Executive Vice President & Chief Operating Officer, Voya Financial
Even though I majored in economics and business as an undergraduate, it wasn’t until Tuck that I truly internalized so many of the underlying concepts. When I look back, I see that it helped me grow—not only as a businessperson, but as a human being.
His career began with 10 years in investment banking at The First Boston Corporation and Bear Stearns, followed by 10 years at Donaldson Lufkin & Jenrette, Deutsche Bank Securities, and Banc of America Securities as an equity research analyst. This experience, however, made him perfectly suited to join AIG as senior vice president, divestiture at a time when the company was facing financial-crisis-related challenges. At AIG, Karaoglan helped with the plan to repay the government by divesting assets through an IPO or sale. Karaoglan proved to be the perfect fit for shepherding the spinoff of Voya Financial from ING Group last year, a massive undertaking that called on Karaoglan’s broad industry expertise.
How are you transforming Voya Financial’s businesses?
Voya Financial is the former U.S. retirement, investments, and insurance businesses of ING Group. We went public in 2013 and, in order to get there, needed to prepare the company both inside and out—not only the “plumbing,” but also our operating performance. Our overall goal is to be the most transparent financial services company in the industry and so we outlined more than 30 specific margin, growth, and capital initiatives to improve our return on equity. Since we went public, we’ve made strong progress and our stock has appreciated roughly 100 percent. However, we need to continue to execute on our initiatives so that we can further improve our business performance.
What inspires your leadership, especially during this time of change?
Transparency. The only way a team achieves success is by trusting each other, which means being honest and even vulnerable. I define leadership success as having the right team that knows how to face problems as soon as they come up and works together to solve them.
How are you increasing awareness of the new Voya Financial brand?
We expect to spend approximately $100 million on advertising over the next two-and-a-half years. We want Americans to know that Voya Financial is the company that can help you with your retirement readiness, both financially and emotionally. Ultimately, the success of what Voya stands for will come from how—both individually and company-wide—we treat our customers, our employees, and our investors.
How did Tuck prepare you for your career?
Even though I majored in economics and business as an undergraduate, it wasn’t until Tuck that I truly internalized so many of the underlying concepts. What was very important, too, was the way people behaved and interacted—you do not get that emphasis on camaraderie at other business schools. On a personal note, my first son was born while I was at Tuck, so my time there was even more special and transformative. When I look back at Tuck, I see that it helped me grow—not only as a businessperson, but as a human being.
Over the years, how have you kept your professional balance?
My career path isn’t typical, but what I’ve always focused on is the journey and growing and learning along the way. So many fields have changed so much over the past 30 years, but one thing I learned early in life and in my career is to be open-minded. Yes, you set a course and are dogged in terms of achieving it, but when other opportunities present themselves, you want to evaluate them. The most important thing is to establish your principles and they will carry you through anything.
What is the outlook for the course you’ve charted for Voya?
I’m very excited because our plans are ambitious, but achievable. We’re on track to achieve our vision of being “America’s Retirement Company.” Our challenge is to continue to focus on the metrics that matter and on our mission to make a secure financial future: one person, one institution, one family at a time.
