FI NANCIAL SERVIC ES Tom Sedoric Executive Managing Director The Sedoric Group of Steward Partners Education: University of Vermont (BA) Career history: Sedoric works with family, institutional and multigenerational investors on wealth planning and investment strategies. He has been recognized in the national financial press for years, but the greatest accomplishment, he says, is that his organization makes people’s lives better through a disciplined process that strives to improve outcomes for the better. Sedoric has had many mentors, including Rohe Pennington, Paul Volcker, Gloria Steinem, Ron Shapiro, Ian Bremmer and Dick Morse, whose pictures all hang on his office’s “mentor wall.” Biggest challenge during the pandemic: I am grateful for how well our team adapted to working virtually, serving families and growing dramatically amidst a pandemic. Most important business lesson: Surround yourself with smart, dedicated and resourceful colleagues. As my mentor Rohe Pennington used to say, “Hire good people, give them the tools they need to succeed, and get out of their way.” What keeps you up at night? Society’s under-investment in our democracy, financial literacy and basic civics education. Industry advice: It’s impossible to be a fiduciary when working for a bank. Few understand the importance of tax planning.
Bill Stone President and CEO Primary Bank Education: University of New Hampshire (BS), Southern New Hampshire University (MBA) Career history: Stone began his career in banking more than 40 years ago. He has worked for a handful of New Hampshire-based community banks and served in a variety of capacities, including in the mail room, as a teller, credit analyst, loan officer and ultimately, president and CEO. He has served as president and CEO of Primary Bank, based in Bedford, since its founding in 2015. Most important business lesson: Team members are the most valuable asset to your business. Local matters — the New Hampshire community is predominately made up of small businesses and supporting local is important. Stay true to your values. Superior service is a given. You must provide the unexpected — a lesson learned from Howard Brodsky. Biggest challenge during the pandemic: Protecting the health of our team members while continuing to serve our clients. As many companies did, we pulled together, and by remaining flexible and creative, we were able to successfully service both existing and new clients without much disruption. Industry advice: Set a mission for your business that addresses and serves a need within your marketplace and remain true to that mission.
34 New Hampshire 200 | 2022 edition
Ken Sheldon State President Bank of America Education: Babson College (BS), Bentley College (MBA) Career history: Sheldon has worked in commercial banking since 1983, with nearly 32 years at Bank of America. He was elevated to the position of state president in 2011, working across the region to connect Bank of America’s business lines to deliver integrated financial services to individuals, families and businesses. Sheldon enjoys working with his colleagues in the private bank, consumer, commercial and investment banking areas to deliver the power of Bank of America for the benefit of the local economy and community. Most important business lesson: Character counts – there’s nothing like adversity to test one’s character. Be honest. Be fair. What has you most excited about your industry’s future? The investment in technology will make the industry more convenient, efficient and safer. I’m also excited about helping to implement Bank of America’s 5-year $1.25 billion commitment to social justice and economic opportunity locally. What keeps you up at night? Recessions and cybersecurity. Bucket list item: Tour Switzerland. Industry advice: The economy and banking are cyclical. Build your customer relationships for good times and for the tougher times.
Gregg Tewksbury President and CEO New Hampshire Mutual Bancorp Education: University of New Hampshire (BS) Career history: Tewksbury spent nearly 10 years in the ‘90s with CFX Corporation, followed by seven years as Merriam-Graves Corporation’s CFO and 12 years leading Savings Bank of Walpole (SBW) as CEO. When SBW joined forces with NH Mutual Bancorp in 2018, he joined NHMB as CEO. Most important business lesson: The success of your company is due to the aggregate work of many rather than the few at the top. It’s important to give credit for success to others and accept the responsibility of failure. What has you most excited about your company’s future? Our company is the composite of a holding company — three mutual banks and a wealth management company that solely exists for the economic well-being of our customers and the communities we serve. Without shareholders, we’re excited about being laser focused on this mission. We believe we can become the most meaningful company in our state. Bucket list item: I’ve been fortunate to have been a spectator at three of the four majors in professional golf. My wife and I want to complete the cycle by attending the British Open at some point in the next few years.