Fortune Favors the Fearless: Mari Matthews’ Finance Journey
Meet Mari Matthews, a dynamic leader whose journey through the financial industry spans a range of high-level roles in leading organizations such as AIG, Metlife, State Street and Google. As the Representative Director of The Bank of New York Mellon Trust (Japan) (“BNYM”), Mari brings a unique blend of public policy acumen, strategic vision, and effective management skills to her position. Mari stands out for her fearless approach to career transitions, seizing opportunities to expand her impact. Her leadership blends decisiveness, empathy, and a commitment to continuous learning. She navigates global business complexities with a deep understanding of local and international dynamics, fostering innovation and building strong client relationships. Despite operating in a traditionally male-dominated industry, Mari is a staunch advocate for diversity and inclusion, actively promoting women's advancement and advocating for greater workplace flexibility. In a recent candid conversation with Karin Wellbrock, Partner at Kay Group, Mari generously shared insights from her journey, offering a valuable treasure trove of wisdom for young professionals and change-makers alike.
Shaping Tomorrow’s Trailblazers
Karin: Hello, Mari! It's fantastic to have you join me in our “Exceptional Leaders by Design” series, where we spotlight inspirational Japanese leaders. We aim to provide role models and insights for young professionals, especially women executives striving for the top.
Mari: Hi Karin! I’m thrilled to be here and share my journey.
Karin: Can you tell us about your role at BNYM, in Tokyo?
Mari: Sure, I’m Representative Director for The Bank of New York City Mellon Trust (Japan), a position I've held for three years now.
Karin: Your journey to a top leadership role is fascinating. Could you share how you reached this point and what experiences helped or hindered you along the way?
Mari: Absolutely, I’d love to help inspire others. My career path has been unconventional. I began in the public policy field before transitioning to general management/client management.
Karin: That’s intriguing. What prompted you to switch from public policy to general management/client management?
Mari: My journey has been quite unique, with a career largely rooted in finance. Initially, I began in compliance before transitioning into strategic planning, and later, I moved into sales and relationship management roles, starting at State Street in the US and then in Japan. These roles granted me extensive client exposure and steered me toward a strategic position with a focus on Japan. In this capacity, I engaged in government relations, which broadened my skills and connections within Japan as well as with the American government. This shift represented a natural progression, expanding both my responsibilities and network, though I didn't fully grasp its significance at the time.
Karin: What happened after that role?
Mari: I was in that strategic role for nearly a decade before my boss offered me the position of Head of Sales and Relationship Management.
Karin: Were you expecting that offer?
Mari: No, it was quite surprising! Despite my lack of direct experience in sales and relationship management, my extensive external contacts led them to believe I was the right fit for the role.
Courage and Boldness: Paving the Way Forward
Karin: So, how did you make your decision?
Mari: Well, sometimes you need the courage to embrace a new role. I was excited to take that leap, and once I settled in, I found real happiness in the challenge.
Karin: And where did this courage take you in your career?
Mari: Stepping into the role of head of sales and relationship management brought a significant change in my responsibilities. This switch turned out to be a great move for me. It opened up a broader range of duties than I’d ever had, sparking a desire for even more responsibility. That decision really stretched my limits and grew my capabilities.
Karin: In your experience, how do Japanese women approach the desire for greater responsibility?
Mari: Sometimes, I’ve noticed Japanese women hesitating, saying “I can’t do it,” even when good opportunities arise. They often pass up the chance to advance. So, I wonder, was I just stupid or naive to take on my role?
Born Fearless and Determined
Karin: Why would you use the word 'stupid'?
Mari: 'Fearless' might be more accurate. I was unaware of the full scope of the role I was entering, but I'm truly glad I did. It led to significant learning experiences with colleagues across various functions. Many of these relationships have lasted, providing continued learning and connection in the industry.
Karin: Can we delve a bit deeper into where this courage to leap into new challenges comes from?
Mari: I believed that without trying new things, I would remain stuck. That mindset propelled me forward.
