The New York Times profiled Barnard Board Chair Jolyne Caruso-FitzGerald '81 for a story on incubators as "an alternative to Wall Street." She is Founder and CEO of The Alberleen Group, an incubator for investment bankers. An excerpt from the article:
"As the economy remains lackluster and Wall Street keeps shedding jobs, Ms. Caruso is offering an alternative to the large firms and the more prominent boutique investment banks.
Just as Wall Street has learned from the tech industry to be more nimble, the Alberleen Group’s team members say they set themselves apart from other banks by providing more creative, customized services. In addition, the incubator has been able to attract clients who are often disenchanted with the higher fees, diminished service and potential for conflicts of interest at the big banks, she said.
'The big investment banks continue to be tough places to work — between regulations, the lack of capital to fund deals and the broken compensation model,' Ms. Caruso said, adding that the 'misery factor' remains high even four years after the financial crisis."
Read the full story here.
A pioneering Wall Street executive, Caruso-FitzGerald has 30 years of global financial services experience including as Global Head of Absolute Return strategies at Lehman Brothers while serving on the firm’s management committee. Prior to Lehman, she was a Founder and President of Andor Capital, a $7 billion equity long/short hedge fund.
A Barnard trustee since 2000, Caruso-FitzGerald’s philanthropic efforts include support for women and education. She is an advisory board member and an investor in Golden Seeds—a group focusing on women-owned companies, and recently, the Jolyne Caruso-FitzGerald Lobby of Barnard’s Diana Center was so named to honor the alumna’s contributions to higher education.