Raymond Seeto's career reads like a journey through the major technological and economic transformations of our time. From introducing direct selling in China immediately after Tiananmen Square to teaching factory workers how to use their first computers, Raymond has consistently positioned himself at the intersection of innovation and human connection.
Our conversation takes us from his early days with Avon and Danone in late-1980s China to his work with cutting-edge medical devices that treated brain tumors using radiofrequency technology. Raymond draws fascinating parallels between the PC revolution he witnessed firsthand and today's AI transformation – both representing not just incremental improvements but fundamental shifts in how we process information and solve problems.
Most revealing is Raymond's passion for community banking at Bendigo Bank's Darling Square branch in Sydney. He shares how their innovative model sends profits back into local community projects while creating a banking experience that feels more like a five-star hotel than a traditional branch. There are no counters or barriers – just conversations in a space designed to build trust. This human-centered approach explains why Bendigo consistently ranks among Australia's most trusted brands while major banks continue closing branches.
Raymond's career wisdom comes from decades of giving "100% to whatever I do" – something he acknowledges as both strength and weakness. His advice to younger professionals is refreshingly direct: "Whoever you work for will only look after themselves. You need to look after yourself as well." Listen now to discover how one man's remarkable career journey demonstrates that even in finance and technology, authentic human connection remains our most valuable currency.
Find out more and visit our website: https://www.cubicpromote.com.au/
Connect with Raymond Seeto:
🌐 Website: https://www.bendigobank.com.au/branch/nsw/community-bank-darling-square/
💼 LinkedIn: https://www.linkedin.com/in/raymond-seeto-703a9b2/
📸 Instagram: https://www.instagram.com/seetoraymond/
Find out more and visit our website: https://www.cubicpromote.com.au/
Episode Transcript
Welcome to the next episode of the promo playbook by
Cubic Promote.
Today I've got a special guestwith me.
His name is Raymond Seto andRaymond Seto has had, and
continues to have, an incrediblecareer.
Currently he's working as adirector in Bendable Bank,
haymarket, sydney.
Raymond, welcome to the showand thank you so much for your
time.
Speaker 2 (00:19):
Thanks, Charles, Despite the very wet weather
we're experiencing here in amoment.
Yeah, it's been a pleasure.
Thank you so much.
Speaker 1 (00:26):
Well, raymond, you've had an incredible boardroom.
Sorry, you've had an incrediblecareer.
You continue to have anincredible career.
I want to find out a bit aboutthe person behind yourself.
If you could share and we couldtalk about stories of risk,
resilience and purpose, just tofind out what it takes to have
such an incredible career,that'd be amazing.
(00:46):
So I've got a set of questionsfor you.
So, are you ready?
Sure, brilliant.
So I see that on your LinkedIn.
It's incredible.
I'm reading through financedirector of Avon.
Finance director in a biscuitfactory.
Maybe let's start there.
How did you come frombackground in Avon into a
biscuit factory there?
Speaker 2 (01:07):
are similarities in the business, simply because in
Avon we're a fast-movingconsumer item and biscuit
factories are similar becausethey're making millions of these
things, and so you know, at theend of the day, the numbers are
numbers and so there are.
You know, you're looking atnumbers and making sure that
(01:27):
everything is fine in thatrespect, so yeah, you get to
taste.
Speaker 1 (01:31):
Test the biscuits.
Speaker 2 (01:32):
Oh well, it was funny because when I was going
through those career stages Iwas living as an expatriate in
China at the time in Guangzhou,and I was part of the very early
team going into China, where itwas in the late 1980s.
That was when Tiananmen Squarehad just happened in 1989.
Straight after that.
(01:53):
So Tiananmen Square was June,and then I started going into
China somewhere around October,november of that year and there
was really exciting times thenbecause you know of all of those
political machinations of Chinagoing on.
A lot of the Western companieswere looking to well, are there
opportunities to go in there?
Of course that incident scareda lot of companies.
(02:14):
It would have, yeah, but withAvon being a large US company,
well, they had certain plansthey had implemented and nothing
was going to stop thatimplementation.
But it did.
It did kind of like putwrinkles in it and and so you
know people had to to reassesswhat was going on.
But ultimately we moved forwardon it and we started a very
(02:35):
small factory in Guangzhoumaking, you know, enough items
for us for our sales force to toget.
