'Focus on yourself for sustainable growth'

• Published date: 26 February 2023
• Publication title: The Korea Times

Overcoming oneself should be a top priority for women to consistently develop their expertise in this male-centric investment banking (IB) industry, Ashley Hong, founder and CEO of APC Private Equity, said in a recent interview with The Korea Times.

"Being a woman is not a handicap, nor is it a weapon," Hong said. "I have seen so many women ? including myself ? struggling to defeat men and macho culture in the conservative IB sector, but this kind of competitive mindset may rob you of energy and passion in the end."

She advised aspiring young women to set a goal of focusing on themselves instead of looking outside.

"Regardless of gender, we all should get a clearer grasp of who we are and this process is the very beginning before people map out any other mid- to long-term career goals," she said. "I believe there is no such thing as a secret source to become a successful financier. Those who reach the rank can take complete control of their impulse and emotion. It may sound cliche, but this makes a big difference in the long run."

Hong is a rising figure in the country's IB industry. It took around 15 years for her to establish the private equity firm in Seoul after starting her financial career in 2004. She got her first finance industry job at Kyobo Securities, a mid-tier brokerage house here, and stayed there for about a decade, handling diverse projects.

"I have Bachelor's degrees in architecture and politics and international relations," she said. "At first, I wanted to run my business in the construction industry, but I found out that financing mattered more than architectural designing for successful development projects. So I joined the securities firm to get a better understanding of cash flow in the capital market."

Hong devoted herself to the company for about a decade and worked as a sales officer at the Kyobo affiliate's project financing division. Handling diverse projects ardently day and night, she was promoted to the firm's youngest team leader.

"Even a minor mistake was not allowed since it could incur huge losses to investors," she said.

Working day and night, she was enthralled by every successful project. "In corporate financing, for instance, timing matters most. When CFOs or CEOs of client companies thanked me for successful funding, I knew that I was doing something worthwhile."

Then the global financial crisis hit the industry. "After resolving the aftermath of the financial shock here, I experienced burn out. That was when I went to...