Urban Bankers: A Place to Be Somebody

5 Pages Posted: 21 Oct 2008

See all articles by Gerry Yemen

Gerry Yemen

University of Virginia - Darden School of Business

Martin N. Davidson

University of Virginia - Darden School of Business

Multiple version iconThere are 2 versions of this paper

Abstract

Charles Grace and Jerome Hicks were seated beside each other at a meeting the president of Chase Manhattan Bank Delaware had called. Hicks and Grace were financial associates at Chase Manhattan and members of the Urban Bankers Coalition. As they listened to the president's speech they were staggered to hear him say, “…we need more people to become involved in our community enhancement programs—dedicated employees like Jerome Hicks and Charles Grace who helped Chase Manhattan be named bank of the year for two years straight.” His sentence lay like an unexploded bomb between Hicks and Grace. They were aware that all eyes had turned towards them. They had already sensed that some of their colleagues and superiors were uncomfortable with the relationship they had developed with the president. Why did they feel like this would be the last step over the edge??? This case opens the door to discuss relationship building and special challenges those in the minority face in building relationships.

Excerpt

UVA-OB-0753

URBAN BANKERS: A PLACE TO BE SOMEBODY

Not a seat was empty in the drafty cafeteria that early February evening in 2000. Charles L.Grace and Jerome L. Hicks were seated beside each other at a meeting Michael Barrett, president of Chase Manhattan Bank Delaware, had called. Hicks and Grace had more than their middle initials in common. They were both financial associates at Chase Manhattan and members of the Urban Bankers Coalition. As the pair listened to Barrett's speech they were staggered to hear him say, “We need more people to become involved in our community enhancement programs—dedicated employees like Jerome Hicks and Charles Grace who helped Chase Manhattan be named bank of the year for two years straight.”

That sentence lay like an unexploded bomb between Hicks and Grace. They were aware that all eyes had turned towards them. This pair had previously sensed that some of their colleagues and superiors were uncomfortable with the relationship they had with Barrett. This would be the icing on the cake.

Banking in Delaware

Delaware was the “first state” to enter the union and was sometimes referred to as the “Diamond State.” For its diminutive size, only 1,955 square miles of land, Delaware had several nicknames. Being home to the mega corporation DuPont, Delaware garnered the “company state” label. As the exclusive dominance of the DuPont enterprise declined, and laws implemented that removed most limits on the interest credit card companies could charge, Delaware acted as a magnet for national banks and became a leader of interstate banking. This helped shift the state's call name to the “Corporate Capital of the World.” Another one of Delaware's main draws was emblazoned on roadside markers at every border crossing: “Home of tax-free shopping.” It's what kept traffic brisk around several of the state's tax-free gift and toy shops at the several border crossings—Maryland, Pennsylvania, and New Jersey.

. . .

Keywords: corporate culture, career planning, diversity, management of

Suggested Citation

Yemen, Gerry and Davidson, Martin N., Urban Bankers: A Place to Be Somebody. Darden Case No. UVA-OB-0753. Available at SSRN: https://ssrn.com/abstract=911085

Gerry Yemen (Contact Author)

University of Virginia - Darden School of Business ( email )

P.O. Box 6550
Charlottesville, VA 22906-6550
United States

Martin N. Davidson

University of Virginia - Darden School of Business ( email )

P.O. Box 6550
Charlottesville, VA 22906-6550
United States
434-924-4483 (Phone)
434-243-5020 (Fax)

HOME PAGE: http://www.darden.virginia.edu/faculty/Davidson.htm

Register to save articles to
your library

Register

Paper statistics

Downloads
64
Abstract Views
799
rank
283,667
PlumX Metrics