Diane Garnick
Encyclopedia
Diane Garnick is an American investment manager and a former investment strategist at Invesco. Garnick is the Chairman of the Investment Committee for CHRISTUS Health
, a health system providing care to the under-insured in Arkansas, Louisiana, Oklahoma, Texas and in Mexico. She is the founder of The Ladies in Red, an organization formed to create an opportunity for anyone, anywhere, to make a meaningful contribution to society. Garnick is the author of the upcoming book I'm Smarter Than My Boss. Now What?
Garnick later went on to earn her bachelors degree at Hofstra University
, and immediately began her Wall Street career. Garnick then became a CPA
.
Garnick is currently teaching a class entitled "The Fine Art of Failure" at Massachusetts Institute of Technology
. See Garnick on Failure
, Morgan Stanley
, and Merrill Lynch
. While she was on a project engagement at Merrill Lynch, she was hired to work in Merrill Lynch's Equity Derivatives Research team. In 2001, she joined State Street Global Advisors
(SSGA) as their Chief Investment Strategist. Garnick is now the Investment Strategist at Invesco, one of the world's largest asset management companies.
Her Wall Street
research focuses on all areas of portfolio construction that impact pension plans, foundations, and endowments. She has published reports focusing on equity derivatives, index investing, exchange-traded fund
s, taxation, corporate actions, and quantitative
investing as a whole.,
Garnick was an early supporter of requiring companies to include all of their derivatives on the face of their financial statements. In 1998, Garnick was named to the Derivatives Implementation Group 'DIG' at the Financial Accounting Standards Board
. In early 2001, Garnick again became involved in FASB meetings where she actively supported option expensing. In 2002, she was nominated as a practitioner representative to replace Gary Schieneman on the FASB Board, but declined the nomination to pursue her Wall Street career.
Garnick is a plan sponsor and pension advocate focusing most of her research on issues surrounding how companies and public entities can fulfill the retirement promises made to employees during their work lives and how individuals need to save and plan for their retirement. Her work on hedging risks in the portfolios of plan sponsors is used throughout the world.,
She gives credit of her fast ascent on Wall Street to the Literacy Program first developed by Barbara Bush
. That program provided books and tutors to underprivileged communities, including Diane’s. Her ferocious desire to learn coupled with the Literacy Program created an atmosphere that she says inspired her to read, understand, and eventually write some of the most complex theories, particularly in the area of finance. To date Diane has written and published over 100 pieces, many of which are in the area of finance.
Garnick served on the State University of New York
(SUNY) Scholarship Committee representing the community. In that role she helps to ensure that the funds she received as a student will be available to help future students.
Garnick is the Chair of the Investment Committee of CHRISTUS Health, a foundation focused on providing medical care to impoverished people throughout the United States and Mexico.
Garnick is highly supportive of charities that advance the welfare of children, especially direct support to children who are physically ill and/or socially challenged. She supports the Red Sox Foundation, which builds baseball fields in greater Boston for underprivlidged children. She is also involved in the Robin Hood Foundation
.
In 2008, Garnick was named A Champion for Children by the Council for Unity.
In 2008 Garnick was honored for her work with domestic abuse survivors by Take Higher Ground.
to her ex-husband.
CHRISTUS Health
CHRISTUS Health is a Texas based Catholic, non-profit health care company. The company includes more than 40 hospitals and other health care facilities in Texas, New Mexico, Louisiana, Arkansas, Utah, Oklahoma, Missouri, Georgia, and Mexico...
, a health system providing care to the under-insured in Arkansas, Louisiana, Oklahoma, Texas and in Mexico. She is the founder of The Ladies in Red, an organization formed to create an opportunity for anyone, anywhere, to make a meaningful contribution to society. Garnick is the author of the upcoming book I'm Smarter Than My Boss. Now What?
