DALLAS – Elaine Agather has a title for the book rattling around in her head: “Merger She Wrote.”
“But I’ll have to wait to write it until after I retire,” the 49-year-old chairman of Chase-Dallas Region said with a laugh.
You see, Agather has survived – no, make that thrived – despite eight mergers in her 26-year banking career.
The native of Sherman, Texas, went to work for Chemical Bank of New York in 1979 and basically never left. Her responsibilities grew every time the bank added to its domain – including the latest grand junction of J.P. Morgan Chase & Co. and Bank One Corp., creating a $1.1 trillion behemoth.
How has she pulled this off? By following “Elaine’s Eight” – simple rules that are actually quite tough to stomach. Her alliterative list is appropriate for kids aged 2 to 92. Just ask her two teenaged daughters.
1 Saddle your own horse.
“I see a lot of people at the bank waiting for someone to help them with their careers or tell them what to do next,” she said. “That’s the worst thing you can do.”
Agather, a two-stepping, boot-scooting cowgirl who rides the Grand Entry of the Fort Worth (Texas) Rodeo, credits this idea to Connie Reeves, inducted into the National Cowgirl Museum and Hall of Fame at age 95.
2 Like what you do.
Note that she didn’t say, Do what you like.
“Deal with the cards you’re dealt. Those who excel figure out how to like what they’re doing and make the most of it. Some fight it from day one, and it becomes a real problem.”
3 Turn on a dime.
“Embrace new ideas particularly when you don’t like them. How you respond to change matters most.”
4 Stay connected.
“It’s not just about the deal. It’s about the relationship. Find people willing to mentor you and reach out to those who might want to learn from you.”
It also means don’t burn bridges. When she holds executive-team meetings these days, there are six Bank Oners who reported to her in past lives.
“The good news is we’re all good friends because we stayed connected.”
5 Practice free speech.
“I overcommunicate. I often have to say something seven times before everyone hears it. E-mail’s great, but you can’t use it for everything. You need to be seen and have direct contact.
6 Get over it.
“This is absolutely my daughters’ least favorite. You see people trip up so many times because they dwell on what happened yesterday.
“Get over it, like what you do and make it successful. Very simple stuff,” she said.
7 Develop your funny bone.
Recently, Agather dressed up as the Easter Bunny (although she declined having her photo taken in full ear gear). At Christmas, she donned a skirted Santa suit and crooned “Santa Baby” with the Chase Choir.
8 Strengthen your backbone.
“Backbone is critical. You have to do the right thing even when it’s not easy or popular. Integrity has to be our guiding value. We’re nothing without it. My ability to create trust is the reason I’ve lasted for 26 years.”
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