Name: DeAnne Steele, CFA, CAIA.
Company: U.S. Trust, Bank of America Private Wealth Management.
Title: Investment executive, Western Division.
No. of employees: U.S. Trust employs 4,000.
Year founded: U.S. Trust was founded in 1853.
Education: UCLA Anderson School of Management, MBA, 1999; UCLA, B.A. in English and political science, 1994.
Current residence: Scripps Ranch.
Family: Husband, Carlo Barbara; son, Cole.
DeAnne Steele is a managing director and Western Division investment executive at U.S. Trust, Bank of America Private Wealth Management, and has more than 18 years of investment experience in California and New York. Her team of portfolio managers works in concert with advisers and other specialists at U.S. Trust to identify the complex needs of high-net-worth clients and to develop customized wealth management solutions to address those needs.
Essential business philosophy: Always know why you are doing something. Knowing why you do something and knowing why your company is in the business it is in keeps you focused on what is important, both in terms of your career development and job satisfaction and in terms of why your clients are with you.
Best way to keep a competitive edge: Continue to learn, challenge yourself, and be open to feedback.
Guiding principles: When I had just graduated from UCLA undergrad and had just started my first full-time job, I attended an event at which a woman by the name of Alison Winter spoke. She was giving advice to young, female professionals. She listed some guiding principles: Always be able to support yourself; act the part before you get the part; if you want it, ask for it; if you are not going forward, you are going backward; don’t be a quitter; if you don’t play, you can’t win; be open and direct; make everyone a part of the process, and they will be a part of the success; be open to criticism; show affection and warmth to your colleagues; when angry, wait a day; create the vision and communicate it often.
Yardsticks of success: Client and colleague satisfaction and compliments. The best compliment is when a client introduces us to a friend or family member or when a colleague refers someone to become part of our organization.
Goals yet to be achieved: Achieving the right balance between work, family, friends and taking care of myself. I think in 2012 I’m off to a better start.