What a Managing Director at Wells Fargo Wishes They Had Known Before Entering the Corporate and Investment Banking Industry
Eric, a Managing Director at Wells Fargo, learned that the corporate and investment banking industry values diverse thinking styles, contrary to initial perceptions favoring extroverts; "it's okay...you have a spot, you belong." This realization highlights the importance of diverse team composition, where individuals with varying approaches – "top down" versus "bottom up" – complement each other's strengths.
Executive/Leadership, Teamwork, Communication, Overcoming Challenges, Industry Realities
Advizer Information
Name
Job Title
Company
Undergrad
Grad Programs
Majors
Industries
Job Functions
Traits
Eric Frandson
Managing Director, Corporate & Investment Banking
Wells Fargo
UC Berkeley
UC Berkeley, MBA
Anthropology, Sociology
Finance (Banking, Fintech, Investing)
Sales and Client Management
Scholarship Recipient, Took Out Loans, Worked 20+ Hours in School, Transfer Student
Video Highlights
1. There is space for both introverts and extroverts in the industry, although extroverts may initially have more opportunities.
2. Individuals with diverse skill sets and thinking styles are needed; it's valuable to have both detail-oriented and big-picture thinkers on a team.
3. The ability to approach problems from different perspectives (top-down vs. bottom-up) is a strength and is important for team diversity.
Transcript
What have you learned about this role that you wish someone would have told you before you entered the industry?
I think I would say I would start with, "I'm an introvert, right? That's my sort of default versus extrovert." What I've learned is that there's plenty of space in this work for both personality styles and both thoughts.
Extroverts tend to succeed and get opportunities first. That's just the tendency. But introverts also, longer term, tend to catch up. Knowing that going in, it's okay, you have a spot, you belong in this.
Nobody told me that. I just learned that by being in the business for a while. Similarly, there are people I work with that are geniuses about accounting, financial analysis, or a specific product, like capital markets.
I bring something different to the team. I am grateful for their deep expertise. I tend to be stronger in some areas that others couldn't be bothered by, aren't interested in, or don't have the patience for. Whereas to me, it's natural.
This has to do with the psychology, the macro wiring in my brain to look at fact patterns and situations. So I'm kind of a top-down person, whereas others might bring a bottom-up approach.
We need all of that, and designing teams so that you have diversity in how your brains are wired is just as important as other kinds of diversity. That was a real relief. So, knowing that earlier would have been [unclear].