Peg Hudson named as new chair of the marketing network: static or shrinking marketing budgets, increased regulatory oversight, and growing competition listed among challenges facing the industry.

PositionABA Marketing Network

Peggy ("Peg") Hudson, CFMP, has been named chair of the ABA Marketing Network for 2004-05. Hudson is senior vice president and director of marketing at American Trust & Savings Bank, Dubuque, Iowa. She previously served as a member of the eight-person Marketing Network Council, which is the advisory group for the network's activities.

Two new council members were named for 2004-05. They are Jeff Bargerhuff, director of marketing for Nevada State Bank, a $3.3-billion asset institution in Las Vegas; and Meredith C. Bourne, CFMP, senior vice president and marketing sales/service group manager for BB&T, a $92-billion asset organization headquartered in Winston-Salem, N.C.

The new chair, Hudson, has a master's degree in communications. She began her career as a producer and director for television. Some years later she left television for the field of banking. Seeking to avoid the turmoil of mergers and acquisitions, she left banking for a few years and worked in fund-raising and higher education. A banker at heart, it wasn't long before she was recruited back to banking. She graduated with distinction from the ABA School of Bank Marketing and Management.

At American Trust & Savings, she leads the marketing, sales administration, quality assurance, and relationship banking functions. She sets and achieves strategic objectives, and develops and executes annual marketing plans. Peg is also a member of her bank's senior and strategic management teams.

The magazine recently had an opportunity to interview Hudson about industry issues. The magazine's questions and her answers appear below.

Q: What do you see as the challenges and issues facing marketing professionals within the next five years?

A: Effective bank marketing professionals think of themselves as bankers; and, like their banking colleagues, marketers are constantly challenged by changing economic forces and political events. During the next five years, many bank marketing professionals will be challenged to make enhanced strategic contributions to their organizations with the same--or less--resources.

New and evolving regulations will continue to complicate marketing efforts in the coming years. From regulations related to the Patriot Act to changes in overdraft privilege administration, public relations and product management will become more demanding. As a result of Sarbanes-Oxley, marketing strategies, expenditures and results will be scrutinized through a new lens, and many chief...

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