CRAIN’S CHICAGO BUSINESS • July 27, 2020 13
MINORITIES IN COMMERCIAL BANKING Almost every leading financial instituon a mix of tools, including conventional
tion in the Chicago area is represented in Notable Minorities in Commercial Banking. These 40 executives cover the spectrum of services for clients ranging from large corporations to middle-market and small businesses. During the pandemic, many have worked to extend Small Business Administration Paycheck Protection Program loans, lifelines for small and midsize employers. A number are involved with community development lending and investment to revitalize underserved neighborhoods on the South and West sides. They draw
lending, tax credits and specialized loans, for affordable housing, mixed-use developments and community facilities. These bankers are active in their communities, volunteering for causes from social services to the arts. They participate in professional associations and lead employee resource groups for Black, Latino and Asian American colleagues. And they mentor younger professionals in the hopes of paving a smoother career path for the next generation.
By Judith Crown
METHODOLOGY: The individuals featured did not pay to be included. Their profiles were drawn from the nomination materials submitted. This list is not comprehensive. It includes only individuals for whom nominations were submitted and accepted after a review by editors. To qualify for the list, individuals must self-identify as part of a racial or ethnic minority and be employed at a bank at a level of vice president or above. They serve as role models, promote inclusive practices and assume leadership positions outside their organizations.
MOHAMMED ABUNADA Senior vice president First Midwest Bank
As a senior vice president based in Hickory Hills, Mohammed Abunada specializes in health care. Last year, Abunada and his team originated more than 50 loans, and he has originated an average of 50 loans per year over the past five years. The department has more than tripled in the past decade with more than 500 clients. Loan production and profitability increased more than 1.5 percent per year. In the past 18 months, Abunada provided construction loans for two oncology centers and a surgery center. He was working for Standard Bank in 2017 when it merged with First Midwest. Over several years he restructured about 20 loans for an orthopedic surgeon. Last year, he was appointed as a governing council member advocate at Christ Medical Center in Oak Lawn.
KANIKA AGARWAL CHAKRAVORTI Senior vice president, senior relationship manager Bank of America
At Bank of America, Kanika Agarwal Chakravorti manages a portfolio of private and public companies ranging from $500 million to $2 billion in revenue. Over the past 18 months, Agarwal Chakravorti has provided capital to Chicago companies in the auto, construction products and media fields. She led delivery of a follow-on offering for a mining industry client. Agarwal Chakravorti serves on the bank’s diversity and inclusion council, is chair of the bank’s Women’s Leadership Council and was nominated for the Women’s Next Level Leadership program. Before joining the Chicago team in 2017, Agarwal Chakravorti was a vice president and senior relationship manager for the San Francisco team, where she managed a portfolio of companies ranging from $50 million to $9 billion in revenue.
BERNARD BARTILAD
EVA BROWN
CARLOS R. CARDENAS
Senior vice president, market executive Fifth Third Bank
Vice president, community and economic development lending and investment manager Fifth Third Bank
Senior vice president, group manager Wintrust Bank
In the Commercial Lending Department, Bernard Bartilad supports privately owned middle-market companies with revenue from $10 million to $500 million, as well as nonprofits in social services, affordable housing, health care and education. His team’s portfolio has more than $275 million in outstanding loans and more than $500 million in deposits. Bartilad was previously a senior vice president at MB Financial, which was acquired by Fifth Third last year. Bartilad started the bank’s LGBTQ initiative in 2011 and is now co-chair of the Fifth Third Chicago LGBT+ business resource group. He’s a member of the Chicago Community Trust LGBT Fund steering committee and is a former board member of the Center on Halsted. He’s a member of the Philippine American Chamber of Commerce of Greater Chicago.
Eva Brown joined Fifth Third last year and is responsible for developing strategy to increase the bank’s lending and investments in low- to moderate-income and historically underserved areas. This year she worked with community lenders to help nonprofits access SBA Paycheck Protection Program loans. In her previous position as vice president and regional community development manager at U.S. Bank, Brown negotiated and executed a multiyear, multimillion-dollar investment in the Pullman Community Center. U.S. Bank invested $100 million in the Pullman neighborhood as of 2019, resulting in 1,200 new jobs. She oversaw a team of managers covering seven states. Brown served as director of access to capital, managing the loan program for the Women’s Business Development Center. She is on Fifth Third’s African American business resource group leadership team.
At Wintrust, Carlos R. Cardenas manages a team responsible for a $300 million client-credit portfolio with 120 private and closely held middle-market companies. Over the past four years, Cardenas’ teams have generated more than $480 million in loan commitments, $280 million in deposits, $4 million in fee generation and more than 100 new relationships. Cardenas joined Wintrust in April 2013 and quickly assimilated as a team lead and division manager. Previously, he was senior vice president and group manager in commercial banking at FirstMerit Bank, helping establish its presence in the Chicago market before its acquisition by Huntington Bank. Earlier, he held positions at First Bank and JPMorgan Chase. He is board chair of the National Museum of Mexican Art.
MEGABANKS FALL SHORT ON DIVERSITY Data released in August 2019 by the U.S. House Committee on Financial Services reveals that diversity and inclusion efforts in the finance industry are lagging.
17 percent
of the members of boards at megabanks are minorities, while 29 percent are women. In the U.S. population, 40 percent are minorities and 50 percent are women.
No
CEOs at megabanks were women or minorities. Of the senior leadership at megabanks, 24 percent are women and 25 percent are minorities.
Less than 1 percent
of megabanks’ spending is with diverse asset managers and suppliers. Four percent of externally managed assets go to diverse firms.
Data is from eight megabanks: Bank of America, Bank of New York Mellon, Citigroup, Goldman Sachs Group, JPMorgan Chase, Morgan Stanley, State Street and Wells Fargo. Source: Forbes
4 out of 8
megabanks spent more than $1 billion on diverse suppliers in 2018. Only 1 out of 25,000 employees on average are dedicated to diversity.