And it was such a radicalbusiness model for China at the
time and that we were lookedupon as very much as pioneers,
because at the time most UScompanies, or most foreign
companies, were looking to Chinaas more manufacturing and the
(02:58):
low cost of human labor, and sothat was their primary aim.
We looked at it differently andtogether with other direct
selling companies such as amway,we introduced a new way of
retailing, a new way of ofreaching out to consumers.
Speaker 1 (03:13):
So that was very exciting times in that period
that was, that was the type ofbiscuits.
Are these chocolate biscuits?
Are they?
What types of well?
Speaker 2 (03:21):
I had moved from avon to a french company called
denone, that's a yogurt company,yogurt company, absolutely, and
they were one of the world'slargest food groups.
And they own a number of otherbrands that people probably
wouldn't know the brands butwouldn't know the owners behind
it.
And they were an expansion driveas well.
(03:41):
And they had started a yogurtcompany in Guangzhou.
They had purchased a smallwater company called Wahaha
which if you're from China youprobably know who that is and
that ultimately became a hugecompany, but that's a totally
different story.
But coming back to biscuits,they also expanded into
(04:01):
purchasing down in our biscuitcompanies or other food
companies around around china.
And then I was recruited to bethe cfo there and it was really
to bring the chinese systems tosomewhat close to the 20th
century, because they were backin in the 50s.
Everything was done by hand.
So when I walked in there, mystaff barely knew what a
(04:23):
computer was at the TC.
So I literally had to bring aPC out and say turn on the PC
and say this is what it's allabout, this is the spreadsheet,
this is what you can do.
And in fact I took a very largesheet of paper and I had to
explain to them what aspreadsheet, what it could do,
this is the cell.
You add this to this Boom.
Speaker 1 (04:50):
So this is incredible because what you've experienced
a couple of decades ago fastforward a couple of decades
later.
It's literally the sameconversation that we're having,
but no longer PCs, but with AI.
So AI is kids' leaps and bounds.
The amount of exponential I'mnot talking about incremental,
or maybe it's a new software,maybe an extra key on a keyboard
that makes things a little bitquicker.
Speaker 2 (05:12):
I think you would say here is back in 30 years ago,
on the dawn of the PC age andthe dawn of internet.
Ai is now at that same level itis at that same stage At that
same stage.
It should, yes, though at amuch higher technology step and
a much higher intellectual step.
Speaker 1 (05:30):
It's frightening we were just talking about this a
second ago this clip that we'rerecording right now.
When it comes to editing, whatwould it take an editor maybe a
few hours to edit some ums andahs out of this clip?
I could do within under threeseconds.
It's exponential.
Yes, absolutely Amazing,amazing.
So, going through the rest ofyour career, you then had a 90s
(05:52):
at Mediforce Technology as adirector yeah, and that was we
many.
Speaker 2 (05:57):
Force was set up to try and target the chinese
market for medical devices, andwe got into devices that looked
at brain cancer as well as livercancer.
Scanning devices no, notscanning devices.
These are actually deviceswhere we used radiofrequency to
ablate tumors within the brainand also to cure different types
(06:22):
of conditions such as neuralgia, and it's something to do with
the face brain cancers, braintumors, liver tumors.
Speaker 1 (06:31):
Cutting-edge stuff Even today, back in the day even
more so.
Speaker 2 (06:34):
And now, of course, with AI and medical technology
just going in leaps and bounds,they're fine-tuning it and
things are even better thesedays, so yeah, Corporate
Director AFT Corporation.
Speaker 1 (06:47):
Accredited Greens.
Known Successor.
Federal Government SydneyPartner Lambda.
Speaker 2 (06:52):
Chase Lambda, chase Lambda.
Speaker 1 (06:54):
Chase.
Corporate Director, michaelKulius Medical Limited.
Government sydney partner.
Lambada lambda, chase, lambda,chase.
Corporate director, michaelculius medical limited.
This is incredible.
I could go on and a few otherones, culminating in where
you're currently at, which is atzikintax yeah, as well as
bendigo bank zykin is my ownthing.
Speaker 2 (07:09):
I specialize in helping companies who are who
are doing research anddevelopment, and I help them do
their research and developmentclaims from the ATO.
It's a really exciting areabecause I get to talk to people
who are at the top of their gameand looking at developing
(07:30):
products to get into the market.
For example, I have a clientthat uses AI and develops
software for a range ofdifferent things for their own
clients, such as doing games anddoing a range of other things,
and, as well, I've got clientsdoing development for travel.
