Being a first-time CEO can be a daunting transition filled with risk and opportunity, something that TCW Group President and CEO Katie Koch has experienced firsthand. In today’s episode, Clarke and Hoda talk with Katie about her career journey in the financial industry, from her early years as an intern at Goldman Sachs to becoming a first-time CEO at TCW.
She shares what it takes to be a good leader and the skills needed to make tough decisions and take people where they may not want to go, including empathy, asking questions and listening, discipline of process, and the importance of having a great coach. She also shares her thoughts on how to navigate volatile global markets and the inherent friction of AI and business transformation.
We'll also hear from Sean Dineen, a Managing Director in our Boston office, who will outline what it takes to succeed in the first few days and months as a new CEO.
Katie Koch
President and CEO of TCW Group
Ms. Koch is President and Chief Executive Officer of TCW and serves as a member of the Board of Directors. In this role, she is responsible for the strategic direction and overall day-to-day management of the Firm. Prior to joining TCW in 2023, Ms. Koch spent 20 years with Goldman Sachs in the Asset Management Division (AMD), where she was a Partner and most recently served as Chief Investment Officer of the $300 billion Public Equity business and as a member of the AMD executive committee. Previously, she was based in London for 10 years where she held several leadership roles including Head of the Multi-Asset Solutions business internationally.
Ms. Koch currently serves as a board member for Nasdaq Inc., the University of Notre Dame’s Board of Trustees, The Investment Fund for Foundations (TIFF), The Investment Company Institute (ICI), the Toigo Foundation and The Spence School. She also serves as a Co-Chair of the University of Notre Dame Wall Street Leadership Committee and the advisory board of the Notre Dame Institute for Global Investing (NDIGI). Ms. Koch was named a Young Global Leader with the World Economic Forum.
Ms. Koch earned her Bachelor of Arts degree in Economics and Literature at the University of Notre Dame.
My mom would say, ‘What decision would you make if you knew you wouldn’t fail?’ And that framing allowed me to take chances and risks that I otherwise wouldn’t have taken.”Katie Koch,
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Empathy is one of the greatest skills you can possess as a leader today. It’s at the heart of building successful teams and cultures.
The decisions you make as a leader won’t always be easy or popular. It’s important to be brave, and to do the right thing for your organization and its customers.
The value an executive coach can bring—especially when it comes to guiding leaders’ decision-making.
If organizations hire CEOs based only on proven experience in the role, it’s tough to get different types of leaders in the top seat. Organizations need to be open to hiring first-time CEOs.
8:03 - Who influenced Katie to take risks.
13:32 - Why leadership is often about taking people where they don’t want to go.
14:23 - How to become a successful first-time CEO.
20:11 - What it’s like to run an employee-owned company.
29:54 What it means to lead in volatility.
31:11 - The three leadership qualities that are key to successful investing.
38:36 - How partnering with AI engineers at Microsoft has helped TCW uncover AI use cases