One of the most memorable evenings of Gloria Nelund’s life took place in April 2005 at the Yale Club on Vanderbilt Avenue in Manhattan. Nelund was CEO of Deutsche Bank’s $50 billion North America private wealth division at the time, and she and her handpicked executive team were having a soiree. The food was bountiful, the wine flowed freely and the team’s esprit was sky high. There was much to celebrate. When Nelund took the helm in 2001, the private wealth division was losing $130 million a year. By first quarter 2005, the reformulated operation was solidly in the black and touting a whopping 25 percent profit margin.
But it was the post-celebration walk to her apartment that changed her life.
“I just thought, ‘Is that it?’ I realized that when you work so hard for something and you achieve it, there’s this big letdown,” Nelund says, “but this felt bigger than that. I really felt like I had achieved so