Winning is getting easier: management describes the effort needed to land each new piece of business visibly falling, wi
The model's full reasoning — Q1 2024 call → NOWe need to determine if management conveys that winning business has become easier than in the past, with real recent proof, and still in effect. Looking at the transcript, Kevin Blair discusses growth in various areas. He mentions "Grow the Bank initiative continued to gain traction" and lists specific wins: new GreenSky program, expanded middle-market banker team, largest CIB pipeline, new relationships from business owner wealth strategy, etc. He also says "we are excited to introduce a differentiated new solution called Accelerate Pay" and that pipeline has been building. But does he explicitly compare to the company's own past? He says "Our longstanding well-positioned core businesses continue to drive growth through a value relationship approach, allowing us to invest in new sources of revenue and future growth." That's not a direct comparison of ease. Later, in response to a question about winning business, Kevin says: "Not only winning customers, we start with winning talent. And so, you look at those areas that we highlighted strategic growth initiatives, middle-market over the last three years, we've increased our bankers by roughly 50% and those bankers are continuing to win new business, business from the institutions they've come from as well as just prospecting efforts. And so, the growth in middle-market, both on the loan and deposit side is coming from that new talent and from new clients. On the CIB front, we have 24 FTEs. We're up to right around $725 million in loan outstandings, another $50 million of growth this quarter, six new clients we've onboarded this year. And so that's coming from brand-new relationships and expanding existing relationships. Our specialty lending area, both for our lender finance as well as our restaurant services, again, new clients, expanding existing relationships. So in every situation, not only are we winning talent, we are winning the competitive war of taking clients from other folks. So that's the game. As I said earlier, we have a great marketplace, but if you think rising tides raise all boats, then you're missing an opportunity.
| Ticker | Company | Call | Date | Call grade |
|---|---|---|---|---|
| NICE | NICE Ltd. | Q4 2023 | 2024-02-22 | B+ |
| ACGL | Arch Capital Group Ltd. | Q4 2023 | 2024-02-15 | B+ |
| VRNS | Varonis Systems, Inc. | Q2 2016 | 2016-08-09 | B+ |
| ACCO | ACCO Brands Corporation | Q1 2016 | 2016-04-27 | B+ |
ACCO · Q1 2016 → YESThe question is: Does management convey that IT HAS RECENTLY BECOME EASIER FOR THE COMPANY TO WIN BUSINESS THAN IT USED TO BE, based on real recent wins, and still in effect. YES The transcript shows management conveying that winning business has become easier than in the company's recent past. Boris Elisman states that customers have seen the value of the company's strong brands during the past couple of seasons, resulting in broader and deeper penetration in mass retailers and continued share gains.
NICE · Q4 2023 → YESThe question is: Does management convey that IT HAS RECENTLY BECOME EASIER FOR THE COMPANY TO WIN BUSINESS THAN IT USED TO BE, grounded in real business won recently, and still in effect.
VRNS · Q2 2016 → YESThe question is whether management conveys that it has recently become easier for the company to win business than it used to be, grounded in real recent wins, and still in effect.