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'After 25 years in banking, wealth creation is not what drives me'

21 June 2021 8:14 PM
Tags:
The Money Show
Bruce Whitfield
Colin Coleman
money beliefs
Yale University
Goldman Sachs Sub Saharan Africa
Other People's Money

The Money Show's Bruce Whitfield interviews Colin Coleman, formerly of the Jackson Institute for Global Affairs (Yale University).
  • Coleman’s parents were activists

  • After a quarter-century in banking, what drives him now is giving back to society

  • Coleman is conservative with his money, but wildly indulges in travelling

© grinvalds/123rf.com

Popular “Other People’s Money” articles:


Every week The Money Show’s Bruce Whitfield interviews a famous person about her or his attitude to money (hopes and fears, successes and failures, etc.) as part of his “Other People’s Money” feature.

This week Whitfield interviewed Colin Coleman (58), formerly a Senior Fellow and Lecturer at the Jackson Institute for Global Affairs at Yale University (scroll up to listen).

Coleman is probably most well known for being the CEO of Goldman Sachs for Sub Saharan Africa.

He left Goldman Sachs for Yale in January 2020.

  • What is it that Coleman believes about money?

  • Does it keep him up at night?

  • Does he spend like crazy or save compulsively?

  • How did his childhood experiences shape his views on money?

It sounds easy to say, but having spent 25 years in banking… Wealth creation is not what drives me… If I was in a government service role, I wouldn’t take a salary.

Colin Coleman, former lecturer - Yale University

I’m quite conservative… I’ve invested in physical assets, and saved along the way… I have children at international universities…

Colin Coleman, former lecturer - Yale University

A lot of people get this wrong. At some point you’ve earned enough… and you’ve got to give back to society…

Colin Coleman, former lecturer - Yale University

If I have one indulgence… it’s traveling. I’ve been to New York twice this year… an expensive thing to do!

Colin Coleman, former lecturer - Yale University

Scroll up to listen to the interview.

My father became a parliamentarian in the first Mandela government… My mom was in the Gauteng legislature…

Colin Coleman, former lecturer - Yale University

I was able… to get Buthelezi and Inkatha into the elections at the last minute…

Colin Coleman, former lecturer - Yale University

I completed my Yale stint, and I’m back in South Africa full-time…

Colin Coleman, former lecturer - Yale University

The Zuma era plus Covid has really put the Ramaphosa administration under huge amounts of pressure… We really need growth going… The government has to do unorthodox things such as an employment grant… The situation is not improving…

Colin Coleman, former lecturer - Yale University

The last third of my life is about investing in society. That’s what’s driving me.

Colin Coleman, former lecturer - Yale University

This article first appeared on CapeTalk : 'After 25 years in banking, wealth creation is not what drives me'




21 June 2021 8:14 PM
Tags:
The Money Show
Bruce Whitfield
Colin Coleman
money beliefs
Yale University
Goldman Sachs Sub Saharan Africa
Other People's Money

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