Rilla Delorier: customers are looking for someone they can trust.

PositionInterview

Rilla Delorier last year was named as chief marketing officer for SunTrust Bank Inc., Atlanta (Assets: $177 billion), the first female to hold that position. Previously, she served as senior vice president of marketing for the bank's investment and management business. Earlier she owned her own marketing consulting firm, served as chief marketing officer for PNC Advisors, was vice president of health care marketing for The Advisory Board, and vice president and business manager for WFD Consulting.

Q: What is the biggest challenge facing bank marketers today?

A: Earning the trust of clients. Given all of the instability in the financial markets--clients do not know who to trust with their money. This is an unprecedented time of instability and clients want to know that their bank is here to stay and that they can trust their bank to be focused on serving them, versus being distracted by mergers or trying to solidify their capital position....

Beyond the issues within the financial industry, clients also need help better managing their money. Many Americans are overextended and need to get a better handle on their financial situation....

Q: What do you expect to be the biggest marketing challenges three to five years down the road?

A: The entire financial industry has changed dramatically over the last few months. On one hand, there are fewer traditional bank competitors, with significant competitors such as Wachovia and Washington Mutual being taken over. On the other hand, investment banks are now entering the banking industry. The landscape has changed and the nature of competition is suddenly very different. We, as a country, are trying to digest all of these changes that have just occurred, and we are all struggling to project how this will play out over the next three to five years.

However, with all of this change comes tremendous opportunity. Clients are seeking stability and certainty and they are very willing to move their banking relationships....

For a long time SunTrust was criticized by analysts for not aggressively pursuing the more "sophisticated" financial instruments. We are now benefiting from our commitment to stay focused on fundamentals and remaining committed to doing the right thing for both clients and shareholders.

Q: Cross-selling is a big topic these days. Since you come from the investment side of the business, do you have any thoughts about how banks can encourage cross-selling with their investment, insurance...

To continue reading

Request your trial

VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT