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An Icon for All Ages: a Conversation with Model and Activist Lauren Hutton

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An Icon for All Ages: a Conversation with Model and Activist Lauren Hutton Magazine AN ICON FOR ALL AGES: A CONVERSATION WITH MODEL AND ACTIVIST LAUREN HUTTON Fall 2019 CONTENTS Magazine 1 LETTER PHILANTHROPY & WEALTH PLANNING 12 CONTRIBUTORS A Letter to Our Readers Resilient Estate Planning in the Face of Kathryn George Unexpected Life Events Adrienne Penta 2 FEATURE Joann Gilbert-Holmes BUSINESS & INVESTING An Icon for All Ages: A Conversation 18 Kaitlin Barbour with Model and Activist Lauren Hutton Growing into the Future Alison Hutchinson Stacia Kroetz 8 FAMILY 22 FIVE QUESTIONS WITH... Jules Pieri Juggling Eldercare, Childcare and Work: Maura Cunningham Maura Cunningham Fitting In the Unpredictable EXECUTIVE EDITOR SPOTLIGHT 24 Adrienne Penta 10 BY THE NUMBERS Inside BBH Women Breaking Down Barriers EDITOR Kaitlin Barbour DESIGN BBH Creative Services 2 12 22 8 Women are taking great strides in professional leadership: 52% of management and professional-level positions are held by women, and 11% are top earners. In this issue’s infographic, we look at women leaders across industries who are making history. 10 18 24 WOMEN IN THE C-SUITE WOMEN ON BOARDS WOMEN IN FINANCE WOMEN IN STEM WOMEN IN RETAIL WOMEN IN EDUCATION Organizations with gender-diverse Rise in women financial In 2017, women held 18% of The retail industry holds the Number of women executive leadership are more services industry executives STEM leadership roles highest percentageB | Women &of Wealth women Magazine university presidents % likely to outperform on over past five years % 1966 2016 24 profitability and value creation CEOs 12 Rise in % % 17.6% women 21 27 31% C-suite professionals The financial industry has over past Women % the highest percentage in the 70 years software and CFOs 19 of women in top positions % past 40 IT leadership 27 years hires rose C-Suite 31% Fortune 500 Fortune 500 company boards with women CEOs CHRO 65% 33 at least one woman director % % Female-founded 9 30 1995 2018 CMO 53% tech companies % % % CIO/CTO perform 63 % Six-year rise in 9 23 25% better Empowerment and leading 28 women CMOs by example are key with a $ $ $ 35% higher return on capital than male-founded tech companies U.S. women with working mothers earn 23% more than women whose mothers did not work Sources: “Females in the US Workforce.” Catalyst, June 5, 2019. https://www.catalyst.org/research/women-in-the-workforce-united-states/. “Guide for Women in STEM.” Discover Data Science. https://www.discoverdatascience.org/resources/guide-for-wom- en-in-stem/. “The Data on Women Leaders.” Pew Research Center’s Social Demographic Trends Project, September 13, 2018. https://www.pewsocialtrends.org/fact-sheet/the-data-on-women-leaders/. “Women C-Suite Ranks Nudge Up-a Tad.” Korn Ferry, April 24, 2019. https://www.kornferry.com/institute/women-in-leadership-2019-statistics. “Women in Business: The Complete History.” All Business Schools, 2017. https://www.allbusinessschools.com/business-administration/women-in-business/. “Women in Science, Technology, Engineering, and Mathematics (STEM): Quick Take.” Catalyst, June 14, 2019. https://www.catalyst.org/research/women-in-science-technology-engineering-and-mathematics-stem/. “Women in the Workplace 2018.” McKinsey & Company, October, 2018. https://www.mckinsey.com/featured-insights/gender-equality/women-in-the-workplace-2018. | LETTER A LETTER TO OUR READERS In this issue of Women & Wealth Magazine, we focus on women who are breaking the mold and making history. We had the pleasure of speaking with women who are pioneers and leaders in their fields – these are women who have been “firsts” and are taking care to pave the way for the women coming after them. In our feature article, the legendary Lauren Hutton shares travails from her multifaceted career as a model, an actress and an activist. As the first model to secure a contract, she has changed the landscape of the modeling industry for the better, has been honored by leading high-end fashion Kathryn George designers and is an influencer for beauty at all ages. Hutton also talks about her motivation through Chairwoman it all: to travel the world. Liz O’Donnell, the founder of Working Daughter and the author of “Working Daughter: A Guide to Caring for Your Aging Parents While Earning a Living,” has created a community for women who are balancing caregiving, career and more. We recently sat down with her to discuss why eldercare and the 44 million caregivers in the United States deserve a spotlight. In this issue’s “By the Numbers” infographic, we chronicle the strides women have made in leadership over the years and across multiple industries. Adrienne Penta Estate planning is about