Respect is earned, not given.
That phrase holds true when applied to any of those in the inaugural class of Most Respected Leaders. Each of those featured have dedicated themselves to improving Nevada and have earned the respect of those around them. Comprised of decision makers and executives in Nevada, Most Respected Leaders are those that their colleagues look up to and serve as mentors and examples for others to follow.
The first class of Most Respected Leaders were chosen by a committee of judges who reviewed their histories, legacies, leadership and careers. Each of this year’s honorees have shared insights on the following pages. Congratulations to all the Most Respected Leaders.
Nevada Business Magazine and PNC Bank are proud to recognize the accomplishments and contributions of these leaders.
Corporate Sponsor
The inaugural class of Most Respected Leaders comprises 11 dynamic and innovative individuals who are committed to the Nevada business community. PNC is privileged to be part of this community, and we congratulate all the awardees for their remarkable achievements.
Successful leadership requires a variety of skills and attributes, which are exemplified by this year’s awardees. Truly great leaders empower and motivate their teams to exceed expectations. They dream big and inspire everyone around them in pursuit of excellence.
As Nevada continues to experience explosive growth through a steady influx of residents and industries, the Silver State’s future is brighter than ever. As a longtime Nevadan and business leader, I am thrilled about the potential of our business community. We have a vibrant and collaborative culture where businesses and organizations partner to build a better tomorrow. We have no doubt that with these leaders at the helm, our community will continue to flourish for many years to come.
Since arriving in Nevada one year ago, PNC Bank has provided innovative products, future-focused insight and meaningful contributions to help our clients succeed. Though a relatively new name to Nevada, our team has decades of local banking experience. As we look ahead to 2023, our team will continue to grow and build collaborative relationships throughout the state.
As a National Main Street Bank, PNC is committed to making a positive difference for our customers and community, and to helping all move forward financially. This includes an enterprise-wide focus on diversity and inclusion. I’m proud to work for a company that understands the most successful teams are the most diverse.
Once again, congratulations to all the 2022 Most Respected Leaders, and thank you to Nevada Business Magazine for shining a spotlight on the importance of great leadership to the success of our community.
Denette Suddeth
PNC Bank
Judges
Nevada Business Magazine would like to thank the 2022 Most Respected Leaders judges; Gregory Bortolin, Governor’s Office of Economic Development – Connie Brennan, Nevada Business Magazine – Cara Clarke, Vegas Chamber – Denette Suddeth, PNC Bank – Scott Walquist, University of Nevada, Reno – Abbi Whitaker, The Abbi Agency
Reviewing hundreds of nominations and narrowing the selection down to those featured on these pages was not easy. The judge’s wisdom and fairness in selecting this year’s honorees is appreciated.
Thank You!
Shelley Berkley
Senior Vice President
Touro University
Primary Industry
Medical Education
Principal Location
Las Vegas
Nevada Citizenship
1962
What do you love about Nevada?
Four generations of my family have called Nevada home. For me, “Home Means Nevada”.
To what do you attribute your success?
I attribute my success to the fact that I am well grounded, thanks to a very supportive family. I knew both my grandparents and great grandparents very well so I know who I am, what I am and where I come from. I have strong values passed on to me by a caring, concerned and engaged family. My faith also plays an important role in my life.
What surprises you most about your career path?
I always knew that I would devote my life to public service as a way of giving back to this country. My family escaped the Holocaust and we had the opportunity to, not only survive, but to thrive in our country. Public service was not a surprise. Being an attorney was not a surprise. Becoming the CEO and senior provost of a university was quite a surprise.
What attributes do you respect in leaders?
Good leadership requires common sense, hard work, caring for the welfare of those who look to you for leadership, having a clear vision of where you are going and how you are going to get there and setting a good and strong example for others to follow.
Who has been a mentor to you and how have they shaped your leadership style?
My first mentor was my mother who told me I could accomplish anything I set my mind to, although she had never finished high school. My next mentor was my doctor for over 40 years, Dr. Parvin Modaber, who showed me that women can be successful and have a career outside the home. Finally, former Governor Michael O’Callaghan who taught me the importance of public service and caring for your fellow citizens.
What made you want to go into public service?
