Meet Christine Lagarde, the lawyer, who became one of most influential woman in finance

European Central Bank President Christine Lagarde is making headlines yet again, this time warning about the economic consequences of the conflict in Iran. “We find ourselves yet again in a different world whose contours are not yet clear.

We are facing profound uncertainty about the path that the economy will take. None of us, none of us can resolve the uncertainty about how and when the Ukraine war will end and how the war in Iran will play out,” Lagarde commented in late March, about being cautious and proactive with inflation, as reported by Reuters. Crisis management has always been her forte. She has spent much of her professional life walking into rooms where things have gone wrong and being expected to fix them.As Lagarde works her magic, let’s take a look back at her illustrious life and career.

Christine Lagarde, a trailblazer in finance

Christine Lagarde, who currently serves as the President of the European Central Bank is one of the most influential women in global finance. She is a woman, who has not only held power positions but redefined what that looks like. A lawyer, politician, and central banker, Lagarde is a woman of many firsts. She is the first woman to serve as France’s finance minister (2007–11), a G7 nation.

She is also the first woman to head the International Monetary Fund.

She served as the managing director of the IMF during 2011–19. She is also the first female President of the European Central Bank, one of the world's most consequential financial institutions.

Born in a family of teachers

Lagarde was born on January 1, 1956 in Paris, France. Her birth name is Christine Madeleine Odette Lallouette. She was born into a family of teachers. So academics was the very foundation of her family.

Her father, Robert Lallouette, was a professor of English literature, and her mother, Nicole Lallouette, was a professor of French, Latin and ancient Greek. She grew up in Le Havre, a port city in northern France, alongside her three younger brothers.

As a child, Lagarde was keen on swimming. In fact, swimming was more than a passion for her. She is an accomplished synchronized swimmer who earned a bronze medal in the French National Championships.

She has her own share of struggles, as her dad passed away young. She worked part-time jobs to help her mother raise her siblings. Lagarde has married twice: Wilfried Lagarde (1982-1992, divorced); Eachran Gilmour (divorced). She has two sons with Wilfried Lagarde: Pierre-Henri and Thomas.

Education

Lagarde completed her education in the United States and France. She graduated from the prestigious Holton-Arms girls’ college-preparatory school in Bethesda, Maryland, in 1974.

She later joined the Law School of the University of Paris X-Nanterre. She lectured at the school law school after graduation, and later specialized in labour law, earning a postgraduate diploma (DESS). Lagarde also acquired a master’s degree in English.“The year before, my father had passed away. At the time, I had finished the lycee in France with honours and I was chosen to spend a year in the United States on a scholarship.

I wanted to be independent, but first I was alone and would soon be lonely,” Lagarde wrote on LinkedIn, in an excerpt from a column published in WirtschaftsWoche.She revealed how she benefited from a liberal education in a co-ed environment. According to her, the educational background in English, Latin and Ancient Greek was ‘quite unusual’. Speaking about her struggles while in Washington, DC, she added, “I came to a family with three children, none of whom spoke any French.

They did not really share my interest in the state of the world, politics and my love of synchronised swimming.

I enrolled in an all-girls school, where I was given endless assignments in American history and literature, science, and ballet. My mother, my three brothers, and my friends were far away. There were no mobile phones, no emails, and no option to come back home before the end of the school year. Thankfully, there was an optional course in political science.” She also spoke about how she struggled during the initial three months, wanting to leave and also having the urge to master the challenge. French literature, and ‘too much’ chocolate ice cream and peanut butter kept her company. Soon, she managed to move past all the frustration, and focus on what was important. “ I came to realise that my American host family was in fact “my” American family and that they loved me in their own way.

I began to appreciate that the all-girls school I attended offered an excellent education. I discovered a terrific synchronised swimming team in the local Jewish community,” she said. It took a year for her to adjust. She wasn’t ready to leave. But during these months she learned so much about life. “I had learned a lot about myself, about resilience, and more importantly, about respect and tolerance – values that have guided me throughout my entire career.

The experience I had back then was the best preparation I could have had for the tasks that lay ahead of me. As per the motto of the all-girls school: Inveniam viam aut faciam - I will find a way or make one,” she said.

And she did come out with flying colours.

Professional timeline

2011-2019Managing Director of the International Monetary Fund, Washington, D.C.2007-2011

2007Minister of Agriculture and Fisheries of France2005-2007Minister of Trade of France1999-2005Global Chairman of international law firm Baker McKenzie, Chicago, United States1995-1999Member of the Global Executive Committee and Managing Partner, Baker McKenzie Paris office1981-1999Attorney at law practising predominantly in commercial, mergers and acquisitions, antitrust, labour law and arbitration for international corporate clients1980-1982Lecturer in contract law at University Paris X Law SchoolToday, Christine Lagarde is someone who has both the charm and courage to take risks. She is more than a trailblazer. She is a woman who refused to be boxed by society’s expectations or obstacles. The global banking boss is a true inspiration for all women who believe that the sky is not the limit.