more than taxes. In “Resilient Estate Planning in the Face of Unexpected Executive Director Life Events,” Wealth Planners Ali Hutchinson and Stacia Kroetz discuss the importance of flexibility in planning. The future is unknowable, but centering your plan on your values and communicating regularly with your fiduciary and your family will set your family on the path to success. This issue also includes an excerpt from Jules Pieri’s recent book, “How We Make Stuff Now,” about how entrepreneurs grow and scale their businesses. Pieri is the co-founder and CEO of The Grommet, an online marketplace for innovative products. As an entrepreneur and investor herself, she shares her insights into the world of entrepreneurship, being a founder and CEO and growing a business. The CW&W supports women in the creation and manage- Finally, in “Five Questions,” Maura Cunningham, founder and CEO of Rock The Street, Wall Street ment of wealth. We seek to (RTSWS) – a nonprofit organization that enhances high school girls’ financial literacy – discusses the create a dynamic and inclusive importance of increasing girls’ confidence in the M in STEM, engaging the next generation to pursue environment where women a career in finance and her journey in building RTSWS. can engage in conversations about wealth, family and We hope you enjoy this fall edition filled with women who are pushing boundaries. If you would values. like to be more involved with the CW&W, please do not hesitate to contact us at cw&[email protected]. We are committed to helping women business owners Kathryn George Adrienne M. Penta and those with substantial Chairwoman Executive Director wealth achieve their financial goals throughout the cycle of wealth creation, transition and preservation. BBH Private Banking serves female clients and their families through three integrated products and services: Private Wealth Management, Corporate Advisory & Banking and Private Equity. Fall 2019 | 1 | FEATURE 2 | Women & Wealth Magazine AN ICON FOR ALL AGES: A CONVERSATION WITH MODEL AND ACTIVIST LAUREN HUTTONBy Joann Gilbert-Holmes, Senior Relationship Manager, BBH Private Banking ifty-five years into her career, Street. I knew I was swamp smart, but Lauren Hutton – model, there I learned to be street smart. actress and activist – shows no signs of slowing down. One day in 1964, I was so tired, and As part of a dynamic, highly someone asked me, “What do you Fselective industry, Hutton has con- really want to do?” I kept thinking sistently questioned and changed over that question, and the answer the way the world sees modeling. was that I wanted to go to Africa; She was the first model to secure it had been my dream since I was a contract, has been honored by young. Another waitress said that leading high-end fashion designers she wanted to do that too, so we and is an influencer for beauty at all planned to meet in New York and ages. Throughout it all, a key driver take a steamer that she knew about of her passion and enthusiasm there together. comes back to a childhood dream: to travel the world. We recently sat My friend never showed up at the down with Hutton to discuss her New York airport. I had $200 on me, multifaceted career, the modeling two suitcases filled with everything industry through the years and sev- I owned and was all alone. I took the eral extraordinary experiences along bus to Port Authority and was terri- the way. fied when I got off. I had nowhere to go, but I remembered where Tiffany’s You have been in the modeling indus- was, so I hailed a cab and went there. try for 55 years. Tell us about how the It was a Sunday morning, and no one journey started. was out on the street. I got out and started crying because I didn’t know During college and before getting what to do. into modeling, I worked on Bourbon Street at a jazz nightclub as a waitress, Another girl who I vaguely knew often until 2 a.m., for about two and a had moved to New York. On the half years, which was exhausting. The off chance, I looked her up in the club’s opening night featured Dizzy phonebook. She said to come right Gillespie, and we integrated Bourbon over, and when I got there, I started Fall 2019 | 3 | FEATURE talking to her and her boyfriend about especially if I wanted to go to Africa. Once I had my book together, it came what I was going to do. He showed This sparked an increased enthusiasm time to find an agent. me the help wanted ads in the and excitement in me because I saw How did you approach that? Sunday New York Times, and we went the whole future opening up. through pages of them. I didn’t have By 1964, half of the U.S. was under 25 How did you eventually go from being a experience in anything, but I knew years old, and the best and brightest house model at Dior to revolutionizing I never wanted to waitress again.
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