Michelle Doscher, Executive Director, Commission Management Services, Instinet won Excellence in Commission Management at Markets Media Group’s 2022 Women in Finance (U.S.) Awards.
What is your reaction to winning the award?
Being recognized with this award for Commission Management is such a wonderful and meaningful honor to me. I’m deeply touched that Instinet senior management supported me for the nomination. I don’t consider it to be just my award though because my wider Commission Management team works so incredibly hard. It’s because of the amazing team and their dedicated service ethic that Instinet is a top-ranked CMS provider.
Please tell us about your role and daily responsibilities at Instinet.
I’m an Executive Director managing Instinet’s Commission Management Services (CMS) area, including all Soft Dollar and Aggregation business. As part of my role, I also oversee Instinet’s Plazma® platform, which involves working very closely with our software developers to implement innovative soft dollar solutions for our clients. Another big part of my day to day is about collaborating closely with our regional CMS department heads in the UK and Hong Kong to streamline our global business.
How did you get started in financial services and is this the career you envisioned? If not, what had been the plan?
Actually, early on I was thinking about a career in Marketing and that was the concentration of my Bachelor of Business Administration (BBA) at Hofstra University. But after graduation, I had an opportunity come around with Kemper Clearing Services. I was in their two year Management Trainee Program for Clearing and Operations.
When I finished that program, I came aboard with an offer at Instinet in 1994. The role was to help our back office become a self-clearing entity. Shortly after, I was asked to create and develop the Securities Lending Department and after 28 years, I’m still here at Instinet. I’ve been managing the CMS Department since 2009. That’s also why this award means so much to me.
What is your greatest professional achievement?
I’m incredibly proud to have grown at Instinet from all those years ago to lead our Commission Management organization. And, as a woman, I’m very proud of all the trust that management has placed in me over the decades to take the business forward. The fact that we’re consistently ranked very highly by the industry feels like such a great achievement as well.
Tell us about your passions outside the business.
My greatest passions are my two teenage daughters and striving to be a good role model for them. Outside of work, I’m also an active volunteer and Chairperson of the Executive Committee for The Leukemia and Lymphoma Society Big Climb Event. Being an Active Participant and Fundraising Team Member for the American Cancer Society Annual Breast Cancer Walk for the past 15 years is also very dear to me. I get so much joy from being a part of these initiatives and helping to make an impact for their causes.
How does your firm support women and diversity, equity and inclusion (DEI) in general?
At Instinet, we’ve created the ”Inspire Network”. It’s an employee led program that keeps these initiatives top of mind in our firm’s culture. Through our parent company Nomura, we also have access to diversity focused organizations, including several that are specific to the advancement of leadership and networking for women. Thank you to Markets Media as well. Your signature regional Women in Finance events shine such a bright light on female accomplishments in the industry and it’s so helpful toward inspiring the next generation of women in our space.
