Back to School! Carin Muhlbaum on her law career, her progression, and her unique plans for retirement
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Carin Muhlbaum, General Counsel ＆ Chief Administrative Officer, Americas, began working at Schroders in 1998. 25 years on, she plans to retire at the end of the year and will proudly hand her duties to the care of Ryan Chelf, who will become General Counsel, Americas, in January 2024.
We caught up with Carin to find out what makes her such an inspirational role model and esteemed manager, and what does life after Schroders have in store.
What makes a good manager?
In my role you need to have strong subject matter expertise and an ability to influence across different functions and regions. But leading a team also means that you must ensure people work well together.
When we’re recruiting, I try to push back against people defaulting to the question: “Is the candidate a good fit?”. Of course, you want someone who will work well with the team, but we need to take care that we don’t end up with a homogeneous team.
We need diversity of thought. I’ve tried to build teams of individuals who bring distinct perspectives, respect each other, have each other’s backs and who also want to have fun.
I feel strongly that nurturing talent is a fundamental part of managing people. I’m really proud and excited that we’re filling my role from within the team. Ryan has been working with me since 2012 and she's ready to take on this next challenge.
Whose responsibility is career progression?
The short answer is that we’re all responsible. You have to articulate what you want. but managers also have a big part to play. I don’t think we can put the responsibility solely on those seeking development opportunities. If you are clear with your manager, mentors in the firm, or other people you interact with, and they know what your ambitions are, then senior leaders have an obligation to help you achieve your goals.
How can people new to Schroders start building up a network outside of their team?
Be intentional. There are many opportunities to network including events sponsored by our employee-led networks, the Corporate and Social Responsibility Committee and our Sports & Social Committee, so sometimes you have to step out of your comfort zone and join in.
I’m an introvert so I don’t find it easy to walk in and work a room. I tended to say yes to most projects because it gave me an opportunity to meet more people and learn something new. I have a sign in my office: ‘Be brave enough to suck at something new’. People have heard me say it a lot, but I encourage people to raise their hand to work on something, even if you feel unsure or intimidated.
Have you ever tried and failed?
For sure! Many years ago I was approached by our then Global Head of HR to run the HR function in the Americas, on top of my General Counsel role, which I agreed to do. As it turned out it wasn’t my natural skill set - but I learned a lot.
What advice would you give to yourself in your early career?
Lean into your strengths and don’t try to be someone you’re not, find your authentic path and use your unique skill set to advance.
If you’re an introvert like me, you can either fake it, or you can be yourself and find a different way to impress.
What’s next for you?
I’m going back to school! I’ll be doing a one-year fellowship at Harvard for people who are transitioning out of their professional careers into activities intended to address societal challenges. There are about 45 people accepted into the programme each year. It starts in January, so I’ll be moving up to Cambridge and have just signed a lease for a new apartment. I’ve bought a new laptop and backpack so I’m ready.
I haven’t selected a key focus area to study yet. I’ve always been engaged in women’s equity issues and I'm interested in the migrant situation, specifically women who are highly skilled in the countries they are coming from and where we have the need for those workers to be deployed. The growing theme of loneliness as a real health crisis in the US is something I would like to learn more about, as well.
We’ll take several hours of classes a week together as a cohort but then the rest of the time I can take any classes at Harvard or MIT. I’m like a kid in a candy store with that course catalogue!
I have absolutely loved my time at Schroders and now I’m looking forward to my next chapter.
“It’s been an absolute privilege to work alongside Carin for over 11 years. As many at the firm can attest, Carin is an extraordinary lawyer, mentor and friend and her leadership has always been characterized by integrity, an unwavering commitment to the firm’s values and dedication to the development of her team. Carin will be missed immensely, and I can’t wait to see her thrive in the next exciting chapter!” – Ryan Chelf, Legal Counsel
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