Scanniello crunches numbers plus banking’s gender barrier

BOULDER – Many say banking is still a man’s game in the Boulder Valley, but don’t tell that to Donatella Scanniello.

“In my experience, I don’t see a gender difference in career progression,” she says. “It’s really about who is most capable in a role, who works best with customers and who delivers results.”

Scanniello took over as regional president for JP Morgan Chase & Co. in Boulder last April from Clair Beckmann, who retired after decades of service and was well known in both banking and community circles.

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Previously, Scanniello was senior vice president of Chase Bank in Boulder.

“As far as women leaders, we’ve been fortunate at JP Morgan Chase to follow Clair’s local lead,” Scanniello says. As regional president, Scanniello oversees 11 banks in Boulder, Longmont, Broomfield, Louisville, Lafayette and Westminster.

Scanniello says women have worked in the financial industry for decades and in increasingly responsible positions.

“Since interstate and branch banking really took hold in Colorado I think even more women find banking careers attractive. (It’s) because of the flexibility of working near your home while raising a family,” she says.

She adds that banking has a long career span.

“You can easily build an entire career in banking, doing a variety of jobs. Many executives today began as tellers and customer service representatives while they were in school or just out.”

But Scanniello admits women are lacking representation at the very top.

“The momentum is building. There is no doubt in my mind that the next generation will be there,” she says. “The new generation of women has more self-esteem, a greater ability to work as team players on a diverse team and push the team to success.”

Scanniello’s career in banking came after she interviewed with some of the big names in other industries, such as Procter & Gamble, IBM and Nestle.

“I decided banking would be a more dynamic environment,” she says. “Plus, my dad agreed. There’s never a dull moment in banking, as you are dealing with a diverse group of customers in different industries that are always innovating, driving efficiency and making you stay at the cutting edge.”

Scanniello was born in Mexico City and grew up in several South American cities until she came to the University of Colorado at Boulder.

She says growing up in Mexico with Italian parents gave her the chance to become fluent in Spanish, Italian, French and English.

She holds a bachelor’s degree in economics and an MBA in finance – both from CU.

After graduation, she returned to Mexico City to work for Chase Manhattan.

She explains that Mexico’s economy was in a recession, and the bank wanted to send her to Venezuela. She chose to return to Colorado instead.

After moving back north, she worked for Colorado National Bank in Denver for five years and then decided to join the First National Bank in Boulder because she was closer to home and had young children. She worked there for 22 years, and her career has revolved around the commercial and commercial real estate lines of business.

She says she attributes her success to the basics.

“You must be diligent, professional and honest, respect yourself and others and always be a team player,” she says. “And realize that reality is what it is and not what you want it to be. Never intimidate or be intimidated.”

And when it comes to competing, she’s tough.

“Put a stick in their side, and let them know you are there.”

That may come in handy considering the amount of banking competition in the Boulder Valley.

“The marketplace is very competitive,” she says. “But it’s a good time for banks in part because of Colorado’s growth and demographics. So as the pie grows, there is room for more competition. Ultimately competition helps customers have more and better choices.”

She adds that industry analysts are seeing great expansion among banks with a long history in Colorado. She mentioned that JP Morgan Chase is opening nearly 20 branches a year along the Front Range, and the bank will have 100 locations by the end of next year.

“We’re incredibly strategic about opening branches, to ensure we can build a customer base quickly and invest our capital wisely,” she says. “It costs between $3 million and $5 million to build a new branch from the ground up.”

She says JP Morgan Chase separates itself from the competition through a combination of realizing that, “all business is local while leveraging the power of our global position.

“We have the capital to grow our local branch system indefinitely, but it’s our local bankers and community commitment that will help us win in the end,” she says.