“Anything is possible in America,” says Ed Hajim. “And that road of life is always under construction.”
He should know. At a very early age, life took him on a journey from one dire situation to the next, from unfamiliar foster homes to crowded orphanages, from having one semi-present parent to having none.
Yet somehow, using his own grit and determination, Hajim flourished. His life came full circle and he has lived the American dream as an accomplished, respected Wall Street executive, philanthropist and model family man.
Hajim documents his incredible story in On the Road Less Traveled: An Unlikely Journey From the Orphanage to the Boardroom (Skyhorse). Hajim recently shed more light on his life and provided some valuable lessons learned.
Q: What is the meaning behind the title of your book, On the Road Less Traveled?
A: My life followed a very different road than most, and many times in my life I either was forced to choose or by my own will chose to take “a different road” — one less traveled.
Q: You are quoted as saying “A bend in the road is not the end of the road.” Please tell us how this quote served as an inspiration for you over the course of your incredible journey.
A: It means if things do not go the way you think they should, or go against you, it is not the end of the road. In my life, I had many bends in the roads I traveled and learned that the bend in the road is just that — an unexpected turn. You have to be able to carry on, move ahead and not be a victim.
Q: How did the struggles and difficult circumstances you faced as a child come full circle to help you get to where you are today?
A: Many childhood disadvantages became advantages in later life. Having been subject to 15 to 20 location changes in my first 18 years gave me adaptability; being beaten down and having to continue to get up gave me resilience (it is like a muscle, the more you use it). These disadvantages also gave me perseverance; later on, empathy, and finally gratitude.
Q: What are some of the most important lessons you learned navigating the corporate/financial world?
A: You must always be thinking about what is next. Culture is far more important than numbers. Politics can rule everything — you can do all the right things and still fail. The golden rule is supreme. I found that my secret was helping people exceed their own expectations and never taking credit but deflecting it as much as possible. You can’t do everything yourself, so you must find the right partners.
Q: How much can people actually create their own breaks, and how much does luck play into realizing success in whatever endeavor you choose?
A: Skill is very important, but luck is essential. You must prepare yourself to see and take the breaks when they appear; a prepared mind has a better chance of being lucky, but a little luck is usually essential. It was for me.
Q: Outside of your experience as a youth, of course, if you had to do anything differently today along your road to success, what would it be?
A: When I sold the company for the second time and fulfilled my contract with ING, the buyer, I was 66. I had sort of retired from running a hedge fund and was unwilling to build another business. This was a significant mistake — I should have known better than to think you can do anything halfway. I did not realize how young 66 was. I had a great record, but refused to market the fund. That meant that it never got big enough for me to really add the major partners who could have carried on when I decided to dedicate myself to the nonprofit world.
Q: What would you say is your most gratifying accomplishment?
A: My family; I’ve been married for 55 years with three children and eight grandchildren. Next would be the work I did as chairman of the Board of Trustees at the University of Rochester.
Also check out our extensive interview with Hajim here, and for more information about On the Road Less Traveled, read our review here.
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About Ed Hajim:
Ed Hajim is a seasoned Wall Street executive with more than 50 years of investment experience. He has held senior management positions with the Capital Group, E.F. Hutton, and Lehman Brothers before becoming chairman and CEO of Furman Selz. Hajim has been the co-chairman of ING Barings, Americas Region chairman and CEO of ING Aeltus Group and ING Furman Selz Asset Management; and chairman and CEO of MLH Capital. In 2008, after 20 years as a trustee of the University of Rochester, Hajim began an eight-year tenure as chairman of the university’s board. In 2015, he received the Horatio Alger Award, given to Americans who exemplify the values of initiative, leadership and commitment to excellence and who have succeeded despite personal adversities.