I always knew I wanted to go into public service. I am the granddaughter of immigrants who came to the United States in order to escape certain death in the Holocaust. Public service is my way of giving back to this country for giving us an opportunity to not only survive but to thrive.
What advice do you have for someone considering running for office?
Do it! I would encourage any citizen to roll up their sleeves and participate in our political process. I believe public service is a noble endeavor and is very rewarding.
What do you hope your legacy will be?
I would like to know that I made a difference in the lives of my fellow citizens, that I treated everybody with respect and dignity, and that – I came, I saw, I conquered!
Michael Dermody
Chairman of the Board and Chief Executive Officer
Dermody Properties
Primary Industry
Logistics Real Estate
Principal Location
Reno
Nevada Citizenship
Native Nevadan
What do you love about Nevada?
Nevada is a good place to do business and a great place to live.
To what do you attribute your success?
Integrity – walk the talk and know your limitations.
What surprises you the most about your career path?
That I have one. I’m very thankful. When I started in the business in 1972, I never imagined that Dermody Properties would be what it is today. I recently saw a quote from Helen Keller that says it best: “When you come to a bend of the road it is not the end of the road … unless you fail to make the turn.”
Who has been a mentor to you and how have they helped shape your leadership style?
My list would be very long, but I have one vivid recollection. Jack Reviglio, a business leader and one of the founders of the Boys and Girls Club in northern Nevada. He was a mentor who inspired me to start The Children’s Cabinet. In my mind, mentors are people who inspire you, and who you respect for their accomplishments. The greatest mentors I can think of are personal life mentors, not economic mentors.
What prompted your passion for community involvement?
It was my understanding that I could make a difference, which was the baseline for the public/private partnership model of The Children’s Cabinet. The Dermody Properties Foundation was prompted by a recognition of community needs, as demonstrated through business, i.e., education, families and childcare. Dermody Properties created the Stepping Stone Childcare Center in 1986, the first childcare center in a business park in Nevada, which was prompted by an understanding that businesses need childcare close at hand. Founding Sage Ridge School in Reno was prompted by my recognition that we needed to broaden our education offerings to attract companies to the region, as well as to keep families together. As Anne Frank said: “No one has ever become poor by giving.”
What strategies did you employ to grow Dermody Properties in your over five decades with the organization?
We never desired to be the biggest in the business; however, we wanted to be best in class. And the foundation of best in class is exemplary customer service. Integrity and mutual respect are the core of customer service and our Mission Statement.
What advice do you have for someone entering development today?
Work at, and understand, every phase of the development process because this will be the foundation upon which you will later specialize.
What do you hope your legacy will be?
That I raised a good family, and that I left the world better than I found it.
Sandra Douglass Morgan
President
Las Vegas Raiders
Primary Industry
Sports & Entertainment
Principal Location
Las Vegas
Nevada Citizenship
Native Nevadan
What do you love about Nevada?
I love watching its evolution. As a Nevada native who attended undergraduate and law school here, “Home Means Nevada” has a special meaning for me. I have witnessed firsthand the state’s growth, its culture come to life and the ascension of Las Vegas as the entertainment and now sports capital of the world visited by millions.
To what do you attribute your success?
I was raised by parents who instilled respect, hard work and accountability in me. Being raised by parents who faced unjust stereotypes, and who worked hard for their American Dream, cemented my commitment to treat people with respect and recognize that people from all walks of life are part of the fabric of the communities in which we live.
What would surprise a younger you most about your career path?
It has been an honor and surprise to receive so much acclaim for breaking down barriers for others. There were many visionary women who paved the road before me, and I hope that I can be that woman for other young girls who aspire to do great things one day.
What attributes do you respect in leaders?
In today’s rapidly changing business environment, it’s imperative that leaders make honest and ethical decisions and that they demand accountability within their organizations. Simultaneously you must be an inclusive leader for your employees and the community to ensure that everyone can be a part of the successes and the wins.
How is the sports industry framing Nevada’s future?
Having sports franchises builds a sense of community and pulls people together in a uniquely American way. The arrival of the Raiders organization has already provided an economic boost to Nevada and the Las Vegas communities, most visibly in the nearly 10,000 jobs the team’s move has already generated.
What advice do you have for women interested in pursuing a career in the sports industry?