At BCG, A Small-Team Approach: Meet Cristina Henrik T’08
A conversation with Cristina Henrik T’08, managing director and partner at the Boston Consulting Group, on how private equity has evolved and what has stuck with her since her Tuck days.Read More
Leading with Purpose: Bank of America CFO Alastair Borthwick T’93
Alastair Borthwick T’93, CFO at Bank of America, reflects on his Tuck experience and the people-first approach that drives his success as a financial leader.Read More
Why We Need More Women Entrepreneurs—And Investors
A conversation with venture capitalist Elizabeth Davis T’20, an investor with the Anthemis Group’s Female Innovators Lab.Read More
Not a Map—More of a Compass: Meet David Grain T’89
David Grain T’89, founder and CEO of Grain Management, talks his career journey and what drives him during a fireside chat with Dean Matthew Slaughter, titled “Minority Participation in Private Equity.”Read More
Meet Tuck Alumnus Jose Minaya T’00, CEO of Nuveen
A commitment to building diverse, inclusive, and equitable structures across organizations is personal for Jose Minaya T’00, who was named CEO of Nuveen in 2020.Read More
Meet Tuck Alumnus Richard Noyes of Bartlett Associates
Meet Tuck Alumnus Richard Noyes of Bartlett AssociatesRead More
Noreen Doyle T’74, chair of the Newmont Mining Corporation, was the first woman to chair the British Banker’s Association in its 96-year history.Read More
Preserving Culture Through Banking: Meet Dawson Her Many Horses T’10
Dawson Her Many Horses T’10, SVP & Native American business leader at Wells Fargo, helps Native American tribes protect their way of life.Read More
Tuck Alumnus Named Head of Goldman Sachs’ Global Securities
At Goldman Sachs’ Global Securities Division, Tuck Alumnus Jim Esposito orchestrates a global operation managing risk for asset managers, pension funds, insurance companies, hedge funds, corporations, and governments.Read More
Bringing Order to the Chaos
Solving complex problems is what's kept Diego Ferro T'93 in finance for 25 years. Here's what he's learned.Read More
T’98 Rick Cardenas’ first job was bussing tables at a Red Lobster. Fast forward 25 years and he’s now CFO of Darden Restaurants which, until 2014, owned Red Lobster.Read More
Fun Finance: Lindsey Drake T’11 talks about her role as a senior finance manager at Amazon Books.Read More
James “Jim” Lindstrom
Jim Lindstrom T’01 has a career of both investment and senior operational roles—a unique perspective to lead a multinational corporation in today’s dynamic environment.Read More
As managing director of the Boston Forum of Golden Seeds, a national network of angel investors funding early-stage companies led by women, Deb Kemper T'95 lives by the motto: be the change you want to see in the world.Read More
Kathryn Baker T'93 is a true expert on boards of directors. She has served on more than 20 of them over the last 16 years, ranging from oil and gas companies to Norway’s Central Bank to Tuck’s own European Advisory Board.Read More
The Chinese economy has grown tremendously since 1989, and so have the opportunities for enterprising Tuck graduates, like Jie Lian T'01.Read More
Not many people in ball bearing sales finish their careers in venture capital. For Mike Carusi T’93, now one of the most successful health care investors in Silicon Valley, that unlikely journey started with two eye-opening years at Tuck.Read More
Williams College chief investment officer Collette Chilton T’86 is helping deliver big returns for the Little Ivy.Read More
Investor. Philanthropist. Entrepreneur. Roger McNamee T’82 is all of these and more in a career that has taken him to the top of the tech world.Read More
Navigating the present while honoring the past is a challenge for many Native people. Debbie Atuk T’04 has found a way to do both.Read More
After working in security sales for Goldman Sachs, Christopher Fox T'81 was drawn back to the public sector because he wanted to serve his community and for the intellectual challenge.Read More
At Tuck, Vicki Craver T'97 discovered a latent interest in financial strategy. Now, after a successful career at Goldman Sachs and raising a family, she applies her financial accumen to vetting nonprofit projects.Read More
Following five years in the mergers and acquisitions industry, Scott Frantz T'86 joined a few close friends in putting together a private equity and venture capital business.Read More
Sword, Rowe & Company CEO Daniel Rowe T’09 is blending his love of music into a successful career with the boutique merchant bank.Read More
In much of the Middle East and North Africa, cash is still king. PayPal’s Francis Barel T’05 wants to change that, and open people’s lives to the world along the way.Read More
One of Blair LaCorte T’90’s great skills as a leader is not only to guide a company from infancy to success, but to know when to set it—and himself—free.Read More
Christopher Williams T'84 harnessed his architectural and business skills to grow the Williams Capital Group into one of the most successful mid-sized investment banks in the world.Read More