Cover Harshika Patel, CEO of the Asia Private Bank and Hong Kong CEO, J.P. Morgan
Harshika Patel, CEO of the Asia Private Bank and Hong Kong CEO, J.P. Morgan
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For our Thriving at the Top series, female leaders from Asia share how to sustain success as a CEO. Here, Harshika Patel discusses humbling learning experiences, her golfing journey and the power of pausing
In 2023, the highest number of CEOs at US companies left their post according to research by Challenger, Gray & Christmas since it began tracking 22 years ago. With the rate of new CEOs who are women rising year on year, the percentage of women leaving the top spot was 24 percent in 2023, up from 19.5 percent in 2022.
In our new series, Thriving at the Top, women CEOs share their insights on avoiding burnout and setting boundaries, balancing life and work, managing stress and investing in personal growth, as well as their advice for how other CEOs can lead with resilience and longevity. Here, Harshika Patel, CEO of the Asia Private Bank and Hong Kong CEO of J.P. Morgan, weighs in.
See also: Thriving at the Top with Nasaa Narmandakh, Monpolymet Group
How long have you been in the role of CEO/your current role of CEO?
I currently serve as the CEO of the Asia Private Bank and Hong Kong CEO of J.P. Morgan. I was appointed Asia Pacific CEO at J.P. Morgan Private Bank in late 2023, while I have been Hong Kong CEO at J.P. Morgan since 2021.
CEO burnout is common. Can you share any personal experiences or challenges you have faced in managing your workload and avoiding burnout as CEO? How did you overcome them?
Burnout can happen to anyone because we all have limits. It’s important to be mindful of the warning signs while taking a step back on a regular basis to understand what stress and burnout look like and reflect on lessons you’ve learnt. We are all different and this is why it’s crucial to recognise what works well for you and what doesn’t.
In the past, I’ve had the tendency to dive into problems and try to find solutions immediately, hoping to “change the world” overnight. Throughout my 30-year career in different roles, I have had my fair share of knock-backs from trying to “climb mountains” too quickly. The phrase “it’s a marathon not a sprint” is one that I have become used to hearing! I’ve come to realise that making real and sustainable progress involves much more than quickly addressing issues on my own. Instead, I have learnt that working more closely with people over time allows deeper, more impactful solutions to be found. Everyone has different strengths and operates at a different pace so it’s not about being the quickest to get there but the journey you share together. By connecting with as many people as you can, you build trust, share the highs and the lows, and end up reaching more rewarding milestones together.
Is work-life balance achievable for CEOs and other top-level leaders? How do you make time for friends and family / hobbies / self-care?
Work-life balance is achievable, but you have to be very deliberate with carving out time for yourself. I am six months into a new role, which brings a different level of intensity. Therefore, I have to be very conscious of being strict with my personal time and creating enough space for myself to take a pause and be truly present when spending time with my family and friends. It requires discipline as there will always be some days and weeks that require your full attention. When I do pause, I feel a material difference in mindset. As a CEO, everyone is watching how you are leading by example—whether it’s your kids, friends or even colleagues who aspire to lead one day.
So, what do I do when I am off the clock? It’s the simple things—you’ll likely find me having a natter with friends and family over good food and drinks, or taking a class with my young children. Learning to ice skate or play golf with them has been a great way to spend more time with them while learning new skills and finding new hobbies for myself. And yes, it is humbling when they pick up new tricks faster than me.
With balance comes the ability to be in the right headspace to remain calm and measured. Never rush into making a decision, always give yourself time to think and process. It also helps to surround yourself with people who excel in different areas so you can get a different perspective and lean on them for an alternative view.
What other aspects are important for sustainable leadership?
I owe a lot of my achievements throughout my career to my parents and husband who have always encouraged me to “keep trying” and “never give up”. My move to Asia in 2013 is one of the best decisions I made for my career and for my family. I have my husband to thank for pushing me over the line to make that decision. He was also selfless enough to move here with me in spite of having to leave his own exceptional career in London.
Continuous learning and personal growth are vital for sustainable leadership. What are some ways you invest in your own development amidst your busy schedule?
