As Hancock Whitney aggressively seeks to expand its presence in the Baton Rouge market, the bank this week unveiled several changes to both boost its leadership ranks and fortify the institution’s local brand.
The Gulfport-based bank tapped local J.P. Morgan Chase veteran John Daniel as its new market president for the Baton Rouge region.
Daniel—a 30-year Chase veteran, most recently serving as executive director and senior vice president of government and higher education—says he never intended to “swap jerseys” but the bank’s offer was too good to refuse. He joins former colleague Robert Schneckenburger at Hancock Whitney.
“I would not have gone there in a lateral move, but the stars lined up,” he said.
Daniel succeeds Schneckenburger, who has been promoted to president of Hancock Whitney’s western division.
Talent poaching appears to be one strategy Hancock Whitney is using as it seeks to capture the local market. Daniel told Daily Report he’s counted at least two dozen senior Chase executives leave for the bank in the past five years or so.
Schneckenburger, himself, was a key figure in Hancock Whitney’s 2016 recruiting of high profile Chase executives. Former Chase Senior Vice President Jeff Gould left with Schneckenburger.
In its current form, Hancock Whitney is the third-largest bank in the Baton Rouge market, with assets topping $27.5 billion at the end of 2017. The bank is the result of Hancock’s 2011 acquisition of Whitney Bank for $1.5 billion.
The old money banks had strong brands, initially keeping their respective names in the markets where they were known. The dual identities worked for a while, but eventually, they became a complicating factor.
As such, Hancock Whitney on Tuesday unveiled its new logo—a white and blue “W” in a blue circle surrounded by the words “Hancock” and “Whitney.” The new name and logo is a natural progression after the merger, bank officials say, and are the result of a rebranding effort that began last fall.
Schneckenburger says he wants Hancock Whitney to be No. 1 in the local market in the next five years. The bank currently trails Chase and Capital One Bank in market share, with the two rival banks holding more than 60% combined.
But, unlike Hancock Whitney, their local presence is shrinking.
Hancock Whitney finished 2017 with more than 11% of local market share and nearly $1.8 billion in deposits, up from $1.6 billion in deposits and 10% of market share at the end of the prior year.