Karin: Is this a long-standing trait of yours?
Mari: Absolutely. I've always sought to expand my horizons and test my limits to avoid boredom and maintain my curiosity. This drive is crucial when transitioning to new roles; without curiosity, success is elusive.
Karin: You've highlighted courage, boundary-pushing, and curiosity as key lessons. Where do these traits come from?
Mari: I can trace them back to my childhood. Despite coming from a conservative, traditional Japanese family that opposed my studying abroad, I was determined. I financed my first year in the U.S. by working two jobs and navigating the academic and visa requirements independently, eventually convincing my parents to accept my decision.
Karin: What fuels this eagerness to explore and learn?
Mari: Curiosity to see what lies beyond Japan. I meticulously researched and chose the U.S. for my studies, even considering currency exchange rates to ensure financial viability.
Karin: What initially sparked your interest in exploring beyond Japan?
Mari: Music videos from the U.S. and other countries fascinated me, driving my early interest in foreign languages and cultures. I used dictionaries to understand the lyrics, which enhanced my language skills at a young age.
Karin: Has music remained a significant part of your life?
Mari: While I'm not a singer, music continues to be a source of enjoyment and inspiration for me.
Karin: How has your relationship with your parents evolved over time?
Mari: Our bond has grown stronger over the years, though my father's passing was a profound loss for me. It changed my role in the family dynamic, bringing me closer to my mother. Our frequent conversations have deepened our relationship, revealing new aspects of her personality and our connection.
Balancing Power and Perception as a Strong Woman
Karin: It’s clear that relationships can really transform when we make the effort.
Mari: Definitely. I’ve grown much closer to my mom. Recently, my boss pointed out that I come across as very strong at work, maybe even intimidating. It made me realize I needed to manage how others perceive me. After all, people have told me I'm quite funny and approachable in informal settings. This feedback was eye-opening, prompting me to consider if it’s my appearance or my English skills that might come off as intimidating, especially to my Japanese colleagues.
Karin: Navigating perceptions is a challenge for leaders. Do you have any advice for women on managing this?
Mari: I believe in being authentic and true to oneself while also adapting to others' needs. It’s important to show empathy and care, which might be perceived differently between genders, but it’s essential to express our genuine selves.
Karin: Do you think the business cultures in Japan and internationally, like in America, are different?
Mari: Fundamentally, they’re similar, but Japan has unique protocols. As many of my clients are Japanese, I respect these customs to be effective. My role often involves bridging Japanese and American business practices. In the conservative banking sector, mutual understanding is crucial for success.
Karin: How did you become accepted in the banking industry?
Mari: I’ve had mentors from the Japanese financial and public sectors who’ve helped me understand the local business and political landscape. They advised joining certain organizations to connect deeper with the Japanese community and stay informed. Being part of the American Chamber of Commerce also provides me with broader perspectives as well as trends impacting my business.
Karin: It seems you’ve learned to balance global trends with local insights, supported by a diverse network.
Mari: Exactly.
Karin: How do you reconcile your strong self-confidence with the guidance from mentors?
Mari: It’s interesting you mention that; I’ve been through executive coaching, and they’ve all noted my self-assurance. While I am confident, I value my mentors as a sounding board to help me think through decisions and gain additional insights. Ultimately, the decisions are mine to make.
Charting Your Path with Mentorship
Karin: How did you get started in your industry?
Mari: I began my real career as an executive assistant for the State Street Japan CEO. My boss saw my potential and determination early on. He not only mentored me but also acted as a career sponsor, constantly challenging me and broadening my network. His support was crucial in shaping my career, showing me the importance of having mentors and sponsors who actively push and guide you behind the scenes.
Karin: It sounds like having mentors and sponsors early in your career is vital. How do you view the mentor-mentee relationship? Can it be actively sought, or does it happen naturally?
Mari: It's a bit of both. A mentoring relationship thrives on honesty and sincerity from both sides. Mentors, particularly at the executive level, will invest their time if they see potential and believe the effort is worthwhile.
