Top 3 Banking Teams
#2 Zions First National Bank
US Banker | October 2008
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FeedbackQuietly amassing a sound performance, women executives at Zions recognize that knitting together of bunch of untold successes has its advantages-for them and for Zions chief Scott Anderson. Deposit growth among all women-led divisions and groups has grown from $6.2 billion to $6.67 billion, accounting for a 7.71 percent increase in year-over-year June financials. Similarly, loan balance averages among women-led units are $4.2 billion, up 9.74 percent from the prior year's first half.
While the revenue of some women executives' business units is flat or off slightly-LeeAnne Linderman's retail banking division is up a modest one percent, while revenue in Diana Kirk's private services division is off by 0.16 percent-fee income and other important metrics have increased. In retail banking, for example, non-interest income is up 11 percent in the 12 months ending in June, and client volume in the private services division has grown 11.8 percent during the same period.
But Zions is getting a real jumpstart from its BankCard group, with year-to-date pre-tax credit card revenue of $18 million, up 88 percent, or $8.45 million over last year, and operating income of $10.5 million, up 134 percent or $6 million versus the same period last year. On the debit card side, pre-tax revenue is $11.4 million, up 13 percent year to date, while operating income is $7.8 million, up 9.6 percent or $565,000 from a year earlier.
Its Women's Financial Group, meanwhile, continues to post impressive results, in spite of a changing of the guard. In April, Lori Chillingworth shifted her responsibilities from the WFG to Business Banking, yet her stellar performance record continues under the watchful eye of Cecilia Mitchell. Through June, revenue was up 8.22 percent, expenses were down 13.5 percent and net income was up 34 percent.
Throughout this, the women executives still found time to do what's obvious: execute on three "wildly important goals." Specifically, women leaders at Zions will achieve these cultural goals through an enterprise program that emphasizes keeping things on budget, never failing to remember who keeps the bank in business and, finally, gathering deposits.
Brent Christ, a research analyst with Fox-Pitt Kelton, says that he's been impressed with the women executives at Zions whom he has met. What do he and other analysts give the bank and its leadership team high marks for? Its conservative approach to business-something that's leading to results and not newspaper headlines.
Return to the 2008 25 Most Powerful Women in Banking
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