On behalf of the board of Executive Women in Finance, we thank you for your membership, sponsorship, and overall support of this organization. I am excited to have the opportunity to serve as your President this year, and look forward to EWF’s continued growth in many facets. While our membership base continues to grow, we are also finding new ways to connect with each of you and bring additional resources. Just in the last year we have added: More informal events to allow for greater connectivity among members, and enhance our outreach to those interested in joining. A Book Club that focuses on both professional development as well as personal enjoyment with books like "One Size Never Fits All: Business Development Strategies Tailored for Women (And Most Men)" by Dr. Arin N. Reeves and "Bossypants" by Tina Fey. In the next meeting on August 21st, the book “Nice Girls Don’t Get the Corner Office: Unconscious Mistakes Women Make That Sabotage Their Careers” by Lois P. Frankel will be discussed. A Volunteer Subcommittee that helps identify opportunities for our members to actively give back as a group, but also connects our fantastic members to boards that are looking for strong women with a background in finance. Additionally, EWF highlighted the following non-profits this year: American Red Cross – Sound the Alarm volunteer event to put smoke alarms in homes; Joy’s House – Liz Todd, Finance Manager, spoke at our New Year’s event A Marketing/Communications Committee that is currently getting started. Our main focus is still our quarterly luncheons, and we are always looking for new speakers and topics that will resonate with our members and challenge our development as professionals. This year we have already heard from leaders across various organizations about the economic development and growth in and around the Indianapolis area, including Sarah Riordan, Katie Culp, Angela Carr Klitzch, and Angela Smith Jones. Most recently EWF received insight to the thriving Tech community with a discussion between Haley Altman, Founder/CEO of Doxly, Inc., and Don Aquilano, Founder/CEO of Allos Ventures. The balance of the year includes strategies to ensure your next discussion or negotiation is even more successful featuring Sara Norris and Rhonda Tamulonis, founders of When You Leave The Room, LLC on June 19th, and we Continued on page 2...
FIRST BI-ANNUAL 2018
BOARD OF DIRECTORS
Mandy Parris, President mandy.m.parris@chase.com JP Morgan Chase Bank Angela Wessler, Past-President angela.wessler@btlaw.com Barnes & Thornburg LLP Erin Eberly, Vice President eeberly@ksmcpa.com Katz, Sapper & Miller Julia Carpenter, Secretary jcarpenter@kdlegal.com Krieg DeVault Melanie King, Treasurer mking@hagermangc.com Hagerman Construction Kimberly Blanchet kimberly.blanchet@btlaw.com Barnes & Thornburg LLP Erin Dettwiler edettwiler@firstmerchants.com First Merchants Bank Ashley Hughes ashley.a.hughes@wellsfargo.com Wells Fargo Bank Amber LaRue amber.larue@53.com Fifth Third Bank Justine Overturf Singh Justine.OverturfSingh@53.com Fifth Third Private Bank Jennifer Pearcy jennifer.pearcy@faegrebd.com Faegre Baker Daniels Nicole Vogt nicole_m_vogt@keybank.com Key Bank Angela Wessler, President angela.wessler@btlaw.com Barnes & Thornburg LLP Joelle Compton, Executive Director info@ewfindiana.org EWF Indiana
PRESIDENT'S MESSAGE
Mandy Parris, 2018 President
Newsletter
President's Message continued will end the year with a discussion on unconscious bias with Lori Ball and Patty Prosser on November 7th. We would love to hear your ideas for ways to build a more impactful organization, serving your needs for networking, growth and development in your respective professions. Please reach out to me, our board, or our committee members. Better yet, join one of our committees to deepen your involvement with EWF and connect with women you may not have met previously. Our committees include: Sponsorship, Marketing/Communications, Events, Nominating, as well as our Awards and Volunteer Subcommittees. You can find more information on our website (http://ewfindiana.org/committees/). Finally, I hope you are inspired to mentor and encourage other women that you have the opportunity to influence. Specifically, I challenge you to integrate 36 minutes of weekly mentoring that is supported within my own firm: Spend 30 minutes a week having coffee with a talented up-and-coming woman Spend five minutes a week congratulating a woman on a win or recent success Spend one minute a week talking up the woman who had that win to other colleagues at the firm Working together, we can elevate the profile of women across our industry, companies and circle of influence. I hope that you will continue to use EWF as this type of platform, while you refine your own skills and strengths. Finally, I leave you with the following thought: The question isn't who is going to let me; it's who is going to stop me. -Ayn Rand
WElcome new members
Zainab Bass, Periculum Capital Valerie Becker, The National Bank of Indianapolis Katherine Bell, PNC Bank Rebecca Bevis, Wells Fargo Bank, N.A. Althea Cooper, BMO Harris Bank Amber Conrad, Wells Fargo Bank, N.A. Courtney Figg, Quarles & Brady LLP Sarah Fowler, Ice Miller LLP Jodi Gietl, Habitat for Humanity of Boone Co. Jessica Hadler, JPMorgan Chase Sarah Hammond, Katz, Sapper & Miller Mallory Howard, BMO Harris Bank Linda Kaiser, JPMorgan Chase Shelley Laflin, Zeta Beta Tau Fraternity Yan Ma, Aqua America Inc. Michelle Marietta, BMO Harris Bank Julie Overton, Bank of America Lindsay Raifsnider, Fifth Third Bank Erin Shaw, J.P. Morgan Leslie Smith, Bingham Greenebaum Doll LLP Seema Parikshak Verma, BGBC Partners, LLP
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DiSC Analysis of Assessment and Personality Types w/ Lisa Hudson, The Growth Coach
End of Summer Members Only Luncheon @ Eiteljorg Museum
Luncheon @ Meridian Hills Country Club