Karin: What advice would you offer to younger women?
Mari: It’s crucial for women to be clear about their goals. Initially, we might not know what we want, but it’s important to explore, gather information, and then seek guidance from mentors. This proactive approach helps in making informed decisions.
Karin: So, taking charge of what you want is essential?
Mari: Absolutely. You can’t make good decisions without sufficient information. Networking and actively seeking out information are key. People are more inclined to help when they see your potential and clarity in your aspirations.
Karin: Interestingly, I heard similar advice from a male CEO recently, emphasizing the importance of expressing your desires for career advancement.
Mari: That’s right. It’s essential to communicate clearly what you want, especially for women looking to re-enter the workforce post-maternity. It’s a shared responsibility to negotiate and find flexible solutions within the company's policies to facilitate this return.
Karin: Have you noticed a change in how younger women approach their careers today?
Mari: Yes, they seem more open to seeking advice and more proactive in their career paths. I encourage them to be bold yet realistic, ensuring they’ve done their homework before seeking mentorship or advice. It’s important to know what you want and be prepared to discuss it, even if it challenges traditional norms.
Understanding Comfort Zones for the Ideal Business Fit
Karin: It's refreshing to hear about these changes. Reflecting on your post-college decisions, what drove you to work for a U.S. company?
Mari: Initially, I worked for a traditional Japanese company as a compliance officer for three years, but I felt a strong pull to go the U.S. Eventually, I switched to an American company and have preferred working in American corporate environments ever since. I find them more aligned with my personal and professional style.
Karin: What about the American work culture makes you more comfortable?
Mari: Japanese societal norms, especially from my generation, were quite rigid. Our education system often enforced silence and conformity, which never really suited me. Although these norms are evolving, they were very pronounced during my youth, leading me to feel more at ease in the more open and less hierarchical American culture.
Karin: So, what brought you back to Japan?
Mari: A job opportunity arose in Japan, and I also wanted to be closer to my family, which influenced my decision to return.
Karin: Looking back, is there anything you would have done differently?
Mari: Yes, I would have managed the perception of being strong and unapproachable differently. In retrospect, I would have made an effort to be more open and accessible to change that perception.
Catalysts for Change: Inspirational Role Models
Karin: Do you have any Japanese female role models?
Mari: It's a tough question. Kathy Matsui and Royanne Doi stand out as role models for their approachability and networking skills, although they are more Americanized. In Japan, traditional role models are less common for me, but figures like the late UN leader, who came from a distinguished Japanese class, and Yuriko Koike, the Governor of Tokyo, are notable. Koike-san especially impresses me with her strategic communication skills and ability to lead a large organization effectively.
Karin: Koike-san certainly represents a strong figure in contemporary Japan.
Mari: Absolutely. Her adeptness at navigating complex political landscapes and her communicative prowess make her a standout leader in a challenging environment.
Ascending the Ladder from Specialist to President
Karin: Mari, it's enlightening to hear about your role models. Now, let’s discuss your transition from a functional leader to President. I’ve noticed that legal and compliance heads often struggle to shed their subject matter expert identity. How did you navigate this shift?
Mari: From the beginning, I’ve always aimed to grasp a broader perspective in every role I undertook. I focused on understanding not just the structures within my organization but also the external factors affecting our performance. It’s crucial to keep a pulse on the entire organization and be attuned to the people within it.
Karin: What excites you about being a general manager?
Mari: What I find compelling about my current role is the blend of local and global responsibilities. Representing a global company in Japan means balancing local requirements with worldwide business strategies. I thrive on this dynamic, especially when managing relationships with C-level clients and aligning our global bank’s operations in Japan. Building trusted partnerships over the years has been rewarding, and I love delivering solutions that meet our clients' needs, which also offers continuous learning opportunities.
Research Matters for Aspiring Professionals
Karin: Considering your experiences, Mari, what advice would you give to someone deciding on a company to work for?
