When Nandita Bakhshi took a job as a part-time bank teller in 1986, she found an environment far removed from today's.
"The expectation for anyone who didn't fit expectations was to conform as best we could to a very narrow definition of 'professionalism,' " said Bakhshi, who took the teller job after moving from India to the U.S. to support her husband's academic career. "Times have changed."
Bakhshi has been a leading force behind those changes as she steadily climbed the ranks. Today, as president and CEO of Bank of the West, the San Francisco-based U.S. banking arm of BNP Paribas, she has made a workplace that calls for collaboration and consensus-building rather than conformity.
"Today's leadership requires an unprecedented level of engagement with our employees, and more specifically our own impact on them," said Bakhshi, who has led the $104.8 billion-asset company since 2016. "I call this empathetic leadership, and this leadership style is what I harnessed to transform Bank of the West over the past few years."
That transformation helped set Bank of the West on a course that led this year to its proposed acquisition by BMO Harris. Announced in late 2021, the $16.3 billion deal is expected to close by the end of 2022 and double BMO's retail footprint in the U.S.
European banks have faced stiff competition and growth challenges in the U.S. Nonetheless, Bakhshi, who also is co-chief executive of BNP Paribas USA, said she was proud of what she and her team have accomplished at Bank of the West.
"BMO was attracted to what we have built: a growing, profitable bank with a distinctive brand and a commitment to positive banking that is attracting and retaining top talent," she said.
The bank's achievements in 2021 include record earnings of $974.5 million, a 10.5% increase in total average customer deposits and launch of a new cash management platform that provides a one-stop shop for companies looking to manage cash flow.
Bank of the West also delivered ahead of schedule on a five-year goal it set in 2018 to originate $1 billion in financing for renewable and clean sources of energy, an effort Bakhshi said helped the company win business from outdoor and climate-focused companies and nonprofits.
In February, Bank of the West partnered with Mastercard to create a program called Digital Doors to steer small-business owners to build and maintain a secure online presence.
Inside the bank, Bakhshi has emphasized an inclusive culture that earned her a spot on the Top 100 LGBT Executive Allies list from LGBT Great, an organization that advises the financial services industry on LGBT issues. The bank also earned a perfect score on the Human Rights Campaign Foundation's corporate equality index.
"To me, it's confirmation that our employees feel empowered to bring their authentic selves to work, and confirmation that our business is supporting our people," Bakhshi said.
Bakhshi is using her position as a top executive to amplify the voices of other businesswomen. In December 2021, Bank of the West launched a podcast series called Means & Matters to showcase women business owners including Bank of the West customer Hannalee Pervan, head chef and owner of One House Bakery in Benicia, California, who lost her sense of taste and smell during the pandemic.
Bakhshi is on the board of Grameen America, which helps women living in poverty build businesses. Her other external roles include seats on the Federal Advisory Council of the Federal Reserve and the board of the U.S. Strategic Partnership Forum.
BNP Paribas has said it expects to continue offering corporate and institutional banking in the U.S. after it closes on the sale of Bank of the West. Whatever her role down the road, Bakhshi said she plans to continue focusing on the priorities that have defined her tenure at the company.
"Whether it's advancing sustainability, fostering more diversity and inclusion in all levels of the industry, or advancing the financial empowerment of women, there is tremendous work to be done," she said. "This is a journey I am still on."
