February is Black History Month, a time when we honor the experience of people of African descent in the U.S. and raise awareness of important developments that merit emphasis. The focus of this year’s theme, African Americans and Labor, is how work intersects with the collective experiences of Black people.
Traditionally, the Black community has been under-represented in finance and on Wall Street. Black History Month provides an opportunity to recognize those who have made their mark and are creating a legacy for others to follow in their footsteps. Moments into a conversation with Wall Street veteran Nina Batson, her passion for finance and banking and her commitment to diversity, equity and inclusion (DEI) shines through.
Few people know what they want to be when they grow up. But Batson wasn’t one of them. At two years old, she began memorizing the serial numbers on bills; at five, she toured the Federal Reserve Bank of New York.
She launched her career at Manufacturers Hanover Trust in her late teens and stayed with the bank through its mergers and acquisitions with Chemical Bank, Chase Manhattan and J.P. Morgan – eventually landing roles at MUFG and Barclays Bank. She held positions in asset management, client management and securitized products. She traded commercial paper, financed distressed debt for European credits, and worked on many prestigious mergers and acquisitions for companies including BP Amoco, Exxon Mobil, Verizon, Nissan and Honda.
That’s not to say that her career was all smooth sailing.
“I was in banking when the market collapsed in October 1987. I lost my job during the Great Bond Massacre of 1994. I was a trader when the financial crisis began in 2007 to 2008 – luckily, I didn’t lose my job. Unfortunately, I did lose my job again when COVID emerged,” Batson said.
“Through them all, I walked in faith and knew these setbacks were just hiccups that allowed me to use my skills and network to pivot my career,” she added.
Being a woman on Wall Street is no cake walk, Batson explains. Women come into the industry with the same knowledge and skills as men, but they typically have less opportunity. To her mind, instead of working harder, they need to use intelligent strategies and efficient methods to achieve their goals. They should observe their male colleagues, learn to read the room, find mentors and sponsors, and figure out what serves them.
“To survive in investment banking, there has to be something about you as an individual, some type of executive presence, that earns you a seat at the table,” she says.
In 2009, while working at MUFG, Batson teamed up with six other women and leveraged the Financial Women’s Association (FWA) to help set up the firm’s first-ever women’s network. Shortly after that, MUFG became a corporate sponsor of the FWA, and Batson became the bank’s relationship manager.
She went on to serve in several FWA leadership roles, and she took advantage of opportunities to upskill, network and enhance her career along the way. She became the 58th and first Black president of the FWA during its 65th anniversary. During COVID, she led the organization through virtual expansion, maintaining mentorship programs and launching the “No Member Left Behind” campaign. She also held the first International Business Conference post-pandemic in Bermuda.
As FWA president-elect, she led an ad hoc governance committee to help redefine the organization’s medium-term strategy, streamlining the board and strengthening FWA’s sustainability. Engaging with past presidents, she gained valuable insights to build a strong foundation for future leaders. Passionate about people and the member experience, Batson actively promoted FWA events through strategic outreach.
As FWA president, she prioritized showcasing corporate sponsors and fostering DEI. Among her big wins during her presidency was securing Jacqueline D. Van Ovost, a fourt-start general, to speak to the FWA twice.
When asked about the top challenges the industry is facing currently, Batson points to global warming, social upheaval and changes in the regulatory landscape, including DEI program closures. While the financial markets appear to be thriving now, she knows from experience that market fluctuations will occur in times of uncertainty.
“This isn’t the first time we’ve faced a major crisis or political upheaval in the last 30 years, when we’ve had to course correct,” she says. “DEI is the foundation for many creative ideas that enhance corporate performance, and I trust that companies will find a way to leverage different perspectives going forward.”
Read more: Half of U.S. companies won’t cut programs, but won’t talk much about them either