My advice for women – regardless of industry – is to formulate your guiding principles early on and to know what you stand for. For me, it’s respect. Respect for the institutions you’re serving, respect for your peers and colleagues, and respect for the communities that have cultivated you. With the foundation of respect, you can accomplish incredible things.
What do you hope to accomplish with the Raiders in Nevada?
My goal is to fulfill the Raiders’ promise of being stewards of the Las Vegas community through philanthropy, economic empowerment and a guiding sense of responsibility to others. I hope to usher in a new generation of fans to Raider Nation and truly become a fabric of this community.
Betsy Fretwell
Executive Vice President of Strategy
Switch
Primary Industry
Technology
Principal Location
Las Vegas
Nevada Citizenship
August, 1991
What do you love about Nevada?
Nevada is a place of abundant opportunity. As a young woman I struck out across the country straight from graduate school in Georgia. What other place gives a transplant the opportunity to advance their career in less than 20 years to become the City Manager of one of the country’s 25 largest cities? Vegas gave me that opportunity! Applying my work ethic, dedication, and talents, plus building an incredible network in Nevada, paved the way to an incredibly rewarding career in both the public and private sectors.
To what do you attribute your success?
I’d say two key attributes contributed to my success. A willingness to take risks, and a passion for excellence. I sought every opportunity possible to learn, gain new and different experiences and build a strong business network. By taking this approach, I had opportunities to apply my talents with my “never met a stranger” personality to advance my career. This opened doors into leadership I dreamed of as a teenager.
What attributes do you respect in leaders?
[I respect] self-awareness and continued personal growth, ability to build a strong well-rounded team, wickedly-smart, and extensive and effective communication skills.
What made you want to join Switch?
Managing the city through and emerging from the Great Recession was a huge lift. I enjoyed every minute of playing such a critical role in the city’s recovery. We ushered in critical technology, innovation and downtown rejuvenation during one of the longest and deepest recessions in our country’s history. I loved that work and the projects that came with it such as establishing the Innovation District, hosting the first autonomous shuttle on downtown streets, and taking the city power use to 100 percent green sources. Sustainability and innovation are core motivators and principles here at Switch. As I contemplated retiring from public service, the fit seemed natural.
What was the most difficult experience you encountered as a leader?
Managing through the Great Recession. While I wouldn’t trade the opportunity to do the job during a challenging time, it was still a challenging time. Addressing a massive revenue shortfall, nation-leading foreclosures and increasing demand for services was a huge test for our entire community.
What do you hope your legacy will be?
When history looks back on my contributions to community and society, I hope the story includes that I embodied the courage to tackle big challenges, the civility to listen to and engage others and treat them with respect and inclusion and the creativity to develop and/or embrace big new ideas that made life better for everyone. My hope is that my family looks on me with pride, knowing that they could count on me and that I was present for them and loved them all very much.
Julie Murray
Chief Executive Officer and Principal
Moonridge Group
Primary Industry
Philanthropy
Principal Location
Las Vegas
Nevada Citizenship
May 1966
What do you love about Nevada?
I love the “can do” spirit that is the culture throughout the entire state of Nevada. Although there are over three million people who call Nevada home, there is a central group of people who lead with excellence and achieve many great accomplishments while also creating a pathway for newcomers to get involved.
What attributes do you respect in leaders?
It often takes a group of dedicated stakeholders to achieve success, but sometimes people complete a successful event or project and fail to recognize the team who helped get them there. I respect people who are fierce and confident leaders but show humility and gratitude for those who helped them achieve their goal.
What made you want to co-found Three Square Food Bank?
There was a significant amount of food insecurity in the Valley and children made up a large percent of those who were lacking access to food. After learning about the need, I simply could not sit on the sidelines. I knew I had to be “100 percent in” and ready for a big challenge to launch the food bank, or not engage at all. I chose to be 100 percent committed, and it was a challenging, rewarding and memorable experience!
Why is it important for businesses to give back to the community?
Corporate giving bolsters a company’s brand, enhances employee morale and builds consumer loyalty. Corporate giving, when done strategically, helps to create a community that is a vibrant and healthy place for their families and employees to live, work and play. Corporate Giving is no longer a “nice to have” initiative. Today it is a “must have” in order to be competitive.
What surprises you most about your career path?
