May 2019 | americanbanker.com the rise of the THE purpose-driven CEO FUTURE OF LEADERSHIP introducing the most powerful women in banking: NEXT CV1_ABM_0519.indd 1 4/12/19 4:05 PM Offer your customers and staff the convenience of Coinstar® Customers have many great options for their loose coins: • Cash voucher • NO FEE eGift Cards Direct deposit • Charity donations now available • Direct deposit* Staff can focus on customers because Coinstar provides a full-service solution: • No coin handling • Exceptional uptime • Free techinical support To learn more, go to Coinstar.com/f inancial_institutions * Not available in all states © 2019 Coinstar Asset Holdings, LLC. All Rights Reserved. Coinstar and its associated logo are trademarks of Coinstar Asset Holdings, LLC. 0C2_ABM0519 2 4/10/2019 3:29:03 PM Contents May 2019 | VOL. 129 | NO. 5 THE FUTURE OF LEADERSHIP 12 The Purpose-Driven Chief Executive How a rapidly changing workforce, the rise of socially responsible investors and a more activist public have fundamentally changed the role of the bank CEO ALSO INSIDE Briefings 4 Lessons from an ‘Insulting’ Ad A diverse Boston neighborhood got offended by a TD Bank poster. Here’s what other banks can do to avoid similar backlash 5 20 Really ROSIE How Regions Optimal Solutions Intelligence Engine, aka ROSIE, is The Most Powerful Women in Banking: Next helping boost cross-sales for the Get ready to meet 15 women — ages 40 and under — whose Alabama bank accomplishments and influence set them apart. 6 28 Digital Disconnect As banks push customers to self-serve channels, they’re missing out on opportunities to build a relationship. Is it possible to create a human connection in a digital age? Reprint and reuse rights, call (877) 652-5295 Metrics and Measures 8 Kristen Bitterly, Citigroup 22 Lindsay Lawrence, 26 The Top 200 First Foundation Bank Rachel Bryant, Regions Bank 22 Publicly traded banks with under $2 Carrie Lichter, Fifth Third 27 billion of assets ranked by three-year Camille Burckhart, Popular 23 return on equity Erika Marquez, Sumitomo Mitsui 27 Chantel Chase, Zions Bancorp. 23 Abigail Mrozinski, Wilmington 28 Lian Duan, China Merchants 24 Trust BackPorch April Frazer, Wells Fargo 24 Jennifer Upshaw, Synovus 28 32 Emily Girsch, Lincoln Savings 25 Uma Wilson, UMB Bank 29 Quotes from Mastercard’s Ajay Banga, Jacqueline Howard, Ally 26 Wells Fargo’s Tim Sloan, BB&T’s Kelly Rana Yared, Goldman Sachs 29 King and more americanbanker.com May 2019 American Banker 1 001_ABM_0519 1 4/12/19 6:38 PM Volume 129, No. 5 american banker.com Editor’sWhat’s View going on @ Executive Editor Bonnie McGeer Art Director Robin Henriquez Contributors Laura Alix, Hilary Burns, Penny Crosman, americanbanker.com Suleman Din, Victoria Finkle, Rob Garver, Alan Kline, Hannah Lang, Jackie Stewart, Kevin Wack Established 1836 One State Street Plaza, 27th floor, New York, NY 10004 Phone 212-803-8200 www.americanbanker.com Emails [email protected] Editor in Chief Rob Blackwell 571.403.3834 Managing Editor Dean Anason 770.621.9935 Executive Editor Bonnie McGeer 212.803.8430 Senior Editor Alan Kline 571.403.3846 Editor at Large Penny Crosman 212.803.8673 Washington Bureau Chief Joe Adler 571.403.3832 Technology Editor Suleman Din 212.803.8738 BankThink Editor, Deputy Washington Bureau Chief Victoria Finkle 646.477.7549 Community Banking Editor Paul Davis 336.852.9496 News Editor Andy Peters 404.500.5770 Contributing Editor Daniel Wolfe 212.803.8397 Digital Managing Editor Christopher Wood 212.803.8437 Copy Editor Neil Cassidy 212.803.8440 Reporters/Producers Laura Alix 860.836.5431 Kate Berry 562.434.5432 Hilary Burns 617.276.6916 Nathan DiCamillo 212.803.8246 Neil Haggerty 571.403.3837 John Heltman 571.403.3847 Will Hernandez 212.803.8731 Hannah Lang 571.403.3855 John Reosti 571.403.3864 Gary Siegel 212.803.1560 Jackie Stewart 571.403.3852 Kevin Wack 626.486.2341 Rachel Witkowski 571.403.3857 Group Editorial Director, Banking/Capital Markets Richard Melville 212.803.8679 Executive Director, Content Operations and Creative Services MOST READ MOST SHARED Michael Chu 212.803.8313 ADVERTISING Change agent VP Sales, Banking & Payments Ira Robbins has shaken things up since becoming CEO of Dennis Strong 212.803.8372 what is now Valley Bank Northeast • Added employee perks (volunteer time, tech bar) Brad Bava 212.803.8829 Midwest/Southwest • Adopted shorter bank name Shelly Schmeling 312.932.9392 • Cut 60 corporate jobs West Sara Culley 831.438.8408 • Formed fintech partnerships Midatlantic/Southeast • Increased annual tech spending by $20M David Cleworth 843.640.3713 Marketing Manager Deborah Vanderlinder 212.803.8323 Putting M&A on the Back Burner CECL Spells Trouble Group Director Custom Marketing Solutions Virginia Wiese 704.987.3224 Valley Bank in Wayne, N.J., did