Ann Kaplan
Ann F. Kaplan (1946–2024)
Ann F. Kaplan was an American investment banker and philanthropist. She was one of the first women to be named a partner at Goldman Sachs, where she specialized in municipal bonds.[1] Following her career at Goldman Sachs, she founded Circle Financial Group and became a prominent advocate for women's financial literacy and independence.[2] She served as a trustee and advisor for numerous prestigious institutions, including Columbia University and Smith College.[3]
Early Life and Education
Kaplan attended Smith College, where she majored in government and graduated in 1967.[4] She described her career path as "circuitous," initially pursuing a career in social service. She earned a Master of Social Work (MSW) from Columbia University in 1972.
After realizing that the clinical practice of social work did not suit her, she worked as a healthcare consultant. This experience led her back to Columbia University, where she earned a Master of Business Administration (MBA) in 1977.[3] It was during her MBA studies that she discovered an interest in investment banking, specifically the use of municipal bonds to fund non-profit and governmental entities.[4]
Career at Goldman Sachs
Kaplan joined Goldman Sachs shortly after business school, specializing in the Municipal Bond Department. In 1990, she became one of the few women at the time to be named a Partner at the firm.[1] During her tenure, she headed the municipal bond department's healthcare financing group, applying her earlier interest in healthcare to financial markets.
Her presence at the firm was notable during an era when the senior leadership of Wall Street was overwhelmingly male. She later became a vocal advocate for the visibility and advancement of women within the firm, questioning why accomplished women often remained "invisible" in the public narrative of Goldman's success.[5]
Entrepreneurship and Wealth Management
In 2003, Kaplan founded Circle Financial Group, a "peer-to-peer" investment think tank composed of 12 women (many of whom were former Goldman colleagues).[2] The group was designed to allow high-net-worth women to manage their own portfolios while sharing research and expertise.
In 2007, she co-founded Circle Wealth Management, an advisory firm specifically tailored to the needs of women and multi-generational families.[4] Her work was driven by the observation that even highly successful women often lacked confidence in personal finance or felt neglected by traditional, male-oriented financial advisors.[2]
Philanthropy and Academic Leadership
Kaplan held extensive leadership roles at her alma maters and other institutions.
- Columbia University: She was a Trustee Emerita, served on the board of the Columbia University Investment Management Company, and chaired the Committee on Social Responsibility. She also taught asset management at Columbia Business School for a decade (2004–2014).[3]
- Smith College: She was a former trustee and was instrumental in founding the Women and Financial Independence (WFI) program in 2001. This program eventually evolved into the Jill Ker Conway Innovation & Entrepreneurship Center.[4]
- Board Memberships: She served on the boards of the Columbia University Irving Medical Center, the Mailman School of Public Health, and the Beijing and Amman Global Centers.[3]
Achievements and Awards
- Alumni Medalist (2022): Awarded by Columbia University for her distinguished service and commitment to the institution.[3]
- Smith Medalist: Recognized by Smith College for her professional achievements and service to the community.[4]
- Endowed Chair: She endowed a chair at Columbia Business School and supported the Manhattanville Campus expansion.[3]
Personal Life
Kaplan was married to Robert F. Smith (not the Vista Equity Partners CEO, but a different individual of the same name). She was a mother and often mentored younger women on balancing the high-pressure environment of finance with family life. She died in September 2024 at the age of 78.<ref name="
References
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- ↑ 1.0 1.1 "Ann Kaplan, An Early Female Partner at Goldman Sachs, Dies at 78". Financial Advisor Magazine. September 19, 2024.
- ↑ 2.0 2.1 2.2 Hymowitz, Carol (October 17, 2013). "Circle Financial's Ann Kaplan Takes a Team Approach to Wealth-Building". Bloomberg.
- ↑ 3.0 3.1 3.2 3.3 3.4 3.5 "2022 Alumni Medalist: Ann F. Kaplan". Columbia University Commencement.
- ↑ 4.0 4.1 4.2 4.3 4.4 "A Champion of Women's Financial Independence". Smith College. September 23, 2024.
- ↑ Zehner, Jacki (October 31, 2008). "Why Are Goldman's Women Invisible? (Asks A Former Goldman Sachs Partner)". Huffington Post.
