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Debbra Schoneman believes in the power of the "learning zone" — the space just beyond an individual's comfort zone where growth and resilience are forged.
It's a mindset she adopted later in her career and serves her well in running Piper Sandler as president over the past seven years, especially during a year when market conditions have demanded both adaptability and discipline.
"If we fail to regularly challenge ourselves, our comfort zone will continue to contract," she said.
In the second quarter of this year, the Minneapolis-based investment bank posted net income of $42.2 million, compared with $64.9 million in the previous quarter. The first quarter included $25.4 million of income tax benefits related to the vesting of restricted stock awards. The second quarter's net income also represents a 21% increase compared to the second quarter of 2024.
In 2024, Piper Sandler posted
"Taking the long-term view means investing for growth despite uncertainty," Schoneman said. "At the same time, we focus on controlling what we can today, whether that's expenses or operational efficiency."
That approach, she noted, helped the second quarter's results benefit from the firm's intentional diversification across products and sectors.
"Despite the recent market volatility due in large part to tariff uncertainty, we delivered strong results in the second quarter driven by year-over-year revenue growth across many of our business lines," she said. "This highlights our broad product and sector diversification which has been a significant focus for the firm. Such diversification mitigates earnings volatility and provides us with a wider range of solutions for our clients."
Schoneman says she seeks insights from office visits with colleagues across the country to hear directly from the teams working with clients every day.
"Those conversations sharpen our strategy and ensure our leadership decisions are grounded," she said.
Schoneman, who has been at Piper Sandler for more than 30 years, continues to see opportunities for innovation and reinvention. She views AI as a tool to streamline operations, cut costs, and free up capacity, but not necessarily as a replacement for the trust-based relationships at the heart of the firm's business.
"We're exploring use cases, but our high-touch, client-first approach will always be our differentiator," she said.
For young women in banking, Schoneman's advice mirrors her own growth philosophy: advocate for yourself by delivering results and seeking out opportunities that stretch your skills.
"Demonstrating your capabilities through your work is the best form of self-advocacy," she said. "I learned firsthand that trying to be someone I am not restricts my potential and prevents me from performing at the highest level. Embracing authenticity often requires courage, especially when overcoming negative internal narratives, but it becomes easier with practice, much like a flywheel gaining momentum."
