IN CONTROL: Carol Nulman, left, managing partner of Oppenheimer & Co. Inc., finds satisfaction from her work, exercise and mentoring. She is pictured with financial adviser Gretchen Wallace and David Litwin.
Carol Nulman was one of the few women to succeed in the male-dominated world of high finance on Wall Street in the 1970s. “I had 125 men around me who thought I’d fail,” she said of her early days as the only female broker at Lehman Brothers Kuhn Loeb in Manhattan.
She still is breaking ground here in Providence through her work as a mentor, her pro-bono efforts for nonprofit organizations – perhaps most significantly of all – as managing director of the local office of Oppenheimer & Co. Inc., located in the city’s Financial District.
At Oppenheimer, where Nulman has worked since April 2009, she and her six-member team manage a total of $600 million for national and international clients, both individuals and institutions. It is a responsibility she feels keenly.
“I [exercise] seven days a week,” she said. “It’s a necessity. It’s not out of vanity or trying to get to a size six. It’s my release. You can’t be under this kind of stress without a release.”
Actually, stress is something that Nulman has always lived with, since those days in the late 1970s when she was recruited by the Xerox Corp. in New York City after receiving a Boston University bachelor’s degree in finance and marketing. Within six months of her hiring as a young college grad, she was “fast-tracked” and promoted, she said.
When Lehman Brothers in Manhattan called to recruit her, Nulman was not interested and only agreed to an interview because her father, the late Saul Nulman, urged her to do so. “He was my biggest cheerleader,” she said. Lehman Brothers hired her on the spot and doubled her salary. She was one of 12 Lehman recruits from high-tech companies at the time, 11 men and Nulman.