that were in the group I knew probably shouldn't be. And what I did was actually make it a conscious effort to sit down and think about who can we pull in and enlist the men, the great men that work for me. I turned to one of them, jokingly said today, you're either going to learn a lot about shoes or you're going to help me recruit some really amazing women to work with us. And he did. He said, I'm going to do that. And when I shifted to run something else, we were over 50% female. I found that if you got to critical mass, it took care of itself.”
2016-04-29 · Masters in Business · Interview With Kelly Coffey: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“And the way she probably meant that is when you want to think about how you can do things, most people need to see somebody who's succeeded to do that. There's no correction.”
2016-04-29 · Masters in Business · Interview With Kelly Coffey: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“They make it So women sometimes need a little bit of a push To say, you know what, be ambitious. You can do this. You'll figure it out. I wouldn't be offering it to you if I didn't think you could do it, and I couldn't help you do it. And so there's an element of that.”
2016-04-29 · Masters in Business · Interview With Kelly Coffey: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“A good question. One of my colleagues always refers to me as the spotted owl. Okay. But I actually think at JP Moore, we have a pretty incredible group of people. You know, I don't know that I can put pinpoint what exactly is the issue. You know, I think that we've done, I think what it takes to actually. Help women advance first of all, they have to be interested. And then, second of all, they have to have advocates. And we've done a number of different things I have, whether it's at the investment bank, in the women's network, or in my current business now where I sit and talk to women. There are some who come into my office. And I'll say I want to give them a promotion or give them a bigger job. And their first response to me sometimes is, well, I'm not sure I'm ready for that.”
2016-04-29 · Masters in Business · Interview With Kelly Coffey: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“It is. It is. I mean, JP Morgan serves the whole spectrum between Chase and we coordinate very closely with that. And the idea is to basically say, this is the client, this is what they need, which is not only delineated by their balance sheet, by the way, as you know. It's really what do they need advice on? And then let's make sure we're getting that right advice to them the way they want it.”
2016-04-29 · Masters in Business · Interview With Kelly Coffey: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“The private bank is actually a microcosm of the entire Firm because when you think about who we do business with, it's extremely wealthy clients who probably they might be business owners. My business doesn't plug into to make sure I'm getting the best of JP Morgan for each of those clients. So it is really like a bank.”
2016-04-29 · Masters in Business · Interview With Kelly Coffey: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, I think Argentina, they do have enough of a market internally, and if the government does this right, I think it can work beyond that.”
2016-04-29 · Masters in Business · Interview With Kelly Coffey: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Everybody spoke English in those meetings. Of course, I became fluent in Spanish, but yeah, a lot of those business is done in English. And it was interesting, even though even in Argentina, our English, we would have held the meetings in Spanish verbally, but all of our presentation materials were in English.”
2016-04-29 · Masters in Business · Interview With Kelly Coffey: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“It helped. I mean, of course, now I'm fluent in Spanish. I spoke French when I went there. But it did. I think my undergraduate degree and my graduate degree particular in international affairs from Georgetown, it taught you how to take really complicated things and distill them down to the essence. And there's an analytical part of that. Not all of that is numbers. And I think it did help me, particularly when we were negotiating and you had the French, the Italians, the Argentine, and the Americans us trying to agree on something in a consortium as joint owners. I think it served me well in some of those meetings.”
2016-04-29 · Masters in Business · Interview With Kelly Coffey: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“So I went there when Menem was president. Kavallah was the finance minister who was a rock star in my eyes. And they had put in place something called convertibility. They pegged peso to the dollar one for one. And then we were helping with the privatization program. So JP Morgan together with the French and the Italian in a local company called Perez Compan bought the phone company in the north of Argentina. And we financed it and then we ultimately took it public. But I was pulled down there to work on that and I stayed for about five years.”
2016-04-29 · Masters in Business · Interview With Kelly Coffey: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“25 years ago, probably. I started in corporate finance and MA. Because it was what I knew, and I thought that would be the best part. It was a fantastic place for me. I loved building models. And pretty quickly in that, I was asked to move to Argentina. For us, when Argentina was privatizing its industry. So we actually hopefully we're going into that kind of phase of Argentina today with Makri.”
2016-04-29 · Masters in Business · Interview With Kelly Coffey: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“I could go to the funeral. Let's hope not we're at that. We don't go to that funeral or go to Wall Street. And I thought, since I didn't do an MBA that I should get just some grounding in finance, so I went to JP Morgan because they had a great training program. I met some fantastic people and I would do it for a couple years.”
2016-04-29 · Masters in Business · Interview With Kelly Coffey: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, I think I'm an accidental entrance into this career. My undergrad degree, as you said, and my graduate degree is in international affairs. I wanted to study the world and how it worked. And that was always fascinating to me. My other choice for my undergraduate major would have been math. But at 18 years old, I couldn't figure what I would have done with a math degree, so I just studied that. Who needs math anyway? Who needs math, right? And so when I was coming out of Georgetown, I had a decision to make. I could have been, interestingly, an observer at the 1992 European Integration Talks. pre the euro and all of the things that we're talking about will it become dismantled today and you must have”
2016-04-29 · Masters in Business · Interview With Kelly Coffey: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source