Q+A: MEGAN ACKAERT:

Bank exec: Hire good people and empower them

Megan Ackaert in her office in Las Vegas, Nev. on June 2, 2017.

Megan Ackaert recently moved from Seattle to Las Vegas to lead JPMorgan Chase’s middle market banking and specialized industries business in Nevada. “As the local economy continues to grow and diversify, it’s an exciting time for the firm to have recently opened its first commercial banking office here,” she said. The bank has added two commercial bankers to the team and is looking to recruit additional talent.

What does your group do within the company?

We provide banking services to companies with more than $20 million in annual revenue. My team works with business owners and management teams to provide financial expertise and customized solutions that support their business objectives. This includes providing lines of credit for working capital needs, equipment financing, acquisition financing, owner-occupied real estate lending, cash management and deposit services. We also work with companies to support their international and capital markets needs.

What is your responsibility?

My primary role is to lead the team of commercial bankers to develop relationships with the business community. I recently joined the United Way of Southern Nevada’s Women’s Leadership Council, which has been an amazing way to get to know the philanthropic community in Las Vegas. JPMorgan Chase also has a long history of working with Accion. They have been excellent partners to us and I am grateful for the work they do in financing small business owners’ dreams. I am also meeting with community leaders and legislators to learn about what is happening in Las Vegas so I can better understand our clients’ environment.

Describe your management style.

If you hire the right team of people, you should empower them to do their jobs and only jump in when needed. We are building a devoted team of bankers in Las Vegas. They are proud locals with strong ties to the community. They are self-starters and relationship builders, and have tremendous banking knowledge. All of this allows me to support rather than “manage” them.

What is the best business advice you’ve received?

Be fearless. I meet with business owners for a living and have so much respect for someone with a great idea who figures out how to build a business from it. I don’t have the guts to be an entrepreneur but I enjoy learning how business owners got started and where they want to go. In many cases, a business was born when an individual received help from someone who took a chance on their idea. As a banker, I have the opportunity to help companies realize their vision.

How do Seattle and Las Vegas differ in commercial banking?

The biggest difference is the types of industries in the two cities. Seattle is both a manufacturing city and a technology hub. Las Vegas is hospitality focused. Both cities are seeing major growth, increased populations, and opportunities for expansion. The optimism and excitement in Las Vegas is contagious.

What has been your proudest moment professionally?

The days where I can answer a question or solve a problem are the most rewarding. We are in a competitive service business and I never forget that. My job is to be a financial partner to my clients, sharing their vision and enthusiasm, and each day I get to do that makes me proud and really happy.

What do you look forward to the most about living and working in Las Vegas?

The people here have been so welcoming and friendly. I’m looking forward to making new friendships, enjoying all of the outdoor activities Las Vegas has to offer and figuring out how to make an impact in my new community. The sunshine is an added bonus.

What’s your favorite place to have fun in Las Vegas?

My husband and I have been trying as many restaurants as time and our stomachs allow. We love trying new chefs and cuisines. I also enjoy the outdoors, so spending time on my bike and hiking are priorities.

What is your dream job outside of your current field?

I would love to go to culinary school. My grandmother emigrated from Belgium and was a wonderful cook. She made the most amazing croquettes and homemade soups from scratch. I try to make dinner as often as possible using new recipes. I find cooking relaxing and I enjoy sharing new dishes with friends and family. I know being a great chef is difficult, but I’d sure like to give it a try one day when I have more time.

If you could live anywhere else in the world, where would it be?

My husband and I are avid international travelers. I have been to more than 30 countries. I think I would enjoy living in Singapore or Hong Kong — probably not forever, but for a few years just to enjoy the culture and food.

Whom do you admire?

One of the first commercial bankers I worked with in Seattle taught me the ropes and I admire her intelligence and caring approach. She builds close relationships with her clients and cares so much about their success. She is passionate about her work but remembers to prioritize her family. She always chooses to do the right thing even when it isn’t easy. She also is an extremely hard worker but never lets the stress get to her, always maintaining a professional attitude.

I often think of her when I am in a tough situation and try to conduct myself in a way that she would be proud of.

What is your biggest pet peeve?

When people are late and don’t seem apologetic about it. I understand that sometimes life gets in the way and tardiness happens, but send a text.

If you could change one thing about yourself, what would it be?

I really wish I was musically inclined. I cannot sing, play guitar or even keep a tune. I think this is where my love of live music comes from. I am so impressed by people who have those skills. I enjoy all kinds of music and can sit and get lost in a song for hours.

What is something that people might not know about you?

I am an avid reader of historical fiction. I particularly love reading about the 1400s and 1500s in England. The drama, changes, and ideals of that time period are so fascinating to me.

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