Lynn Davis, the new chief of private banking at Shawmut National Corp., didn't start out her career surrounded by affluent clients and tony trappings.
In fact, she spent the first six months after graduating from college in front of a chalkboard, teaching elementary school.
But after quickly figuring out that life as a teacher wasn't for her, Ms. Davis decided to try her hand at law.
She got certified as a paralegal specializing in trusts and estates and landed a job in Chase Manhattan Bank's trust department.
She worked there 18 years, rising to senior vice president in charge of consumer asset, liability, and investment products, before her recent move to Boston to work for Shawmut's investment services unit.
In her new post, she oversees three divisions: private banking, personal investment services, and discount brokerage.
Her predecessor, George E. Russell Jr., was promoted to president of Shawmut's New Hampshire commercial bank.
Ms. Davis now reports to Michael J. Rothmeier, executive vice president in charge of Shawmut Investment Services.
Ms. Davis' "strategic planning skills, marketing perspective, and breadth of experience in building and sustaining client relationships will be key as Shawmut expands its private banking and personal investment services business," Mr. Rothmeier said.
Ms. Davis said that she, too, is confident. "I know how to motivate a large group of people to go out and win," she said.
And she proved it at Chase. By 1986, she was overseeing Chase's private bank, which had 100 employees in eight locations.
She rose through the ranks of the money-center bank and took her final post at Chase earlier this year.
Since Shawmut, with $31 billion of assets in the bank holding company, is less than one-third the size of Chase, Ms. Davis believes she can make a bigger splash at the smaller company.
"I envision an opportunity to rapidly move this division," she said.
Ms. Davis isn't shy about her goals: She wants to turn Shawmut into a dominant private bank in New England. No one has emerged as market leader in the region, she said.
"There's a clear opportunity for Shawmut to capitalize on that," she added.
Part of her plan entails steering the investment services division away from being a productdriven business to being a client-driven business; she said.
But capturing market share in New England will take more than New York know-how.
"To win in this market, we will need flawless execution," she said.
DOSSIER / By Kalen Holliday
Lynn Davis
Shawmut Investment Services
Lynn Davis, an 18-year veteran of Chase Manhattan Bank, has been named executive vice President and manager of the private banking unit at the Boston-based subsidiary of Shawmut National Corp. Ms. Davis will also oversee personal investment services and discount brokerage.
Career track:
1976-1994:
Chase Manhattan Bank, New York
Chase Regional Bank:
* Senior vice President for consumer Product management and sales
* Senior vice President and consumer credit executive Personal Banking
* Business executive Metropolitan Community Bank
* Division executive
Vital statistics:
Education:
BA elementary education and MA in business administration, Boston University
Family:
Married with 9-year-old daughter
Home: Wellesley, Mass.
Hobbies:
Playing tennis
Dream vacation:
An extended stay in Italy