many The new accounting standard won’t CIRCULATION/CUSTOMER SERVICE Subscriptions [email protected] acquisitions under its previous chief make community institutions safer, Customer Service/Renewals executive. Its new CEO, Ira Robbins, though implementation is proving [email protected] 212.803.8500 Licensing and Reuse of Content: Contact our official has taken a markedly different burdensome and could restrict access partner, Wrights Media, about available usages, license and reprint fees, and award seal artwork at approach, prioritizing technology to credit, Rep. Blaine Luetkemeyer [email protected] or (877) 652-5295 for more information. Please note that Wright’s Media is the while adding employee benefits such argued in a BankThink article. Its only authorized company that we’ve partnered with for SourceMedia materials. as volunteer work days and adjusting “potentially drastic consequences,” he compensation to factor in Valley’s wrote, “are looming over communities overall performance. across the country.” CHIEF EXECUTIVE OFFICER....................................Gemma Postlethwaite American Banker (ISSN 2162-3198) Vol. 129 No. 5, is published monthly by SourceMedia, One State Street Plaza, 27th Floor New York, CHIEF FINANCIAL OFFICER ...........................................................Sean Kron NY 10004. Subscription price: $149 per year in the U.S.; $229 per year for all other countries. Periodical postage paid at New York, NY EVP & CHIEF CONTENT OFFICER .................................David Longobardi and additional U.S. mailing offices. POSTMASTER: send all address changes to American Banker, One State Street Plaza, New York, NY CHIEF STRATEGY OFFICER ........................................................Jeff Mancini 10004. For subscriptions, renewals, address changes and delivery service issues contact our Customer Service department at (212) 803-8500 CHIEF DATA OFFICER ............................................................ Christian Ward or email: [email protected]. Send editorial inquires and manuscripts to American Banker, One State Street Plaza, 27th Floor, New SVP, CONFERENCES & EVENTS ..........................................John DelMauro York, NY 10004. This publication is designed to provide accurate and authoritative information regarding the subject matter covered. It is sold with the understanding that the publisher is not engaged in rendering financial, legal, accounting, tax or other professional service. VP, PEOPLE & CULTURE ...................................................................Lee Gavin American Banker is a registered trademark used herein under license. © 2019 SourceMedia, Incorporated and American Banker. All rights reserved. www.americanbanker.com. 2 American Banker May 2019 002_ABM0519 2 4/5/2019 5:38:44 PM “The key to this business is advice. The way we combine technology and our advisors to deliver it is what sets us apart.” — RHOMES AUR CEO, FTB Advisors, Inc. EVP, First Tennessee Bank RISE above the rest Rhomes Aur and FTB Advisors saw an opportunity to establish a new level of advice delivery. By combining technology with the bank’s hometown culture, they proactively engage their clients in all types of markets to develop solutions that evolve with their unique needs. Watch Rhomes’s story, and learn how Fidelity is the change agent helping banks and trust companies build a future-ready business. Visit go.fidelity.com/transformnow or call 877-262-5950. Transform for the future with Fidelity. FTB Advisors is a client of Fidelity Clearing & Custody Solutions® and is an independent company, unaffiliated with Fidelity Investments. Its business needs and results may not reflect the experience of other Fidelity clients. Fidelity Clearing & Custody Solutions provides clearing, custody, or other brokerage services through National Financial Services LLC or Fidelity Brokerage Services LLC, Members NYSE, SIPC. © 2018 FMR LLC. All rights reserved. 828391.1.0 34481_26_AD_RHOMES_Amer_Banker_FP.indd003_ABM0519 3 1 4/10/20195/16/18 3:29:04 7:59 AMPM Briefings BRANDING | ARTIFICIAL INTELLIGENCE | DIGITAL BANKING for a few reasons. While TD has its U.S. headquarters in New Jersey, the bank has long had a presence in the greater Boston area (though notably, not in Dorchester). TD also prides itself on diversity and inclusion, both in its ranks and in its corporate philanthropy. Plus the ad echoed a 2017 campaign by Samsung that got flak for similar reasons. In that case, a Boston subway hub displayed the company’s large banner ads reading: “We’ll keep your work stuff safe if you go to Alewife and your phone goes to Mattapan.” Though Alewife and Mattapan are at opposite ends of the same subway line, many read a more
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