The American Banker article, “Frost Bank bumps up against familiar challenge: A dearth of tech talent," quoted Russell Reynolds Associates Consultant Chris Davis on the changing talent needs of banks. The article is excerpted below.
Cullen/Frost Bankers in San Antonio has been steadily hiring retail bankers as part of its Houston
expansion, but it’s having a harder time filling technology roles closer to its headquarters.
In a follow-up call with American Banker, Green attributed some of the difficulty to a general
shortage of labor. With unemployment as low as it is, most industries are having difficulty finding
talent, whether it’s in banking or health care or construction, he said.
Banks’ needs are also changing, said Chris Davis, co-head of Russell Reynolds Associates’ fintech
practice. Banks used to look for employees with more traditional IT experience, but now they’re
looking for people skilled in emerging technologies, like artificial intelligence and cloud computing.
“That very, very up-to-the minute type of emerging technology experience and skill set is in high
demand and short supply,” he said.
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