Pinnacle Financial Partners and United Community Bank executives discuss current financial risks
May 30, 2019
The Upper South Carolina Chapter of the Risk Management Association (RMA) held a panel discussion with three prominent financial services executives on Wednesday, May 29 in Greenville, S.C. to discuss challenges facing the industry. The fourth annual panel included Lynn Harton, Chairman and Chief Executive Officer of United Community Banks, Inc.; Terry Turner, President and Chief Executive Officer of Pinnacle Financial Partners; and Neil E. Grayson, Chair of the Financial Services Corporate and Regulatory Practice at Nelson Mullins Riley & Scarborough, LLP. The structured Q&A was moderated by Allen Gillespie, President and Managing Partner of Investments of FinTrust Investment Advisors.
“It is so important for members of our industry to come together in a non-competitive way to discuss the significant issues facing us today,” said Harton. “As a longtime member of RMA, I value the ability to discuss the many risks our industry faces in an open discussion that ultimately helps people stay informed and makes the industry safer.”
Gillespie began the discussion by asking both Turner and Harton about the significance of culture to their organizational success. Both executives agreed that intentional cultivation of culture drives strong performance. Turner said that Pinnacle aims for an authentic culture through their emphasis on hiring bankers with significant experience while also setting – and achieving – high retention goals. Harton added that at United, their goals are aligned with their culture, which has been a big part of the bank’s success during a period of growth.
The panel discussed also several different topics that present risk to banks, including technology and fintech competitors, changes in regulations, mergers, credit, the economy and the current cycle. As an advisor to a number of different financial institutions, Grayson offered an external perspective on the trends he sees when working with the industry as a whole. On the topic of regulation, Grayson said he believes that within the new regulatory environment, the tension and stress at the regulator level has been lifted somewhat, paving the way for positive working relationships between banks and regulators.
Harton and Turner represent two of the largest Southeast regional banks with locations across North Carolina, South Carolina, Georgia, Tennessee and Virginia. Grayson services clients in South Carolina, Georgia and New York. For more information about Pinnacle Financial Partners, please visit www.pnfp.com and for more information about Nelson Mullins, visit www.nelsonmullins.com.
About The Risk Management Association
Founded in 1914, The Risk Management Association (RMA) is a not-for-profit, member-driven professional association whose sole purpose is to advance the use of sound risk management principles in the financial services industry. RMA promotes an enterprise approach to risk management that focuses on credit risk, market risk and operational risk. Headquartered in Philadelphia, Pennsylvania, RMA has 2,500 institutional members that include banks of all sizes as well as nonbank financial institutions. They are represented in the Association by 18,000 individuals located throughout North America, Europe, Australia and Asia/Pacific.
About United Community Banks, Inc.
United Community Banks, Inc. (NASDAQ: UCBI) is a bank holding company headquartered in Blairsville, Georgia, with executive offices in Greenville, South Carolina. The company is one of the southeast region’s largest full-service financial institutions with $12.7 billion in assets, and 149 offices in Georgia, North Carolina, South Carolina and Tennessee which operate as United Community Bank, the company’s bank subsidiary. The bank specializes in personalized community banking services for individuals, small businesses and corporations. Services include a full range of consumer and commercial banking products, including mortgage, advisory, and treasury management. Respected national research firms consistently recognize United Community Bank for outstanding customer service. For five consecutive years, J.D. Power has ranked United Community Bank first in customer satisfaction in the Southeast. In 2019, for the sixth consecutive year, Forbes magazine included United on its list of the 100 Best Banks in America, and for the first time included United on its list of The World’s Best Banks. Additional information about the company and the bank can be found at www.ucbi.com.
