THE SHOW IS FOR ALL AGES, STAGES
AND FOR PEOPLE IN ALL
INDUSTRIES.
MY GUEST IS CARLA HARRIS, VICE
CHAIRMAN OF MORGAN STANLEY
WEALTH MANAGEMENT.
DURING THE BANK IN 1987, ROSE TO
THE RANKS AND ONE OF THE MOST
POWERFUL PEOPLE ON WALL STREET.
TWO YEARS AGO SHE STARTED
INVESTING IN THE NEXT CROP OF
BILLION-DOLLAR IDEAS.
SHE AND HER TEAM ARE LOOKING FOR
THE NEXT FACEBOOK, GOOGLE,
NETFLIX SHE'S LOOKING AT A PLACE
WHERE MOST OF SILICON VALLEY IS
NOT.
SHE'S BACKING FEMALE IN
MULTICULTURAL ENTREPRENEURS.
WE STARTED A CONVERSATION ABOUT
HER FIRST TWO STEPS ON WALL
STREET.
>> I WAS AFTER - I WAS CALLED IN
A SPONSOR FOR EDUCATIONAL
OPPORTUNITY AND THE PROGRAM WAS
CREATED TO EXPOSE TALENTED GIVE
THE COLOR TO WALL STREET AND IN
HOPES THAT THEY WOULD BUILD A
PIPELINE INTO THE NEWLY CREATED
PROGRAM.
EVERY PERSON I MET WAS A LITTLE
DIFFERENT IN THE LAST PERSON
THAT I MET.
THAT SAID TO ME THERE'S A LOT OF
DIFFERENT EQUATIONS THAT EQUAL
SUCCESS IN THIS ENVIRONMENT.
SURELY THERE MIGHT BE ONE FOR M
ME.
DEIDRE: IF YOU HAD TO DESCRIBE
YOUR JOB TO A SEVEN -YEAR-OLD,
BREAK IT DOWN INTO LEGAL PARTS
WHAT WOULD YOU SAY?
>> I WOULD SAY MY JOB IS TO TRY
TO PRESENT THE COMPANY, MORGAN
STANLEY, IN THE BEST WAY TO GET
MORE INDIVIDUALS AND
INSTITUTIONAL CLIENTS TO DO
BUSINESS WITH MORGAN STANLEY.
THAT MIGHT NEED I'M GIVING A
KEYNOTE ADDRESS IN FRONT OF
1,000 PEOPLE OR THAT MIGHT MEAN
I'M SITTING DOWN WITH SOMEONE
WHO OWNS A BUSINESS AND WANT TO
FIGURE OUT A WAY TO HELP IT GROW
EITHER TO THE PUBLIC MARKETS OR
A PRIVATE SELF OR THAT MIGHT
MEAN SPENDING TIME WITH OUR
EMPLOYEES INTERNALLY, TRAIN THEM
ON RELATIONSHIP BUILDING OR HOW
TO USE TECHNOLOGY MORE
EFFECTIVELY.
ANYTHING THAT WILL CREATE MORE
CUSTOMERS FOR MORGAN STANLEY.
DEIDRE: I'M IMAGINING YOU ARE
THE ONLY WOMAN IN THE ROOM AND
NUMEROUS INSTANCES.
PERHAPS THE ONLY
AFRICAN-AMERICAN IN THE ROOM AND
NUMEROUS INSTANCES.
WHAT IS THE ADVICE YOU WOULD
PASS ALONG TO PEOPLE WHO STILL,
EVEN 30 YEARS LATER, MAY FIND
THEMSELVES IN YOUR SHOES?
>> WHENEVER YOU ARE THE ONLY
PERSON IN THE ROOM TO LOOK LIKE
YOU YOU HAVE AN ADVANTAGE.
DEIDRE: SOME PEOPLE FEEL
INSECURE AND FEEL LIKE IT THAT
DISBANDED.
>> THAT'S RIGHT.
THAT'S WHY UPDATE MY ADVICE IS
TO REMEMBER THAT WHEN YOU'RE THE
ONLY ONE IN THE ROOM YOU HAVE AN
ADVANTAGE BECAUSE EVERYONE ELSE
LOOKS LIKE EACH OTHER AND THEIR
VYING FOR THE ATTENTION.
YOU LOOK DIFFERENT AND EVERYONE
WILL LOOK AT YOU.
EVERYBODY WILL BE LISTENING.
ALL YOU HAVE TO DO IS DELIVER
YOUR EXCELLENCE RIGHT INTO THE
OPENING.
DEIDRE: WHAT YOU SEE THAT IS
CHANGED EITHER FROM STAFFING OR
OTHERWISE IN FINANCIAL THE
NUMBER ONE CHANGE?
>> DESPITE THE FACT THAT WE
STILL DON'T HAVE ENOUGH WOMEN
AND PEOPLE OF COLOR IN POSITIONS
OF LEADERSHIP AND AUTHORITY
THERE ARE MORE THAN THERE WERE
IN 1987.
IN 1987 I COULD NAME EVERY
SENIOR WOMAN AT EVERY FIRM ON
THE STREET AND MIND YOU THERE
WERE MORE FIRMS THAT EXISTED
BACK THEN.