NOVEMBER 7TH
Calendar
August 21st
JUNE 19th
SEPTEMBER 11th
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OCTOBER 2ND
persuasive speaking - the quickest way to yes
Luncheon @ Renaissance Hotel
Book Club @ HoiTea ToiTea
Are you challenged to present information in a way that leads more quickly and directly to good business decisions? “Persuasively speaking” is a fast-moving, entertaining and informative guide to making your next presentation your best one yet. We will share how you can avoid “the curse of knowledge” while explaining your points in simple steps that build agreement. Whether you present one-on-one or to a packed conference room, you will leave knowing how to craft a presentation that builds agreement as you move your listeners toward greater understanding. Sara Norris and Rhonda Tamulonis are partners in When You Leave The Room, LLC, an Indiana business presentation skills coaching firm. They each spent more than 30 years in different corporate careers and gave thousands of business presentations, before founding When You Leave The Room to help people speak more persuasively, effectively and memorably. Their goal is enable business presenters to be assured that, when they leave the room, they will have gotten their message across and achieved their business objectives. Presentations for financial services organizations are a special focus. In the past four years, they have presented 17 workshops for the Indiana CPA Society. Program attendees consistently give them high marks for presentations that are informative, useful, and enjoyable. Tuesday, June 19, 2018 The Renaissance Hotel, Carmel 11:15 AM - 1:00 PM
next event:
By Angela Wessler and Kimberly Blanchet Private and public companies alike often need to borrow under commercial loans or other structured finance products when they are expanding, pursuing an acquisition, or need to fund innovations. On the government side, municipalities also look for creative solutions to funding challenges. The attorneys at Barnes & Thornburg represent agent banks, lenders, commercial paper conduits, borrowers and intermediaries in negotiating and documenting financing transactions of all sizes and varieties, including: • Secured and unsecured syndicated and single-bank commercial loans • Asset-based loans • Project financings • Leveraged acquisition financings • Aircraft and other equipment financings and leveraged leases • Commercial real estate financings • Tax exempt financings • Credit tenant leases • Sale/Leasebacks • Letters of credit • Interest rate and currency swaps Banks, commercial paper conduits, investors and originators turn to us for counsel regarding structured loans and letters of credit, as well as securitizations of loan, lease, health care, credit card and trade receivables, collateralized loan obligations, collateralized debt obligations and related warehouse and liquidity facilities. We also assist lenders in developing and assessing their processes, controls and documentation for their financing operations. We also represent creditors and debtors in connection with debtor in possession and exit financings, as well as out-of-court debt restructurings. Public Finance Transactions Tax reform and ever-changing legislation puts further stress on municipalities as they strategize how to provide an outstanding level of service to residents while balancing the fiscal and political constraints placed on leadership. Barnes & Thornburg’s attorneys stand ready to provide their significant experience and assist in structuring traditional and creative financial solutions to the problems states, cities, towns, townships and counties face. Our attorneys have a long history of offering comprehensive legal services to participants in public finance transactions for both public and public-private projects, serving as bond counsel or counsel to underwriters, issuers, borrowers, credit providers, banks, other investors or trustees. We have assisted in financings for states; state instrumentalities; public colleges and universities; bond banks; counties, cities, towns and townships; school corporations; special taxing districts; private enterprises; nonprofit organizations, including private colleges and universities; hospitals; retirement communities; and government officials. In any of these roles, one of our primary goals is to educate our clients regarding all of their financing options and assist them in designing financings that best meet their objectives. In addition, complex financings often raise issues beyond the financing itself and we often assist with related lobbying, intellectual property, litigation, real estate, creditors' rights, labor and environmental matters. With more than 600 attorneys and other legal professionals, Barnes & Thornburg is one of the largest law firms in the country. The firm serves clients worldwide from 14 offices in Atlanta, California, Chicago, Delaware, Indiana, Michigan, Minneapolis, Ohio, Texas and Washington, D.C. For more information, visit us online at www.btlaw.com or on Twitter @BTLawNews. Angela Wessler is a partner at Barnes & Thornburg who practices in commercial lending, corporate finance and creditors’ rights issues. Angela is a current board member and the immediate past-president of Executive Women in Finance. Kimberly Blanchet is a partner at Barnes & Thornburg who practices in the area of finance, both taxable financing and tax-exempt financings, for municipalities, hospitals, retirement communities, colleges and universities. Kim is a current board member of Executive Women in Finance. This article should not be construed as legal advice or legal opinion on any specific facts or circumstances. The contents are intended for general informational purposes only, and you are urged to consult your own lawyer on any specific legal questions you may have concerning your situation.
