‘I only went into banking because people said it was the hardest job to get’: Propelle founder Ayesha Ofori
Each week, we dig into the memory bank of the City’s great and good. Today, Ayesha Ofori, former City banker and founder and CEO of female-focused investment platform Propelle, takes us through her career in Square Mile and Me
CV
- Name: Ayesha Ofori
- Job title: Founder & CEO, Propelle
- Previous roles: Wealth adviser, Goldman Sachs
- Age: 40
- Born: NW London
- Lives: NW London
- Studied: MSci Physics at Imperial and MBA from London Business School
- Talents: Reading people (I have a good sense of how people feel without them telling me). And netball – I’m a pretty good GS and GK
- Motto: It’s only crazy until you do it. (Technically Nike’s motto, but hey)
- Biggest perk of the job? Working from home and seeing more of my husband and kids vs a corporate job
- Coffee order: Don’t like coffee. I’m a Chai Latte with oatmilk kind of girl
- Cocktail order: Lychee martini
- Favourite book: Any good fiction that allows my brain to escape startup life and “rest”
What was your first job?
I tutored primary school kids maths when I was at university, but my first proper job was a sales assistant (kitchenware) at Peter Jones.
What was your first role in the City?
Investment banking analyst at Morgan Stanley, in the M&A team.
When did you know you wanted to build a career in finance?
Credit Suisse came to my uni and did a talk on investment banking. I only went to get a free popcorn maker. When I was there I learned about investment banking and that I could make a lot of money. At that time I had around £12,000 of student debt and so I thought it would make my mum happy if I got a well paid job to pay off my debt.
Also, I’ve always been very driven, so when people said banking was the most sought after, hardest job to get, I said where do I sign up. I was at Morgan Stanley for about 2-3 years, then during the financial crisis I decided to go to to London Business School and got an MBA. After that I still hadn’t figured out “what I wanted to do with my life”, so I went back to the only thing I knew, banking – but into a new role. By this point I knew myself better, knew what I liked and didn’t, and wanted a better role that suited my needs and lifestyle. So I joined Goldman Sachs in wealth management and stayed there for over six years. I was promoted to executive director and built a book of business of over £500m.
What’s one thing you love about Canada?
The hustle. It helps to keep me hustling and pushing forward.
And one thing you would change?
More women in senior positions/leadership. It would create a totally different vibe and experience for people.
What’s been your most memorable business lunch or meeting?
A client review meeting. I walked into the building and saw a guy at a desk who I assumed was the lobby guy for the whole building. I told him my name, he ticked me off a list and pointed to the lift and said go to floor 2. I got in the lift, went to floor 2, expecting to come into an office or hallway. I found myself in the middle of the client’s living room! She had lifts in her “flat”. It reminded me that when it comes to wealth there are levels and then LEVELS.
And any business faux pas?
When I joined Morgan Stanley I was supposed to be in the M&A team but they had initially assigned me to another team. I was really annoyed because I only wanted to be in M&A. I was complaining (a lot) about it in the lift to a friend of mine. Saying that I had other job offers and I would have gone to Goldman Sachs instead if I’d known Morgan Stanley were going to do this to me. I was completely oblivious that the head of investment banking was also in the lift standing behind me. By the time I got back to my desk I had a meeting request from HR and the head of investment banking. The good news is they moved me to M&A. But it wasn’t a good look. I came across very arrogant and entitled and I cringe every time I think about it.
What’s been your proudest moment?
Aside from things to do with my kids, like them getting top marks in tests, or great school reports or always winning the 100m sprint, it has to be launching Propelle. Actually getting the app out there and seeing women use it and love it, is a great feeling. Especially because of how absolutely ridiculously hard it is to start, fundraise for and launch a regulated fintech business.
And who do you look up to?
Women who are killing it. It doesn’t matter the industry, their age or country. I just admire women who do great things, or flip the narrative in their respective fields.
What’s the best business advice you’ve ever been given?
Built with the end in mind. So think of the end goal, then work backwards to see what you need and how you need to set things up. Set up systems and processes that will last, from the beginning.
And the worse?
“Take your time. Bootstrap – see what you can do yourself. You should learn how to code and build the app yourself” (That was before AI and no code solutions were as good as they are now). In my view, if you want to grow fast you need people. You have to hire fast, but also fire fast when people aren’t working.
Are you optimistic for the year ahead?
Yes. I always try to be optimistic, even if it feels like that can be hard sometimes.
We’re going for lunch, and you’re picking – where are we going?
If I’m picking but you’re paying then Novikov. I love their Asian menu.
And if we’re grabbing a drink after work?
Anywhere that does lychee martinis
Where’s home during the week?
Hampstead, North West London
And where might we find you at the weekend?
Doing something with my kids. Or if my mum has them, then I’ll be on my sofa watching Netflix.
You’ve got a well-deserved two weeks off. Where are you going and who with?
New Zealand or South Africa with my husband. (The kids can come if my mum or the nanny comes too).