WILMINGTON – Chip Rossi is one of the most visible executives in Delaware, by virtue of his high-profile role as the Delaware Market Leader for Bank of America. But he’s also incredibly active in his native state, from sitting on boards of nonprofits and local colleges to issuing Bank of America donations to local organizations throughout the years.
On June 30, Rossi will walk out of his office in the iconic Bracebridge complex for the final time. But before he does, he took the time to talk with Delaware Business Times about his career, the experience of working at a Wilmington giant and his favorite of Philadelphia sports teams.
The conversation has been lightly edited for clarity.
You started 40 years ago as an intern at MBNA. What’s the experience of starting there and making it to an executive level, now getting ready to retire?
It’s emotional. It's emotional because it has been 40 years of my life. To stay with a company that long, it tells you about the company and what the company is trying to do, because you have to believe in the purpose behind the company. It’s also about relationships and the people you meet along the way and work with.
You know, there’s things that happen with clients that need to be tended to, and there’s things that happen within the community that you’re trying to work through, and things that happen with teammates, and you’re trying to help them achieve what they want to achieve. Not everything happens in times that’s convenient for you.
I say that, in a sense, what’s made this journey all the more worthwhile is the people I’ve been on this journey with. When we’ve had to jump on the phone to talk about something that comes up on a weekend or an evening and we have to solve it. They weren’t waiting for Chip to call. It’s the spirit of ‘Let’s work together to resolve this’ or take an opportunity that’s there.
My heart is full. I have cried so many tears of joy over the last week and a half. I’m getting sappy in my old age, but it is all about a connection that’s real with people.
Many MBNA alumni call their time with the company, “the good old days.” Some may have jokingly called it the “the golden noose,” perhaps because you spent more time working there than taking advantage of all the benefits. From your point of view, what was it like when MBNA was here in Wilmington?
It was special and the memories I have will always be part of who I am today. But equally important was my 20 years with Bank of America.
(Rossi joined Bank of America in 2006). You had density in Wilmington with both.
I think that in both instances, the companies were focused on the customer and the client, and how do we help them achieve what they want to achieve. I think there was a deep commitment to our communities. Things may have been different from the MBNA standpoint, just because the fact was that everything was right here. Bank of America- we’re a global company, offering all kinds of products.
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In 2019, Bank of America Delaware Market Lead Chip Rossi shows a sign that exemplifies his belief in the company's mission. | DBT FILE PHOTO[/caption]
I’m very proud of the support we’ve done with our community here locally. That commitment to the community didn't change when that transition occurred. The other piece is about people- people get things done. The thing that’s been consistent throughout the 40 years is a commitment to the customer and community, recognizing that people part of this organization make it happen.
Being the son of a bricklayer, I’m wondering how your heritage in Italian American roots and in Wilmington plays out as a top executive in your home state? How has your past shaped how you approach your job?
My dad had hard work, and on hot days, he’s getting up and going to work to support his family. He had me out there in the summer mixing cement, and I distinctly remember thinking it was great that I got paid to do that. My father just looked at me and was like, “Look, you need to get an education. You don’t want this for the rest of your life.”
My mother was the voice of reason, telling me to be honest and have integrity. To take that approach in everything I do. My father coached me as a kid, and it was more about whatever the team needs, and how to support that.
I do think that’s what I brought to the job every day. Then there’s the leaders I worked with here as I progressed at this global company. They taught me so much about how to get things done in a big company and to think holistically and if it went wrong, what would you do about it.
All of that experience has led me to something I’m so grateful for. I just hope I did the right things every day, and I left Bank of America here in a better place.
You’ve been here in interesting economic times: the dot-com bubble burst, 9/11, the 2008 recession, COVID-19 pandemic and current events. What would you say has been the biggest challenge?
Obviously, all those things affect people, and they have their unique challenges. What’s important in my mind is that you try to put yourself in that person’s shoes and understand a little bit about what they’re going through. Just listen to it and then work together to figure out how to get in a better place.
The reality is, those were difficult times but what was the most difficult is hard to say, because there’s people on the other side experiencing it. That’s how I’ve always thought about it: we got a problem, let’s work on a way to get to a better place. It doesn’t mean you make everyone happy, but at least you make progress.
In terms of having empathy for people, would you say you picked that up in your time in your first job in collections? It must have been difficult to try and get people up to date on bills.
Look, my dad was a bricklayer and my mom was a homemaker. We had four kids. We had tough times, but we had love and support, and I wasn’t immune to experiencing those things. I was a little intimidated when I started, because I wasn’t sure how I could do [collections]. But what I realized is that people don’t intend to fall on hard times, hard times occurred.
I think that approach is what you should try and do in every problem you’re trying to solve. I just had the opportunity to practice it every day as a summer intern, working with people having financial difficulty.
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Bank of America Delaware Market Leader Chip Rossi presented a check to the Wilmington Land Bank in one of his final acts of service in the bank's name this summer. | PHOTO COURTESY OF BANK OF AMERICA[/caption]
Going back to “people get things done.” How would you describe your community service in Delaware?
I believe you make commitments to organizations, whether that’s time, treasure or talent. Hopefully you find organizations that are aligned to do things you believe in. Whether it’s serving at Delaware State University or ChristianaCare Board, working with the REACH Riverside team or at the Grand Opera House, those things are important to a community, and so they’re important to me.
The great thing is that a lot of those things align with Bank of America’s goals of trying to create a better community. [The company] can provide treasure and time as volunteers. We can provide talent but serve on boards. That’s part of the reason why I’ve been here for 40 years: the company is about creating a thriving community, because if you have that, businesses and people will thrive. And why the hell would you not want to be a part of it?
Here’s my fun question. What sports teams do you follow, and what’s your favorite among them?
We’ll start with college. Notre Dame football. Then professionally, it’s all things Philadelphia. It’s hard right now, but I’m hopeful the Flyers are turning it around.
Baseball, I was a catcher. It’s a game within a game. Every bat, every pitch. That’s what I loved about the game, and to this day, when I watch it, I look at it through a catcher’s perspective. What am I going to throw, what’s the pitcher getting over the plate. It’s just the beauty of the baseball game that I love, frankly.
What are your plans with retirement? Are you staying in Delaware?
My wife Tracy and I will stay local. We’ll spend some time here and some in Lewes, as well as Maine, where we have friends. Delaware will always be the place we call home. I’ll stay engaged in the boards as long as they’ll have me, because I think staying involved in the community is really important.