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GOLD Level Sponsor
Funding Innovation: Barnes & Thornburg LLP's Lending, Structured Finance and Public Finance Practice
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By Erin Eberly and Chad Halstead, Katz, Sapper & Miller The Tax Cuts and Jobs Act of 2017 (TCJA) will have a profound impact on business owners, investors, and professionals alike. Defining the impact is another issue altogether. The legislation was passed with breakneck speed, leaving many questions unanswered. Now the real work begins: interpreting the wide-sweeping tax overhaul. It will take years to get it all sorted out, but here is some of what we know now. Pass-Through Deduction If you have not heard of new Code Section 199A, consider this the first of many introductions. The reduction in the C corporation tax rate gets all the press, but this section is really the nuts and bolts of the new legislation. It provides owners of pass-through entities (including sole proprietors) a deduction equal to 20 percent of Qualified Business Income (QBI) effectively dropping the top marginal tax rate to 29.6 percent. This is subject, of course, to limitations, thresholds, phase-ins/outs, and a litany of definitions (classic hallmarks of the Internal Revenue Code). If the goal of tax reform was simplification, here the mark was missed entirely. So what is QBI? At the grave risk of generalization, QBI is pass-through business income less wages and investment income. However, once taxable income exceeds a threshold, certain professions are excluded from the 20 percent deduction. Spoiler alert: Condolences to doctors, accountants, financial advisers, brokers, lawyers, or the ambiguous “any business where the principal asset is the skill of its employees.” (Kudos to engineers and architects, who are specifically unscathed.) Even outside of the “blacklisted” professions, there are other limitations, the extent of which is too drawn-out to outline here. Current business structures will need to be analyzed, and in some cases modified, to maximize the deduction. Furthermore, because this provision is inapplicable to non-owner employees, key employees might look to alter the employment relationship to fit within the deduction parameters. Mass Conversion from Pass-Through to C Corporation Form? With the reduction in the C corporation tax rate from 35 percent to a flat 21 percent, is it now advantageous to convert a pass-through entity to a C corporation? The short answer: It depends, but probably not. C corporations are subject to a second level of tax on dividend distributions to shareholders, whereas pass-through entities will continue to enjoy a single layer of tax. The primary question will be how quickly the business plans to distribute earnings. The second level of tax does not materialize until cash is distributed. If the business is continuously reinvesting cash and expects to do so for the foreseeable future, a C corporation conversion might make sense. But for most, owners need the cash in the shorter term, and for this reason they will likely be encouraged to preserve pass-through status. REIT Dividends and Publicly Traded Partnership Income The 20 percent pass-through deduction applies to any real estate investment trust (REIT) dividend that is not a capital-gain dividend or a qualified dividend. The deduction also applies to qualified income from publicly traded partnerships (PTPs) plus any gain on the sale of a PTP interest that is included in ordinary income. Strictly from a net-tax standpoint, these investments will now be more desirable than under prior law. Carried Interest Often publicized as one of the most brazen loopholes in the tax code, carried interest endured the TCJA largely intact. A carried interest is a contractual right that entitles a partner to an allocation of future profits in exchange for services performed. In many instances, the tax is paid long after the services are rendered and then at capital-gain rates. In order to secure capital-gain treatment, the TCJA Continued on page 9...
What Businesses Should Know About the New Tax Law
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Supporting Vibrant Growth in Indiana's Small Businesses
New Tax Law Continued increases the hold period of the underlying assets from one year to three. Because real estate managers and private equity sponsors often have a hold period in excess of three years, it is anticipated this modification will have minimal impact on the taxation of carried interests. Roth IRA Recharacterization Repeal Pre-TCJA, taxpayers were permitted a “do-over” with respect to a Roth IRA conversion, meaning they could execute a conversion as early as Jan. 1 and had until October of the following year to undo the conversion. If the value of the investments had declined, the conversion could be undone, allowing the taxpayer to convert again at the lower asset value (reducing the tax liability on the conversion). For taxable years after Dec. 31, 2017, recharacterization for a contribution to a Roth IRA is not permitted. Unreimbursed Business Expenses Pre-TCJA, taxpayers could deduct unreimbursed business expenses to the extent miscellaneous itemized deductions exceeded the two percent floor. This deduction is now suspended. Therefore, business owners can expect pressure from employees to reimburse some of these expenses. Erin Eberly, CPA, partner in KSM’s Business Advisory Group, can be reached at 317.580.2186 or eeberly@ksmcpa.com. Chad Halstead, JD, partner in KSM’s Tax Services Group, can be reached at 317.580.2048 or chalstead@ksmcpa.com.
