2019 Women to Watch EMEA: Loredana La PacePosted On: Dec. 2, 2019 12:00 AM CST
Loredana La Pace
Managing director and head of Italy
Goldman Sachs Asset Management LP
After studying economics at university in Italy, Loredana La Pace began her career in banking at Dresdner Bank in Germany. But when the bank merged with insurer Allianz SE in 2001, it took her into the world of insurance.
In 2009, Ms. La Pace returned to Milan and shortly after joined Goldman Sachs Asset Management LP.
“At the beginning, I was focused on discretionary portfolio management for buyers, and then I started covering insurance clients in the Italian market,” she said.
She describes the asset manager’s role of being able to provide innovative investment solutions that can match the needs of insurers today as “challenging,” but one that also brings “a sense of accomplishment.” Building long-term relationships and partnerships with clients is key, she said.
The 2007-2008 financial crisis was one of the toughest moments of her career, she acknowledged. “If you stay close to your clients in difficult market phases, it’s something clients will never forget. That’s the spirit we work in. We want to work with our clients long-term,” she said.
As the first female country head to be promoted to the role of managing director in 2015, having the support and guidance of mentors found through Goldman Sachs’ mentorship program was “crucial for my professional and personal development,” Ms. La Pace said.
She now pays that forward and is very active in the program herself. “I love to mentor, both internally with colleagues and also externally with young people working for different industries,” she said.
She is someone who has “the full package,” combining very strong empathy skills and technical skills with strong leadership, said Nick Phillips, a London-based partner at Goldman Sachs Asset Management who has worked with Ms. La Pace for 10 years.
“People look up to her because she has been successful. They study why she’s been successful, but more importantly, Loredana is happy to spend time with them talking through why she’s been successful,” he said.