#27 - Leadership Masterclass (feat. Richard Davis, former CEO & Chairman of U.S. Bank)
Description
“Don’t you dare sell anything you wouldn’t want your grandmother to have,” says Richard Davis. “Get it off the shelf!” This ‘Grandmother Quotient’ is one of many leadership principles that the former CEO of U.S. Bank and now President & CEO of Make a Wish America shares in this episode.
It’s no secret that U.S. Bank during Richard’s (nearly two-decade) tenure set a standard of excellence, frequently being cited as one of the best places to work in America; racking up prestigious international awards for ethical business practice; and generating industry-leading returns to shareholders.
In this masterclass on principled, servant-leadership, Richard unpacks that elusive success. He recounts his rise from humble bank teller to CEO of one of the biggest banks in America, touching on key inflection points in his career such as leading U.S. Bank through the Great Recession and supporting employees and customers through social unrest in the 2010s.
“In our lives, we need to look around and see people with potential,” Richard says, reflecting on a bank manager named Cindy, who mentored him early in his career and set him on his path of leadership in banking. “Financial services,” he says, is all about the “word services–what you do for others and what you give back.”
His insightful, pointed commentary on why “we shouldn’t set goals, but directions,” or why we should always be the person to “take the next hardest assignment, not promotion,” is relevant to students and professionals alike. One of our first and foremost supporters at Scholars of Finance, Richard offers timeless wisdom through sincere stories. We hope this episode makes you a little wiser, just as it did for us.
00:00 - Background & Introduction
02:52 - Richard’s Early Career as a Bank Teller
08:50 - Becoming CEO of U.S. Bank
10:38 - Leadership Paradigms & Values
14:28 - Compassionate Servant Leadership
18:30 - Ethics at U.S. Bank & Financial Performance
24:30 - Characteristics of World-Class CEOs
31:20 - Organizational Culture & Employee Wellness
35:00 - Non-Profits as a ‘Patchwork Quilt’
39:10 - Richard’s Backstory with SOF
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