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By Mandy Parris Small businesses help create the fabric of a city, lending local color and vibrancy to each community. At JPMorgan Chase, we’re just as invested in growing small businesses as we are in those that have been around for decades; we recognize how important it is to support the livelihood of the local market—in Indiana and across the nation. Small businesses widen the net of economic opportunity and help keep markets competitive; when they succeed, we all do. But for regional economies to flourish, local entrepreneurs need access to capital and resources. Small businesses are growing fastest among people of color, particularly Latina and African-American women. Yet research suggests minority-owned businesses rely significantly more on personal wealth than on outside credit to get established. In 2014, JPMorgan Chase launched Small Business Forward, a global initiative dedicated to supporting women-, minority- and veteran-owned small businesses. In 2016, we doubled down on our investment—increasing the total commitment to $150 million over the next five years. Small Business Forward supports organizations that have the potential to grow, offer quality employment and create economic opportunity for vulnerable populations and their communities. In Indiana specifically, we contributed $245,000 to nonprofits in support of business development last year. Working with Indiana entrepreneurs, we provided $282.3 million in small business lending throughout the state. The businesses we bank are in a variety of industries, with recent deals ranging from distribution companies to automotive parts manufacturing, resin processors to plastic sheet suppliers. We’ve also developed relationships with local organizations, providing grants that help expand access to opportunity and help more people move up the economic ladder. Some of these organizations include: · The Indy Chamber Foundation, which works to expand the global reach of small and mid-sized businesses with technical assistance in identifying target markets and facilitating connections to investors and foreign firms. · The Business Ownership Initiative, which provides emerging businesses with training, coaching and access to microloan capital. We’re proud to bring our resources to help bolster small businesses in communities across the country. Not only are small businesses an investment in future economic growth, they help generate financial security and opportunity for real people nationwide.
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Sponsoring Women: Filling the Executive Pipeline
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PLATINUM Level Sponsor
By Susan Pound, Executive Vice President, Regional Sales Manager, Wells Fargo Though the number of women in the C-suite continues to steadily increase, the rate at which those numbers climb is significantly lower than many would like to see. One of the most effective ways to increase representation is for female executives to sponsor the next generation of promising women who can enact change in future boardrooms. Today women in many fields are advancing the executive ranks faster and further than their predecessors, but what exactly are they doing to develop the female executive pipeline? To ensure the number of women in the C-suite continues to grow, it would behoove those with the ability and means to sponsor promising up-and-coming female employees. Despite modest gains in recent years, women are still severely under-represented in corporate suites and boardrooms. In 2016, only 24% of international C-suite positions[i]were occupied by women — a slight improvement from 16% in 2010. Though difficult to say whether women’s advances in corporate leadership result directly from other women’s help, women who receive mentorship or sponsorship are paying it forward. 32% of women say they have a mentor at work[ii] and 65% of those mentored go on to become mentors themselves, thus perpetuating the developmental cycle.[iii] A prime example of paying forward lessons learned and offering expertise to promising women is Betsy Duke, chairman of the Wells Fargo Board of Directors and first female chairperson of a top U.S. bank. “Mentors,” Duke says, “help to develop the next generation. It’s important to embrace being a role model because people look at you [and they see that] and they say, ‘I can do that.’” While mentorship programs have been around for a long time, and most of us are familiar with them, what exactly is sponsorship? How does a sponsor help others advance? And do women need sponsors more than men do? When you talk with women who occupy positions of power, many have been mentors, but very few have been sponsors. The impetus is on us. If we want to develop the next generation of women, we need to step up and act as sponsors to help them. Not your typical sponsor A corporate sponsor isn’t the person to confide in about personal issues, but in many ways, a corporate sponsor can make all the difference between stalemate and growth. Research[iv] has shown that women who speak up and promote themselves heavily in the workplace can be penalized. Men are used to highlighting their accomplishments and speaking up when they want more responsibility, visibility, or a promotion. This double standard has plagued women for decades. Mentors help others, informally or formally, navigate their careers by providing guidance for career choices and decisions. But sponsors go further. A sponsor who uses strong influence to help a woman obtain high-visibility assignments or jobs can make a real difference in that woman’s career.[v] By promoting another woman, you help her bypass the double standard we have all learned to live with for so long. Which should you be? Are corporate sponsorship programs common? Not really. In 2017, about half of US companies run women-oriented mentorship programs, but less than a third run sponsorship programs.[vi] If you are looking for ways to help other women advance, a formal sponsorship program may not be a ready option in your company. But that need not stop you from inquiring or putting in place a sponsorship. As a sponsor you can: · connect protégés to career opportunities · advocate for a protégé’s advancement · publicly endorse protégés · expect high performance in return · help protégés confront and interrupt bias · prepare your protégé for the challenges in her executive roles Continued on page 14...
