Zoe Cruz
{{short description|Greek American banking executive}}
{{Infobox person
|name = Zoe Cruz
|image = Zoe_Cruz.jpg
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|birth_name = Zoe Papadimitriou
|birth_date = {{Birth date and age|1955|02|02}}
|birth_place = Greece
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|citizenship = American
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|known_for = Former banking executive at Morgan Stanley
|education = Harvard Business School
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|occupation = Business executive
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|spouse = Ernesto Cruz (div. 2014){{cite web| url=https://observer.com/2013/04/zoe-cruz-drowns-her-sorrows-in-a-7-34-m-fifth-avenue-co-op/|title=Zoe Cruz Drowns Her Sorrows in a $7.34 M. Fifth Avenue Co-op|author=Stephen Jacob Smith|publisher=Observer|date=April 13, 2014}}
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|children = 3
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Zoe Cruz (born Zoe Papadimitriou on February 2, 1955) is a Greek American senior banking executive and former co-president of Morgan Stanley. Currently, she serves as Founder and CEO of Menai Financial Group.{{cite web|url=https://news.bloomberglaw.com/business-and-practice/cryptocurrency-exchange-bitstamp-sees-two-top-lawyers-depart|title=Cryptocurrency Exchange Bitstamp Sees Two Top Lawyers Depart|publisher=Bloomberg Law|date=2021-04-21}}
Early life and education
Cruz was born Zoe Papadimitriou in Greece. At the age of 14, she and her parents moved to Massachusetts, United States. She graduated from Harvard University magna cum laude with a B.A. in Romance Languages & Literatures in 1977 and earned an MBA from Harvard Business School in 1982.{{cite web| url=https://www.vbprofiles.com/people/zoe-cruz-5475a78bb4e9fbdb5400004f|title=Zoe Cruz Senior Advisor at Promontory Financial Group|publisher=VB Profiles|access-date=April 2, 2019}}
Cruz is fluent in Greek, English, Spanish and French.{{cite web |title=Sentient Technologies Media Kit |url=https://kipdf.com/sentient-technologies-media-kit_5aed695a7f8b9aef818b4586.html |website=kipdf.com |access-date=12 March 2021 |page=8 |language=en}}
Career
In 1982, after graduating from business school and becoming a mother, Cruz was recruited by Morgan Stanley and had a 25-year tenure at the firm. She became a vice president in 1986, a Principal in 1988, and a managing director in 1990. From 2000 to 2005, she held the position of global Head of Fixed Income, Commodities and Foreign Exchange. She was appointed co-president on February 9, 2006.
In 2006, she was on the list of Forbes' 100 Most Powerful Women of the World and ranked in the #10 spot.{{cite web| url=https://www.forbes.com/lists/2006/11/06women_Zoe-Cruz_V9JO.html |title=#10 Zoe Cruz|work=Forbes|date=August 31, 2006}}
On November 29, 2007, Morgan Stanley announced that Cruz was resigning as co-president of the firm and that she would retire immediately.[http://dealbook.blogs.nytimes.com/2007/11/30/morgan-stanley-ousts-cruz-is-more-pain-ahead/index.html?hp The New York Times: Morgan Stanley Ousts Cruz; Is More Pain Ahead? (November 30, 2007)]{{cite book |last=Roose |first=Kevin |date=2014 |title=Young Money: Inside the Hidden World of Wall Street's Post-Crash Recruits |location=London, UK |publisher= John Murray (Publishers), An Hachette UK Company |page=65 |isbn=978-1-47361-161-0}}
Following Morgan Stanley, Cruz was on the board of trustees for the Harlem Children’s Zone, a nonprofit providing education and social service programs for children in New York. She also served on the Harvard College Dean’s Council, the board of directors for the Lincoln Center and as a full committee member for New York-Presbyterian Hospital.{{cite web |url=https://www.gsb.stanford.edu/insights/zoe-cruz-being-shoved-out-your-comfort-zone-has-advantages |title=Zoe Cruz: Being Shoved Out of Your Comfort Zone Has Advantages |last=Chandler |first=Michele |date=15 May 2010 |website= |publisher=Stanford Business |access-date=12 March 2021}}{{cite report | date=2004–2005 | title=Caring for Our Community 2004-2005 Annual Report | url=https://www.nyp.org/pdf/2004.05AnRptALL.pdf | publisher=New York-Presbyterian Hospital | edition= | location= | chapter= | section= | page=42 | pages= | docket= | access-date=12 March 2021}}{{cite report | date=2006–2007 | title=Letters from Home 2006-2007 Annual Report | url=https://ctsurgery.weillcornell.org/sites/default/files/nyp_0607_annualreport1.pdf | publisher=New York-Presbyterian Hospital | edition= | location= | chapter= | section= | page=48 | pages= | docket= | access-date=12 March 2021}}