I COULD NAME EVERY PERSON OF
COLOR THAT WAS IN A SENIOR
POSITION.
I CAN DO THAT TODAY WHICH MEANS
THERE ARE MORE.
I STILL THINK WE HAVE A LONG WAY
TO GO BUT THAT'S THE NUMBER ONE
THING THAT HAS CHANGED.
DEIDRE: YOU HAVE A LOT OF
RESPONSE ABILITY FOR LONG TIME
AND WHAT WOULD YOU SAY AND THESE
ARE SOMETIMES QUESTIONS I GET IN
RESPONSE TO THE SHOW FOR WOMAN
IN HER 40s WHO JUST ABOUT TO
BREAK OUT TO A SENIOR LEVEL,
CAN'T QUITE - LET'S SAY SHE'S
NAVIGATED SO WELL FOR SO LONG
BUT CAN'T QUITE GET TO THAT NEXT
STEP.
WHAT WOULD YOU SAY?
>> CHECK YOUR RELATIONSHIP
CURRENCY.
THERE ARE TWO TYPES OF CURRENCY
IN ANY ENVIRONMENT.
PERFORMANCE AND RELATIONSHIP.
IF YOU GOT IT RIGHT THERE TO
WHAT YOU PROCEED AS A FEELING
YOUR PERFORMANCE CURRENCY IS
PROBABLY INTACT?
IF YOU'RE HAVING TROUBLE PICKING
THROUGH THE MEANS YOU PROBABLY
HAVE NOT MADE THE RIGHT
RELATIONSHIPS AROUND THE
OPPORTUNITY THAT CAN THEN PUSH
YOU RIGHT THROUGH.
WHEN YOU GET TO THAT STAGE IT'S
NOT ABOUT THE PERFORMANCE BUT
ALL ABOUT WHO'S IN THE ROOM WHEN
THE DECISION IS BEING MADE AND
WHO KNOWS YOU WELL ENOUGH TO
SPEND SOME OF THEIR CURRENCY ON
YOUR BEHALF.
THAT'S WHAT IT WILL TAKE.
IF YOU CAN'T PUSH THROUGH, STEP
BACK AND SAY WHO IS IN THAT ROOM
AND WHO DO I HAVE RELATIONSHIPS
WITH AND WHO DON'T I HAVE
RELATIONSHIPS WITH?
I NOW NEED TO TAKE HARD-WORKING
ENERGY AND REDIRECTED INTO
INVESTING IN THESE RELATIONSHIPS
AND THAT WILL MAKE THE
DIFFERENCE.
DEIDRE: WHAT IF SOMEONE IS
AFRAID HE OR SHE WILL BE
PUNISHED FOR BREAKING RANKS?
>> THAT'S THE IMPORTANCE OF
BUILDING RELATIONSHIPS.
THE ENTIRE WAY THROUGHOUT YOUR
CAREER.
WON'T LOOK LIKE YOUR BREAKING
RANK.
IF YOU HAVE NOT DONE THAT AND
YOU WANT TO START DOING THAT
SOMEONE SAYS WHY ARE YOU TALKING
TO JIM?
SAY I THOUGHT WE SHOULD HAVE
RELATIONSHIPS ACROSS THE BOARD.
IS THERE A PROBLEM?
AND THAT PERSON WILL NEVER TELL
YOU NOT TO DO THAT.
IF THEY DO, THEN NOW YOU KNOW
THAT PERSON IS AND SCARE AND NOW
YOU KNOW HIM TO BE MORE CAREFUL
BUT THAT'S ALL THE MORE REASON
YOU SHOULD BUILD RELATIONSHIPS
ON THE PERSON.
DEIDRE: BEST DEVICE YOU'VE EVER
BEEN GIVEN?
>> ACTUALLY, IT HAPPENED WHEN I
WAS A THIRD-YEAR ASSOCIATE.
ANOTHER SENIOR WOMAN SAID TO ME
CARLA, YOUR PROBLEM IS YOUR SO
QUICK TO SAY YOU DON'T KNOW AND
YOU JUST CAN'T SAY I DON'T KNOW
IN THIS BUSINESS BECAUSE PEOPLE
PAY MILLIONS OF DOLLARS FOR OUR
JUDGMENT.
SHE SAID DO IT LIKE THE BOYS DO
AND FREQUENTLY AND WRONG BUT
NEVER IN DOUBT.
I HAVE TO TELL YOU, THAT DID NOT
SIT RIGHT WITH ME BECAUSE I
COULDN'T IMAGINE MYSELF SAYING
SOMETHING WRONG BUT IT MADE ME
REALIZE THAT WHAT SHE WAS
TALKING ABOUT IS WHEN YOU ANSWE
ANSWER, ANSWER WITH CONFIDENCE.
I LEARNED TO EMBRACE THAT ADVICE
AND MAKE IT WORK IN AN AUTHENTIC
WAY FOR ME.
HERE'S WHAT I DID.
SOMEONE ASKED ME SOMETHING I
DIDN'T KNOW I WOULD ALWAYS TRY
TO GIVE AN ANSWER AND SAY HERE'S
WHAT I THINK THE ANSWER IS BUT
LET ME CHECK THAT.