Pete Yuan, in his role as president of IberiaBank’s Arkansas region, also is responsible for the bank’s title business, operated under Lender’s Title, United Title and American Abstract.
Yuan, who has 28 years of experience in the financial services industry, began his career in 1987 with NationsBank in Dallas and went on to serve a number of banks. In 2005, he joined IberiaBank as president of its headquarters market in Lafayette. In 2010, Yuan moved to Little Rock to assume responsibility for the company’s Arkansas markets and title company. He serves on the boards of a number of area organizations and nonprofits, including the Little Rock Regional Chamber of Commerce.
Yuan is a 1986 graduate of the University of Texas at Arlington with a BBA in finance. He’s a recipient of the university’s Outstanding Alumni Award, given by the school’s Finance Society.
The post-2008 regulatory environment continues to evolve in the world of finance. What are the most significant changes that have arrived or are on the way?
By far the most significant change has been the Dodd-Frank legislation. Much has already been said and written about this topic, so I will not get into it again. What I will say is this legislation has fundamentally changed the banking industry, and not all of that change has resulted in benefits for the consumer. The next biggest challenges for banks are related to new accounting rules that are coming over the next few years.
IberiaBank became a player in Arkansas through tandem acquisitions in early 2007. What are some highlights since entering the market?
Arkansas was the first market we entered outside of Louisiana. Since that time, we have steadily grown our presence in each of the markets we serve in the state — central, northeast and northwest Arkansas. What I am most pleased with is the way in which we have conducted our business. We do not follow the crowd and work very hard to take care of the clients we want to bank. Today, Arkansas is a strong contributor to our company and in many performance metrics is the leader within our company’s peer markets. Our employees across Arkansas made this possible, and I am very proud of their efforts.
If you could change one thing about the banking business, what would it be?
The regulatory environment in which banks operate today is the toughest I have seen in my career. The financial crises several years ago confirmed that more regulation was indeed needed in our industry, but this oversight has now evolved to the point where it is hindering the way well-run banks do business.
On a lighter note, another change would be in the public’s perception that bankers keep “banker’s hours.” I chuckle every time I hear it.
How would you describe the corporate culture or personality of IberiaBank?
I am pretty proud of our culture. Our long record of success (our company is 128 years old) has been based on an entrepreneurial approach in which decisions are largely made at the local market level. We believe this allows us to remain nimble and make smarter decisions. We are also a very community-centric company that cares deeply about the communities in which we do business. The consistency with which we have retained this culture has enabled us to attract both quality clients and top banker talent.
Mistakes are said to deliver some of the most meaningful lessons. What was your most important business mistake?
Thinking that I am the smartest person in the room. I have learned through my career that there are always multiple perspectives to everything. My job requires me to make good decisions. To do this well, it is important to not be overly confident in my own opinions.