US Banker articles from October 2004

US Banker archives from October 2004

Influence Matters, and It Is Making a Difference.
October 1, 2004... When U.S. Banker began working on "The 25 Most Powerful Women in Banking" last October-the ranking's debut year-early reaction from candidates was met with a good dose of optimism, yet some privately worried about its intent, how the market...

Payments: With Its Long Green Arm, Amex Reclaims Processing: The green giant aims to cut out the middlemen.
October 1, 2004... Global credit card giant American Express is making moves to get into another business-one it has long farmed out to processors. In between the point a cardholder buying a watch at Lord & Taylor swipes his green plastic through a reader,...

Scene and Heard.(United Community Banks, Inc.)(Brief Article)
October 1, 2004... "It's an effort that says 'thank you' a little differently than a statement stuffed in an envelope." Jimmy Tallent, president and CEO of UCBI, on the bank's annual tomato-plant giveaway. "Voice is like a canary in the coal mine. It's a...

Compensation: Supplemental Retirement Benefits Gain Popularity: Stock option changes prompt new look at plans.
October 1, 2004... While CEOs at the 50 largest U.S. banks earned an average of $6.1 million in fiscal 2003, a 12 percent increase over 2002, banks are being advised to reevaluate executive pay policies as new stock-options rules take effect and supplemental...

Hits and Has-Beens.(Brief Article)
October 1, 2004... MasterCard has proven just how serious it is about growing its professional services division, MasterCard Advisors, by hiring former Capgemini bank-practice managing director Keith Stock as president. Stock, a well-known and respected industry...

Fresh Ink.(Brief Article)
October 1, 2004... 1. Centennial Bank Holdings strengthened its base in Colorado, agreeing to pay $365 million in cash for Guaranty Corp. Guaranty, a $1.4 billion-asset institution, operates 18 branches in and near Denver. The deal is expected to close next...

Statute of Limitations: In Struggle Over Spilt Milk, Parmalat Spurs More Suits: Firm's bankruptcy entangles BofA, Citigroup, USB.(Bank of America)
October 1, 2004... The sustained barrage of lawsuits thundering from Rome in recent weeks from the Parmalat bankruptcy is putting the world's biggest financial players on the defensive and sources say it should be the final notice-if one is still needed-that no...

Pipeline.(Surveys)
October 1, 2004... Consumers Don't Walk the Talk Some 66 percent of consumers say discounts are why they participate in loyalty programs, according to a recent poll by Maritz Loyalty Marketing. In collecting rewards, most consumers choose gift certificates,...

MBNA, Capital One are Beaten, As Egg Goes Back in Its Box.
October 1, 2004... The brutal competition between MBNA and Capital One to put new plastic in stuffed-full consumer wallets-or, failing that, to buy customers outright-showed some interesting wrinkles in recent weeks. Capital One in particular must be aching. ...

Noted and Noteworthy.(Brief Article)
October 1, 2004... Talk about the road not taken. For longtime banker Steve Southard of Culpeper, VA, population 9,664, it was the other guy who got big and rich. Now the county's treasurer, Southard recently had reason to recall an old business partner of his,...

With No Political Will, There's No Way: Few bills will pass before the election. Of course, lawmakers are busy electioneering-or getting reelected-but perhaps there's a more cynical reason why.
October 1, 2004... In Washington, when the going gets tough, the tough...do nothing. With the Republicans' August infomercial giving President Bush more than a tiny bounce over Democratic presidential challenger John Kerry, legislators and lobbyists have been...

Telecommunications: VoIP: Kick That Tin Can: Does saving more than $5 million a year sound like a good idea? Just ask SouthTrust how it's done.(Voice Over Internet Protocol)
October 1, 2004... Bank CIOs convinced that "huge savings" and "improved operational efficiencies" were terms that wouldn't be found in the same sentence have learned to rethink their IT strategy, thanks to the advent of voice-over Internet protocol. Banks are...

What Time's It, Grampa? 529 College Gift Time.: With average annual private tuition costs at $40,000, students and their relatives can be paralyzed by sticker shock. But banks can counter that fear with smart ideas for savers.
October 1, 2004... The summer may be just behind us, but the holiday season is fast approaching and bank executives say this is one of the most critical times to educate customers about saving for college, particularly the tax benefits of 529 college-savings...

AD Beat: With Service-Career Focus, TIAA-CREF Hones Message: Fierce competition drove the investment firm out of the shadows and into the mass media with a campaign that honors typical clients. Is the future as bright there?(Teachers Insurance and Annuity Association College Retirement Equities Fund)
October 1, 2004... Feeling the squeeze of competition from big banks like never before, Teachers Insurance and Annuity Association-College Retirement Equities Fund, or TIAA-CREF, has launched its first national campaign, with expensive TV and print ads that...

