With offices in the western suburbs of Chicago, Gnodde Associates has been providing high quality recruitment services for Chicago based banking and financial services companies for over two decades. Since hanging out the shingle and turning on the lights in 1991 our business has evolved and changed, just as the national and local banking scene has changed. At one time a large part of our business was with the loan production offices and branches of out of state and foreign banks, most of which have since closed. For example, in the early 90’s there were five Australian banks, and an even larger number of Japanese banks that had offices in the Loop.
With the global economic shifts of the 1990’s came widespread consolidation of banks both in the U.S and abroad, which resulted in the end of the Loan Production Office phenomenon. With this decline in LPO banking came several acquisitions by larger regional and national banks with plans to prosper by tapping into the very fragmented Chicagoland market. In contrast to the LPO approach, their’s would be a dual strategy of commercial and retail banking. Today we have eight branch bank networks dotting the landscape and carrying the names of $100B plus institutions, six of whose logos were not seen two decades ago.
An unexpected result of this invasion has been the stepped-up and more crowded battle among the so-called second tier banks, which also provide retail products, but on the commercial side focus more narrowly on serving small to middle market clients. Even before the day a proud Chicago bank bearing the name of a famous street ceased to exist, the race to acquire bankers and customers from the bigger, newer out of state brand names had started. Today there are seven banks with assets in the $8B - $25B in this competition, one of which is new to the market, and another which has been completely transformed.
The third significant trend witnessed by Gnodde Associates over the last two decades has been the decline in community banking. In 1990 there were scores of bank names in Illinois that no longer exist today. Prior to 2009 this was mostly due to consolidation caused by one healthy bank acquiring another. And even while this consolidation was spawning the formation of new bank charters, the overall number of independent banks was decreasing. Since 2009, when our entire banking system nearly collapsed, at least 30 local banks have been shut down and taken over, while the number of new charters can be counted on one hand, minus a thumb.
During this entire period of change, however, the focus of Gnodde Associates has remained on Chicago. Whether working with the previous LPO’s, the former and still existing Chicago brand names, the large regional and national names, the competitive second tier, or the surviving community banks, throughout the years our clients have engaged us to find local talent for local positions. On occasions our work has taken Gnodde Associates to neighboring states, and, through our network of affiliated search firms we have also made placements in Colorado, Florida, Ohio, and Virginia. But all the while we have never left the Chicagoland market.
Regardless of what transpires in the future in the vibrant and competitive Chicago and Illinois banking picture, Gnodde Associates promises to be in the thick of it servicing its clients with the same knowledgeable, reliable, trustworthy, and personal service that it has provided since 1991. If after reviewing this website you determine that your work experience matches up with our areas of expertise, let us get to know you so that we can be a professional, responsive and confidential source of new career opportunities.
Gnodde Associates does not discriminate in the acceptance or referral of candidates on the basis of race, age, religious creed, sex, sexual orientation, national origin, marital status, or on the basis of a physical handicap not limiting the individual's ability to perform satisfactorily the position available.
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