Professional Experience
Senior Vice President, Chief Administrative Officer 01/07 - Present
LaSalle Financial Services - Chicago, IL
Responsible for the daily management of brokerage services/product and the integration into Bank of America (BAC).
• Bank of America’s Business Support Executive responsible for leading LaSalle Financial Services Mass Affluent business (Brokerage, Banking & Trust) during transition to Bank of America
• Chief Administrative Officer, Brokerage Services: Leading 30 employee team in Brokerage Operations, Trading, Client Services Group and Trust & Investments. Product Management for Mutual Fund Wrap Program $400 million AUM.
Senior Vice President, Mass Affluent 07/06 - 01/07
LaSalle Bank - Chicago, IL
Project Leader: Responsible for implementation of new mass affluent segment for LaSalle Bank.
• Mass Affluent Segment Project Lead: Strategic development and implementation of LaSalle Preferred Services a new service model for mass affluent clients (banking, brokerage & trust).
• Successfully led cross-functional team of more than 30 employees.
Senior Vice President, Trust & Investments (Small Trust Unit) 07/05 - 01/06
LaSalle Bank - Chicago, IL
• Investment Management and Trust Administration. Led team of 9 employees to deliver annual revenue of $4.5 million.
Senior Vice President, Customer Experience (KSR Team) 07/04 - 07/05
LaSalle Bank - Chicago, IL
• Developed process and led new team of six to improve processes that support a client’s experience with LaSalle.
First Vice President, Wealth Management Product Development 06/00 - 07/04
LaSalle Bank - Chicago, IL
• Led 10 employee team focused on new product introduction and process improvement for trust, investment, brokerage and private banking
Vice President, Relationship Manager & Wealth Custody 06/83 - 06/00
LaSalle Bank - Chicago, IL
• Relationship Manager: Serving wealthy families, charitable organizations and institutions.
• Custody Service Sales: To investment firms, corporations, non-profits, family offices, high net-worth individuals.
• Custody Manager: Led client service teams ranging from 5 to 11 employees.
• Business Project Lead: Interface development/service enhancements for advisors and institutional clients.
Trust Operations 09/80 - 06/83
LaSalle Bank - Chicago, IL
• Supervision and operations processing
Professional Accomplishments
Leadership & Transformation
• Product Integration – Led business team to successfully integrate and expand LaSalle’s mass affluent offering with Bank of America’s Premier Banking & Investments. Clients representing $2.2 billion in deposits were introduced to the service. Opened 7 new locations and hired/trained 40 FTE’s in less than 5 months.
• Cross Sales – Successfully led cross functional team in the launch of a new mass affluent segment strategy (LaSalle Preferred Services). Deepened existing client relationships by growing accounts per household from 3.9 to 4.53 in one year. Worked with Wealth Management leader to transform business into an integrated business with a focus on deepening client relationships.
• System Integration – Led implementation of Wealth Management’s Global Plus trust accounting system. Creatively leveraged existing call center technology with LaSalle Preferred Services to efficiently deliver “personal” service to mass affluent market segment.
• Business Vision – Worked successfully with President of brokerage firm to transform retail brokerage business to a more profitable client-focused model based on advice and planning. Realigned processes, advisor support and products to support model.
• Quality Champion – Successfully improved external/internal audit results for both Wealth Management and LaSalle Financial Services (brokerage). Internal audit results rose from “unsatisfactory” to “satisfactory.”
• Change Agent – Identified/exited unprofitable business in alliance partnerships of small trust unit. Reviewed and realigned small unprofitable trusts. Reduced headcount by 2 FTE’s and maintained service levels.
• Compliance Rigor – Introduced a new Personal Financial Services (PFS) compliance structure. Resulted in a central compliance group that leverages organizational expertise, consistent oversight of diverse units, knowledge sharing, and risk reduction by the elimination of gaps. Internal Counsel and Compliance approved the plan and stated it saved the bank consulting fees for the design and reduced overall risk.
Product Development
• VIP Access – Developed on-line site for wealthy clients integrating banking, brokerage and investments resulting in 30% penetration of Wealth Management clients.
• Wealth Multi-Manager – Partnered with investment group and leveraged internal systems and outside advisors to develop program driving growth from zero to $600 million AUM.
• New Hedge Fund Product – Project Leader - Partnered with outside fund manager to introduce product to Wealth advisors.
• Mutual Fund Wrap Program – Led team to launch brokerage wrap by leveraging legacy bank product. First year asset growth of 36% to $400 million. Simultaneously exited relationship with outside vendor yielding $700K in annual savings.
Process Design & Enhancement
• Risk Reduction – Enhanced design for investment and fiduciary account reviews; ability to route forms from remote offices and a database for tracking. Led team in the development of an on-line KYC/Patriot Act internal form. Internal Risk Management commented it should be the model for the larger organization
• Business Efficiencies – Led team in creation of a central Wealth Management account service unit to support portfolio managers and trust administrators. Centralization led to consistent processes, fewer errors and ability to grow assets with fewer FTE additions. Improved brokerage operational processes resulting in enhanced customer service and advisor services, efficiencies and internal controls.
• Crisis Management – Created a more economical Wealth Management disaster recovery plan saving $100K+ per year. The plan was quickly and successfully implemented during the 2004 LaSalle Bank fire.
• Customer Experience – Created new process to collect front office information from employees across PFS that resulted in a poor customer experience. Developed a cross functional dynamic team; resulted in over 700 processes/procedures changed in the first year. Process is under review by BAC for national use.
• Strategic Acumen – Led a Wealth Management Marketing & Product Development Council. Cross-functional teams to ensure activities were tied to strategic initiatives.
Education & Activities
FINRA – Series 4, 7, 24, 53 & 66
DePaul University, Chicago, IL – Certified Financial Planning Program, 2005-2006
Loyola University, Chicago, IL – Master’s Degree, Finance, 1989
St. Mary’s College, Notre Dame, IN – B.A., History (Minors: Art History & Business), 1980
• Studied in Rome, Italy one academic year
Sacred Heart School, Winnetka, IL – Treasurer, P.T.O.
Bank Of America Spirit Medallion Award Winner - in recognition of efforts related to integration of banks.
ABN AMRO Horizon Award Winner - in recognition of efforts related to leading Wealth Management team in the conversion of trust accounting system |
