Lisa Gardner chats with Hugh Allen, the newly appointed Head of U.S. Commercial Real Estate at TD Bank about business ethics, and how to balance it against the need for profit.
Hugh shares his journey from a commercial real estate lender to a leader of leaders, highlighting the evolution of his leadership style. He also dives into the importance of personal values in leadership, the impact of corporate culture, and the complexities of ethical decision-making in the banking and real estate sectors. Hugh discusses his collaborative approach, the significance of intellectual curiosity, and the vital role of trust in building and maintaining strong teams.
Also in this episode:
- Collaborative Leadership Style: Hugh emphasizes a collaborative approach to leadership, encouraging his team to work with him rather than for him, fostering an environment where team members can stretch themselves and remain intellectually curious.
- Adaptability and Proactivity: Successful leadership requires the ability to be both reactive and proactive, adjusting in real time to changes while always thinking ahead, akin to "executive athleticism."
- Ethical Decision-Making: The decision-making process involves considering all perspectives and maintaining a strong ethical foundation, influenced by principles from "The Art of War." This approach helps navigate tough decisions, especially when balancing deep client relationships and organizational expectations.
- Building Trust: Open communication, honesty, and ensuring that team members feel heard and valued are crucial for building and maintaining trust within the team and with stakeholders.
- Alignment with Corporate Culture: TD Bank's culture of focusing on colleagues, communities, and clients aligns well with Hugh Allen's personal values, emphasizing the importance of people and relationships in achieving business success.
- Balancing Stakeholder Interests: In the commercial real estate sector, it's vital to balance profitability with ethical considerations and community impact, such as addressing housing affordability while meeting shareholder expectations.
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About Hugh Allen
Hugh Allen, based in Charlotte, N.C., is the TD Bank SVP & CRE South Division Head for the Carolinas & Georgia. His team offers construction and mini-perm loans, as well as various deposit services to developers and real estate owners in the Carolinas, Southern Virginia, and Georgia. With over 25 years of commercial real estate experience, Hugh began his career in Houston with Coldwell Banker in 1986 and entered banking with PNC Bank in 1989, eventually taking on roles at First Union and Wachovia, where he became managing director of Mid-Atlantic Commercial Real Estate. He joined TD Bank in 2014. A University of Texas graduate with an MBA from Duke University's Fuqua School of Business, Hugh is involved in organizations like the Urban Land Institute and The Real Estate Roundtable. He also co-founded BP Basketball, Inc., a non-profit mentoring youth through basketball, and supports various community initiatives. Hugh lives in Charlotte with his wife Natalie and their children, Andrew and Chloe.
About Lisa Gardner
Lisa Gardner is a corporate real estate thought leader and co-founder of OMS Strategic Advisors, LLC, focusing on real estate, strategy, and workforce development. With over 25 years of experience, she drives profitability by optimizing human capital, leading diversity initiatives, and crafting corporate
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