Josephine Moran enjoyed a successful career as a fashion marketing and merchandising executive in New York for a decade after graduating from the Fashion Institute of Technology with a marketing and management degree, running multiple stores in her 20s and working for Macy’s on Seventh Avenue. But her career trajectory changed after the birth of her first child, and she began learning about the world of investment.
Moran switched gears, earned a master’s degree in finance and financial services from the University of New Haven (where she would also go on to earn her executive MBA) and began her banking career in Connecticut. “It’s the best decision I ever made,” says Moran, who with 24 years of banking experience, succeeded Kathy Underwood as president and CEO of Ledyard Bank in Hanover in May. Underwood retired after 17 years leading Ledyard, which American Banker Magazine ranked among the top 200 publicly traded banks and thrifts under $2 billion in assets eight times during her tenure. Underwood continues to serve on Ledyard’s board of directors.
Moran, who previously served as executive vice president at Provident Bank, joined Ledyard as president and chief banking officer in March 2022. Moran describes her leadership philosophy as a combination of transformational, servant and visionary leadership. “It’s very important to provide clear communication, have a clear path around goal setting and push people out of their comfort zone so they can achieve things they didn’t know they could achieve,” she says. “Servant leadership is having a people-first mindset. If the people that report to you feel personally and professionally fulfilled, they are more likely to go above and beyond.”
Ledyard Bank is executing a three-year strategic plan it launched in 2022 that focuses on growth. Ledyard rebranded branches as financial centers staffed with people that can assist clients with a variety of transactions and financial counseling. It is growing its wealth management division, which oversees just under $2 billion in assets, as well as its digital services. “We want to continue to expand within southern New Hampshire,” Moran says, adding the bank sees the Lakes and Seacoast regions as potential growth markets.
Current Issue - May 2024