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 Wachovia president finds balance between family and career
By Kristen Poland, Staff Writer
A teenage musing turned out to be a bit of serendipity that changed Rick Redden’s life. As he was driving down U.S. Highway 17 in Mount Pleasant one day in 1987, Redden noticed a recently built bank and decided—out of the blue—that banking sounded like a good career.
“I never would have dreamed that 20 years from that sort-of epiphany I would be president of the biggest bank in the state. The funny thing is that the day before I wanted to be a rock star,” said Redden, who accepted the position of president of South Carolina for Wachovia Bank in August.
Redden began working for Wachovia in 1993 after graduating from Appalachian State University with a bachelor’s degree in business and from Georgia Institute of Technology with a master’s in business administration. Redden began his career in Winston-Salem and then moved back to Charleston in 1996 to be close to family. While Redden’s demeanor and professionalism indicate a passion for his career and for his company, the photos situated on his bookshelf tell a different story—snapshots of boating, Disney World and other family excursions reveal Redden’s passion for his family.
“I don’t mind sacrificing sleep and coming into work at 4:30 or 5 a.m. so that I can get home to enjoy evenings with my kids,” Redden said. “Last night we played Junior Pictionary.”
Those close bonds with both his family—wife Angela and two children, 9-year-old Forrest and 6-year-old Merritt—and their extended family spills over into Redden’s business practices. He prides himself on his ability to develop a mutual trust and an open and honest relationship with both clients and employees.
“In banking, you get to touch all sorts of industries and you get to meet a lot of people. You get to be part of the things that shape people’s lives and shape companies,” Redden said. “Looking people in the eye and building a level of trust is part of the high standard of excellence I set for myself.”
As president of South Carolina for Wachovia Bank, Redden is responsible for leading the bank’s broad sales, service and growth strategies, as well as its community involvement activities throughout the state. In his 14 years with Wachovia, Redden has held several leadership positions, including Carolinas risk director, coastal corporate banking manager, Palmetto commercial banking manager and chief risk officer for South Carolina.
A big part of Redden’s leadership philosophy is ensuring his employees are satisfied and enjoying their jobs. He feels it is important to be honest and candid with his employees and to be up front with expectations he has for them. Employees have a chance to vocalize their opinions through surveys and at team-building excursions.
“I make sure my employees are energized and having fun, and if they know what is expected of them, they’ll be happy,” Redden said. “If you take care of your employees, they’ll take care of the customers.”
Under his leadership, Redden says Wachovia is thriving amid an industry-wide slump. He thinks his own leadership skills and those of his employees are key factors in that success. Staying energized and taking advantage of any available opportunity is important, as well as morphing products and services to cater to the times.
“The industry is so dynamic. If you don’t try to keep moving, expanding, changing, you’re going to fail,” Redden said. “I love to compete and win big. I get really excited about what I do.”
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