Biography
Garnick was born in New York. She was identified as a top scholar in elementary school and competed throughout the United States as a math and science champion in the early 1970s. Garnick grew up in a poor single parent household. She gave birth to her first daughter at age 15. After the birth of her child, Garnick returned to High School and completed grades 9,10,11 and 12 in two years. Garnick continued to raise her daughter and had the opportunity to attend college 6 years later.Education
Garnick initially attended Suffolk Community College in NY. During her second year there she was named to the USA Today All Star Academics Team. She donated her medal to the community college where they now have that medal and several other awards she received on display.Garnick later went on to earn her bachelors degree at Hofstra University
Hofstra University
Hofstra University is a private, nonsectarian institution of higher learning located in the Village of Hempstead, New York, United States, about east of New York City: less than an hour away by train or car...
, and immediately began her Wall Street career. Garnick then became a CPA
Certified Public Accountant
Certified Public Accountant is the statutory title of qualified accountants in the United States who have passed the Uniform Certified Public Accountant Examination and have met additional state education and experience requirements for certification as a CPA...
.
Garnick is currently teaching a class entitled "The Fine Art of Failure" at Massachusetts Institute of Technology
Massachusetts Institute of Technology
The Massachusetts Institute of Technology is a private research university located in Cambridge, Massachusetts. MIT has five schools and one college, containing a total of 32 academic departments, with a strong emphasis on scientific and technological education and research.Founded in 1861 in...
. See Garnick on Failure
Early career
Following her high school graduation she went to work at Anchor Bancorp, Inc. Garnick rose up the ranks quickly, but without a college degree she was unable to reach the management level. In an effort to keep her at the bank they made her their spokesperson in 1989. When they launched a new campaign entitled 'We're Your Anchor Bankers ... Here For You' Garnick starred in their commercials. In 1992 Garnick left the bank to pursue a degree.Wall Street Career
Garnick began her career at Deloitte and Touche LLP. Her projects entailed derivatives product control for clients such as Bear StearnsBear Stearns
The Bear Stearns Companies, Inc. based in New York City, was a global investment bank and securities trading and brokerage, until its sale to JPMorgan Chase in 2008 during the global financial crisis and recession...
, Morgan Stanley
Morgan Stanley
Morgan Stanley is a global financial services firm headquartered in New York City serving a diversified group of corporations, governments, financial institutions, and individuals. Morgan Stanley also operates in 36 countries around the world, with over 600 offices and a workforce of over 60,000....
, and Merrill Lynch
Merrill Lynch
Merrill Lynch is the wealth management division of Bank of America. With over 15,000 financial advisors and $2.2 trillion in client assets it is the world's largest brokerage. Formerly known as Merrill Lynch & Co., Inc., prior to 2009 the firm was publicly owned and traded on the New York...
. While she was on a project engagement at Merrill Lynch, she was hired to work in Merrill Lynch's Equity Derivatives Research team. In 2001, she joined State Street Global Advisors
State Street Global Advisors
State Street Global Advisors is the investment management division of State Street Corporation and the world’s second largest asset manager, with $1.9 trillion in assets under management as of June 2010....
(SSGA) as their Chief Investment Strategist. Garnick is now the Investment Strategist at Invesco, one of the world's largest asset management companies.
Her Wall Street
Wall Street
Wall Street refers to the financial district of New York City, named after and centered on the eight-block-long street running from Broadway to South Street on the East River in Lower Manhattan. Over time, the term has become a metonym for the financial markets of the United States as a whole, or...
research focuses on all areas of portfolio construction that impact pension plans, foundations, and endowments. She has published reports focusing on equity derivatives, index investing, exchange-traded fund
Exchange-traded fund
An exchange-traded fund is an investment fund traded on stock exchanges, much like stocks. An ETF holds assets such as stocks, commodities, or bonds, and trades close to its net asset value over the course of the trading day. Most ETFs track an index, such as the S&P 500 or MSCI EAFE...
s, taxation, corporate actions, and quantitative
Quantitative property
A quantitative property is one that exists in a range of magnitudes, and can therefore be measured with a number. Measurements of any particular quantitative property are expressed as a specific quantity, referred to as a unit, multiplied by a number. Examples of physical quantities are distance,...
investing as a whole.,
Garnick was an early supporter of requiring companies to include all of their derivatives on the face of their financial statements. In 1998, Garnick was named to the Derivatives Implementation Group 'DIG' at the Financial Accounting Standards Board
Financial Accounting Standards Board
The Financial Accounting Standards Board is a private, not-for-profit organization whose primary purpose is to develop generally accepted accounting principles within the United States in the public's interest...
