Old National Appoints CRO to Drive Sales Process Standardization
Event summary
- Old National Bancorp has created the role of Chief Revenue Enablement Officer (CRO).
- Joe Chasteen was appointed to this new position, bringing over 27 years of experience in business banking and enterprise leadership.
- The CRO will focus on establishing disciplined sales processes, leveraging CRM tools, and improving sales enablement.
- Chasteen will report directly to Old National President & COO Tim Burke and is based in Troy, Michigan.
- Old National Bancorp has $72 billion in assets and $37 billion in assets under management.
The big picture
Old National's creation of a Chief Revenue Enablement Officer signals a strategic shift towards formalizing and optimizing its sales processes, a common response to increased competition and the need for greater operational efficiency in the financial services sector. This move suggests a recognition that organic growth requires more than just product offerings; it demands a structured and data-driven approach to sales execution. The appointment also reflects a broader trend among regional banks to invest in specialized leadership roles to drive targeted growth initiatives.
What we're watching
- Execution Risk
- The success of this initiative hinges on Chasteen’s ability to implement standardized processes across Old National’s diverse regional operations, which could face internal resistance or logistical challenges.
- CRM Integration
- The effectiveness of the CRO’s efforts will be directly tied to the successful integration and utilization of CRM tools, requiring investment and employee training to maximize impact.
- Growth Impact
- The extent to which this new role translates into measurable organic revenue growth will be a key indicator of the strategy's value and potential for broader adoption within the organization.
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