Drawing on three decades of financial services experience, I decided to take on the role of Asia CEO of J.P. Morgan Private Bank six months ago. I have been fortunate enough to have had a wide range of different personal and professional growth experiences throughout my career, which in turn has allowed me to keep learning from countless experts, managers and client situations. All of these experiences have enabled me to build on additional areas of expertise, which in turn have prepared me for my role today at the Private Bank.
Maintaining a healthy lifestyle by staying active is also important to supplement personal and professional development. How do I do this? Living in Hong Kong there is no shortage of options to be active and outside at the same time. I’m always so grateful to be a stone’s throw away from Hong Kong’s stunning scenery and immerse myself [in it]—whether that's a gentle stroll on the beach or even, from time to time, attempting something more testing on the mountains.
Above Jamie Dimon's address to the Harvard Business School’s MBA class of 2009 on lessons in leadership deeply resonated with Harshika Patel and is a resource she recommends
Are there any resources that have been helpful to you in your role as a CEO that you would recommend?
Life itself is a huge learning opportunity. Every new appointment or even a pivotal situation with my children, brings a new out-of-my-comfort-zone moment that presents another growth opportunity that is humbling.
Technology has also made it so convenient to access a world of information and knowledge at our fingertips anytime we want. Whether it is a book or a podcast, I like to closely follow a number of CEOs or people in leadership roles as I find that’s how I can quickly learn the different attributes that make a successful CEO. For example, when I joined the Asia Private Bank as CEO, I’ve drawn inspiration from how Satya Nadella has led Microsoft to success by leading with empathy and ensuring people were in the right role and capacity.
Closer to home, observing and taking notes on leadership styles within J.P. Morgan has also been material to my career. Jamie Dimon is a constant source of inspiration. One example that stuck with me was his address to the Harvard Business School’s MBA class of 2009 on lessons in leadership. There were many key takeaways from it but the two areas that resonated with me were to devote yourself to lifelong learning and that EQ is as important as IQ.
Beyond the realm of books and successful CEOs, one of my best resources is a friendship group that I have struck up in Hong Kong. It’s a group of “super women” who have very interesting and different backgrounds—they are great people that I can always count on. We have a WhatsApp group called the “Sun Hikers” because the original objective was to go for a hike every Sunday morning and it quickly evolved to much more than that. We all know that whatever the problem of the day is, there is always someone in that group that has a solution.
Are there any tips you can share for managing the stress that often accompanies a CEO role and maintaining a positive mindset?
It’s important to remember that CEOs, like everyone else, will have good days and bad days brought about by personal and professional challenges. Throughout my career, I’ve always made a point to put short breaks in the day to give myself headspace to recalibrate. In my case, it’s having a cup of English breakfast tea and finding someone to have a chat with about the latest TV shows and movies or the latest antics with our kids.
During your time off, it’s also important that you don’t compromise on things you enjoy doing. It could be as simple as getting enough sleep or sharing a good meal with friends and family. On weekends, I start my Saturday with golf lessons—it’s a journey. It’s such a technical game and one that I find very difficult. It requires a lot of focus but is also a form of mindfulness as I can’t afford to think about anything else. It’s a great way to unwind and kick off the weekend.
What advice, key practices or principles would you share to ensure CEOs lead in a sustainable manner?
I’ve always put emphasis on diversity, equity and inclusion because growing up in a diverse environment, one thing became clear to me early on—leading teams successfully requires diverse personal and professional experiences. For me, a key principle lies in hiring people who have different backgrounds and expertise than your own. By doing so, leaders will benefit from the broader perspectives of their teams and allow them to find new, creative ways of achieving results.
I am on a journey, and I have to keep reminding myself that while authenticity and humility are very important to lead thoughtfully, to lead effectively, it is key to sit back from time to time to take a breath and pause.
About
Rachel Duffell is regional content director for Power & Purpose, including Front & Female, and former regional content director for Tatler Dining. She is a journalist and editor who has been covering people, gender, impact, leadership, culture and lifestyle for more than 15 years.
