About this episode
Sruthi Lanka is clearly not the only CFO who began her professional career at blue chip investment house Goldman Sachs. However, she may be one of the only CFOs—if not the only one—who can trace her career roots to Goldman’s technology engineering team. Back in 2009, as the economic downturn dispatched a daily dose of bad news, Lanka was tasked with separating Goldman’s nervous bankers from their long-tenured messaging device of choice: the BlackBerry. “Most banks would not even entertain the idea of switching because the BlackBerry was so locked down and considered to be ironclad,” explains Lanka, who notes that while Apple’s iPhone had become a popular alternative to the BlackBerry inside a number of different industries, bankers were known for clutching their BlackBerrys—and Goldman was no exception. According to her, “We found that most Goldman employees were already living on the iPhone, but meanwhile they would still carry this clunky BlackBerry.” After 3 years with Goldman Sachs, Lanka found herself being led into another realm by the same curiosity that had once caused her to become an engineer and subsequently drawn her to all things tech. A typical self-question of the time was “How did bankers make the decisions that they made about about whether to invest or not invest?” “This was all lost on me as an engineer,” recalls Lanka, who would return to school for an MBA and subsequently open her next career chapter as an investment banker. With Royal Bank of Canada, Lanka advised clients during pivotal moments of their company’s trajectory. She found investment banking to be empowering, as she was able to work with seasoned CEOs and CFOs, but at the same time it was frustrating for her. Lanka tells us that it was then when she realized that she wanted to build a company rather than just advise others about theirs. This experience led her to MoneyLion, where as head of strategic finance she leveraged both her finance acumen and tech engineering skills to build a data team to help to realize the early-stage start-up’s data-driven vision—a combination of skills and collaborative approaches that she would once more rely upon after stepping into the CFO office at Public.com in 2020. Says Lanka: “It’s not about having all of the answers but about knowing the right questions to ask.” –Jack Sweeney