You know really, really goodstuff as well as clients who do
(07:52):
very, I would say, 20th centurystuff like manufacturing.
Manufacturing is not dead.
It's not dead, it's still alive,but it's, yeah, needs a bit of
hair clearly so so, yeah, I Ilove talking with you know,
those people who have, you know,ideas in which to improve their
products and and to come upwith new products and bendigo
bank um your role there, if youshare with us.
Speaker 1 (08:13):
How did you get involved and what were the
aspirations for the Bendigo Bankbrand?
Speaker 2 (08:18):
Well, I've been a director of our community bank
at Darling Square for nearlycoming up to 10 years slightly
less than 10 years about eight,nine years.
Speaker 1 (08:26):
So Darling Square for the audience out there is in
Sydney, new South Wales, theheart of Kmart in the middle of
Sydney, cbd, yes.
Speaker 2 (08:34):
And we're a franchise of Bendigo Bank, so
shareholders own the branch, butwe use the Bendigo Bank
platform to provide banking toour customers.
And what the beauty of it is asI mentioned the word community
bank is that the community bankconcept is actually that people
within the area come togetherand create this service provider
(08:59):
called the community bank,where it provides banking
services, but the profits that'sgenerated from that is then, to
a greater or lesser extent,sent back into the communities
to support community projects.
We help local land care, wehelp men's shed, we help, within
our area, the museum, theMaritime Museum.
(09:20):
We help charities like Impact100 Sydney.
I could go on.
We help who is it?
The Children's Tumor Foundation.
So we're a very large supporterof that particular charity.
So, yeah, I could go on.
So our profits go back into thecommunities.
Speaker 1 (09:37):
So the Bendigo Bank, so we call it the community bank
, and so the identity reallymatters.
Speaker 2 (09:43):
Oh yes, Community banks are very specific to
Bendigo Bank.
So when you go into BendigoBank branch, if it says the word
community bank, then it meansthat they are community owned.
If you don't see the word, thenit's a corporate owned and run
branch.
Speaker 1 (09:58):
So that's how the words symbolize.
It Symbolizes the meaning yes,Incredible.
So trust is fragile in bankingbecause it's so easy and there's
so much help in banking forconnections, for clientele.
How do you keep the humanconnection alive in an industry
that is frankly quite cold andtransactional?
Speaker 2 (10:16):
Yes, it is, and we can see that in the industry
today in terms of the way thebig four are closing branches.
Community Bank and Bendigo Banklook at it differently.
We have a very human touchassociated with our brand.
I think you'll see the latestbrand trust surveys in that
Bendigo Bank is right up top oneor two most trusted brands in
(10:39):
Australia.
It reflects the way that thebank sees people and the way the
bank wants to conduct andcommunicate with people, and so
that I mean I like to call itbanking for everyone, where if
you come in, you will getsomeone, a human being, talking
to you.
If you have more complex issuesto sort out, we will sit you
(11:03):
down, we'll make you a cup ofcoffee and we'll make sure that
you are looked after in the bestpossible sense.
Speaker 1 (11:09):
It's an experience.
I think it's very possibly morecommon in Asian countries my
sister, for example.
She's a teacher in in hong kongand when she goes to do banking
she gets the private banktreatment.
Yeah, normally is reserved forthe more wealthier people in
sydney, and so it's interestingthat the community bank would
(11:30):
give that experience to everydayaustralians as well that's what
our point of difference is,especially at darling Darling
Square, we have a restaurant.
It doesn't look like a bank.
Well, I've been there.
It doesn't look like a bank.
There's no counters, there's noareas of orders.
You walk in and it'simmediately just a conversation.
Yes, it's not about business orbank.
(11:51):
It's literally stepping into aconversation.
Speaker 2 (11:54):
It was set up that way as well, yes, we designed it
that way so that we wanted thefeel of, when someone walks in,
that there's a sense of trust inthere, this sense of comfort.
So we looked at emulating afive-star hotel is what I would
call it but obviously with aninstitutional touch to it.
Speaker 1 (12:15):
And I must add a lot of small little details, such as
branded uniforms, branded pens,branded notebooks, that are
just littered throughout just toremind the customers as casual
and as powerful of aconversation.
We want to be subtle.
This is a professionally subtlywell-run organization that's
going to look after people'sfinancial assets, yes, yes, and
(12:35):
having cubic promoters aremerchandise providers certainly
adds to that aura.