Someone early in my career told me that if I loved what I do, I would never work another day in my life. They were right! I work hard but love what I do and still look forward to Mondays and the start of the new work week.
What’s the most important lesson you hope to impart to your students?
That their reputation is an important thing to protect and nurture, and is built over years of doing many small and large tasks with excellence. They need to treat people the way they want to be treated and build mutually beneficial relationships. As a result, they will have a reputation as a strong leader and someone who is sought after when important leadership roles are needed.
What do you hope your legacy will be?
That I contributed to help make the world a better place to live, work and play. My generation has done much harm to the planet, and I’m working hard to find ways to help to course-correct, and leave the planet a place that my granddaughter Madeleine finds as a vibrant and healthy place to live.
Kevin Orrock
President, Las Vegas Region
The Howard Hughes Corp.
Primary Industry
Development
Principal Location
Las Vegas
Nevada Citizenship
Native Nevadan
What do you love about Nevada?
I appreciate the can-do attitude of Nevada, a state where just about anything is possible. Nevada, and specifically, Las Vegas, is a place where local government is accessible, the business community is committed to community betterment, and here, visions and dreams can easily become reality.
To what do you attribute your success?
Perseverance. I have been with The Howard Hughes Corporation for more than 48 years, and over the decades, I have had the opportunity to tackle many different jobs and work on a variety of projects. I never lost sight of the importance of showing up every day, respecting my coworkers and creating value for stakeholders.
What attributes do you respect in leaders?
Integrity and honesty are paramount to being an effective leader with employees, with the community, with other business leaders and stakeholders. Without integrity, nothing else matters.
Who has been a mentor to you?
Early in my career, I worked for a gentleman who had been very successful both in the US and abroad. He showed the same respect to everyone, whether they were a C-Suite executive or an individual pushing a broom. This was a powerful lesson, and I have strived to do the same.
What advice do you have for a young person entering your field?
Work hard, never give up, be honest with yourself and your peers, and never stop learning. And don’t forget to have fun along the way.
What are some of the biggest changes to the development landscape in southern Nevada you’ve been witness to?
Water has long been a concern of the development community. I am very proud of Summerlin’s embrace of low water use landscapes that began years ago. Today, we are continuing to actively replace non-functional turf with desert landscaping, and new design is carefully planned with water conservation in mind.
What are you most proud of having accomplished?
Downtown Summerlin, the community’s dynamic urban core stands out. It has changed how and where residents shop, dine, socialize, work and play. Its landmark facilities like City National Arena and Las Vegas Ballpark, along with Class-A office buildings and a spectacular retail destination are accessible to everyone in the valley.
What do you hope your legacy will be?
Summerlin, now in its 32nd year of development, is a remarkable success story that has spanned decades. It is continuing to unfold true to its original vision and continues to be the best place to live in southern Nevada. Summerlin is a legacy of which I am most proud.
Nick Rossi
Chief Executive Officer
LP Insurance
Primary Industry
Insurance
Principal Location
Reno
Nevada Citizenship
Native Nevadan
What do you love about Nevada?
I love the diverse recreational opportunities which are all within easy access. Specifically, I enjoy the four seasons in northern Nevada. I also appreciate the freedom to create a business from a vision based on our friendly economy.
To what do you attribute your success?
I strive for consistent communication that translates into transparent expectations. Creating a winning environment means creating an environment where team members understand their options and most importantly, their opportunities.
What attributes do you respect in leaders?
I respect leaders that care and empathize with their teams, their clients, and their communities. They always attempt to make the best decisions possible even if sometimes that means changing course.
Who has been a mentor to you and how have they helped shape your leadership style?
My earliest mentors were my parents and grandparents. They taught me the most precious goal is family togetherness. A business that resembles a family and works to maintain a sense of family unity inside a rapidly growing business culture is both challenging and highly rewarding. As a young broker, my best clients (mentors) were those who practiced this discipline.
Why is community involvement important to you?
A business is much more than numbers. First and foremost, it is a collection of individuals, who in my opinion, gain satisfaction from their work only by the value and benefit they collectively bring to themselves, their clients, and their families. That can only happen on a sustainable basis in a healthy, thriving community.
What advice would you give to someone entering the insurance field?
