story is to say, you have to get out and get
What other advice would you give to
involved in things. And sometimes you’re
led down a path that you didn’t anticipate.
You’ve got to make the most out of the
opportunities that are thrown at you.”
Here are some highlights from our
Get involved in finance. Join an investment club [at school]. It’s a great wayto distinguish yourself. There are a lotof firms looking to diversify, and if youhave the ability and like numbers, [ourbusiness] is the area to get into.
Our industry is dying for women.In terms of being a portfolio manager,someone who interfaces with clients,women have very good soft skills. Thatcan be coupled with technical skillsand that becomes a wonderful relationship manager.
Also, learn how to play golf becauseif you don’t, you’re locked out of a lotof opportunities to get to know peoplein a different way. [Today] if I called [apotential client] for lunch, I get a halfhour. If I say, ‘Let’s play golf,’ I get fourhours together without a cell phone.And it really deepens a relationship.
Have your clients reacted (or overre-
acted) in the pandemic?
Actually, the work with institutionsand individuals should have been donebefore; that is, the conversation of howmuch cash do you have, how much cashflow do you need, and what’s the rightbalance between stocks, bonds and cashin your portfolio.
We probably lost less than a handfulof clients that liquidated at the bottomof the market in March 2009, out ofabout 2,400 accounts.
Today we have close to 6,000 accounts.We’ve had some people liquidate a portion of their portfolio, and maybe less thana handful liquidated their entire portfolio.
By the way, everybody says they are a
long-term investor. I’ve always laughed
and said, ‘They are long-term until they
get their first monthly statement in a
And when the market went down 37%
in six weeks [earlier this year], that was
astonishing. Nobody’s ever seen it go
down that fast in our lifetimes.
Ginger Szala can be reached at firstname.lastname@example.org.
For more information: 1-866-403-5447
If You Owned a U.S. Dollar LIBOR-Based
Instrument Between August 2007 and May 2010
You May Be Eligible for Payments from $21.7 Million in
There are Settlements with Barclays, Bank
of America, Citi, HSBC, and JPMorgan
(“Settling Defendants”) that impact
individuals and institutions that entered
into over-the-counter financial instruments
directly with Ally, American Express,
Bancwest, Bank of New York, BB&T,
BBVA, BMO Harris, Capital One, Fifth
Third, Goldman Sachs, Harris Financial,
Keycorp, M&T, Metlife, Morgan Stanley,
Northern Trust, PNC, Regions, State
Street, Suntrust, TD Bank, Unionbancal,
U.S. Bancorp or Wells Fargo, including
their subsidiaries, affiliates, predecessors
and successors (“Financial Institutions”).
The financial instruments include interest
rate swaps, forward rate agreements, asset
swaps, collateralized debt obligations, credit
default swaps, inflation swaps, total return
swaps, options, and floating-rate notes.
The litigation claims that the banksmanipulated U.S. Dollar LIBOR duringthe financial crisis, artificially loweringthe rate for their own profit, which resultedin purchasers receiving less interest thanthey otherwise would have. The SettlingDefendants deny all claims of wrongdoing.
Am I included?
You are included in the Settlements if you(individual or entity): Transacted with aFinancial Institution in the United States ina U.S. Dollar-Based Instrument (as definedin the Settlements), which you owned oron which you otherwise received interestbased upon U.S. Dollar LIBOR at any timebetween August 2007 and May 2010.
What do the Settlements provide?The Settlements will pay eligible classmembers who submit valid claims.Additionally, the Settling Defendantswill cooperate with the Plaintiffs in theirongoing litigation against the Non-SettlingDefendants.
How can I get a payment?
You must submit a Proof of Claim to get apayment. You can submit a Proof of Claimonline or by mail. The deadline to submit aProof of Claim is January 3, 2021. You areentitled to receive a payment if you havea qualifying transaction with a FinancialInstitution. At this time, it is unknown howmuch each class member who submits avalid claim will receive.
What are my rights?
If you are a member of the class and youdo not file a timely claim, you will loseyour right to receive money or benefitsfrom the Settlements. If you would liketo retain your right to file your ownlawsuit against Settling Defendants, youmust opt out by August 31, 2020. If youremain a party to the Settlements, youmay object to the Settlements by August31, 2020. The Court will hold a hearingon October 5, 2020 to consider whetherto approve the Settlements and approveClass Counsel’s request of attorneys’fees of up to 33% of the SettlementFunds, plus reimbursement of costs andexpenses. You or your own lawyer mayappear and speak at the hearing at yourown expense.