Goldman Sachs Group Inc. has named Nicole Pullen Ross regional head of the bank’s private wealth-management arm in New York. The Goldman Sachs Group, Inc. is an American multinational investment bank and financial services company headquartered in New York City and is ranked 62nd on the Fortune 500 list of the largest United States corporations by total revenue and has more than $500 billion in assets under supervision.
It offers services in investment management, securities, asset management, prime brokerage, and securities underwriting. Goldman Sachs was founded in 1869.
Ross becomes one of the bank’s highest-profile black female executives at a time when racial injustice is taking center stage in the national conversation. The U.S. has been roiled by a week of protests following the death of George Floyd while in police custody in Minneapolis.
Nicole Ross, 48, joins the New York division from her current role as head of the Mid-Atlantic region, where she has overseen offices in Philadelphia and Washington since 2011. She started with Goldman in 1998 and worked as a wealth adviser in the New York office for 13 years.
She succeeds Gary Giglio, 53, who’s stepping down July 1, the company said. Giglio, a 26-year veteran of the firm, has led the New York division since 2007. He’s leaving to focus on charitable causes, including LGBTQ and veterans’ issues, the bank said.
Ross also heads a Goldman initiative to handle wealth management for athletes and entertainers. While the services offered are more specialized, she said their needs don’t differ dramatically from traditional private-banking clients.
“Most of the issues are the same,” she said. “They’re entrepreneurs and they’re similar to our entrepreneurial clients who’ve spent their life crafting their skill.”
Given their name recognition, more emphasis is placed on risk management and fraud prevention, she said. The strategies are also tailored to maximize earning windows and ensuring wealth can endure over a lifetime.
In two decades of wealth advising, Ross said she’s seen shifts in the diversity of clientele, which has traditionally been older, white and male. Women entrepreneurs are more common, she said, as are multigenerational families making joint decisions and nonprofits serving diverse communities.
Wishing her a ton of success in her new role.
Great to see black women in such high positions
Nice !