The insurance industry offers remarkable careers and is one of our economy’s best kept secrets. It shouldn’t be because those who undertake this professional journey rarely leave. The economic and professional opportunities to serve our community are simply too rewarding.
Why is mentorship important?
We’re involved in mentorship on a variety of levels, specifically in our interface with the relatively new insurance and risk management programs at UNR and UNLV. Our goal at LP is to build a sustainable and growing enterprise. An entity that exists beyond the careers of our current team. That unwavering commitment to sustainability cannot happen without effective mentorship in all levels of our company and community.
– William Faulkner
Tony Sanchez, III
Executive Vice President, Business Development and External Relations
NV Energy
Primary Industry
Utility
Principal Location
Las Vegas
Nevada Citizenship
Native Nevadan
What do you love about Nevada?
Nevada is a battle born state where hard work has been rewarded since its’ inception. It is a place that is welcoming to those willing to work hard and who want a better future for their children, regardless of their economic status. While it is not without its challenges, there is opportunity in Nevada for everyone.
What surprises you most about your career path?
Education was always a driving force for me and even though I studied and practiced law for many years, the legal education I received prepared me to excel in the business community.
What attributes do you respect in leaders?
Those who never forget where they came from, that help others and do not bring the ladder up behind them, that hire the best without fear of being replaced, who recognize the human side of their colleagues.
If you were to teach a college-level class, what would you teach?
History of the Beatles. You could just call it the history of music that matters in the last century, you would be saying the same thing! If I knew as much about energy as I do all things Beatles related, I would be really good at my job!
What do you enjoy about working with NV Energy?
NV Energy is one of the most forward-thinking utilities in the nation. I have incredible colleagues that are committed to serving our customers every day in the most responsible and affordable manner possible. The decarbonization of the energy industry is incredibly exciting and NV Energy is a top decile utility when it comes to the amount of renewable energy we have added to Nevada’s energy portfolio and reducing our carbon output by over 50 percent in the past fifteen years alone.
What are you most proud of having accomplished?
With strong tutelage from and partnership with my wife Elaine, we have raised our four children to be terrific Nevadans who are both humble and confident in themselves and ready to make their mark on the world.
Why is community involvement important for a leader?
From a corporate perspective, community involvement is important to your workforce. Support your employees in their desire to give back where they live, work and play. It differentiates you from your competition and you get the best and happiest employees.
What do you hope your legacy will be?
That I was an active ally for underrepresented colleagues in the workplace; that I was a proud graduate of the Clark County School District and University of Nevada, Las Vegas and that I worked to ensure that others received the great education that I was privileged to receive.
Maureen Schafer
President and Chief Executive Officer
Nevada Health and Bioscience Corporation
Primary Industry
Healthcare
Principal Location
Las Vegas
Nevada Citizenship
1999
What do you love about Nevada?
Nevada is a place where everyone can succeed. If you work hard and are willing to meet people where they are at, there is a role for you to play and to advance our community and economy. There is no secret password to becoming a real Nevadan here. We welcome everyone here to join in and contribute.
To what do you attribute your success?
In every company I have led, I singularly hire people of the highest competencies and unbreakable integrity. When you are surrounded by people with top-of-industry perspective and ethics, you will rarely run into trouble, and when you do have inevitable challenges, you will solve them quickly.
What surprises you most about your career path?
Most of my greatest successes were not a result of my own career planning; they came as a surprise or as a result of a forced change I did not want to make. I have given up having a “career path”. I owe my successes to other people and I am grateful.
How important was the completion of the Medical Education Building?
It is critical to the foundational girding of the Kerkorian School of Medicine at UNLV and academic medicine writ large for southern Nevada. Academic medicine complements and grows both private medicine, research and innovation in and around medicine.
What are you most proud of having accomplished?
I donated a kidney in 2014. It was to an anonymous 51-year-old dad in Ohio. People thank me for doing it, however, I am the one who feels the most grateful for being able to do it. Had the roles been reversed I can only hope someone somewhere in the world would step up for me or a member or my family. It’s important we believe in each other.
Why is community involvement important for a leader?
We all belong to each other. We may think we don’t need anyone with the advent of iPhones, Uber Eats and gated communities, but that is a false reality. We are only as strong as the weakest among us and when leaders understand this truth and engage in the business of community, the businesses’ themselves will be assured of prolonged sustainability.