Thank you, thank you.
If you were to sum up PinnacleBank's story in the next 10
years into a single sentence,how would you summarize that?
Is it business as usual or doyou see something changing in
the way people interact In terms?
Speaker 2 (12:55):
of our own community bank.
We're very, very ambitious.
We want to bring the sameexperience that people
experience within our DarlingSquare branch to as many
branches as possible.
So we would certainly look toexpand and look to drive our
business further.
Speaker 1 (13:11):
Let's change the tactic.
Away from your career in thebanking, a bit more about
Raymond the person.
If you were to be stuck in anelevator with any three people
dead or alive, who would youchoose, and why oh?
Speaker 2 (13:22):
who could I choose?
I'm thinking of some of myheroes.
I'd probably choose apolitician and a musician.
A politician.
Speaker 1 (13:29):
That's controversial.
Well, it's got to be a bloodygood one.
Speaker 2 (13:33):
Well being of the age I am.
I'm thinking of JFK, but maybenot.
It's hard, isn't it?
I mean, most people would gofor a Mandela-type conversation.
Speaker 1 (13:43):
That would be a very interesting conversation.
Speaker 2 (13:45):
I mean the fact that he was stuck in prison for so
long 20-plus years, I think andthen be able to walk out and
still show the humanity that hehas.
He has that dignity.
Dignity was just you go.
How does that happen?
So, probably he would be oneperson I'd love to just be in an
(14:05):
elevator.
With the seconds it takes to goup an elevator Hope it takes
longer.
Who else would I love to?
I think someone.
He's someone that hasleadership and he led from a
position of dignity and aposition of where he didn't play
the politics so much, andthat's what I loved about that.
(14:28):
Oh, look, because I'm a babyboomer, I tend to like
singer-songwriters I don't know.
I can list off any number ofsinger-songwriters.
James Taylor is probably one ofmy ultimate musical heroes.
Third person probably someonesporting, I think Maybe, and you
know what?
He's modern Tata Pagaccia,who's a cyclist, and he won the
(14:48):
last couple of editions of Tourde France and, in fact, I did
meet him back in 2022.
Young chap at the time spoken,but obviously Not a disciplined,
not a quick.
Speaker 1 (14:59):
Really Went to Tour de France a couple of times.
Speaker 2 (15:01):
Well, he's now won a four-time, but what I like about
him is that when he was young,he was very, very aggressive.
He just thought about going.
He didn't think about theconsequences.
Now he's more strategic.
He thinks about things now andhe doesn't do anything.
That is not going to come outwithout something positive.
(15:23):
So, yeah, that would beprobably my choices in an
elevator.
Speaker 1 (15:27):
Very well-considered choices, very strategic
conversations.
I would have had between theindividuals as well.
What's one of the most uselesstalent that you secretly have?
Speaker 2 (15:37):
I'm secretly.
I'm full of useless bits ofinformation.
There's a detritus and I'lltell people something and
they'll really Okay let's moveon.
Speaker 1 (15:47):
Love it, love it.
Final question looking back atyour career and I mean that
almost as if you're done, butclearly you're not done.
Clearly, but if you were togive yourself younger self an
advice when you just started out, what would it be.
Speaker 2 (15:59):
I think one of my strengths and weakness, if I
could call it that, is that whenI get into any particular
situation, work or otherwise, Igive it 100, and that is
strength and weakness.
Okay, because what I don't dois think about myself and that
possibly a burnout number one,and then possibly of what my own
(16:21):
future can look like, because Itend to look up, I'm trying to
give the best for whoever I'mdoing work with or for.
I don't try and look aftermyself.
So that's probably what I wouldsay to myself Step back and
think more strategically.
Love yourself, yes.
Think the long term and reallyand I would give this advice for
(16:41):
any young person now whoeveryou work for will only look
after themselves.
You need to look after yourselfas well.
Great advice, great advice,great advice.
Speaker 1 (16:50):
Well, Raymond, thank you so much for your time.
It's been a brilliantconversation.
Speaker 2 (16:53):
Thank you, Charles.
Speaker 1 (16:54):
Have a good one to the rear and continue to do so.
Speaker 2 (16:57):
No, thank you.
I've enjoyed my career and hopeto keep on contributing to the
bank and keep on contributing tofriendships like yourself,
likewise Fantastic, thank you.
Speaker 1 (17:08):
Thank you for listening in on.
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