Today’s banking landscape is marked by consolidation, digitization, and shifting workforce expectations. The ability to lead effectively has never been more critical.
Lori Maley and Keith Costello, two respected industry veterans, bring decades of experience turning around institutions, mentoring talent and shaping bank cultures that last. Guiding these two industry experts through this discussion is Brian Love, Head of Banking and Fintech, Travillian.
The result is a candid, insightful exchange on what it takes to succeed as a leader in banking today. Their foundational message? It starts—and ends—with people.
Culture and Talent: The Foundation of Banking Success
“For me, talent is the number one issue,” says Lori Maley, (CEO of Bank of Bird in Hand, Pa.) with the kind of clarity that comes from years in the trenches. “Whether it’s building a team, retaining people, or attracting new folks, it all goes back to culture. You can’t fake culture. If you try, people see through it.”
Why Authenticity in Culture Matters for Talent
Maley’s approach is grounded in the belief that culture must be real and lived. It’s not something that gets rolled out in a PowerPoint presentation or slapped on a breakroom poster. “People know when it’s authentic,” she says. “They can also tell when it’s not. That’s where banks lose good people—they talk about values, but they don’t live them.”
Attracting the Next Generation: Evolving Your Bank’s Culture
Keith Costello (CEO, Locality Bank, Fort Lauderdale, Fla.) adds that the culture challenge isn’t just about internal alignment—it’s also about bringing the right people into the industry. “We all know that people don’t quit jobs; they quit people,” he says. “That’s even more important when you’re trying to attract talent into the industry. Banking has to become attractive again, and that’s on us as leaders.”
He notes that the generational shift now underway demands that banks evolve their cultures, not just their business models. “The old guard is going to be retired or retiring soon, and we’re going to have a new generation that doesn’t always want to sit behind a desk in an office from 9 to 5. We need to create environments where people see purpose, flexibility, and opportunity.”
Maley agrees and pointed to the importance of alignment in recruitment. “I always start with values. If somebody’s values don’t align with your organization, then it’s not going to work. That’s true whether you’re hiring a branch manager or a CFO.”
Still, she’s realistic. “Nobody walks in perfect. You look for people with the right mindset. If they’re missing some core competencies, but they have the right attitude and values, you can train them. But you can’t teach character.”
Banking Strategies: Listen First, Then Lead
Both Maley and Costello have built reputations as leaders who can step into difficult situations and steer institutions back to health. And both say the work starts—not with bold directives—but with quiet observation.
The Power of Listening in Bank Turnarounds
“You have to spend time getting to know people,” Maley says of her approach to turnarounds. “You don’t come in swinging. You come in listening. That’s how you find the few stars who are already doing great work. You let them shine. And you figure out who’s dragging everyone down—sometimes that’s someone in leadership.”
Costello shares a similar philosophy. “The first thing I do when I walk into a tough situation is shut up and listen. You can’t walk in and pretend you have all the answers. The people inside the organization already know what’s broken. Your job is to help them fix it.”
That means asking better questions, not giving better orders. “You’re not the smartest person in the room, and you shouldn’t pretend to be,” Costello says. “If you’re humble enough to listen, you’ll earn trust. That trust is your real leverage. Without it, you’re just barking into the wind.”
Removing Barriers & Addressing Toxic Behavior in Banking
For Maley, the turnaround process is also about removing barriers to success. “A lot of times, good people are stuck in bad systems. If you clear the roadblocks, you give them the chance to thrive.”
And what about the people who don’t fit?
“There’s no room for toxic,” Maley says bluntly. “That doesn’t mean everyone has to be the same. But if someone is undermining the team, disrespecting others, or protecting their own turf at the expense of the mission, they have to go. One person like that can kill momentum.”
Developing Future Banking Leaders
Costello speaks with passion about the importance of leadership and mentorship, especially in a profession that has long relied on apprenticeship models. “There’s a huge difference between being a boss and being a leader,” he says. “A boss gives orders. A leader builds trust, inspires people, and helps them grow—even when it’s hard.”
He believes many senior bankers underestimate how visible they are to junior employees. “People watch what you say, what you do, how you show up. If you’re not walking the floor, having real conversations, remembering people’s names and birthdays—you’re missing the whole point.”
Maley echoes that leadership is not about hierarchy—it’s about modeling. “You can’t ask for accountability if you don’t model it. You can’t expect commitment if you don’t give it. You have to go first.”
Mentorship, they agreed, is essential for developing the next generation of leaders. But it can’t be transactional. “It’s not about checking a box,” Costello says. “It’s about pouring into someone’s career. Being a sounding board. Sharing your mistakes. That’s how people grow.”
Maley adds: “I tell people all the time—your job is to create more leaders, not more followers. If you’re doing it right, you should be working yourself out of a job.”
Advice for Bankers at All Career Stages
When asked what advice they’d offer to bankers earlier in their careers, Maley and Costello focused on personal development and relationships.
“Be curious,” says Costello. “Ask questions, take notes, listen more than you speak. Don’t chase titles—chase competence. Learn the business inside and out, from the ground up.”
Maley emphasizes resilience. “There will be setbacks. That’s part of the deal. But if you’re clear on your values and you surround yourself with good people, you’ll get through it.”
He also encouraged younger professionals not to underestimate their influence. “You don’t have to wait until you’re a senior VP to lead. Leadership is about how you treat others, how you handle adversity, and how much ownership you take.”
To senior leaders, Costello gives a simple charge: “Take the time to know your people. Help them win. If you do that, they’ll run through walls for you. And they’ll stay.”
Banking: A Relationship Business Driven by Trust
Despite their differing styles, Maley and Costello share a deep belief that banking is still, at its core, about relationships.
“We’ve got to get back to being relationship-driven,” says Maley. “Too much focus has gone to transactions, and not enough on the people behind them—clients and employees.”
Costello offers, “Technology is important, but it’s not a replacement for trust. Our clients want to know they matter. Our employees want to feel heard and supported. We’ve got to deliver both.”
The takeaway from all this commentary? Stay grounded. “If you focus on culture, values, and your people,” Maley says, “the results tend to take care of themselves.”
“You Can’t Fake Culture” – The Foundation of Authentic Banking Leadership
For bankers navigating a fast-changing industry, the insights of Maley and Costello offer a valuable compass. In their observations are reminders that success doesn’t come from strategy alone—it comes from people, from trust, and from the daily choices leaders make to do right by others.
“You can’t fake culture,” Maley says again in closing. “And if you get it right, you won’t need to.”
The complete version of this interview with Maley, Costello and Brian Love can be found at Travillian Next.