What are your hopes for the future of Nevada?
There is no shortage of challenges facing the state today. However, the opportunities for creating best-in-class institutions and positive change far outweigh those challenges if we come together to imagine these solutions together. The only barriers keeping us from those successes are ourselves.
What do you hope your legacy will be?
I was a part of enabling good things to happen that people thought could not be done.
– Ghandi
Mary Beth Sewald
President and Chief Executive Officer
Las Vegas Chamber of Commerce (Vegas Chamber)
Primary Industry
Chamber of Commerce
Principal Location
Las Vegas
Nevada Citizenship
May 1991
What do you love about Nevada?
There are so many things to love about Nevada! I love the diversity of the people, the can-do business climate and the geography. Most of all, I love the resiliency of Nevadans. No matter what happens, whether it’s an economic downturn, a water shortage or a pandemic, Nevadans always find a way to double down and reinvent themselves. That’s why the Chamber’s motto in 2022 is “Battle RE Born”.
What surprises you most about your career path?
I knew from a very young age, that I wanted to be a broadcast journalist. Everything I did, from elementary school through college at the University of Missouri School of Journalism at Columbia, was focused on achieving that goal. The most surprising thing about my career path has been the journey leading me to the Vegas Chamber. What’s not surprising, is that serving in my capacity at the Vegas Chamber has been the most gratifying chapter of my career.
How important is communication and collaboration for the health of a business community?
Communication and collaboration in creating strategic partnerships has been the deciding factor and the transformational turning point not only for the Vegas Chamber, but also for our partners and Nevada as a whole. This became most obvious when trade organizations, economic development entities, chambers of commerce and government agencies all came together during the pandemic. Everyone worked together to create resources, develop plans and provide information at a time when people needed it the most.
What attributes do you respect in leaders?
Attributes that I respect in leaders are the same ones my parents instilled in me. I respect “servant leaders” with core values of integrity, honesty, character and patience. I respect leaders who don’t care who gets the “credit”, but who give credit where it is due – to the team. I respect leaders who listen and have empathy and grace. I respect leaders who understand that life is a journey and we are always learning.
Why is community involvement important for a leader?
For me, community involvement is critical for a leader because it gives meaning and perspective to our “why”. When we are involved in, and give back to our community, it allows us to be a good role model for others – especially the younger generation looking for mentors and a road map to success. It gives us the opportunity to inspire others and show that “If she can do it, I can too.”
What do you hope your legacy will be?
I would hope my legacy will be that I am a servant leader touching people in a profound, lasting and meaningful way, setting an example and inspiring others.
Mason Van Houweling
Chief Executive Officer, University
Medical Center of Southern Nevada (UMC)
Primary Industry
Healthcare
Principal Location
Las Vegas
Nevada Citizenship
July 2008
What do you love about Nevada?
Nevadans simply take care of each other, especially during times of crisis. While we have grown significantly in recent decades, Nevada is still a relatively small state where people know one another. From a tragic mass shooting to an unprecedented global pandemic, our state has faced extraordinary challenges in recent years. During our darkest hours, we always come together as Nevadans to support each other and offer valuable hope for the future.
What surprises you most about your career path?
I’ve faced a number of crisis situations throughout my career, including the 1 October shooting and the COVID pandemic. I’ve learned that these moments can define your career and truly show you what you’re made of. My time serving in Afghanistan after 9/11 tested my mental and physical toughness, and it also prepared me to lead large-scale crisis response efforts at home.
What attributes do you respect in leaders?
In healthcare, compassion is our most valuable asset. I respect leaders who serve their communities and take care of their employees. It’s important to support your team members, listen to their advice and recognize their extraordinary contributions.
Who has been a mentor to you and how have they helped shape your leadership style?
Growing up as the son of a Navy officer, the military had a lasting influence on my leadership style, teaching me the value of respect, courtesy and integrity. Early in my career, I received valuable guidance from two C-suite hospital executives, Sue Halloran and Toni Baker.
What gets you excited to go into work every day?
I always look forward to working alongside our dedicated team members at UMC. It’s not one department that helps our organization thrive, it’s all of us working together to achieve our shared goals. Each day brings new challenges and new opportunities to meet the needs of our friends and neighbors across southern Nevada.
