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Brad Anderson's Lunch Break / s9 e3 / Anil Cheriyan, EVP/CIO, SunTrust Banks - YouTube
Channel: Microsoft
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- It's lunchtime, and this is
Brad Anderson's Lunch Break.
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Here in Redmond, we're visited by
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some of the smartest people on the planet,
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Pretty much everyday. Every chance I get,
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I meet up with them for lunch.
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(upbeat music)
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In today's episode, I meet
up with Anil Cheriyan,
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the CIO of SunTrust Banks.
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(light piano music)
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Alright, so people who don't live
in the Eastern United States,
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well, SunTrust, you guys are a huge bank.
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- We're about 220 billion in assets.
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So you got the top four
banks, guys like B of A
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and JPMorgan, Wells Fargo, and Citi.
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And then you got the six of
us who are like the next set,
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and we're one of the next set of banks.
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- Yeah, you're spread across 11 states,
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1,400 different locations
if I remember right.
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24,000 employees, I mean you guys are big.
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So, one of the things
that I recently learned
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about SunTrust, is that your name
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is on the new stadium in Atlanta.
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- That is true.
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- But you also have a long-term
relationship with Coca-Cola.
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- Yup, yup.
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- In 1919, the president of
the bank bought Coca-Cola
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for 25 million dollars.
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So the original secret
formula of Coca-Cola
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was kept in SunTrust
vaults from 1925 to 2011.
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What did you think when you realized
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that the formula was gone?
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(laughs)
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- So great organizations have become great
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because they have found
ways to get the best ideas
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out of their people.
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So, how do you use creativity at SunTrust
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to really get the best
out of your workforce?
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- It's a really a big culture change
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that we have to go through.
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- When I first got there,
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it was about five or six years ago.
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Everyone worked in their
silos and they did their jobs.
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They did them pretty well,
in fact, one had a lot
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of these town hall meetings
and lunch and learns
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and conversations with teammates.
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And they'd say,
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hey, can you help us with that other team,
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'cause they're not doing what
we're supposed to be doing.
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- Yeah, I've never had this
conversation at Microsoft.
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- But do you realize guys, you
guys are on the same floor,
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and you literally can
just walk across the floor
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and have those conversations.
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- As Satya has driven kind of
the same exact culture change
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that you're describing.
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Breaking down the silos,
everybody working together.
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This growth mindset, one of
the biggest challenges we had
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was our review model had
basically made people
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nervous to ever fail.
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And in a growth mindset,
you want to be able
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to identify a hypothesis, test it quickly,
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and if you're doing it right,
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70% or 80% of your hypothesis
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are not gonna be right or correct.
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And so, getting the cultural
change to understand
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that it's okay to not be right,
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but we're on this learning journey.
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That was actually one
of the biggest changes
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that we had to do at Microsoft.
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- I really like that.
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Moving from, what's it,
know-it-all to learn-it-all.
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That's just a phenomenal,
that's just a great idea.
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- Okay, I'm gonna give
you three product ideas,
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and you're gonna tell me if you would want
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to invest in them, if you
want to compete against them,
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or sue because it's too close to something
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you're already working on.
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- Okay.
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- Alright, first, a mobile
banking app that bricks
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your phone for three hours if
you go over that day's budget.
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- I would...
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invest.
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(bell dings)
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While that's interesting,
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that whole premise is interesting,
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the very fact that they are
looking at budget and planning
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- Is a good thing
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- That is a good thing.
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Now, I wouldn't shut down the phone
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But I'd certainly use that--
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- That is a little harsh.
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- But I'd certainly use that as--
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- Maybe shock 'em a little bit.
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- A little buzz.
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(laughs)
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- Alright, next one.
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An ATM that saves users embarrassment
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by making it sound like
money is coming out,
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even if there's insufficient funds.
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- No that's not
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(laughs)
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I wouldn't invest in that one either.
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(buzzer sound)
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- An app that monitors
your checking account,
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and only suggests restaurants
that are in your price range.
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- That's a good one.
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That's budgeting and planning.
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- That'd be an investment.
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- That's an investment.
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(bell dings)
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- As a banker, what's your
stance on the two dollar bill?
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(laughs)
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- Another fraudulent thing.
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- Next time on Brad
Anderson's Lunch Break,
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- You're part of the change,
and if you can't articulate
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where that change is gonna mean,
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what that change is gonna mean
from a business standpoint,
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you really don't belong
on it, on the team.
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- You have three degrees from
Imperial College in London.
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- I know I have spent
a long time in college.
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- So one of those is in philosophy.
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So, here's my question for you.
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Why are we all here?
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- I have no idea.
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(laughs)
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