What’s the key to successful leadership in times of fast-paced change? To Jen Piepszak and Marianne Lake, co-CEOs of Chase Consumer & Community Banking, it includes focusing on the customer and building and maintaining strong company culture. In this episode, the two leaders take the stage with Women on the Move Host Sam Saperstein as part of the sixth annual WOTM Leadership Day.
As co-leaders, Marianne and Jen have split up the Consumer & Community Banking umbrella: Marianne runs consumer l...
What’s the key to successful leadership in times of fast-paced change? To Jen Piepszak and Marianne Lake, co-CEOs of Chase Consumer & Community Banking, it includes focusing on the customer and building and maintaining strong company culture. In this episode, the two leaders take the stage with Women on the Move Host Sam Saperstein as part of the sixth annual WOTM Leadership Day.
As co-leaders, Marianne and Jen have split up the Consumer & Community Banking umbrella: Marianne runs consumer lending and connected commerce, and Jen heads up banking businesses and wealth management. Jen tells Sam that their successful partnership is built on a lengthy experience of mutual trust, respect, and friendship. And while they’ve split up the responsibilities, they spend a lot of time collaborating on issues that make all experiences easier for customers.
“Be the CEO of whatever you’re running”
When Sam asks Marianne about the traits she looks for in leaders and managers, Marianne shares that for her, this includes putting the customer first and communicating clearly with the team every step of the way. She says that being the CEO of whatever you’re working on includes understanding and focusing obsessively on customer needs and putting the customer—internal or external—at the center of all decision-making. “Oftentimes the best way you can obsess about the competition is obsessing about the customer,” she says.
Once a leader has clarified their focus, Marianne says communication is key. “Whatever you have defined as success for your business or endeavor, you need to communicate it clearly, consistently, and often because people in the team can get behind what they understand,” she tells Sam.
After that, she says, a keen attention to the data analytics is necessary: She recommends being very disciplined about showing data-driven decisions that people can understand. “Jamie [Dimon, JPMorgan Chase CEO] has said often and I agree with him: data analyze, rinse, repeat,” she says. “It takes the emotion out of decisions.”
Building and maintaining culture
Jen and Marianne discussed one of the largest changes they’ve managed over the past 18 months—the sudden move to remote and then hybrid work, which the company continues to pilot and test. Jen says that there’s a difference between the initial fast-paced move to remote work versus what flexibility will ultimately look like going forward. She notes that the pandemic had a disproportionate impact on women and that the flexibility coming out of it will likely have a disproportionately positive impact on women as well.
“I think it was extraordinary what we were able to do in a weekend really, turn our entire workforce into a remote workforce,” she says. “I do think that we have proven that you can maintain culture in a remote environment. We have yet to prove that you can build culture in a remote environment. And so I think having an office-based culture is incredibly important to this company for a very, very good reason.”
Jen and Marianne both agree that while remote work offers valuable flexibility, the in-person experience is critical to establishing team relationships and ultimately building culture and trust. “And I think that is a huge motivating factor for anyone,” Jen says. “In person, you have that opportunity to build that culture. And yes, you also have that opportunity to take a little bit more time to work through an issue or solve a problem, or run next door to Marianne's office and say, what do you think about this?”
Full transcript here
