Joan Paydenat 92 years old, has become one of the respected and richest women in the United States, according to Forbes, managing his own empire in the financial sector. His path to success is an inspiring story of determination, passion and commitment, which he began from his youth to becoming the head of one of the largest private equity managers in the country.
The woman was born in Derby, Connecticut in 1931, but spent much of his adolescence in Jakarta, Indonesiadue to the work of his father, an engineer and pilot of the First World Warwho worked for Union Carbide. After almost a decade in that country, the family returned to USA allowing Joan and her brother William to finish their high school studies in NY.
Young Payden attended the Trinity College in Washington DC, graduating in 1953 with a double degree in mathematics and physics, something unusual for women of the time. Her first work experience was as an engineer in an oil refinery construction company in New Jersey, where there were only four women among 600 engineers. However, she was fired after three years along with 300 colleagues in a massive staff cut.
Taking advantage of her knowledge in mathematics, the woman began working as a junior associate at Merrill Lynch, although with a salary significantly lower than his previous job. Two years later, she moved to Los Angeles to join Scudder, Stevens & Clarka prestigious investment manager where he specialized in fixed income.
Her talent and dedication led her, after multiple attempts, to become the first female partner of the firm, despite facing gender discrimination, such as not being invited to important meetings because they were held on golf courses exclusively for men.
In 1983, at age 52, Payden resigned from his position, emptied his 401(k) (a workers’ compensation plan) and, together with his colleague Sandra Rygelfounded Payden & Rygel. This risky bet allowed him to avoid the complacency and professional stagnation that he feared. In an industry dominated by giants like Fidelity and blackstonehis firm was distinguished by its personal approach and attention to fixed income and global markets.
“There are always concerns. When I created the company, I was worried about not getting clients,” he told Los Angeles Times. “But that was no problem,” he recalled.
Payden & Rygel It quickly consolidated, managing 2 billion in assets a few years after its founding. Over four decades, the firm has grown to manage 162 billion, with offices in Los Angeles, Boston, London and Milan. The firm has stood out for its global strategy and fixed income products, attracting wealthy clients, pension funds, central banks, and more.
Joan Payden Not only has he left a mark on the financial world, but he has also had a significant impact on education and philanthropy. He has donated millions to various causes and universities, including the creation of the Payden Academic Center in Trinity Washington University, his alma mater. With her generous support, she has helped transform the university and expand its STEM programs for disadvantaged students.
Although she has achieved success and wealth, the woman continues to work at 92 years old as president, CEO and majority owner of her firm. Her tireless dedication and “passion and commitment” philosophy have not only defined her career, but also the path to success for future entrepreneurs. With a net worth estimated at $700 million, she remains one of the most admired and respected figures in asset management in the United States.
“When you jump into the lake, you can’t think about drowning,” Payden told young people who want to start their own businesses and create their own path, noting that “the risk of ‘not doing’” far outweighs the risk of “doing it.” ”.
The story of Joan Payden is an example of how perseverance and courage can lead to success, no matter the barriers that arise. From her modest beginnings in Connecticut to becoming one of the richest and most powerful women in asset management, the businesswoman is a role model for future generations of entrepreneurs and professionals.
