YouSaid · the spoken record

Kristen Bitterly Michell

lines on the record: 110
first: 2022-09-09
most recent: 2022-09-09
sittings or episodes: 1
sources: podcast

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“Looking back, you learn from every experience, but I think that's one of those moments in time where you're like, if something is too good to be true, it probably is too good to be true. And questioning why something is yielding the amount that it's yielding. And so living through that experience, I mean, from a personal standpoint”
2022-09-09 · Masters in Business · Kristen Bitterly Michell on Wealth Management · IDENTIFIED FROM THE TRANSCRIPT · source
“You can see credit spreads widen, and it's something you people are like, wow, that's great, right? They're willing to pay me more now. I'm getting a higher yield on this. And so I think.”
2022-09-09 · Masters in Business · Kristen Bitterly Michell on Wealth Management · IDENTIFIED FROM THE TRANSCRIPT · source
“We were helping people customize their risk return profile across asset classes is the way that I think about it. And so there's definitely a pre and post. I mean, when you look at that.”
2022-09-09 · Masters in Business · Kristen Bitterly Michell on Wealth Management · IDENTIFIED FROM THE TRANSCRIPT · source
“Market timing was 2007 the best time to make a move, but it ended up being a perfect time actually long term for my career. And so coming into city, a lot of changes right on the brink of the great financial crisis. And the one challenge there, Barry, was the fact that we were selling these products and solutions that actually were extremely relevant given market conditions. But obviously, protecting your wealth, hedging downside risk, providing liquidity, helping people navigate margin calls, but obviously it was a really challenging environment. A lot of market volatility and anything that had the counterparty of a large bank was not something that was going to go over well.”
2022-09-09 · Masters in Business · Kristen Bitterly Michell on Wealth Management · IDENTIFIED FROM THE TRANSCRIPT · source
“Really challenged your own understanding of these strategies because these were clients that some of them were very sophisticated when it came to financial products. Some of them it was their first experience. They had a big liquidity event, they sold their company to another company. Their company just went public. And it's the first time that they're talking about options, right? And strategies to hedge. Exactly, to be able to hedge, maintain wealth, monetize wealth. And so this ability to either go super technical with someone who was an expert in that field and also be able to roll it back and just explain at a very high level, you know, what is the purpose of this strategy? What is it helping you do? What could go wrong? And so ultimately, given the different types of client segments that I'd covered, I made the decision that I really wanted to be in wealth management. And so 2007, I came over to City. My husband always teases me on this point that he says, you know, aren't you in some aspects kind of a trader? And when you think about more...”
2022-09-09 · Masters in Business · Kristen Bitterly Michell on Wealth Management · IDENTIFIED FROM THE TRANSCRIPT · source
“Sure. So I'll tell you a little bit about how I came to City. So I spent a long time in markets, like I said, big focus on derivatives, both on the sales as well as structuring side. I covered corporate clients, institutional clients, as well as ultra-high net worth and high net worth clients at the time when I started really focusing in that part of the industry. A lot of those corporate equity derivative teams, they covered both. They covered individuals as well as the corporations. And so throughout that journey and covering different regions, different types of clients, I found that with the high net worth ultra-high net worth clients, you developed a much stronger relationship. So this was a part of the market that”
2022-09-09 · Masters in Business · Kristen Bitterly Michell on Wealth Management · IDENTIFIED FROM THE TRANSCRIPT · source
“I was very lucky to have amazing mentors, amazing people around me who really taught me about the business, taught me about markets. And once I started making that translation in my mind that it's just a different language. It's different vernacular. Like when you think of derivatives, it's like statistics, right? If you have a base foundation in statistics, it's just translating those different concepts to a new language. I very quickly fell in love with it. I fell in love with equity derivatives. I thought they were amazing building blocks. And a really creative part, and it was this combination of being, like I said, kind of geeky, kind of quantity, but then being client-facing. And so that was really kind of the early formation where I'm like, this is the area where I want to be. I want to be client-facing. I want to help clients solve problems. But having this very creative, almost modular part in terms of designing solutions and structuring solutions, I loved.”
2022-09-09 · Masters in Business · Kristen Bitterly Michell on Wealth Management · IDENTIFIED FROM THE TRANSCRIPT · source
“Get more assets in the door to credit risk, and ultimately to make a very long story short, I fell in love with derivatives. So derivatives were a part where I was very intimidated. I wasn't that typical person that did a number of internships during the summer. Applied mathematics. With no, I was econ and kind of geeky. I love statistics. I loved math. But really, I was going to go down that literature route more than anything else and study Spanish literature. And so when I arrived and got this exposure and on-the-job training, I really challenged myself to do the thing that I thought was going to be the scariest. And so derivatives at the time seemed like the scariest, the scariest area. And so I said, all right, at six months, let's see. Let's see how this goes. And so it was within the corporate equity derivatives team.”
2022-09-09 · Masters in Business · Kristen Bitterly Michell on Wealth Management · IDENTIFIED FROM THE TRANSCRIPT · source
“It's really interesting because I'm not someone that you would think would be the typical profile to end up in capital markets or sales and trading. From a very small town in the middle of Pennsylvania, it's a town of about 4,000 people. So exposure to markets or investment banking or any of the careers in finance was not something that you really envisioned. And so coming out of school, I studied economics and Spanish literature and I applied to a program that actually targeted liberal arts majors. It was at bank one at the time. It was called the First Scholars Program and they targeted liberal arts majors and the whole concept of it was why don't we take liberal arts majors, give them on the job training, give them exposure to a variety of different areas of banking and finance. And so this gave me exposure to everything from investment banking to retail, looking at checking account campaigns, like how do you”
2022-09-09 · Masters in Business · Kristen Bitterly Michell on Wealth Management · IDENTIFIED FROM THE TRANSCRIPT · source
“Revenue Really has an incredible background in. Everything from Found this to be From Inflation How to manage investments when markets are”
2022-09-09 · Masters in Business · Kristen Bitterly Michell on Wealth Management · IDENTIFIED FROM THE TRANSCRIPT · source