Icons of Influence.
October 1, 2004... Ask any woman who has made it to the top where power ends and influence begins and she'll likely tell you the former is meaningless without the latter. Why? Because influence is a door opener, and open doors mean the ability to effect...

Most Influential.(Brief Article)
October 1, 2004... 1) Marjorie Magner Chairman & CEO, Global consumer group Citigroup 2) Peyton Patterson Chairman, CEO and president NewAlliance Bancshares 3) Amy Brinkley Chief risk officer Bank of...

Biggest Ranking Jumps.(Brief Article)
October 1, 2004... 1) Cece Sutton (up 26 spots*) Evp & Head of retail banking Wachovia Corp. 2) Jill Denham (up 19 spots*) Vice chair, retail markets CIBC 3) Carol Nelson (up 18 spots*) President & CEO ...

Youngest Stars.(Brief Article)
October 1, 2004... 1) Susan Pittman Horton (age: 43) Chairman, president & CEO Wheatland Bank 2) Elizabeth "Lee Lee" James (age: 43) Vice chair & CIO Synovus Financial Corp. 3) Jill Denham (age: 43) Vice...

Fast Trackers.(Brief Article)
October 1, 2004... 1) Connie Lau (years: 5) President & CEO American Savings Bank 2) Susan Pittman Horton (years: 5) Chairman, president & CEO Wheatland Bank 3) Avid Modjtabai (years: 12) Evp & Head of...

Longest Stints in Banking.(Brief Article)
October 1, 2004... 1) Colleen Kvetko (years: 34) President, CEO & chairman of the board Fifth Third Bank, Florida 2) Marjorie Magner (years: 31) Chairman & CEO, global consumer group Citigroup 3) Doreen Woo Ho ...

25 MPWIB At a Glance - 2004.(Brief Article)(Illustration)
October 1, 2004... 1 Marjorie Magner Citigroup p. 38 2 Peyton Patterson NewAlliance Bancshares p. 39 3 Amy Brinkley Bank of america p. 40 4 Cece Sutton Wachovia ...

25 WtoW At a Glance - 2004.(Brief Article)(Illustration)
October 1, 2004... 1 Marion Sandler Golden West Financial p. 66 2 Carrie Tolstedt Wells Fargo p. 66 3 Heidi Miller JPMorgan Chase p. 66 4 Sandy Derickson Household...

A steady hand steers a business more profitable than Wal-Mart or Coke.(Marjorie Magner)
October 1, 2004... 1. Marjorie Magner Chairman & CEO, Global Consumer Group Citigroup, New York NY Years in banking: 31 Rank last year: #2 MPWIB Fourteen months ago, Marjorie Magner ascended to one of the most-powerful and...

When merger drew protests, threats, she never blinked.(Peyton Patterson)(NewAlliance Bancshares)
October 1, 2004... 2. Peyton Patterson Chairman, CEO & President NewAlliance Bancshares, New Haven CT Years in banking: 21 Rank last year: #14 MPWIB No other bank leader has fostered more change nor weathered more controversy-during...

Taking personal risks over the years helps her mitigate BofA's.(Amy Brinkley)(Bank of America)
October 1, 2004... 3. Amy Brinkley Chief Risk Officer Bank of America, Charlotte NC Years in banking: 26 Rank last year: #4 MPWIB Amy Brinkley once gave a man known for keeping a grenade on his desk advice on whether to keep the name...

Release the hounds! This equestrian-minded banker can handle her steed and track down profitable customers.(Cece Sutton)
October 1, 2004... 4. Cece Sutton Evp, Head of Retail BankING Wachovia, Charlotte NC Years in banking: 26 Rank last year: #6 WtoW In equestrian dressage competition, the rider and the horse are one. The animal gallops and canters...

Hop in for a spin. She sees an open road for Fifth Third.(Colleen Kvetko)(Fifth Third Bank, Florida)
October 1, 2004... 5. Colleen Kvetko President, CEO & Chairman of the Board Fifth Third Bank, Florida, Naples FL Years in banking: 34 Rank last year: #10 MPWIB It's mid-September and hurricane Ivan is looming in the Atlantic, 100...

Though she's no mere opportunist, this Northwest power player isn't one to skip an opportunity when it comes knocking.(Patricia Moss)
October 1, 2004... 6. Patricia Moss president & Ceo Cascade Bancorp, Bend OR Years in banking: 29 Rank last year: #21 MPWIB Cascade Bancorp president and CEO Patricia Moss isn't one to miss an opportunity, even if it involves hiring 16...