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Whitney Mosby, Bingham Greenebaum Doll, LLP, Partner What was the experience or motivating factor that compelled you to join Executive Women in Finance (EWF)? I have met so many incredible women during my career in finance. One of those women was Nicole Vogt. We originally bonded on work/life balance struggles and then networking challenges for women. She mentioned EWF (which was in its infancy at that point in time) and asked if I would be interested – I said Yes! How does EWF support your career? A few ways. First, EWF provides a network of successful business women from diverse backgrounds who both inspire and help guide my career. Second, it provides leadership opportunities for me. Finally, it fosters networking in convenient and comfortable environments such as the monthly luncheons, the informal happy hours, philanthropic events and the book club. What do you think makes a good mentor and have you established any mentoring relationships through EWF? I firmly believe women (and men) need to seek out sponsors, not just mentors. A good mentor is someone who supports, focuses on professional growth and development, and is particularly useful for skills development, socialization, emotional support, and personal growth. Sponsors, on the other hand, are powerful backers in positions of influence who advocate on your behalf and actively seek out ways to advance your career. Sponsors can provide career-accelerating opportunities and influence decisions about promotions, leadership roles and compensation. With that said, I have established many relationships with women through EWF who I can consult for professional (and personal) growth and development. Briefly describe the culture of EWF. The culture of EWF is supportive, collaborative, professional and fun. What are you passionate about? Finding someone to train my 7 month old Labrador without doing any of the work. Ha! What is your dream vacation spot? A private beach house on the ocean with no one around for miles. What is your favorite quote and why? “The days are long but the years are short.” I work full time and have young children. This is a constant reminder to try and be mindful and present in the moment no matter what you are doing.
member spotlight
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For clients throughout the Midwest and across the country, Krieg DeVault provides clear, practical legal advice that takes in the big picture without losing sight of the details. That's how we approach your legal challenges and how we deliver solutions that are focused on your needs, your business and your world. With a sophisticated nationwide financing practice, Krieg DeVault excels at complex secured, syndicated, real estate, healthcare, ESOP, and tax-exempt transactions. Our lending clients range from large national banks and institutional investors to rapidly growing regional banks, and our work with borrowers encompasses a full spectrum of businesses. We know that borrowers and lenders both want cost efficiency in their lending transactions, so we have developed standardized loan structures and documentation that meet market needs. And because we handle all types of loan transactions and lending relationships, we can offer valuable transactional guidance that helps any deal close successfully. Our public finance team works alongside our commercial and real estate lending professionals to bring a unique combination of governmental experience, historical knowledge of state and local issuers, and practical but creative tax advice to help governmental entities, nonprofit organizations, hospitals, educational institutions, and private sector clients meet their tax-exempt financing needs. We have acted as bond counsel, special tax counsel, tax controversy counsel, underwriter's counsel, disclosure counsel, issuer's counsel, borrower's counsel, credit provider's counsel, and trustee's counsel in a wide-range of financings such as general obligation, revenue, lease rental, housing (bond and tax credit), economic development, infrastructure, 501(c)(3), tax increment, and cash flow transactions. Our team of attorneys has worked on financings ranging from $100,000 to $1,000,000,000. Each Krieg DeVault advisor is integrally involved in the financing to ensure that it is accomplished correctly, effectively, and on time.
Sponsoring Women Continued Keep this in mind: mentors advise; sponsors act. A sponsorship requires more time on behalf of both the sponsor and the protégé — but it can also be far more rewarding and increase the pipeline of female executives in your company. Why be a sponsor? Sponsoring can make you a more engaged, effective employee. This may sound counter-intuitive, until you consider the tightly knit sponsor-protégé relationship. Your protégé will keep you in touch with what’s happening at different levels in the organization; this, in turn, can lead to growth in your own career. A protégé can help you look at your environment and own role through a different set of eyes; your protégé’s approach to handling issues may in fact help improve your own. But there is another good reason that tips the scales in favor of sponsorship: the personal pride and satisfaction that comes from helping another woman grow. Being a sponsor may prove one of the most rewarding aspects of your job and by helping develop the pipeline of the future female C-suite occupants, you have a chance to pay it forward and impact history. ©2018 Wells Fargo Bank, N.A. All rights reserved. [i] Grant Thornton International Business Report 2016 https://www.grantthornton.global/globalassets/wib_turning_promise_into_ practice.pdf [ii] https://www.comparably.com/guest/culture/all/all-department/24-do-you- have-a-mentor-at-work, 11/15/17 [iii] High Potentials in the Pipeline: leaders Pay it Forward. Catalyst, 2012. http://www.catalyst.org/system/files/High_Potentials_In_the_Pipeline_ Leaders_Pay_It_Forward.pdf [iv] For example, Hannah Riley Bowles, Linda Babcock, and Lei Lai, “Social Incentives for Gender Differences in the Propensity to Initiate Negotiations: Sometimes It Does Hurt to Ask.” Organizational Behavior and Human Decision Processes, 103.1 (May 2007) [v] Coaches, Mentors, and Sponsors: Understanding the Differences. Catalyst, December 11, 2014. [vi] Women in the Workplace 2017. McKinsey&Company.
