The financial industry has had a reputation for being a stronghold of tradition and privilege, sometimes at the expense of women and minorities. As first vice president at Morgan Stanley, Nancy Glassman ’86 (Visual Arts; Anthropology) has set out to prove she’s capable and caring, while safeguarding what her clients have built financially over the course of their lives.
“My biggest professional success has been making it in a male-dominated field,” said Glassman. “In my first job I was just ‘that girl over there.’ I was a novelty. We weren’t allowed to wear pants and a lot of the meetings were held in places we weren’t welcome.”
Glassman has only worked with a handful of women in the business over the course of her decades-long career. She moved to Morgan Stanley from UBS Investment Bank after 24 years in the industry.
“I took the mommy route and then I had cancer. It holds back your work time,” said Glassman. “But Morgan Stanley has been committed to improving the representation of women at all levels for several years, and there’s now a lot of camaraderie. Most of the diversity that I’m seeing is really bringing women into
the mix.”
There are a number of academic studies showing gender diversity makes good business sense, giving companies that are more gender diverse a competitive edge over less diverse competitors. The research also points to the fact that representation is not enough. Companies also have to have empowerment.
“They need women in leadership roles that are impactful,” said Glassman. “Equality means you’re standing amongst the men at their level.”
Before entering financial services, Glassman worked in corporate accounting in commercial real estate. She is a certified financial planner professional and obtained certification in 2004. She has gone on to become a portfolio manager and wealth advisor.
“Women tend to hold more of the professional certifications because we still need to prove that we’re smart,” said Glassman. “They still ask us to take the notes. I sometimes can’t believe that I’m still setting the table straight.”
A recent empty nester, Nancy Glassman ’86 (Visual Arts; Anthropology) lives on New York City’s Upper East Side. She returned to New Paltz in spring 2018 to join other well-accomplished alumnae for the Women’s Leadership Summit, the annual program presented by the SUNY New Paltz Foundation, where speakers offer advice to student attendees on transitioning from college to the workforce.
