After Silicon Valley Bank collapsed in March 2023 amid a broader banking crisis, First Citizens swooped in to acquire it.
The acquisition helped First Citizens become the 15th-largest bank in the U.S. It was recently recognized by American Banker as the
First Citizens Vice Chair Hope Holding Bryant played a key role in SVB's acquisition and integration, all while reassuring clients and depositors during a turbulent time. One of the most crucial post-acquisition actions was rebranding the former SVB's private banking unit as a part of First Citizens Wealth, which now manages over $50 billion in assets. That compares to $16.8 billion a decade ago.
The acquisition took place just a year after First Citizens completed its purchase of CIT Group, meaning Bryant's responsibilities over the past few years have expanded greatly. She leads the general bank, which includes more than 500 branches in 30 states, the business services division, the community association banking unit, SBA lending, sales finance and a wine division inherited from SVB. She oversees close to 6,000 employees, $63.7 billion of loans and leases, and more than $71 billion of deposits — close to half the bank's deposit base.
Bryant not only works at First Citizens, she also grew up with it. Her grandfather, R.P. Holding, joined the bank in 1918 and was ultimately named president and chairman. The business was later passed on to her father and uncles. Bryant's brother, Frank Holding Jr., is chairman and CEO of First Citizens BancShares and First Citizens Bank & Trust Company.
"It's very much a privilege to be part of the third generation in our family that's running our organization," Bryant said.
Bryant has held several roles at the Raleigh, North Carolina, bank since 1985, including president of the former IronStone Bank unit, which was part of an expansion into markets including the West Coast. Bryant said accepting that position was a pivotal point in her career.
"Because it was separate, it really gave me a completely different platform to learn financials, operations and sales strategy," she said. It was her uncle's vision to expand, she said, and the strategy was not well understood by everyone.
"The fact that we did it de novo, not through acquisition — we were losing a lot of money, people were scratching their heads about why would we even want to go to the West Coast," she said. "It was taking a big risk."
But, Bryant said, her previous position — expanding from consumer services to overseeing business services groups including leasing, international and treasury — prepared her for managing IronStone, which was a "paradigm shift" in her career. The IronStone brand, which had 58 branches, was dissolved into First Citizens in 2011.
Being a woman in the financial services industry has "cut both ways," Bryant said.
"I know that I received opportunities … to participate or join certain projects because they were looking for women," she said. "Having said that, there were definitely times that I didn't feel as included. Even if I were sitting around the table, you definitely felt that you were in the minority and there were things that maybe I didn't have access to."
Even her father, who was supportive of her career overall, admitted he would not have offered her the IronStone job that her uncle did. Bryant recalled that he said, "Why would I have wanted you to be spending most of your time on airplanes and away from your family?"
While challenges remain, she thinks there's a real difference in how traditional gender roles are considered today, including when it comes to company benefits, which now include paternity leave. "It's not singularly put on the woman to raise children, to deal with aging parents … there's a lot more flexibility, and the world is making that a bit easier," Bryant said.
Women executives should mentor other women as they grow in their careers because they understand the challenges, she maintained. Within First Citizens, the "Together Women" group helps drive recruitment, engagement, retention and development of women associates.
Beyond the bank, Bryant serves on several boards, including those of Southern BancShares, Fidelity Bancshares and the Ambassadors Committee for Pinehurst.
Overall, Bryant said she is "very two dimensional — most of my time is with work or with family." However, she enjoys golf, fly fishing, cooking and reading when she can.
"That's about it," she said. "That's about all I have time for."
