Massey Alum Helps Launch New Boutique Bank in Nashville
Harry Allen, a Massey Professional MBA alumnus, is the Executive Vice President, Chief Relationship Officer of Studio Bank, a new boutique bank focused on serving the needs of Nashville's creative class. Mr. Allen recently spent some time with us to answer questions about his Massey experience and discuss his latest endeavor as a cofounder of a new bank in Nashville.
Massey on the Move: What was your professional background prior to Studio Bank?
Harry Allen: I started in banking with SunTrust Bank while in undergrad at Belmont. After graduating, I accepted a position into SunTrust’s Commercial Associate Program and stayed with them for 4 years as a commercial lender and Assistant Vice President in their Institutional and Government Banking Group. In 2008, I left SunTrust to join Big Brothers Big Sisters of Middle Tennessee as the Vice President of Finance and Administration, overseeing all finance and accounting, IT management, grant development and administration, human resources and operations for the regional nonprofit. In 2011, I returned to banking by joining Avenue Bank as a Commercial Relationship Manager and ultimately became the company’s Director of Nonprofit Banking and Community Investment until 2016.
MM: When did you begin the planning process for the new bank?
HA: This has been about a two and a half year process of visioning, meeting with community and business leaders, recruiting a board of directors and management team (both of which I’m extremely proud of), raising the necessary capital, writing the business plan and regulatory application, and recruiting employees. We officially filed our regulatory application in October 2017 after several months of ground work and we are very proud to have received our regulatory approvals to open the bank this month.
MM: How did your experiences at Belmont University and the Massey School of Business, in particular, help prepare you for this endeavor?
HA: Belmont and the Massey School have been integral to my entire career and, especially, this endeavor. Having attained my MBA, I have been able to apply a systems and holistic approach to contributing to the entrepreneurial process. From business plan writing to navigating the regulatory and legal components of the process, I have leaned on experiences and knowledge gained while in school. Principles of leadership and management have helped inform our vision for corporate culture and governance. Strategic planning and collaborative visioning have been tools that I’ve used in this context that I practiced often at Belmont and in the Massey School. And finally, there are investors who have joined me on this journey that I met in classes while at the Massey School. And some of the first people I shared our plan with were contacts from Belmont and the Massey School. So I am very thankful to Belmont University and the Massey School of Business.
MM: What has been the most exciting part of the process?
HA: Just as I’ve said, all of the process has required a lot of hard work, but I have to say that all of it has been exciting. For me, personally, to be able to found a company such as a bank is very special. Local banks are integral to deploying capital that helps businesses and people prosper within a community. To have succeeded in bringing a new source of capital to Nashville is quite exciting. Being a part of a phenomenal team and being led by our CEO, Aaron Dorn, who has been a friend and colleague for years is quite exciting as well. Knowing that this would be difficult, it was extremely meaningful to me that I do this with people whom I love and respect. We have made this process fun because we genuinely enjoy working with one another and are very aligned in our vision for Studio. Most of the founding executives have several years experience working together at Avenue Bank. We know each other’s strengths, shortcomings, gifts and passions. It’s been exciting to see each of us bring our whole selves to the process of building our company.
MM: What is your favorite part about being a Massey alum?
HA: My favorite part about being a Massey alum is that, different from some other schools, many alumni continue to live and work in the greater Nashville area. So it has been easy to maintain connections with fellow alumni and stay connected to the school as well. I love reading about the good works that Massey alumni are doing throughout the community and am proud to be associated with such a strong institution that continues to make a significant impact locally and beyond.
