Financial advisors in the bank channel often talk about leveraging their branchs tellers and lenders to build their client books. But its the rare bank investment program that effectively ends up partnering with other bank units. Kim Burdick, senior vice president and group executive for community banking at Fremont Bank in Fremont, Calif., thinks he knows the reason.
Burdick, who oversees Fremont Banks mortgage lending, commercial lending and deposit operations, as well as the banks investment program, arrived at Fremont a year ago from a similar post at Opus Bank in Irvine, Calif., with the goal of making the whole bank work as a team. So far, it would appear that his project is working. Currently, the cross-selling between deposits and loans is above 80%, he says. The cross-selling between loans and the investment program is 50% and growing, and the cross-selling between deposits and investments is close to 40%, which I think is pretty high for this industry.
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