. In early 2001, Garnick again became involved in FASB meetings where she actively supported option expensing. In 2002, she was nominated as a practitioner representative to replace Gary Schieneman on the FASB Board, but declined the nomination to pursue her Wall Street career.
Garnick is a plan sponsor and pension advocate focusing most of her research on issues surrounding how companies and public entities can fulfill the retirement promises made to employees during their work lives and how individuals need to save and plan for their retirement. Her work on hedging risks in the portfolios of plan sponsors is used throughout the world.,
Television
Diane makes regular appearances on CNBC, Fox and Bloomberg TV. Garnick became the number one rated contributor in 2008 when she primarily discussed the economic environment, the global job market and retirement savings.Philanthropy
Diane is the founder of the "Ladies in Red", a group dedicated to raising the profile of single women at charity events, which are often organized around couples. There are branches in several cities, and the group tries to focus on women's and children's issues.She gives credit of her fast ascent on Wall Street to the Literacy Program first developed by Barbara Bush
Barbara Bush
Barbara Pierce Bush is the wife of the 41st President of the United States George H. W. Bush, and served as First Lady of the United States from 1989 to 1993. She is the mother of the 43rd President George W. Bush and of the 43rd Governor of Florida Jeb Bush...
. That program provided books and tutors to underprivileged communities, including Diane’s. Her ferocious desire to learn coupled with the Literacy Program created an atmosphere that she says inspired her to read, understand, and eventually write some of the most complex theories, particularly in the area of finance. To date Diane has written and published over 100 pieces, many of which are in the area of finance.
Garnick served on the State University of New York
State University of New York
The State University of New York, abbreviated SUNY , is a system of public institutions of higher education in New York, United States. It is the largest comprehensive system of universities, colleges, and community colleges in the United States, with a total enrollment of 465,000 students, plus...
(SUNY) Scholarship Committee representing the community. In that role she helps to ensure that the funds she received as a student will be available to help future students.
Garnick is the Chair of the Investment Committee of CHRISTUS Health, a foundation focused on providing medical care to impoverished people throughout the United States and Mexico.
Garnick is highly supportive of charities that advance the welfare of children, especially direct support to children who are physically ill and/or socially challenged. She supports the Red Sox Foundation, which builds baseball fields in greater Boston for underprivlidged children. She is also involved in the Robin Hood Foundation
Robin Hood Foundation
The Robin Hood Foundation is a charitable organization, which attempts to alleviate problems caused by poverty in New York, United States.-History:Founded in 1988, Robin Hood was the brainchild of hedge fund manager Paul Tudor Jones...
.
In 2008, Garnick was named A Champion for Children by the Council for Unity.
In 2008 Garnick was honored for her work with domestic abuse survivors by Take Higher Ground.
Boston Red Sox
Garnick was first introduced to baseball in 2002. With almost no background in baseball, she immersed herself in the rules of the game and began developing and applying statistical analysis to the potential strategies involved in baseball. In 2004 Garnick traveled throughout the United States following the Boston Red Sox to more than 60 regular season games and every post season game to better understand the mechanics of the game. She is also well known for her recruiting efforts for the Red Sox Nation throughout the world. One such example of this is a video of her recruiting Chinese people on the great wall of China.Personal
Garnick is divorced and lives in New York City. She has two daughters. When she reached the age of 21 she married a toilet salesman. Thirteen years later, when she was the Global Derivatives Strategist at Merrill Lynch, she divorced her husband. She pays alimonyAlimony
Alimony is a U.S. term denoting a legal obligation to provide financial support to one's spouse from the other spouse after marital separation or from the ex-spouse upon divorce...
to her ex-husband.