BNY wealth boss: I had a better chance winning the lottery than sitting where I am today
Each week, we dig into the memory bank of the City’s great and good. Today, Jose Minaya, head of investment and wealth at BNY, takes us through his career and favourite Square Mile spots
CV
- Name: Jose Minaya
- Job title: Global head of investment and wealth
- Previous roles: Nuveen CEO, head of Teachers Insurance and Annuity Association of America Global Real Assets, investment roles at AIG, Merrill Lynch and JP Morgan
Age: 54 - Born: Washington Heights, New York City
- Lives: New York City
- Studied: Majored in Finance, Economics
- Talents: Golf, cooking
- Motto: Focus on what we can control. 80 per cent of what’s out there is noise
- Biggest perk of the job? No doubt the people and also learning new things
- Coffee order: Black coffee with milk
- Cocktail order: Bourbon
- Favourite book: Anything by Michael Lewis
What was your first job?
I took a summer job as a stock boy at a knife factory when I was 14 because I was motivated to buy a pair of sneakers I had my eye on. I made enough money to buy them but decided they cost too much for how hard I had worked and saved the money instead.
What was your first role in finance?
Ironically, the movie “Wall Street” was the first I knew of finance. I had planned to go into the United States Marine Corps and attended Officer Candidate School; however, last-minute I found myself at the JP Morgan recruitment booth at a college job fair. This led to my first role in the firm’s investment banking and M&A division. On my first day I showed up in a blue shirt and white collar with braces – looking ridiculous. I managed to survive the banter that followed and spent the first four years of my career there.
When did you know you wanted to build a career in financial services?
My parents were born in the Dominican Republic and I grew up in a Spanish-speaking neighbourhood. While the importance of education was instilled at an early age, very few in my community went to college and planning a professional future was foreign. I was good at maths and tried engineering and accounting and hated both. The dean of my school, who is still a friend of mine, steered me into finance. After earning my MBA, I took roles investing in both public and private, debt and equity. I started to gain confidence taking risks and went from managing investment portfolios to managing investment teams and platforms.
What’s one thing you love about Canada?
As a native New Yorker who has travelled to cities across the globe, London is the city I consider my second home. I love the diversity and energy and consider it a close cousin to New York.
And one thing you would change?
Lack of affordability which makes it hard for young talent to plant their roots here. The bigger and more diverse pool of talent you can attract the better your outcomes will be.
What’s been your most memorable job interview?
It has to be my first interview that led to my first job in finance. It introduced me to a world I never thought possible. I had a better chance winning the lottery than sitting where I am today.
And any business faux pas?
At the start of my career, on a bustling trading floor in the ‘90s, we had catered lunches and one time it was ‘sushi day’. I’d never tried sushi before, so assumed the bright green “stuff” was guacamole and piled it on my plate. Unluckily it was pure wasabi – and I went blind for what felt like a minute even if it might have only been a few seconds! It was my welcome to Wall Street and my first encounter with imposter syndrome exposed.
What’s been your proudest moment?
Being able to give back to the communities that helped me throughout my life. I was a Robert A. Toigo fellow at Dartmouth which enabled me to begin my leadership journey. When I became chair of the board of the organisation, that was one of the most humbling and incredible experiences for me. On a personal note, it’s been watching my two daughters grow into the people they are today.
And who do you look up to?
My parents and in-laws – they all immigrated to the US and exemplify perseverance. My mom was a housekeeper at the Waldorf Astoria in New York City and my dad was a dish washer. The pride my parents took in their work always stuck with me and is aligned with how I lead today.
What’s the best career advice you’ve ever been given?
The first time I presented to a corporate board, I was really nervous. My mentor asked, “Jose, which person on this board knows more about this subject than you?” I’d done my homework and the answer was, “No one.” He smiled and said, “Exactly.” In that moment two things clicked. The power of being prepared and that expertise breeds confidence – which makes up about 80 per cent of what resonates with your audience.
And the worst?
Probably my own. I spent years trying to fit in and was often encouraged to do so by those around me. Eventually I realised my real strength lies in being myself. Authenticity builds trust far faster than polish ever could.
Are you optimistic for the year ahead?
There’s never been a more exciting time for wealth and investment management. I just crossed my and often say I’m like a kid in a candy store. Our company and industry are going through transformational changes at an accelerated pace. I’m excited by what I am seeing in the massive wealth transfer opportunity, expansion of private markets, the rise of digital assets and rapid adoption of AI.
We’re going for lunch, and you’re picking – where are we going?
The Wolseley City – the architecture is incredible and the apple strudel is the best. We also recently had an in-office pizza lunch for our employees from Franco Manca, which gives NYC pizza a run for its money!
And if we’re grabbing a drink after work?
Shaws Booksellers, the trusted local for many employees near our London office. It’s a great place to connect with colleagues, make memories and celebrate small or big wins.
Where’s home during the week?
When not travelling, home is New York City. Like many Londoners and fellow New Yorkers, I thrive best within a vibrant fast paced financial hub.
And where might we find you at the weekend?
Anytime it’s over 18 degrees, find me on the golf course, otherwise in the kitchen cooking for my family. A perfect weekend I get to do both.
You’ve got a well-deserved two weeks off. Where are you going and who with?
Hands down going anywhere with my family. Cold, warm or hot – doesn’t matter.