Good morning, Broadsheet readers! Valentina Zarya (@valzarya) here. The Fortune MPW Next Gen Summit is in full swing, Donald Trump names another woman to his cabinet, and Citi is being sued for being an alleged boys’ club. Have a wonderful Wednesday.
• Kamala 2020? Democrat Kamala Harris just won a seat in the U.S. Senate, but she is already considered a top presidential contender.
Harris has a history of being a barrier-breaker. Earlier this month, she became the first African-American to be elected as a California senator. When she was first elected California’s attorney general in 2010 (she was re-elected in 2014), the daughter of Jamaican and Indian parents became the first woman, first African American, and first Indian American AG in the state.
So perhaps it’s no surprise that, speaking on a panel about the 2016 presidential election at the Fortune Most Powerful Women Next Gen Summit on Tuesday afternoon, three political power players all had Senator-elect Harris in mind when asked about the Democratic Party’s best hope for the 2020 presidential race.
NEWS FROM THE MPW NEXT GEN SUMMIT
• A beautiful bubble. Speaking on a panel on diversity at the Fortune Most Powerful Women Next Gen Summit in Laguna Niguel, Calif. on Tuesday afternoon, fashion designer Rachel Roy called the fashion industry a “beautiful bubble” of diversity that “includes many people that normally would be pushed away.” Read more
• Riding away from politics. SoulCycle CEO Melanie Whelan said the spin studio was a haven after Election Day. “We had some of the busiest days in the history of our company in the four days after the election,” she said on the Fortune stage. Read more
• Dreams for sale. Hayley Barna, who co-founded the beauty box subscription service Birchbox and is now a venture capitalist, told the conference that female startup founders would benefit from focusing less on the practical when pitching investors. Instead, she argued, they must remember to “sell the dream.” Read more
• In review. Recounting her first days as Facebook’s top recruiter, Lori Goler explained how she learned the importance of performance reviews. Read more
• An inspiring move. Apple global marketing executive Bozoma Saint John talked about how moving with her family to Colorado from Ghana at the age of 13—a critical and often awkward time for any teenager—turned out to be an important experience and a lesson in confidence. Read more
MOVERS AND SHAKERS: Teresa Teague, a former Hong Kong-based partner at Goldman Sachs, is co-founding a boutique investment advisory firm linking Chinese investors with foreign deals.
ALSO IN THE HEADLINES
• Trump taps Chao. Donald Trump has selected Elaine Chao to be his transportation secretary. Chao previously served as secretary of labor under President George W. Bush and is married to Senate Majority Leader Mitch McConnell (R-KY). She is the fourth woman named to a top role in the Trump administration. Wall Street Journal
• Another banking boys’ club? Former Citigroup financial adviser Erin Daly filed a lawsuit on Monday accusing the bank of running a “boys’ club” that favored men over women, treating her as a “glorified secretary,” and firing her in retaliation for being a whistleblower. Bank of America settled a similar case in September, in which former co-head of global structured products Megan Messina accused it of running a “bro’s club.” Fortune
• New laws of physics. Megan Urry is a former president of the American Astronomical Society and the first woman to head the physics department at Yale University. But her most recent accomplishment is taking a stand against sexual harassment: She announced that scientists with a record of sexual harassment would no longer be welcome at the astronomical society’s meetings. New York Times
• 2 letters, 1 company. Immediately after the election, IBM CEO Ginni Rometty wrote a fairly sunny open letter to Donald Trump, outlining her suggestions for his administration. An IBM employee named Elizabeth Wood took issue with the letter and penned her own. It was addressed directly to the CEO and offered Wood’s resignation. She perceived Rometty’s letter to be supportive of Trump’s “agenda that preys on marginalized people.” Fortune
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ON MY RADAR
Why Nancy Pelosi is in the hot seat New York Times
Simone Biles on fame, adoption, and meeting the president BBC
10 jobs where women earn more than men CNBC
Meet the woman in charge of protecting America’s borders Motto
Hillary Clinton’s words got Nikki Haley to run for office Slate
Get thee to a brokerage! Low rates turn nuns into traders Wall Street Journal