Meet MAKER Alison Nest: Advancing Opportunities for the Next Generation

About a decade ago, shortly after Alison Nest started on the Alternative Investments team, she found herself sitting in a conference room across the table from several older men representing top asset managers in the industry. It was a typical day working in Investment Solutions within Morgan Stanley Wealth Management, and, as usual, Ali had chosen to include several junior members of her team—all of whom happened to be young women—to hear the men pitch their product offerings.

The image of this juxtaposition, of older men “facing off” with younger women, was captured by the division head as he walked by the conference room. “That moment stands out so clearly to me,” Ali recalls. “My manager showed me the picture and told me he was proud of what he saw: me, a strong, guiding leader in the industry, with the next generation of women leaders in our organization collaborating and bringing new ideas to the table.”

For Ali, it was natural to have junior women by her side. While some might have intimated that it was inappropriate to have them at the table, Ali saw it as imperative. “I pride myself on bringing the next generation forward,” she says. “It is so important for them to have that opportunity and exposure to learn from others, to have their voices heard and to have a seat at the table, too.”

As a Managing Director and Head of Alternative Investments—a group that manages an industry-leading platform with over $200 billion in assets—Ali oversees a team of about 225 individuals, all with different backgrounds and skills. “They are the brightest, most talented people who make me better every day,” says Ali.

She is grateful for the opportunity this leadership role affords, especially given her start at the organization 20 years ago, when she sometimes found herself as the only woman in the room in management meetings. “I was at times hesitant to use my voice,” Ali explains. She says sponsors and mentors would pull her aside, reminding her that “my voice mattered, and people wanted to hear from me. I wouldn’t be here without the support of those who cared about my career and pushed me to take on more.”

In turn, she sees it as her responsibility to “pay it forward and help the next generation of leaders, whether navigating our organization or pushing them out of their comfort zones. I hope to inspire others, and particularly young women, to realize, ‘If she could do it, so can I.’”

These efforts are among the many reasons why Ali has been named a Morgan Stanley MAKER, Class of 2024, joining a community of advocates, innovators and groundbreakers for women’s advancement, all nominated by their peers.

LEADING WITH KINDNESS AND EMPATHY

Ali grew up in a close-knit family—in Rockland County, N.Y.—that emphasized strong values. Her dad worked hard as a tax director and “taught us the importance of education and being financially independent,” she says. “He came from humble beginnings and made sacrifices to ensure my siblings and I could attend any college we wanted.”

From her mom—an early inclusion teacher who now spends her time volunteering—Ali grasped the importance of “leading with kindness and empathy.” Her mother’s father, an Italian immigrant, is also a source of inspiration. Despite his struggles with English and being held back in school, he graduated at the top of his class from Providence College and ultimately became the Chief of Anesthesiology at St. Elizabeth’s Hospital in Boston.

In his footsteps, Ali was accepted as a pre-med student at Georgetown University. While she aced human anatomy and physiology, Ali ultimately decided to transfer to the business school, majoring in finance and accounting. “I’ve always been a bit of a numbers geek,” she admits. Upon graduating, she landed a job in the analyst program at Smith Barney (a firm that Morgan Stanley acquired in 2009) and has never looked back. “I’m proud to say I’ve been with this firm my entire career,” says Ali.

Following nearly 10 years in Finance as the CFO of numerous business units, Ali transferred to Investment Solutions. Over the subsequent decade, she broadened her scope, transitioning to increasingly complex responsibilities. This year, she was promoted to her current role as Head of Alternative Investments. 

MAKE CONNECTIONS, BUILD A NETWORK

Ali encourages those early in their careers to “focus positively on the now, because attitude is everything.” She emphasizes that this industry is “a human business,” based on relationships. “Take the time to get to know others,” she advises. “If you’ve got a strong network and can bring the right people together—with knowledge accumulated from diverse individuals and their experiences—you can solve any complex problem.”

Building that network includes being “intentional about the culture you create and making sure that it’s inclusive. Together we can always do more and be better.”

One of the most straightforward ways Ali helps others in the organization is by connecting them with one another. In 2023, Ali formed the Investment Solutions chapter of the firm’s Women in Wealth network, an employee-run group dedicated to supporting, advancing and celebrating women and allies of progress. As founder and executive sponsor, Ali wants to do her part to build “a sense of belonging” and encourage junior talent to recognize that Morgan Stanley acknowledges “the important work you’re doing, cares about your growth and has your best interests at heart.”