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Stacie Mintz: Managing Director and Head of Quantitative Equity, PGIM Quantitative Solutions
18 de nov. de 2024
Starting her career at PGIM as an analyst in the multi-asset side of the quant business, Mintz set herself apart by making decisions when others hesitated, trusting her instincts and offering solutions. Rather than just alerting portfolio managers when money came in for the business to invest, she went a step further and proposed how she thought it should be invested.
"Nine times out of ten, the portfolio manager signed the trade ticket I presented, and when they didn’t, they explained why, which was a huge learning moment for me." This proactive approach didn’t go unnoticed, and earned her a promotion to portfolio manager, where she eventually oversaw $10 billion in assets for the Prudential pension plan.
In managing the asset allocation for pension plans, Mintz recognized the important role equities played in meeting pension promises. Her experience in using both fundamental- and quant-driven strategies to balance risk and return sparked her interest in being more involved in the evolution of PGIM’s quant core strategies, eventually leading to an equity portfolio manager role.
“I was able to use my experience in asset allocation to contribute to the evolution of our quant equity strategies. I also had a knack for explaining complex quant concepts to a wide variety of audiences, which helped grow the business and retain clients.”
Through her career, Mintz successfully navigated difficult market cycles, which included the bursting of the dot com bubble, the Great Financial Crisis, and Covid fear-driven markets of 2020. The experience in managing assets and client relationships during challenging times, along with her leaderships skills, made her an ideal candidate to take on the role of Head of Quantitative Equity, a role she took on in July 2020.
Strategies for success
Reflecting on what it takes to be a successful leader, Mintz emphasizes the value of collaborating with colleagues who have complementary skills and always coming to the table with solutions.
“I tell my team to identify the problems, but always come to the table with solutions too. There is great value in helping drive the success of the firm through continual evolution.”
Even if it involves stepping outside of one’s comfort zone to propose solutions that could be rejected, Mintz encourages taking that risk to foster growth. Public speaking, for instance, is her own stretch area—though her numerous media interviews might suggest otherwise.
“Investing is a fast moving, competitive industry. To be successful, I tell aspiring investment professionals that they not only need to understand and the importance of making good investment decisions on behalf of clients, but they also need to invest in themselves… it’s the best investment they’ll ever make.”
From graduating with her MBA from New York University and earning her CFA, Mintz knows how crucial it is to invest in personal growth and development. “Investing in yourself will always have a positive return and open the door to endless possibilities. It’s so important to continue to stay up to date on rapidly evolving industry developments, so we can successfully meet and exceed clients’ needs.”
"I took the initiative to lead before I was formally in a leadership role," says Stacie Mintz. “You don’t need direct reports to be a leader. You can influence, mentor, and shine without the hierarchy of a team reporting to you."
Inspired to empower others
While many individual qualities have shaped Mintz’s leadership development, she acknowledges the vital role of support along the way and cites Maggie Stumpp, PGIM Quantitative Solutions’ former chief investment officer, as her greatest inspiration.
“Not only is she brilliant, and I learned a lot from an investment perspective, but she also gave me a lot of room to grow.” Mintz says. “She trusted me, and I knew I could always go to her with questions… She believed in me, even when I doubted myself.”
Inspired and influenced by Stumpp’s leadership, Mintz aims to foster a similar culture of support and empowerment and has an open-door policy. She encourages informal communication through quick morning catchups, providing a forum for the team to hear the latest updates, while also giving space for opinions and feedback.
“I want to make sure that I delegate real responsibilities to them, and they feel empowered and valuable. I want them to trust themselves to make decisions, and that I'll support them.”
Supporting the next generation of leaders
For Mintz, part of supporting her team and the growth of the business means fostering the development of the next generation of leaders.
“I emphasize the importance of mentoring our junior team members to my senior portfolio managers, ensuring they’re engaged in meaningful projects that enable them to grow and develop, while highlighting their strengths and the value they bring to the team.”
She not only emphasizes skills development, but also being approachable and available to help with questions, especially around navigating the push and pull of work and home life. As a mother of three, Mintz knows how tough it is to build a successful career while raising children.
“It’s important to share the ups and downs of my journey, and how I got through them,” she continues, “There will always be bumps in the road where people feel like, 'I can’t do this,' but if we support them through those moments, it will lead to a more diverse senior team in the future.”
One key lesson Mintz reflects on is recognizing she felt “too much guilt” when her children were younger, particularly, when she had to make tough decisions about prioritizing her time. Mintz recalls, “I was always urging my kids to be the first to raise their hands for class activities and parties, so we could buy napkins or paper plates or pre-made items – because that’s what fit into my work and family’s busy schedule.”
Now that her children are grown, Mintz acknowledges, “My kids turned out great, and I was a big part of their lives.” It’s the same message she conveys to her team when they are navigating the challenges of balancing work and family, “It’s going to turn out much better than it feels in the moment.”
With an empty nest, Mintz still values a work-life balance, but now has more time to spend on her own pursuits such as fitness, golf and travel.
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