2015 40 Under 40 Broker Awards: Russell Bank
Northeast region Reprints
Vice president of insurance placement
Wells Fargo Insurance Services USA Inc.
Age: 37
Russell Bank doesn't hesitate when asked what he most enjoys about being a property/casualty insurance broker.
“I love solving problems for people. Each risk has its own challenges, and I enjoy tackling those challenges,” said Mr. Bank, who is vice president of insurance placement with Wells Fargo Insurance Services USA Inc. in New York.
At the same time, Mr. Bank said finding the right coverage at the right price is a key part of his job, a part that he relishes. “I'm best at last-minute problems that need solving. Clients remember that,” he said.
The back-and-forth negotiation with underwriters also is a part of the job that he thoroughly enjoys, he said. “When you develop relationships with underwriters, you can get more things done, and your submissions go to the top of the pile,” he says.
Mr. Bank's clients recognize and appreciate his ability to get them the coverage they need at competitive prices.
“He works diligently every year to get us the best possible coverage and at the best rate,” said Laura Condulis, senior vice president of administration and operations at Tradeoff Construction Services in New York, for whom Mr. Bank has found coverage for a wide range of liability risks.
Mr. Bank “listens to his clients' concerns and works tirelessly to address them,” Ms. Condulis added.
His colleagues attribute Mr. Bank's success to several factors, especially his ability to get to the heart of a problem.
“He is quick and great at identifying issues, while having an especially high level of energy,” said Peter Munger, North region property/casualty placement leader with Wells Fargo in New York.
Mr. Bank has spent his entire professional career — 15 years — working in the insurance brokerage business, and he intends to stay in the field.
“I just love what I do,” he said, referring to relationship building and the placement of coverage for clients.
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