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event recaps
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Bank of America is Growing in Indianapolis
Bank of America and Merrill Lynch have a long history of serving clients in Indianapolis and know that financial strength and stability are important for success: they allow us to create opportunities for individuals and businesses in Indianapolis and the surrounding communities and help the local economy grow. Locally we provide consumer, commercial and business banking as well as wealth management services to almost 128,000 Indianapolis-area clients. We have leading capabilities across all our businesses and a strategy that is focused on connecting to deliver for our customers and clients. In every situation, we’re committed to growing responsibly and sustainably — ensuring everything we do aligns to our purpose of helping people live better financial lives: • Families can have the tools and support they need to live more successful financial lives. • Neighborhoods can be built on a solid foundation of responsible home lending and economic development. • Businesses, small and large, can benefit from our financial and intellectual capital. • Organizations, nonprofits and companies addressing society’s toughest problems can have the resources and expertise of the company and the efforts of our more than 200,000 employees behind them. By lending to and investing in local customers and small and medium-sized businesses, Bank of America is also helping to create jobs in Indianapolis and drive its economy. In 2016, Bank of America extended more than $119 million in new credit to small business clients and more than $1.5 billion to commercial business clients in Indiana. To address complex community challenges, nonprofit partnerships are key. We work together to expand opportunities for those living on the margins and support equitable solutions that will enable low-income communities to grow and prosper. Bank of America is proud to partner with local institutions including Gleaners Food Bank, Conner Prairie, Indianapolis Symphony Orchestra, and the Peace Learning Center that are continually making efforts to highlight the importance of financial literacy and economic opportunity within our community. Being a diverse and inclusive company makes Bank of America strong and is essential to our ability to meet the needs of our clients, communities and employees. As a part of this, we invest in helping women make meaningful contributions within our company and in our communities. We have strong representation of women at all levels of our organization and our support of women is evident in the resources we have focused on bringing female talent to our company, developing our employees and supporting the economic empowerment of women around the world.
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At Ice Miller, our female attorneys know the business and law of banking. Ice Miller has female attorneys in numerous offices who represent our clients in secured and unsecured debt transactions, including construction loans, revolving and term loans, asset based loans, bridge equity loans, syndicated loans, bond financings, convertible loans, real estate loans, mezzanine and unitranche financings, letters of credit, interest rate swaps, sale/leasebacks, and tax exempt financings.. In addition to advocating for our clients, Ice Miller has a long history and tradition of developing female leaders within both the Firm and the community. A brief spotlight of our female attorneys demonstrates our Firm’s experience in financial services and commitment to female leadership within our communities. Elizabeth Brier - Associate, Indianapolis Elizabeth concentrates her practice on transactional matters, with a focus on debt finance and private equity transactions, while also advising clients on a range of general corporate matters. Community passion: Indianapolis Symphony Orchestra, FORTE Young Professionals Group, Leadership Committee Member Sarah Fowler - Associate, Indianapolis Sarah practices in the Bankruptcy and Financial Restructuring Group and concentrates her practice in the areas of commercial litigation, bankruptcy, creditors' rights, insolvency issues, foreclosures, and debt workouts. Community passion: Vice President of the Board of Directors, Girls on the Run of Central Indiana Joanne Goldhand - Partner, Columbus Joanne has practiced transactional real estate law since 1988 on behalf of lenders, borrowers, developers, tenants, homeowners, government, landlords and others with or desiring land. Community passion: United Way of Central Ohio, Home Impact Committee; North Market Development Association, Executive Board Member; Columbus Children's Theatre, Board of Trustees Laurie Miller - Partner, DuPage County, Illinois Laurie focuses her practice in corporate law, with experience in negotiating, managing and completing complex financing transactions and business transactions. Community passion: Pass-it-On (a charity providing travel soccer scholarships to qualifying families); Team administrator for her daughter’s national travel soccer team Michelle Zaretsky - Associate, New York Michelle concentrates her practice in the areas of mergers and acquisitions, private equity transactions and general corporate matters. Community passion: Benefactor and rescue dog rehabilitator for various NY/NJ animal rescue organizations; New York Bar Association Member We have experience collateralizing a variety of asset classes, including aircraft, livestock and crops as well as traditional inventory to secure the credit. Our attorneys frequently serve our financial institution clients by monitoring credit facilities post-closing and amending and updating the credit facilities. Ice Miller regularly represents clients in the financial services industry in litigation and proceedings before administrative agencies, including matters relating to commercial disputes, consumer finance, fraud, insurance, mortgages, securities, trusts, restrictive covenants, and customer disputes. We negotiate with participants at each level of the business capital structure in complex leveraged transactions and equity negotiations. Our attorneys efficiently conduct any necessary due diligence and advise clients on structuring techniques to avoid or mitigate unintended tax consequences. One of our principal focuses is the representation of the portfolio companies of our private equity clients in recapitalization and in financing acquisitions. We have substantial capabilities and experience representing other public and private companies in their borrowing, including any matters related to refinancing, acquisition funding, and intercreditor issues among senior lenders.