Mari: It's crucial to thoroughly research a company’s culture and objectives to see if they align with your personal mission and values. In my view, working in the financial industry is impactful because it provides essential infrastructure for the world’s economies, which aligns with my belief in contributing positively to society.
Karin: When did you realize what was important to you in a job?
Mari: It became clear in my forties that I wanted to be in roles and industries beneficial to society. There are lucrative sectors I avoid because they conflict with my values. I seek out industries that make a positive societal impact.
Karin: More people nowadays want to work where their values align with the company’s.
Mari: Indeed, and I notice younger people are particularly keen on this alignment.
Karin: However, the abundance of choices seems to overwhelm many young job seekers.
Mari: That’s true. Many get distracted by the variety of options and struggle to commit because they haven’t defined what they want. It's essential to focus on personal goals, invest time in chosen paths, and remember that ultimately, the choice is yours.
Karin: In today’s changing work environment, how important do you think traditional values like loyalty are?
Mari: Loyalty remains significant, but in a broader sense, encompassing dedication to your company, relationships, and team. Building strong relationships and a sense of belonging within a team can provide satisfaction and recognition. Commitment and loyalty in one’s career can lead to personal and professional fulfillment.
The Art of the Pivot at Career Inflection Points
Karin: You have worked for several iconic companies; what made you change companies?
Mari: For me, continuous learning and self-discovery are important and whenever I felt that I am no longer doing that, I considered a change.
Karin: Based on this, what advice would you offer to young people?
Mari: When you realize that the environment or situation no longer aligns with your needs or values, it’s okay to admit and make changes. That’s part of growing up and learning. Recognizing what doesn’t work helps you avoid similar missteps in the future.
Karin: The key is not to keep repeating those mistakes.
Mari: Precisely. If a particular setting isn’t right for you anymore, it’s fine to move on, but ensure you learn from those experiences and make better decisions in the future.
Karin: Now, as an executive, what kind of network and support system do you have?
Mari: My family is my core support. Despite my ex-husband being significantly older, I have a close relationship with his children and our grandchildren. My mother is also a key part of my support system, allowing me to unwind. I also have a few close friends I trust deeply. However, having time for myself is crucial; it’s vital for my well-being.
Karin: How do you balance work, family, and personal time?
Mari: Work takes up a lot of time, but I make sure to carve out moments for family and myself, particularly post-COVID. Whether it’s cooking, exercising, or ensuring I get enough sleep, maintaining this balance keeps me grounded and prevents me from becoming irritable at work. While I try to stay positive, it’s natural to have off days; after all, I’m human.
Building Resilience for Success in Executive Roles
Karin: I’ve noticed that many young professionals have a misconception about executive roles, believing they entail more work the higher you climb.
Mari: It’s not so much about working more hours; the type of work you do changes significantly. It involves constant decision-making, which requires you to be in good mental and physical shape. The workload might not increase in hours, but the scope and impact of the work certainly do. And yes, the competition for these roles is intense; it’s not just about hard work but also thriving in a high-pressure environment.
Karin: How do you manage the stress and demands of your position?
Mari: Enjoying the job is crucial, but you also need to be prepared for changes, especially in the rapidly evolving financial sector. Staying adaptable is key to remaining relevant in the industry.
Karin: With the shift towards technology in finance, what opportunities do you see for women?
Mari: The evolution might seem to favor men, but I see significant opportunities for women to bring creativity and innovative thinking to the table. We’re at a critical point where traditional methods may no longer suffice, opening doors for women to play a crucial role in driving change and introducing new perspectives.
Karin: Are there examples where such transformation is already underway?
Mari: Definitely, in banking, for instance, we’re transitioning from traditional roles to becoming a platform for other companies. This shift represents a fundamental change in how we operate and offers numerous opportunities for women. In this new landscape, women won’t just be filling gaps; they’ll be central to the industry’s evolution, shaping how we work and what we offer.
