2020 Azbee Awards of Excellence

Category

Online > Web Feature Article > Northeast

Awarded to

Alan Kline, Senior Editor
Bonnie McGeer, Executive Editor

Entry details

The Rise of the Next-Gen Bank CEO

Issue or publication date: May 1, 2019
Publication name: American Banker
Publishing company: SourceMedia
Website home page: www.americanbanker.com

Please describe the publication's mission and readership:

American Banker is the essential resource for senior executives in banking and financial services, keeping its users updated on vital developments and focusing sharply on their most important concerns — innovation, transformation, and disruption; technology, regulation, and reform. Financial industry professionals turn to American Banker, every day and throughout the day, to stay maximally informed — drilling down on complex issues, keeping up with breaking news, and downloading research and data. Paid subscribers and registered visitors engage deeply with an authoritative community of analysts, practitioners and innovators through opinion content, research panels, social media, and live events.

Please describe the enterprising work that went into this entry and its significance or impact on readers:

In August, nearly 200 members of the Business Roundtable signed on to a statement of five principles, a manifesto greeted with shock in some circles because “generating long-term value for shareholders” was last on the list.
The New York Times, among others, hailed the statement, but readers of American Banker were not surprised. In his May 1 piece, “The Rise of the Next-Gen Bank CEO,” Senior Editor Alan Kline interviewed dozens of senior bank executives to learn how their job responsibilities had changed over the past decade. Chief among them was that profit is no longer their preeminent concern.

Kline discussed how CEOs have been forced to take stands on topics like guns and climate change; create “nurturing, forward-thinking, inclusive and values-based” workplaces; and improve governance, reputation and culture. “There is a growing recognition that being a corporate leader means stepping out and standing for values, not just the bottom line,” the head of a nonprofit said.

American Banker forecast what the Roundtable would later announce, with principles that echoed the story's themes, including delivering value to customers, investing in employees, acting fairly and ethically, and supporting communities.

The article’s analysis went beyond anticipating a trend. It provided bank CEOs with a blueprint on how they need to change if their companies are to succeed in this new corporate world.

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Entry URL(s), if applicable:
https://www.americanbanker.com/news/rise-of-the-next-gen-bank-ceo

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