Cruz also sat on the advisory board at Ondra Partners, an independent financial advisory firm founded in 2008.{{cite web |url=https://www.ft.com/content/2707c5b8-d8bc-11df-8430-00144feabdc0 |archive-url=https://ghostarchive.org/archive/20221211231257/https://www.ft.com/content/2707c5b8-d8bc-11df-8430-00144feabdc0 |archive-date=11 December 2022 |url-access=subscription |url-status=live |title=Revivalist Bankers |last=Mychasuk |first=Emiliya |date=15 October 2010 |website= |publisher=Financial Times |access-date=12 March 2021 |quote= }}
In 2009, Cruz started hedge fund Vorás Capital Management, a macro, and credit fund. The firm was converted into EOZ Global, a single family office that invests in startups, in 2012.{{cite web|url=https://www.bloomberg.com/news/articles/2012-05-09/zoe-cruz-said-to-liquidate-hedge-fund-voras-capital?sref=fBWIv79e|title=Zoe Cruz Said to Liquidate Hedge Fund Voras Capital|last=Kishan|first=Saijel|date=9 May 2019|website=Bloomberg|access-date=12 October 2020}} EOZ Global’s holdings span a number of industries, including biotech and manufacturing.{{cite web |url=https://www.wsj.com/articles/once-a-force-on-wall-street-zoe-cruz-moves-to-the-cryptocurrency-world-1527253200 |title=Once a Force on Wall Street, Zoe Cruz Moves to the Cryptocurrency World |last=Krouse |first=Sarah |date=25 May 2018 |website= |publisher=The Wall Street Journal |access-date=12 March 2021 |quote=}}
Cruz was appointed as a member of the Bowdoin College Investment Committee in 2012 and remains on the committee today.{{Cite web |title=Man Group appoints Zoe Cruz as Non-Executive Director |url=https://www.man.com/man-group-appoints-zoe-cruz |access-date=2023-05-31 |website=www.man.com |language=en-gb}}
In January 2014, Cruz, long dubbed "Cruz Missile," joined the Board of Anglo-South African financial behemoth Old Mutual as an independent non-executive director.[https://www.thetimes.com/business-money/companies/article/glass-ceiling-is-wiped-out-as-cruz-missile-hits-old-mutual-0f8n06wxjwc Costello, Miles] The Times: "Glass ceiling is wiped out as Cruz missile hits Old Mutual''; 7 January 7, 2014.[http://www.oldmutualplc.com/people/zoe-cruz.jsp Old Mutual] Old Mutual official website; accessed 10 Oct 2017. She sat on its board of directors through 2018.{{cn|date=August 2021}}
From 2016 to 2017, she was a senior advisor to regulatory consulting firm Promontory Financial Group LLC.
Cruz was appointed to the Advisory Council of the Harvard Kennedy School Center for Business and Government in 2016 and still serves on the council today.{{cite web |title=Advisory Council |url=https://www.hks.harvard.edu/centers/mrcbg/about/ac |website=www.hks.harvard.edu |publisher=Harvard Kennedy School Mossavar-Rahmani Center for Business and Government |access-date=12 March 2021 |language=en}}
Cruz was on the board of directors of Ripple from 2017 to 2019.{{cite web| url=https://www.americanbanker.com/news/zoe-cruz-joins-ripple-board-of-directors|title=Ripple adds Morgan Stanley veteran to board of directors|author=Brian Patrick Eha|publisher=American Banker|date=December 19, 2017}}
In 2018, Cruz was appointed a non-executive director and member of Man Group’s Board and Remuneration Committee, and she maintains these positions with the company to date.{{cite web |title=Man Group appoints Zoe Cruz as Non-Executive Director |url=https://www.man.com/man-group-appoints-zoe-cruz |website=www.man.com |access-date=12 March 2021 |date=29 March 2018}}
In 2020, Cruz founded Menai Financial Group, a firm that provides institutional-grade investment products, market making services and infrastructure for the digital asset space.
Accolades
In 2015, Cruz was named one of Fortune’s “Most Powerful Women in Business”,{{cite web |title=Fortune's 50 Most Powerful Women in Business 2005 |url=https://money.cnn.com/magazines/fortune/mostpowerfulwomen/full_list/ |publisher=Fortune |access-date=12 March 2021 |date=14 November 2005}} and was recognized by The Wall Street Journal as a businesswoman “In Line to Lead.”{{cite web |title=In Line to Lead |url=https://www.wsj.com/articles/SB113042654340581337 |publisher=The Wall Street Journal |access-date=12 March 2021 |date=31 October 2005}} She was named one of Forbes’ “Most Powerful Women” in 2005, 2006 and 2007.{{cite web |title=Zoe Cruz Joins Ripple's Board of Directors |url=https://ripple.com/insights/zoe-cruz-joins-ripples-board-directors/ |website=Ripple |access-date=12 March 2021 |date=19 December 2017 |archive-date=20 January 2022 |archive-url=https://web.archive.org/web/20220120174229/https://ripple.com/insights/zoe-cruz-joins-ripples-board-directors/ |url-status=dead }}{{cite web |title=The 100 Most Powerful Women |url=https://www.forbes.com/2005/07/26/cz_05powom_all_slide.html?sh=64aa4f442035 |work=Forbes |access-date=12 March 2021 |language=en |date=26 July 2005}}{{cite web|url=https://www.forbes.com/lists/2006/11/06women_The-100-Most-Powerful-Women_Rank.html|title=The 100 Most Powerful Women|website=Forbes.com|date=August 31, 2006|access-date=October 20, 2020}} Cruz was named as the highest paid woman by Fortune in 2006, with total compensation of $30 million. In 2007, she was recognized as one of The Wall Street Journal’s “50 Women to Watch in Business,”{{cite web |title=The 50 Women to Watch 2007 |url=https://online.wsj.com/public/resources/documents/info-50women07-sort.html |publisher=The Wall Street Journal Online |access-date=12 March 2021 |date=19 November 2007}} one of Fortune’s “6 CEOs to Be”{{cite web |last1=Sellers |first1=Patricia |title=6 CEOs-to-be |url=https://money.cnn.com/galleries/2007/fortune/0709/gallery.women_one_step.fortune/ |publisher=Fortune |access-date=12 March 2021 |date=2007}} and “Power 50”,{{cite web |author1=Katie Benner |author2=Eugenia Levenson |author3=Rupali Arora |title=The Power 50 |url=https://money.cnn.com/galleries/2007/fortune/0709/gallery.women_mostpowerful.fortune/16.html |publisher=Fortune |access-date=12 March 2021 |date=2007}} and one of American Banker’s “Most Powerful Women’s in Finance.”{{cite web |title=The Most Powerful Women in Finance for 2007 |url=https://www.americanbanker.com/news/most-powerful-women-in-finance-2007 |publisher=American Banker |access-date=12 March 2021 |language=en |date=2 October 2007}} She has also been named one of Crain’s New York’s “Most Powerful Women.”{{cite web |title=Most Powerful Women |url=https://www.crainsnewyork.com/awards/zoe-cruz |website=Crain's New York Business |access-date=12 March 2021 |language=en |date=16 September 2007}}
References
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Category:Greek emigrants to the United States
Category:Radcliffe College alumni
Category:Harvard Business School alumni
Category:Women business executives
Category:Greek women in business
Category:People associated with cryptocurrency
Category:21st-century Greek businesspeople
Category:21st-century Greek businesswomen