How A Young Black Grad Became Co-CEO Of A Multibillion-Dollar Investment Firm
Mellody Hobson’s rise to co-CEO of Ariel Investments, a history-making firm with over $14.9 billion in assets, is a tale of ambition, foresight, and resilience.
Meet Mellody Hobson
In 1991, as a student at Princeton, Hobson was on the brink of launching her career in the high-stakes world of finance.
With offers from major New York City firms in hand, she found herself in a moment of reflection in the basement of the then Woodrow Wilson School.
It was then that she made a pivotal decision.
“And I thought, ‘What am I doing?” Hobson told Fortune. “I can go and work directly with John Rogers, and I could sit at the feet of someone who’s so well respected, and he can teach me. I called John from a payphone, and I think I called collect.”
Rogers is the founder of Ariel Investments and a fellow Princeton alum.
Her peers questioned her decision, given Ariel’s relatively small size at the time. However, Hobson saw the potential for growth and learning under Rogers’ mentorship.
This decision marked the beginning of a long and fruitful partnership.
Hobson Joins Ariel Investments
Rogers, who had established Ariel Investments in 1983, quickly recognized Hobson’s talent.
From day one, he mentored her, ensuring she was present in significant meetings and actively contributing.
Hobson recalls, “I went from listening to being able to regurgitate to hopefully fine-tuning answers.”
Over nearly two decades, Hobson’s role at Ariel evolved significantly. She rose through the ranks, eventually being named co-CEO in 2019.
Hobson and Rogers’ partnership weathered numerous challenges, including the global financial crisis.
Their resolve and teamwork were tested during this tumultuous period, solidifying their bond and commitment to the firm.
Beyond Ariel
Aside from her impressive career at Ariel, Hobson’s impact extends beyond finance.
She is known for her philanthropic efforts through The Hobson/Lucas Family Foundation, co-founded with her husband, George Lucas.
Additionally, her roles as Starbucks board chair and a director at JPMorgan Chase highlight her broad influence in the business world.
