After seven years of leading Bank of the West, Nandita Bakhshi took on a new role this year.
She is now special advisor to BMO Financial Group, the Montreal-based bank that bought Bank of the West from its former parent, Paris-based BNP Paribas, in February. The merger dramatically expanded BMO's footprint in the U.S. The bank now has more than 1,000 branches in 32 states.
Mergers, especially those as large as the one uniting BMO and Bank of the West, can be distracting. But Bakhshi is helping to ensure the transition is a smooth one. Her mission is to help BMO become what she describes as "a North American banking powerhouse." In day-to-day terms, it often means reassuring employees, customers and communities that the change from Bank of the West to BMO will be a positive one for them.
"These opportunities for connection have been tremendously valuable," Bakhshi said. "Especially during times of uncertainty, sharing information and reassuring employees and community stakeholders of their influence makes a huge difference in maintaining morale, trust and business growth."
In many ways, her new role is a continuation of her work leading up to the merger.
During that time, she launched a program to familiarize employees with BMO by sharing publicly available information, introducing them to BMO's culture and purpose, meeting with employees more frequently and hosting monthly meetings with bank leaders to discuss transition-related updates. One of these leadership meetings was dedicated entirely to addressing misconceptions about the deal.
On the business side, Bakhshi continued to attend client events and worked directly with the bank's sales teams to ensure their focus was on growth. While bank acquisitions often result in lost customers, Bakhshi said Bank of the West increased its total customers by 3% year over year and beat its forecast for loan amounts.
The efforts culminated in an all-leadership conference in Los Angeles, where executives paused to celebrate their accomplishments and prepare for becoming part of BMO.
"It served as a powerful testament to our collective dedication and enthusiasm as we prepared for the next chapter," said Bakhshi.
Bakhshi plans to continue as a special advisor through the end of the year, and she will remain a member of BMO's U.S. board of directors.
She also plans to continue sharing her career experience, which began in 1986 with a part-time job as a bank teller after emigrating to the U.S. from India. She still recalls the skepticism that greeted her ascension to the top job at Bank of the West.
Through her nonprofit board roles, she is focused on ensuring women and underserved communities have access to capital. She is a board member for The Clearing House, the U.S. India Strategic Partnership Forum and Grameen America, which assists women living in poverty to build businesses.
"I've devoted my career to inclusive, transformational leadership and I'm particularly passionate about advancing women," Bakhshi said. "I intend to continue to lead in these areas."
