By: Carlie Dorshaw Moe, Manager of Development
Carlie Dorshaw Moe, Manager of Development at the chamber, recently spoke with Richard Holt, President of Bank of America's - Dallas Market, on what advice he would give a recent graduate entering the workforce for the first time.
What is your favorite thing about doing business in Dallas?
Dallas is a truly wonderful city for business. There are so many companies based here that our business community has a rich diversity of industries and areas of expertise. There is certainly always someone who can teach you something new, whether it’s in your own industry or in a completely different area.
One of the things that I enjoy most about my job is the chance to connect with Bank of America’s philanthropic activities. I’ve had the opportunity to meet so many leaders of Dallas’s non-profit sector, and it’s exciting for me to be involved in their work through the bank and the work we’re able to do together, or grants that we’re able to provide.
How does your company utilize social media?
People might be surprised to see a bank on social media, but at Bank of America we use social media in a variety of ways to connect with our customers and our communities. We’re pretty active on Twitter and Facebook. Our goal is to make financial lives better, and social media has been a great outlet for us to share tips and tricks to help our customers achieve that goal.
Our Twitter “Tips” account (@BofA_Tips) shares – as you can guess – banking and personal finance tips.
Our community account (@BofA_Community) is a place where we connect with many non-profit partners as well as share what our people are doing in their communities.
Recently, one of our employees competed on the NBC show “The Voice,” and she sang the National Anthem before an NFL playoff game in her hometown. We’re more than just bankers, and while we definitely share news about Bank of America and finance tips through social media, it’s also been a great way for us to connect with our communities on a personal, more human level.
We’re also on Facebook (www.facebook.com/BankofAmerica), where we share financial tips and news about the bank.
What is your business background? (education, previous jobs, etc.)
I received my bachelor's degree in business administration from Abilene Christian University, and went on to earn my MBA at the University of Texas – San Antonio. It’s hard to believe, but I’ve been in the banking industry for more than 30 years! I joined InterFirst Bank in 1978, which was then acquired by Bank of America, and I’ve been here ever since.
Throughout my time in the industry, I’ve been involved in real estate and commercial lending. I serve as the Market Executive of Middle Market Banking in North and Central Texas for Global Commercial Banking, helping provide comprehensive financial solutions and industry expertise to mid-size companies. I was appointed the additional role of Dallas Market President in 2008, and in this role I have the opportunity to oversee Bank of America’s business, civic and philanthropic activities in Dallas.
How long have you lived in and/or been doing business in Dallas?
I’ve lived in Dallas since 2007. Before moving to Dallas, I lived in San Antonio for 29 years.
What can the region look forward to seeing out of your business in the next year?
We’re working to enhance the execution of our strategy to serve the financial needs of individuals, companies and institutional investors by connecting our capabilities across the company.
On the community front, Bank of America will continue to provide grants to non-profits throughout the year, focusing on the areas of: workforce development and education, community development and housing and hunger. We’re also planning to increase our focus on the arts – such as our sponsorship of Dallas Blooms at the Dallas Arboretum.
How has the recent recession and subsequent economic upturn affected your business?
Bank of America offers a variety of services – everything from personal finance and wealth management, to financial services for small and large businesses, so we’ve certainly seen how the recent economics have affected our customers.
2014 will be a better year for Bank of America due to improving economic conditions and resolution of legacy issues. In Dallas, specifically, we’ve seen increased activity through mergers & acquisitions, equity/debt offerings and capital expenditures.
The DFW region survived the “great recession” better than most other regions. Due to our national footprint, we recognized and shared with our clients the changes occurring in the economic landscape. In several cases we worked with clients on modifying their business plans and strategies. Along with our advisory services we provided bank debt or helped access the capital markets.
What is your favorite Chamber program or event? The Educational Series.
What advice would you give a recent graduate entering the workforce for the first time?
What a great question. Remember that while many of the decisions you’ll make after graduation seem huge – where to live, where to work – they are all temporary. I’m fortunate that I found an industry I’m passionate about at the start of my career, but that’s not the case for everyone.
When looking for a job, look for a company that you believe in, a company that stands for something and offers you the opportunity to learn and to get involved in your community. Entering the “real world” can be a significant adjustment, and you’ll spend a lot of time at work, so it’s important to find a place that you enjoy – and it is a big plus if the company provides an opportunity to fulfill another area of your life, such as community involvement or philanthropic giving.
What activities/hobbies do you enjoy outside of the office?
My wife Kathy and I are empty-nesters now, so our hobbies are returning to our own interests, instead of revolving around our kids’ activities as they did for so long. Of course, it’s a special treat when our kids are in town.
For years I’ve been involved with various educational, civic and community organizations – which is why I became involved with the chamber. Outside of the office and my work with the chamber, I relish whenever I have the chance to travel.
What recent or upcoming changes in the region are you most excited to see?
Our offices are in the heart of Downtown Dallas, and it’s been great to see the transformation that is taking place in and around downtown. The city is really trying to make the downtown area more accessible to the Dallas community and it’s exciting to see some of the new landmarks, such as Klyde Warren Park.
Additionally, one of the areas that Bank of America is focused on supporting in 2014 is the arts industry, so I’ve enjoyed seeing how the Arts District is thriving – we have such unique art museums in Dallas, as well as outstanding performing arts organizations.