10 Things You Didn’t Know about Ram Sundaram
From the time Ram Sundaram joined Goldman Sachs in 2001, his salary has increased by more than six times. In 2001, he was a vice president, earning an average salary of $150,000. However, he has climbed the ladder to become a partner and now takes home at least $950,000. The executive also has an opportunity to dip his hands in the special bonus pool and invest in fee-free funds. Let’s tell you more about Ram that you probably did not know since he barely talks about himself.
1. He was once Sarah Jessica Parker’s neighbor
Vanity Fair published the story of how Sarah Jessica Parker was planning to renovate two houses she had bought for $35 million. The actress already had a house on 11th street, and the two houses would be in the same block, at 273 and 275W. Ram had bought a house in 2015 also on the same block, at 269 W, making him Sarah’s neighbor.
2. He made $6 million from the sale of his house in the Hamptons
In June 2019, different sources reported that homes in the Hamptons were losing value. For instance, in the first quarter of 2019, sales had dropped 19.3; a trend that had been consistent in the previous five quarters. Ram probably foresaw the fate that awaited him hence in 2017 sold his house for $27 million. According to Mansion Global, the buyer was Marcelo Claure, the CEO of SoftBank Group International.
3. He was mentioned among traders that led to the Goldman Sachs AIG disputed deals
After the collapse of AIG, it was speculated that Goldman Sachs would benefit the most because they held less valuable security. Ram, according to five Goldman Sachs employees, ensured that Goldman Sachs would not go at a loss by using financing from other banks such as Calyon and Societe Generale to buy less risky mortgage security from competing firms like Merrill Lynch. Ram then insured the mortgage securities with AIG, which was explained to cause damage in the long run and AIG eventually collapsed. Goldman Sachs took $12.9 billion, despite insisting that the firm was fully collateralized and did not need the bailout money.
4. He was made partner at Goldman Sachs in October 2008
Following the collapse of the renowned insurance firm, AIG, Ram was made partner in Goldman Sachs. According to Reuters, he was among the 94 employees who joined the Elite Partner Class of Goldman Sachs. Ram and Devesh P Shah were the only two Indians who made the cut, each having been made a managing partner in 2005 and 2006 respectively. The bank promotes its employees to partners every couple of years, and joining the Elite club allows partners to partake of the special bonus pool that could amount to a few million dollars.
5. He received the Distinguished Alumnus Award from Simon Business School
The Distinguished Alumnus Award is among the various awards that the University of Rochester bestows upon its former students in recognition of their efforts. It was established in 1985 to appreciate alumni whose outstanding professional achievements bring honor to Simon Business School and themselves. He graduated from the institution in 1991 with a master’s degree but has remained a major supporter of the school. Ram usually makes keynote speeches during events and activities held by Simon Business School.
6. He is a board member of the Child Mind Institute
According to the Child Mind Institute Website, its board of directors comprises individuals who have committed their years of experience and energy towards the child mental health cause. Ram Sundaram sits on the board as the co-chair; the other chairperson is Brooke Garber Neidich. The institute also has celebrities like Emma Stone and David Shapiro on its board of directors; Emma Stone joined the board in January 2019.
7. He was honored with the Child Advocacy Award in 2013
Besides being a board member of the Child Mind Institute, Ram walks the talk by supporting the noble cause of the organization. In 2013, as the institute held its fourth annual dinner where it raised $6.6 million aimed at facilitating better mental health care for children, Ram was a recipient of an award. The Goldman Sachs partner was awarded the Child Advocacy Award in recognition for his contribution towards the growth of the institute and his philanthropic efforts. The other recipient Dr Rakic, who got the Distinguished Scientist award; both awards were courtesy of Michael Aram who not only designed but donated them too.
8. He met Brooke Garber Neidich in 2008
When Brooke and Ram met, it was fate that brought them together. At the time, Brooke had just taken over the family business, and Ram had made partner. However, what cemented their friendship is the shared passion for children’s mental health. Brooke’s son was diagnosed with Attention Deficit Disorder when he was ten. Since then, she has been committed to helping other families deal with whatever mental issues their children may have. Ram, on the other hand, disclosed that parents tend to blame themselves and through the institution, Brooke and Ram provide education and treatment options.
9. His vision for the Child Mind Institute
As the co-chair of the Child Mind Institute, Ram hopes that one day the organization will grow to be like the Dana-Farber’s Jimmy Fund Clinic. The Jimmy Fund Clinic at Dana-Farber Cancer institute prides itself as among the world’s leading research centers for pediatric cancer. It still follows the founder’s philosophy of meeting the psychological, spiritual and family needs of patients. While this is also what Ram would love to see The Child Mind Institute develop into, he barely has time to be hands-on in attaining this goal due to his job at Goldman Sachs.
10. He has some things in common with his wife
From the list of the board of directors of the Child Mind Institute, one name you will come across is Preethi Krishna, who is Ram’s wife. Besides them serving on the board together, both attended the University of Rochester; while Ram was in the 1991 MBA class, Preethi graduated in 2001.