Liberman shares her thoughts on the importance of networking and on what it takes to be a rising star.
The Investment Bank Women’s Network (IBWN) has selected Alla Liberman as J.P. Morgan’s 2008 Rising Star. As a Rising Star, Liberman will be honored at the Women’s Bond Club (WBC) Annual Merit Award dinner later this month in a ceremony attended by her J.P. Morgan colleagues and peers in the financial community.
A networking organization for senior women in finance, the WBC invites each corporate member to select a rising star that demonstrates leadership qualities and is expected to be a future leader in the financial industry.
“Her passion for trading is contagious. Alla is an incredibly creative, intelligent risk-taker who is constantly looking for ways to innovate and inspires those around her to think more rigorously about the markets,” said Managing Director Derek Kaufman, Liberman’s manager.
Additionally, Liberman actively participates in the IBWN and Women Who Trade (WWT). Managing Director Claudia Jury, co-sponsor of the IBWN Networking subcommittee, said, “Beyond her trading talents, Alla is genuine about her participation in helping to move the women's agenda forward within the IB.”
IB Wire caught up with Liberman to see how this newly promoted Managing Director found her way to the trading floor, her thoughts on the importance of networking and on what it takes to be a rising star.
Question: How do you feel about being nominated for the Rising Star Award?
Liberman: I’m really touched and honored. The Women’s Bond Club offers great networking and development opportunities for women. My nine year-old daughter is going to the dinner with me. It will be a great example for her to see how women can be successful in the banking world.
Q: Why is it important for women to be involved in employee networking groups? How has it helped you?
Liberman: Networking is very important for anyone. Networking helps you to build relationships with people outside of your immediate business and to establish valuable contacts across your organization and the industry. I strongly believe that networking not only opens doors to new opportunities, but also allows you to share information and thoughts with your colleagues, which makes you more successful in your role.
Personally, the IB Women’s Network and Women Who Trade (WWT) have enabled me to meet great women at J.P. Morgan, women I would not have otherwise met in my current position. I am better at my job today because of my interaction with these women. They have opened my eyes to a broader range of insights by being exposed to other areas of the IB.
For example, through WWT I have met women in foreign exchange, credit derivatives, emerging markets, and the chief investment office. We discuss ideas and we talk about the market. It gives me a whole new perspective when I’m on the trading floor.
Q: Do you plan on paying back, so to speak, the reward of networking and mentoring you have experienced?
Liberman: Absolutely! As a co-chair of WWT and a co-chair of the IBWN Networking subcommittee, there are a lot of women who come to me for advice. I try to go out of my way to help them and answer their questions. I think it is really important for junior women to see that women can build a successful career in the firm and have a family.
I’ve done a lot of recruiting for our analyst program and I’ve hosted dinners at my home for women analysts and summer interns. It is truly rewarding for me to do that.
Q: How did you get into investment banking?
Liberman: I studied finance and economics at NYU’s Stern School of Business. As I was attending school I worked as a part-time teller at Chase and moved into a part-time job in IB Operations. Working in Operations, I had the opportunity to go on the trading floors and fell in love with the environment. After graduating, I applied for the Markets training program. I did a few rotations in other groups, but the bulk of my career has been on the proprietary trading desk.
Q: What is your role at the bank? What was it that attracted you to trading?
Liberman: I am senior risk taker on the North America Fixed Income Proprietary Trading team. I'm responsible for U.S. relative value strategies using interest rate swaps, futures and treasuries. I also actively take risk in Canadian derivatives and government bonds.
What attracted me first to trading was the fast-paced, intellectually stimulating environment. I enjoy the everyday challenge of analyzing information and making quick decisions. Through time I have discovered that trading teaches you a lot about character building and integrity. I tremendously value that aspect of the job.
Q: Can you expand on the new risk-taking initiative in the Canadian fixed-income markets you are spearheading?
Liberman: Prior to 2007, the North America fixed income trading team had no presence in the Canadian market. I led the initiative of exploring a potential money making opportunity in that market.
Having to build everything from scratch made this an exciting project. It involved building models and trading tools specific to the Canadian markets, establishing relationships with liquidity providers in Canada and having numerous dialogues with economists to learn and understand the market. It was very rewarding to see this new initiative come to fruition and generate profits.
Q: What do you like about proprietary trading?
Liberman: In proprietary trading I get to make my own decisions. There is a lot of analysis and information that goes into my making a decision about the trades I’ve put on. I watch economic indicators and different markets – credit markets, FX, commodities. Plus, I like the pace at which the market changes. Right now one trend is important but next year it may be something else.
Q: What career advice do you have for women who aspire to be a rising star themselves?
Liberman: The most important career advice is to be flexible and open minded. Do not be afraid of changes and taking yourself out of your comfort zone. Let’s say that you’re an expert in your field, but you have hit a wall in your career growth. You need to have the confidence to say to yourself, “I’m very comfortable right now, but I’m willing to give it up and try something new.”
Also, you have to accept your own mistakes. In the early days of my career it was difficult for me to accept my own faults. In trading, especially, when you make a mistake you tend to think that the world is over. You have to admit to yourself, and others, yes, I was wrong and this is what I’m going to do to fix it. Learning from your mistakes is one the most important steps in advancing in your career.
Alla Liberman
Hometown: Kiev, Ukraine
Currently lives: New York City
Family: Married with three daughters
Out of the office: Skiing, opera, theater and travel
Last vacation spot: Japan
Next vacation spot: India
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