The Compound and Friends

Ladies and Gentlemen, Mr. Harvey Schwartz

24 snips
Dec 27, 2024
Harvey Schwartz, CEO of Carlyle and former president of Goldman Sachs, shares his extraordinary journey through the financial industry. He reveals how he transitioned from a fitness instructor to a finance titan and the crucial lessons learned during the 2008 crisis. Schwartz discusses the evolution of Wall Street, the rise of private equity, and how mentorship shaped his path. He also highlights the competitive edge of Carlyle in today's market, emphasizing the importance of adaptability and relationship-building in wealth management.
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ANECDOTE

Early Career Challenges

  • Harvey Schwartz started his career cold-calling at a municipal bond shop.
  • He wasn't successful initially, highlighting the challenging nature of sales.
ANECDOTE

1987 Crash Lesson

  • On his first day cold-calling during the 1987 market crash, most clients hung up.
  • Witnessing a colleague's emotional distress taught him about market volatility and vulnerability.
ANECDOTE

Mentorship and Angels

  • Mentors and "angels" played a crucial role in Schwartz's career.
  • A woman helped him get into Rutgers, and another person at Citibank guided him to a training program.
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