A few musings about the banking industry—some funny, some informational, some sarcastic—but all based on themes I hear in my discussions as Head of Banking & Fintech recruiting at Travillian.
A Recruiter’s Place
My profession is sometimes boiled down to one word, “headhunter.” For whatever reason, I’ve never loved this word — although in pickleball, I’ve earned the nickname for aiming at my opponents’ noggins. The term originated from indigenous cultures, where warriors collected enemies’ heads as trophies. However, in modern times, it was adopted to describe recruiters who actively “hunt” for the best talent. While there might be some truth to this, I’d rather be called an “archaeologist” because, like Indiana Jones, we unearth hidden treasures through proactive, meticulous, and rigorous processes. And sometimes, we must decipher cryptic communications like voicemails, emails, and even text messages!
Being an executive recruiter in community banking is also a bit like being Dr. Melfi on The Sopranos – we help larger-than-life personalities find their balance and further their careers. Occasionally, we’re more like an Ari Gold from Entourage, sharing in the bravado, success and failures of close contacts we’ve had a long standing relationship with whom in many cases, also become friends.
The stories we hear are universally amazing; sometimes painful, sometimes triumphant, always interesting. We’re shoulders to cry on, ears to bend, but most importantly, a trusted confidant for our clients.
What are We Working on Now?
One of the first questions I always get is, “What are you seeing out there?” My quick answer is that with first quarter behind us, we’ve never been busier and noticed an almost immediate pick-up once the November election results were final. The chart below shows a rolling one-year overview of the roles Travillian has been most focused on recruiting for.
CFO: For four years running, the CFO role has reigned as our most-recruited role. This is an obvious signal that banks have put a premium on strong financial leadership, especially an emphasis on a true “number 2” who can be a more strategic, fiscal manager. In 2023, this trend popped even more so due to the liquidity crisis, market volatility, efficiencies and cost control efforts needed due to compressing net interest margins. Many of our searches were triggered by the “silver tsunami” or retirement wave of aging bankers. Some retirements were carefully planned, others gently encouraged, and we also see turnover that is more assertively orchestrated.
President or CEO: These roles are the absolute most important for an organization to get right. Like our CFO searches, retirements have driven most of these searches, but we’ve also helped organizations find new leaders who have been recruited away and, sadly, passed away. A major lesson learned in these searches is that you will need to have flexibility in your ideal candidate, not necessarily on desired skills or banking background, but perhaps on softer skills or titles.
Given the limited talent available locally, our searches almost always extend nationwide to ensure banks have access to a broader, more competitive candidate pool. We’ve placed people from Georgia to Wisconsin, New Jersey to Iowa, even Florida to Utah. The best CEO candidate can sometimes be found anywhere, and forcing a local residency requirement could mean missing out on high-caliber leadership. Paramount is to focus on the candidate’s ability to drive growth, inspire a team, and foster innovation rather than where they currently live or spent prior stops in their professional career. Many a CEO in this country lead nationwide teams successfully via travel and technology.
Recent Placements
Succession Planning
You’ve probably heard this more times than that persistent telemarketer trying to sell you an extended warranty—but here’s the reality: bank executives across the country are gearing up for retirement, and boards really need to get ahead of the game with their exit plans. While some boards assume a 12–24 month retirement notice provides ample time to plan, it’s never too early to start evaluating your leadership bench. FMS Bank Chairman John Sneed will tell you this; his CEO unexpectedly passed away and Travillian assisted him. Search work and employee development takes time, and you need to start now if you’re not doing it. Establish two concurrent processes: continuously evaluate your emerging talent bench while actively scouting external candidates for future leadership.
Continually evaluating your internal pipeline is critical. By regularly reviewing performance, potential, and leadership competencies, rising talents can be identified and nurtured through personalized development programs. This proactive approach not only builds a robust bench of future leaders but also reinforces the organization’s commitment to career growth and stability.
While nurturing internal talent is essential, casting a wider network to scout external candidates brings fresh perspectives and innovative approaches into the leadership mix. By leveraging a nationwide pool of top-tier talent, you enhance the chances of finding successors who can complement and elevate your existing team, ensuring that your organization remains dynamic and competitive in an evolving market. Whether banks earmark external candidates themselves or hire firms like Travillian, it’s critical that these processes begin now.
Outgrowing Your Talent
Our clients are united by one common thread: we’ve been there for them during transformative moments in their history. We take pride in guiding banks through change by introducing leaders who can seamlessly integrate into their culture and elevate the entire organization.
For example, Travillian was called upon to rebuild the finance division at CenterState Bank right before its merger with SouthState Bank. CenterState had grown from $4B to $17B in just five years through M&A, necessitating new skills that their previous, smaller-bank talent could not provide. We successfully placed a Head of Budgeting, a Director of SEC Reporting, a Head of Capital Planning & Stress Testing, and a Head of Model Risk Management. When growth is as rapid as this, there’s no room for delay or underperformance.
In another case, Travillian helped Emprise Bank ($2.5 billion in assets, based in Wichita, KS) deepen its embedded banking strategy by recruiting new leadership and assembling a strong support team. We filled key roles—including EVP of Innovation & Strategy and critical BaaS compliance and BSA positions—which set the stage for transformative innovation and exciting market disruption.
These are just two of countless examples over the years, and I always advise my clients that these decisions are rarely easy. Often, making a change means that someone who is already part of the team will be replaced or gradually phased out. Such transitions can disrupt team dynamics and affect morale. That’s why any upgrade must be executed with great care and sensitivity.
It’s essential that the vetting process goes beyond assessing hard skills and leadership abilities. New candidates must also possess interpersonal skills and emotional intelligence to help ease the transition, maintain trust, and reduce any potential resistance among existing staff. In short, choosing a successor isn’t just about hiring someone who can do the job – it’s also about ensuring that the change can be absorbed smoothly by the organization, minimizing disruption while paving the way for growth and innovation.
Our experience underscores that when growth is mercurial, the right leadership is vital to keeping all ships sailing smoothly in the harbor.
In closing, the evolving landscape of community banking demands transformative leadership and strategic talent planning. Whether it’s rebuilding entire departments during rapid growth or establishing succession planning processes, every challenge presents an opportunity. Our work at Travillian is driven by this understanding—we help banks preserve their culture while evolving for the future. And we enjoy every minute of it.
To learn more about Travillian and our recruiting services, please visit our website. You’re also welcome to contact Brian Love, Head of Banking & Fintech, directly at blove@travilliangroup.com.
