How any business leader can create an atmosphere of competitiveness for
exceptional growth
When Ray Davis took over the local 40-person South Umpqua Bank in 1994,
many people in the industry poked fun at his insistence that employees
answer the phone with a cheery "World's Greatest Bank." Eleven years, $7
billion in assets, and 128 branches (or " bank stores" in Umpqua lingo)
later, the moniker seems quite apt. Other banks scratched their heads
when Davis sent his tellers to Ritz-Carlton to learn customer service
and were intrigued when he hired a cutting-edge design firm to
completely re-think retail layout. Now, with a top design award under
their belt, a name change (there never was a North Umpqua bank), and a
completely new definition of the banking business, Umpqua has become the
darling of the entrepreneurial press and a growth powerhouse. The New
York Times calls Umpqua "Starbucks with tellers."
Ray Davis (Portland, OR), named by U.S. Banker as one of the 25 most
influential people in the financial industry in 2005, is President and
CEO of Umpqua Holdings Corporation. Alan Shrader (Moraga, CA) is an
experienced writer and editor of business books.