Ice Miller Spotlights Attorney Financial Services and Community Leaders
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February Luncheon
New Year's Social
careers and leadership finance: insights for students from women in finance
For the first quarter luncheon, the Executive Women in Finance group was lucky enough to have four women in the local area to speak about economic development and growth in and around Indianapolis. These four women included Sarah Riordan, executive director from the Bond Bank, Katie Culp, partner from Katz Sapper & Miller’s State and Local Tax Group, Angela Carr Klitzsch, president and CEO from EmployIndy and Angela Smith Jones, Deputy Mayor of Economic Development from the Office of Mayor Joe Hogsett. The group was moderated by Karen Pipes, Senior Vice President at Bank of America. This wonderful panel shared with the group insights on their careers and what specifically lead them to the positions they are currently in. A common theme around each individual’s story was they took a leap of faith in the position they currently serve in and didn’t feel at the time they were qualified for the position. Each panelist referenced a sponsor or someone helping them to take this leap of faith and believed they would be successful in the position. The panelists specifically discussed how economic development is dependent on the city being able to show new organizations how we as a community can specifically staff the jobs they would bring to the local area. Given the unemployment rates are low and business is booming, this is a challenge for all cities. Angela Carr Klitzsch specifically discussed some of the programs currently being started or developed by local Universities. She specifically talked about the education in the technology sector and that it is important as a community to be able to provide education to individuals more quickly and real time vs. the longer term commitments at normal four year programs. The panelists specifically shared with the group the amazing experience it has been for the city to have the opportunity for the Amazon headquarters and how this process has been like no other previous project. This group of individuals and a significant number of other individuals have worked together as a team to come up with the best options for the City related to the Amazon headquarters.
EWF held its New Year’s Social Event on January 9, 2018 at Woodstock Country Club. The not-for-profit organization highlighted at this year’s event was Joy’s House. The lovely Liz Todd provided an overview of Joy’s House at the event. Joy’s House is located in the Broad Ripple area and provides adult day and caregiver services focusing on the physical, mental and financial relief needed by families caring for loved ones. Additional information about Joy’s House can be found at their website: http://joyshouse.org/. This event also provided an opportunity for new and current members to learn more about each of the EWF Committees. The Events Committee, Membership Committee, Sponsorship Committee and Nominating Committee all hosted tables at the event to answer questions about the volunteer, networking, educational and other advantages available to EWF members. Thank you to all of those who completed a survey at his event which helps direct the content and location of our events as well as other opportunities to provide for our members.
Women Leaders Driving Economic Development and Growth
january event
MArch event
Getting Indy in the Tech Arena
Careers & Leadership Finance: Insights for Students from Women in Finance On March 1, 2018, EWF teamed up with the Kelley School of Business to provide an opportunity for students to meet EWF members and to hear about their expertise and insights on career opportunities in finance as well as their career journeys to leadership within their respective fields. A special thanks to our EWF members who served as panelists at the event: Melanie King (The Hagerman Group), Julia A. Carpenter (Krieg DeVault), Nancy Dorsa (JPMorgan Chase), Sarah Hammond (Katz Sapper & Miller) and Jill Grossman (Morgan Stanley). Also a special thanks to Cathy Bonser-Neal, Associate Professor of Finance at the Kelley School of Business, who coordinated the event. Topics included (a) how the panelists decided on a career in finance, (b) the exciting opportunities for those interested in a career in finance, (c) important skills and characteristics needed for a successful career in finance, and (d) work/life balance issues.