Driving Transformation: The Role of Companies in Japan
Karin: Mari, considering the role of companies in Japan, what changes do you believe should be made to support women better?
Mari: Companies tend to be overly cautious with change. Despite regulatory and policy shifts, I don’t see substantial change happening, likely due to deep-rooted societal norms. For instance, the concept of seeking help, such as hiring domestic support, is not widespread, even though it could enable women to balance work and home life better. Companies need to truly listen to women who aspire to work, understand their needs, and provide necessary support, like flexible working hours.
Karin: Given these societal norms, it seems challenging to foster change.
Mari: Indeed, altering societal norms is daunting, but companies can lead the way by actively supporting women's professional journeys, encouraging them to seek help when needed, and adapting workplace policies to facilitate this change.
Karin: As we wrap up our interview, what’s one wish you have for the future?
Mari: Personally, I wish to spend more time with my family and seek greater flexibility in my work life.
Karin: Thank you, Mari, for your valuable insights. I wish you all the best in achieving these goals.
Mari’s 10 Leadership Lessons
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Mentorship as a Growth Catalyst: Point out the significance of seeking and providing mentorship, leveraging it for career advancement, and expanding professional networks.
Value-Driven Professional Path: Emphasize aligning personal ethics and values with career goals, ensuring that work is not only rewarding but also reflective of one’s principles.
Resilience and Well-being in Leadership: Focus on the necessity of building resilience, as success in executive roles requires not only mental acuity but also physical well-being, ensuring leaders are equipped to handle the demands and pressures of their positions while fostering a culture of health and sustainability. text goes here
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Championing Diversity and Inclusion: Advocate for creating inclusive work environments, promoting gender diversity, and implementing policies that support work-life balance.
Strength Balanced with Empathy: Underline the importance of combining decisive leadership with understanding and empathy, managing perceptions to be both respected and approachable.
Cross-Cultural Communication Mastery: Illustrate the importance of effective communication across different cultural contexts, especially in global roles, fostering mutual respect and understanding.
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Bold Decisions: Emphasize the importance of making courageous choices, stepping into unknown territories, and leading change, even in the face of uncertainty or risk.
Fearless Opportunity Seizing: Highlight the value of embracing new roles and challenges with courage, viewing them as avenues for growth and impact.
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Commitment to Continuous Learning: Stress the necessity of ongoing personal and professional development, adapting to new sectors and expanding skill sets.
Adapting to Industry Evolution: Discuss the necessity of staying abreast of industry trends and technological advancements, being prepared to lead through change and innovation.
Discover the inspiring leadership journey of Mari Matthews at BONY in our case study.
Dive into a world of remarkable executives with Karin’s insightful articles. Are you about to start your leadership journey or want to define your unique voice, reach out for a conversation that can reshape your trajectory at karin.wellbrock@kaygroup-asia.com. Your route to exceptional leadership begins with this dialogue!
Disclaimer: The views and opinions expressed in this interview are solely those of the executive and do not reflect the official policy or position of her organization. The executive shared her personal experiences and insights as a private citizen, not as a representative of her company or any other entity. This narrative is intended for informational purposes only and should not be taken as an endorsement or official statement from her organization.
ABOUT THE AUTHOR
Karin Wellbrock, Partner and COO at Kay Group K.K., anchors her expertise in a Tokyo-based consultancy specializing in leadership and organizational development. A certified Leadership and Team Coach, Karin is dedicated to propelling both seasoned and emerging executives to leave a significant imprint in their respective industries. Her 'Four Gem Model' assists in identifying the development needs and she helps the leaders strike an optimal balance between their personal ambitions and the practical demands of their professional roles, often guiding them into senior leadership positions. Beyond individual coaching, Karin extends her influence through her work with NGOs and startups, and through her writing. She delves into the journeys of 'Exceptional Leaders in Japan' and dissects complex leadership scenarios, thereby enriching the managerial toolkit for leaders striving for peak performance. Contact: karin.wellbrock@kaygroup-asia.com