Just when Woo Ho takes her business to fresh heights, she finds another peak.(Doreen Woo Ho)
October 1, 2004... 7. Doreen Woo Ho president, Consumer Credit Group Wells Fargo, San Francisco CA Years in banking: 30 Rank last year: #19 MPWIB Doreen Woo Ho is a testament to that age-old adage that if you want something done right, just...

Blazing a trail in the Canadian retail market, and keeping them laughing.(Jill Denham)
October 1, 2004... 8. Jill Denham Vice Chair, retail Markets CIBC, Toronto Canada Years in banking: 21 Rank last year: #3 WtoW Jill Denham, CIBC's vice chair of retail markets, exposed her core by giving copies of the best selling...

Ignoring the hype, Internet visionary concentrated on integrating Web banking into retail.(Avid Modjtabai)
October 1, 2004... 9. Avid Modjtabai EvP & Head of Internet services Group Wells Fargo, San Francisco CA Years in banking: 12 Rank last year: N/A Ask the right questions at the right time and demand sensible answers. Sounds simple...

Leading a great workforce by creating a great place to work.(Elizabeth James)
October 1, 2004... 10. Elizabeth James Vice Chairman & CIO Synovus Financial Corp. Columbus GA Years in Banking: 18 Rank last year: #12 MPWIB In 1986, elizabeth "lee Lee" James LEFT her job in real estate and joined Synovus largely...

Transforming a sleepy thrift in the 50th state into a fast-growing player.(Connie Lau )
October 1, 2004... 11. Connie Lau President & CEO American Savings Bank Honolulu HI Years in banking: 5 Rank last year: N/A Although American Savings Bank is hemmed in by the Pacific Ocean on all sides, and competes against two larger...

Work Ethic, Love of Horses Propel Banker to the Top.(Susan Pittman Horton)
October 1, 2004... 12. Susan Pittman Horton Chairman, President & CEO Wheatland Bank, Spokane WA Years in banking: 5 Rank last year: #13 MPWIB A love of horses drove Susan Pittman Horton into financial services. "She used to say when...

Ignoring Your Instincts May Prove Smart.(Davis, Jean)
October 1, 2004... 13. Jean Davis Sr EVP & Division Head for IT, eCommerce & Operations Wachovia Corp., Charlotte NC Years in Banking: 19 Rank last year: #18 WtoW Being called a good listener, even being called a very good listener,...

All eyes are on this marketing guru, as BofA introduces [bar]tself to Fleet clients.(Cathy Bessant)(Bank of America)
October 1, 2004... 14. Cathy Bessant Chief Marketing Officer Bank of America, Charlotte NC Years in banking: 23 Rank last year: #18 MPWIB When the marketing chief at coast- to-coast giant Bank of America thinks about women on the rise...

With the aid of a banking pedigree, she helped build the little bank that could.(Strata Bank)(Pamela Montpelier)
October 1, 2004... 15. Pamela Montpelier President & CEO Strata Bank, Medway MA Years in banking: 23 Rank last year: N/A Pamela Montpelier comes from a long line of New England bankers. At 40, her father, Peter, became the youngest...

Navigating in a perfect storm, a CFO trusts in truth telling.(Chief Financial Officer)(Dina Dublon)
October 1, 2004... 16. Dina Dublon Evp & CFO JPMorgan Chase & Co., New York NY Years in banking: 23 Rank last year: #2 WtoW It's been a stormy few years for JPMorgan Chase. The New York company got heavy into corporate loans and...

An attention to detail helps an overachiever do even more.(Mary Lynn Lenz)
October 1, 2004... 17. Mary Lynn Lenz President & CEO Slade's Ferry Bank, Somerset MA Years in banking: 20 Rank last year: N/A At each stop in her banking career, Mary Lynn D. Lenz says, "almost every one of them was in the weeds." ...

She sets the tone at home, using lessons learned abroad.(Maura Markus)
October 1, 2004... 18. Maura Markus President, Citibank N.A. Retail Distribution Group Citigroup, Long Island City NY Years in Banking: 17 Rank last year: #5 WtoW Working for what is arguably the most global of financial institutions,...

A desire for new challenges leads to a surprising change of hats.
October 1, 2004... 19. Barbara Desoer Chief Technology, Service & Fulfillment Exec. Bank of America, Charlotte NC Years in banking: 27 Rank last year: #11 MPWIB The questions began as soon as Barbara Desoer's shift from head of Bank of...

Perfecting a ballancing act helps keep this high achiever on an even keel.(Kathleen Beechem)
October 1, 2004... 20. Kathleen Beechem Evp U.S. Bank Cincinnati OH Years in banking: 20 Rank last year: N/A When asked whom she most admires outside the banking industry, Kathy Beechem doesn't recite a laundry list of noble...

