With new leadership at its helm in Baton Rouge, Whitney Bank is positioning itself to grow its presence in the local market, particularly in the commercial, middle market and corporate banking sectors.
Earlier this month, Robert Schneckenburger left his position as local market president of Chase Bank, along with Chase’s long-time senior vice president Jeff Gould, to assume top leadership roles at Whitney, which has more than $2 billion in assets in Baton Rouge. Schneckenburger is now Whitney’s regional market president; Gould is group manager for middle market and corporate lending.
“We are gearing to expand,” says Duayne Richard, Whitney’s senior regional president for the southwest super region and Schneckenburger’s supervisor. “We are strategically planning our growth.”
Schneckenburger, who has more than two decades experience in the local banking market, says moving to Whitney is an exciting career move that presents him with new challenges.
“You have a bank with a great legacy in a market that is poised for some good growth,” he says. “When I looked at the level of talent at Whitney it could not be matched, so the potential is great.”
In his new position, Schneckenburger says he will focus on growing Whitney’s presence in all sectors, from retail banking and business banking all the way up to corporate lending.
There are plenty of opportunities for growth. Whitney has long had a presence in Baton Rouge, and since its acquisition in 2011 by Hancock Holding it has had an even larger footprint in the state capital. But banking analysts say Baton Rouge has not been as strong a market for Whitney as elsewhere in the state.
“Baton Rouge has not traditionally been one of Whitney’s strongest markets,” says Sherwood “Woody” Briggs, vice chairman of Chaffe & Associates in New Orleans. “Whitney was always stronger in New Orleans and the southwestern portions of the state so they have room to grow.”
Richard does not disagree that Whitney has been “heavily weighted on the energy side of things in Houston and Lafayette,” adding the Baton Rouge market is attractive because it provides a good diverse customer base that extends beyond the energy services sector.
“Baton Rouge gives us real diversification,” he says. “It’s a great mix to have.”
In its new growth mode locally, Whitney will also focus on the retail side, which means the bank will be looking for opportunities to open new branches in the future, even as many banks are scaling back the number of brick and mortar storefronts they have.
“We may see in the future the establishment of additional branches,” Richard says. “At the same time we may find relocating branches that have become antiquated. We still see the need for identity and branding and that comes with branches, so that’s not to say we won’t close some in the future, but we’ll be opening others.”
—Stephanie Riegel
