Turning Adversity into Opportunity: This is Angelo Mozilo’s story of overcoming adversity
This is the fourth part of an ezine article; this is the third of four segments.
In this Part III, Angelo Mozilo will share, in his own words, the difficult journey of his life, including its specific trials and challenges. H will share with the reader his own unique story of what habits and success secrets he developed to overcome adversity. Angelo is a “man of the people” with a unique combination of financial genius, unstoppable drive to succeed, and “street smarts” that enabled him, despite facing severe adversity, discrimination, or difficult challenges, to make Angelo Mozilo a respected and successful leader in business and community.
Angelo will candidly share how he succeeded in life and in the “White Anglo Ivy League” dominated world of finance and mortgage banking despite the odds stacked against him and being an Italian American with a degree from Fordham, not the “Ivy League schools”. such as Harvard, Yale, Princeton or the Wharton School of Business at the University of Pennsylvania. Angelo Mozilo fought his way out of an ethical neighborhood and literally out of the carnage of his father. When he founded and currently he serves as Chairman and CEO of one of the largest lending institutions with offices throughout the United States and even in Europe, with an office in the UK. He created the largest lending institution in the United States, Countrywide Home Loan and Countrywide Financial. Mozilo has overcome adversity to become an effective and successful leader.
This groundbreaking, proven research on overcoming adversity and how to “Turn Adversity Into Opportunity” has received wide endorsements and rave reviews from leading business, policy and academic leaders and prominent academics who participated in the study or reviewed the research. recommendations.
The nine initial successful leaders who overcame adversity or tragedy who were interviewed included: Dr. Tony Bonanzino, US Senator Orrin Hatch, Monzer Hourani, US Senator Daniel Inouye, Dr. John Malone, Larry Pino, Maj. Gen. US Army Sid Shachnow, Dr. Blenda Wilson and Zig Ziglar.
This story was The data for these nine research participants was materially augmented by seven more interviews with successful people who overcame adversity, abuse, or the loss of a parent in their youth, including: Jack Canfield, William Draper III, Mark Victor Hansen, J. Terrence Lanni, Angelo Mozilo, Dr. Nido Qubein, and Dr. John Sperling.
In addition, five internationally known and respected leadership scholars offered their reviews of leadership research findings, including: Dr. Ken Blanchard, Jim Kouzes, Dr. John Kotter, Dr. Paul Stoltz, and Dr. Meg Wheatley .
PART III of IV: This is Angelo Mozilo’s Story of Overcoming Severe Adversity
Part III Angelo commented on the discrimination he experienced because he was a second generation Italian-American. He said: “At least in my generation, when you are Italian in the financial services company, you are terribly underestimated. A natural reaction for some in the financial community was to infer or suggest that perhaps you were associated with the mafia.” Mozilo added “that even today [Countrywide] they are underrated.
Angelo Mozilo shared his candid comment on the banking establishment: “Major banks like Chase, Wells Fargo and others have continued to underestimate our achievements and fail to recognize Countrywide’s future potential.” He continued on this topic: “Because the financial services business has always been obsessed with an ‘Ivy League’ education from Harvard, Princeton, Yale and Wharton. It might have been easier if I had that kind of education, but that it was impossible”. because I needed to live at home.” Angelo further commented that “Countrywide’s management came mostly from the state universities, so they never took us that seriously. Since I graduated from Fordham and only briefly attended NYU Business School, I was always looked down on and it was always a problem.”
As Angelo Mozilo looks back on his unique life, he says, “I would never have dreamed that I would end up where I am today with a company that spans the entire country. [and even includes significant operations in the United Kingdom]Angelo continued: “I learned from my partner [and mentor] don’t give up on something you really believe in. We had some terrible days, but then something happened that encouraged us to continue another day. You can’t give up when the going gets tough. You have to work hard, stay focused and lead by example. I also think it’s important to have fire in your belly.” He also expressed the “importance of your track record, reputation, and maintaining relationships.”
Mozilo shared with me: “I am very conscious of the example I set for my children and grandchildren. I have always tried to conduct myself correctly and preserve the integrity of my name and company. I care about my legacy and want my grandchildren to be proud of our name.” . Angelo regularly donates his time, talent, and money to higher education. He said: “One of the few regrets I have is that I didn’t finish my graduate degree at NYU Business School. I have all kinds of excuses, but the fact is that I didn’t finish. I’m convinced that would have drastically shortened the time it has taken me to build this company”.
Angelo summed up his deep feelings about the importance of education: “My mother’s gift to me was that I cared a lot about education. I dedicate time and resources to children and education because they are the future of our country. Education is essential to have choices in life.”
Angelo’s educational activities include serving as a member of the Board of Trustees of Fordham University in New York City, Gonzaga University in Spokane, Washington, St. Francis High School in La Cañada, California, and the Board of Visitors from the Graziadio School of Business at Pepperdine University. , in Malibu, California. Mozilo received a Bachelor of Science from Fordham University in 1960 and has an honorary Juris Doctorate from Pepperdine University.
