Richard Lehmann
Founder and chairman
The Biltmore Bank of Arizona
biltmorebankaz.com
“After being associated with large national and international banks since 1969, myself and other banking leaders founded the Biltmore Bank of Arizona in 2003 with a singular mission: to work with Arizona businesses face-to-face, ensuring we’re an integral part of each client’s growth – and the growth of Arizona’s economy.”
Biggest challenge: “In my 44 years in banking, I have never experienced a more severe economic downturn than the past five years – with a disproportionate impact on small, community banks. We overcame it thanks to our team, clients and a 2012 agreement with Grandpoint Capital for a capital investment, enabling us to expand our banking capabilities.”
Best advice received: “Always try to hire people who are smarter than you; and always pay attention to the details. After all, the devil is in those details.”
Best advice to offer: “Once you hire those smart people noted above, you must be smart in the way you treat and motivate them. Use care. Be respectful. Encourage teamwork. To be a successful leader, you must recognize that a business won’t prosper long term solely based on individual success, but on the team.”
Biggest accomplishment: “Through the late 80s/early 90’s, I helped lead the turnaround of Valley National Bank. All these years later, I am most proud that I have been able to use the tools I learned during that turnaround to ensure the long-term viability of the Biltmore Bank, despite this recent economic downturn.”