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MAY luncheon
On Monday May 7th, Executive Women in Finance members joined Haley Altman and Don Aquilano for a panel discussion regarding Indianapolis becoming a lead tech hub in the Midwest. Haley is the Founder and CEO of Doxly, Inc., a transactional support service company located here in Indianapolis. Don Aquilano is the Founder/CEO of Allos Ventures, an early stage venture capital firm in Carmel. Drawing on coast to coast experiences and varying job backgrounds, Haley and Don shared their insights on technology start-ups and tech entrepreneurship, as well as their thoughts on the outlook of the tech market in Indy. Don chose Indianapolis 18 years ago, relocating from New York City. He appreciates working in another “real” city while also having time to raise his family. In contrast, Haley returned to Indianapolis after working on the west coast, but ultimately deciding to bring the Palo Alto culture back to the Hoosier State. Haley and Don also reflected on the importance of collaboration and teamwork both inside and outside of their companies. By encouraging collectivism and collaboration, new and diverse skillsets help breed new ideas, building momentum to drive the tech industry to Indy. Don describes how collaborating with companies large and small is “good for the ecosystem.” The two confirm that Indy isn’t the tech hub YET, but it has the potential. While there is a ton of momentum, there remains more work to be done. Haley and Don agree that the greatest challenge lies in attracting and keeping capital here in Indy. Their solution? Help start-ups find funding here in Indy, connect them with other local resources, and keep companies focused on growing and staying in Indy. By doing so, we will begin paving a path to set Indy as the tech hub it is striving to be.
elizabeth eckert
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SANDY Wilcox
With 28 years’ experience as a Wealth Advisor at Morgan Stanley, I begin with a conversation to help you define and quantify your financial goals and risks. Next, we put it all together in a financial plan, a “roadmap” that guides us to the various investment resources to fulfill those goals and mitigate the risks you face. You’ll have access to Morgan Stanley's most seasoned and respected institutional investment professionals/managers, our premier trading and robust execution platforms, and a full spectrum of premier investment choices. All integrated for your benefit to achieve your financial dreams.
Since I began my career in 1981 my focus has always been on a comprehensive approach to financial management for successful families. Using the research and resources of Morgan Stanley and my decades of experience, I am able to address a range of client issues such as assisting with taxation, wealth transfer and charitable giving. Away from the office I am active in efforts to empower women to overcome challenges and gain skills to provide for themselves and their families.
jill grossman
At Morgan Stanley, I help to develop a comprehensive financial plan for my clients. I strive to understand your goals and build a financial roadmap to achieve those goals with minimum amounts of risk. My belief is that through using a disciplined approach to investing, my clients will be better able to weather the ups and downs of the market. Lastly, I want to provide a superior level of service, so that my clients truly enjoy the relationship they have with me.
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Building a culture that sustains top-tier employees, and knowing how to properly manage them, is not just a value add for your workplace – it is now a requirement for any employee worth keeping. Instilling a positive office culture is easier said than done, but here are some tips: Improve your potential to lead by example. Have you defined your own principles as a business leader? If not, you should. Do you know how to instill those principles in others on your team? Show them how by doing it yourself. “Principles are the basis of building a good, solid culture," says Barb Cutillo, co-founder of Stonegate Mortgage and Kelley School of Business MBA alumna. By instilling valued principles in her employees’ everyday lives—like a compassionate PTO policy, leadership training for managers, and a remote working policy—Cutillo’s employee engagement scores increased significantly. Understand and communicate what your team needs to be successful. Listening is a powerful soft skill used by successful leaders to keep communication channels flowing both ways. Be mindful of what your team is telling you it needs to reach its goals, knowing you need to communicate clearly to them as well. “Listening, paraphrasing, and clarifying is important so that you show you have invested interest in being there. It is an opportunity to build rapport,” says Tatiana Kolovou, senior lecturer at the Kelley School of Business. Not only will you serve your team well by providing the resources they need, but also you’ll build rapport as a multi-level leader within your organization. Build your team’s capabilities. Team leaders ensure their managers are prepared for tasks. Help your managers acquire the skills they need to lead their teams to success, knowing it might mean negotiating on their behalf for additional resources or offering leadership training for your managers. “You must have metrics and measures all along the way that tell you're making steady progress and give you opportunities for celebrating within the organization,” said Kelley School of Business Dean Idalene “Idie” Kesner. Set goals and keep your team accountable. Understand your mission and break it down into smaller, individual goals that will eventually amount to accomplishing your main goal. The best leaders don’t have to force others to follow because it will happen naturally. If you don’t feel like a natural leader already, you can begin practicing today. Learn more from Kelley School of Business MBA alumna Barb Cutillo on The ROI Podcast at www.kelley.iupui.edu/EWF-ROI.
silver Level Sponsor
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Creating a Culture of Success: Advice from Kelley School of Business Women Leaders
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thank you 2018 sponsors
BRONZE LEVEL
In-Kind Sponsorship: The Order Fullfillment Group
SILVER LEVEL
GOLD LEVEL
PLATINUM LEVEL