This Puget Sound dynamo's work ethic dovetails with compassion for a killer combo.
October 1, 2004... 21. Carol Nelson President & CEO Cascade Financial Corp., Everett WA Years in banking: 26 Rank last year: #15 WtoW Carol K. Nelson believes she's found the key to success in banking: inclusiveness. "The ability to...

A calming influence takes the bank world by storm.
October 1, 2004... 22. Melanie Dressel President & CEO Columbia Banking System, Tacoma WA Years in banking: 30 Rank last year: N/A For someone who was on her way to law school and took her first bank job 30 years ago to get weekends...

A success who mentors others to succeed, too.(LeeAnne Linderman)
October 1, 2004... 23. LeeAnne Linderman EVP Zions First National Bank, Salt Lake City UT Years in banking: 14 Rank last year: N/A Many executives talk about the importance of clear communication. But how many take the extra step...

With a 'sensitive toughness' she's rewriting the strategic role of HR.(Rose Patten)
October 1, 2004... 24. Rose Patten Senior evp BMO Financial Group, Toronto, Ontario Years in banking: 28 Rank last year: N/A The very day that Rose Patten was promoted to vp of strategy and human resources at Continental Bank of Canada...

She adds a dash of fun to the bank experience.(Susan Smith)
October 1, 2004... 25. Susan Smith EVP & CFO Metropolitan National Bank, Little Rock AR Years in banking: 16 Rank last year: N/A They sometimes go a little Nuts! at Metropolitan National Bank (MNB) in Little Rock, AR. "Fun hop" ball...

Faces of Change: These women aren't simply movers and shakers-they're individual forces of talent, skill and ambition. As their brilliant ideas and stellar performances rock the industry, it's clear: They're only going up.
October 1, 2004... 1. Marion Sandler Co-CEO Golden West Financial, Oakland CA Years in banking: 41 // Rank last year: #3 MPWIB When you head what is routinely touted as one of the nation's best-managed banks, you get used to consistently beating...

Mr. Tomato Head And Other Tales of Success: Georgia-based UCBI believes in calling customers by their first names, holding bankers' talent shows for charity and handing out free tomato plants every spring. Is this any way to run a bank?
October 1, 2004... Though United Community Bank is the third-largest bank based in Georgia, it harbors little-bank ideas. Once a $40 million Blairsville, GA-based entity named Union County Bank, UCBI today has grown into a 21-bank holding company with offices in...

Hoping to Cut Appraisal Fees, Giants Sharpen AVMs: Countrywide and Wamu are pressing for competitive advantage with automated valuation models. It makes sense, since a typical AVM costs $15, while a standard property appraisal is a hefty $300.(automated valuation models)
October 1, 2004... In the face of climbing interest rates and lower volumes of mortgages, refinancings, and home-equity loans, lenders are keen to find ways to keep profits up. Reducing their own costs is a good place to look, and that's what's driving lenders to...

BHC Fee Income Rises 10.2%, As Bank-Fund Assets Slip: Proprietary fund returns might be approaching those of open-end funds, but fund flows are exiting bank-based options, due partly to fund scandals galore. But therein lies the opportunity.(Bank holding companies)
October 1, 2004... Though the last year has brought a bevy of mutual fund scandals, as well as disappointing returns, investors continued to flood the fund marketplace, pushing it to the $7.9 trillion-asset mark. Banks, however, are seeing investors exit...

The Euro: Terrible Twos or Tenacious Triumph?: Sure the euro is stronger than the dollar now, and that's probably a wash for most U.S. banks. But if one looks at the euro's role as standard-bearer of a seamless single market, it might be worth it.
October 1, 2004... It's coming up on the euro's second birthday, and given its year-long pummeling of the dollar, it has to be said the West's junior coin is looking surprisingly muscular. Currency experts and financial players are weighing the prospect of 10 new...

U.S. Banker Advertising Contacts.(Brief Article)(Directory)
October 1, 2004... GROUP PUBLISHER Jay Berfas Thomson Media One State Street Plaza New York, NY 10004 Tel: 212.803.8690 Fax: 646.264.6800 Outside the U.S. Please contact the Publisher U.S. BANKER ACCOUNT REPRESENTATIVES...

Preparing for Check 21: There's More Work to Do.(Check Clearing for the 21st Century Act)
October 1, 2004... With so much written and discussed about Check 21, it's often difficult to separate fact from fiction. Managers of most community banks understand that the federal legislation, formally known as the Check Clearing for the 21st Century Act, will...