What have you prioritized at the hospital to keep it sustainable and healthy into the future?
In recent years, UMC has experienced a rapid financial turnaround. We were able to achieve this by expanding our services, renegotiating contracts, and investing in technology and capital. As a result of our strong financial position, we have improved access to high-quality care while saving Clark County taxpayers at least half a billion dollars since 2016.
What do you hope your legacy will be?
I take pride in the fact that our team has built upon our strong foundation to position UMC as the best healthcare system in Nevada. This achievement would not have been possible without the valuable support of our community. I’m forever grateful that the people of southern Nevada trust us to deliver the high-quality care and resources they deserve.
Why a Strong Cash Management Strategy Is Smart for Every Nevada Business
As Nevada’s business community continues to grow, an innovative cash management strategy can make companies of all sizes more competitive in an ever-changing landscape.
Once nearly exclusive to large companies, transformational treasury management tools and technologies are leveling the playing field for businesses of all sizes by helping provide data and solutions for cash management. Working with an experienced treasury management provider can help business leaders run their organizations better, accelerate the move to electronic and real-time payments, streamline payables and receivables and reduce reliance on costly paper and manual processes. Technology driven solutions can also help leaders monitor flows of money across multiple business units, allowing time-sensitive adjustments as market conditions evolve.
“PNC’s treasury management team collaborates with our clients to help them maximize the value of their working capital,” says Denette Suddeth, PNC regional president for Nevada. “Along with improving daily cash flow, an effective cash management strategy could reduce costs and manage operational risks.”
The Advantages of PNC Treasury Management
“Treasury management isn’t one size fits all,” Suddeth explains. “Your treasury management provider should understand your business, its cash flow cycle and your industry, and offer a broad mix of skills and services to meet your unique structure and goals.”
To ensure the bank is at the forefront of the financial services industry, PNC annually makes significant investments in technology and product development to provide tailored applications and innovative solutions to address clients’ specific needs. More so, PNC also collaborates with financial technology firms, when needed, and has also acquired several technology-focused firms to broaden the bank’s capabilities.
One example of PNC’s focus on innovation is PINACLE® Connect, an easy-to-implement ERP, accounting software and treasury workstation connector that delivers an embedded banking experience, and requires little to no technology resources to implement. Intuitive in-app features enable end-users, such as accounts payables teams, to pay vendor bills using a variety of payment types, automatically generate remittance emails and track payment statuses. Other end-users, such as treasury teams, can view near real-time account balances and leverage automated bank data feeds for daily reconciliation. PINACLE Connect provides clients with a streamlined interface, keeping their day-to-day activity in one platform – removing the need to switch between systems – and ultimately, eliminating friction in the customer experience.
“In today’s interconnected world, both consumers and businesses expect seamless experiences that deliver instantaneous results within the digital experiences they use every day,” Suddeth says.
Is It Time to Reevaluate Your Treasury Management Strategy?
How do companies know if it’s time to change their treasury management process? PNC recommends that a company evaluate their processes if they:
- Haven’t conducted a detailed review of their cash management processes in the past two years.
- Experience challenges servicing their customers due to limitations with their current platform.
- Have a small staff with limited cash management experience.
- Are not using proven techniques to maximize cash flow value.
- Need to free up time to focus on other business activities.
PNC Treasury Management offers a platform of innovative, end-to-end technologies coupled with experienced teams, who work with clients to develop a cohesive treasury management system. Clients can optimize cash flow, achieve faster and more secure transactions, and drive their businesses forward. Learn more at pnc.com/tm.
Join us to learn about our treasury management and fraud protection services at an event at 3 p.m., March 8, 2023, at Top Golf Las Vegas. Contact PNCNevada@pnc.com to learn more and RSVP.
PNC and PINACLE are registered marks of The PNC Financial Services Group, Inc. (“PNC”) Bank deposit, treasury management and lending products and services, foreign exchange and derivative products (including commodity derivatives), bond accounting and safekeeping services, escrow services, and investment and wealth management and fiduciary services, are provided by PNC Bank, National Association (“PNC Bank”), a wholly owned subsidiary of PNC and Member FDIC. Lending, leasing and equity products and services, as well as certain other banking products and services, require credit approval.
©2023 The PNC Financial Services Group, Inc. All rights reserved.
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