How Suzanne Shank achieved high status in the financial world
Despite significant progress, the financial world remains a conservative, male-dominated environment. It is still not easy for women to make their way on Wall Street, but some are breaking the mould. A prime example is Suzanne Shank, one of the most influential black women in finance. She ranks high on the prestigious Forbes 50 over 50 and USA Today’s Women of the Century lists. Her biography is remarkable.
Career path
Suzanne was born in Georgia to a teacher and a bus driver. At the time, the region was not friendly to African Americans, and the girl’s parents had to work hard. As an adult, Suzanne inherited their determination and hard work ethic, which helped her achieve success.
Shank learned to read at the age of 3 and excelled in maths and science at school. Her first speciality was engineering, and for a time, Suzanne worked for General Dynamics. However, she did not stop there and continued her education. After earning a master’s degree in finance, she tried her hand on Wall Street. For about nine years, Shank worked in investment banking, moving from one firm to another. Then, she met Muriel Siebert, who suggested they start a business together. Siebert Cisneros Shank’s investment banking firm was established in 1996.
Setting up the business was extremely difficult for the women. They wanted to succeed in a male-dominated field. However, Shank and Siebert managed to break through the glass ceiling and gain a high level of trust and credibility.
According to Suzanne, she had to work hard to prove her competence. She worked hard, always prepared thoroughly for meetings and was as focused and organised as possible. Her perseverance paid off. In time, she took over as president of the company.
In 2019, the company merged with The Williams Capital Group and transformed into a new company, Siebert Williams Shank & Co. The firm later became Shank Williams Cisneros & Co., and Suzanne took over as CEO and President.
The firm now offers a full range of investment and financial services:
– strategic advice;
– capital raising advice;
– risk management;
– equity and corporate debt work;
– investment activities.
The company is based in New York and has a strong position in the investment banking market.
Operating principles
Suzanne has a reputation for being a strong leader who can organise activities effectively. She focuses efforts on achieving goals and managing the team. Shank sees her partners in the firm as mentors and wants to be one for her staff.
Suzanne believes that a diversity of perspectives contributes to the firm’s growth. As a result, she attracts diverse people who are willing to develop their financial skills to the firm.
