Every business sector has influential players, whether they are in the public eye or wield their influence behind the scenes. In a monthly feature that runs in the first issue of the month through October, IBJ is identifying those people in eight different categories.
This is the second installment in the series and features women and men who are key members of the city’s banking and finance sector.
Robert E. McElwain, 52
Executive Vice President
Bob McElwain start-ed his banking career in 1980 with American Fletcher National Bank, and he’s stayed with the bank through a succession of mergers as it became Bank One and now JPMorgan Chase & Co.
Straight out of college, McElwain began in the bank’s trainee program and worked his way upward, as a banker, a manager, a credit-approval officer, a division manager and today, as executive vice president and state head of Indiana Middle-Market Banking. In his current position, McElwain directs three division managers and oversees all aspects of the commercial middle-market business in the state. He is especially proud of the way the local Chase team helped clients maintain or grow their assets through the recession.
McElwain earned his bachelor’s in finance from Indiana University and, while he was working for the bank, returned to school to earn his MBA from Butler University. He was born in Illinois and moved with his family to Danville, Ind., where he graduated from high school. Today he, his wife and two children live in Zionsville.
McElwain sits on the boards of the YMCA of Greater Indianapolis and the 500 Festival. He also serves youth in the community as a mentor and volunteer coach. In his free time, he enjoys traveling and fitness activities.
Michael W. Newbold, 56
Indiana Regional President
Huntington National Bank
Mike Newbold joined Huntington National Bank as president of its Indiana Region after Huntington’s 2007 acquisition of Sky Financial Group, where Newbold previously served as regional president for Sky Bank Indiana. Before his position with Sky Bank, he was executive vice president of Union Federal Bank, where he was responsible for retail banking, business banking and wealth management.
Newbold began his banking career in 1976 as a management trainee at the former American Fletcher National Bank, where he worked in a variety of retail and commercial banking positions. After Bank One acquired American Fletcher, he stayed on and was eventually promoted to executive vice president, a position that put him in charge of retail and small business channels in Indiana.
Active in a variety of community organizations, Newbold is an elder at Greenwood Christian Church, a director of the Indianapolis Neighborhood Housing Partnership and a member of the Greater Indianapolis Progress Committee. He serves as a director for the Indiana Bankers Association, the Greater Indianapolis Chamber of Commerce, the Indiana Community Business Credit Corp., Lynx Capital Corp. and Greenwood Community Schools Holding Corp. Newbold obtained his bachelor’s from Ball State University and is a graduate of the Stonier Graduate School of Banking. He and his wife, Bonnie, have two adult sons.
Michael C. Rechin, 52
President and CEO
First Merchants Corp.
Michael Rechin has served as president and CEO of First Merchants Corp. since 2007. A $4.2 billion financial holding company, First Merchants is headquartered in Muncie and has banking operations in central Indiana and Ohio. The corporation operates First Merchants Trust Co. and First Merchants Insurance Services. Rechin joined First Merchants as chief operating officer in 2005.
Before joining First Merchants, Rechin was executive vice president of corporate banking for National City Bank, managing its Indiana operations and overseeing all commercial banking activities. Rechin began his banking career with National City in Cleveland, where he grew up. He relocated to Indianapolis in 1995.
As an active community leader, Rechin is a director of the Indiana State Chamber of Commerce and a director of Lynx Capital Corp. He also serves on the board of trustees at Minnetrista, a museum and cultural center in Muncie, and on the board of governors of the Economic Club of Indiana. He previously served as a director of United Way of Indiana, the Arts Council of Indianapolis, Junior Achievement of Indianapolis and the Indy Partnership.
Rechin is an avid golfer and an all-around sports fan, focusing primarily on Indiana and Cleveland teams. He and his wife, Debbie, have three children and live in Carmel.
John C. Reed, 67
David A. Noyes and Co. Investment Banking Group
As president of David A. Noyes’ Investment Banking Group, John Reed is responsible for all phases of the firm’s investment banking and corporate finance activities, with an emphasis on financial institutions. Founded in 1908, David A. Noyes is a Midwest investment firm headquartered in Chicago. Reed is executive vice president and a board member of David A. Noyes.
Reed specializes in structuring and negotiating mergers and acquisitions and in managing private and public offerings. He has experience and expertise in strategic and capital planning, providing expert witness testimony, designing investor relations programs, performing business valuation studies and rendering fairness opinions.
Reed has spoken before many industry and legal groups. He writes monthly columns for both a national trade publication and a state association magazine and has penned a number of articles for other publications.
Reed grew up in Philadelphia and obtained his bachelor’s in economics from Boston University and his MBA in finance from Rutgers University. He worked at Bache and Co. and Chase Manhattan Bank before joining New Jersey-based Ryan, Beck and Co. in 1976. At that company, he directed all phases of bank-stock research and investment banking activities for banks and thrifts. He led public offerings and other capital financing and directed a wide array of financial advisory services. In 1985, he founded and became president of Ryan Beck and Co./Mid-States and senior vice president of its parent firm, a move that brought him to Indianapolis to open an office. He joined Noyes in 1991.
Reed is married and has two grown daughters. His passions are bicycling and sailing and he just marked a significant milestone, his 50th sailing trip.
Randall D. Reichmann, 54
Old National Bancorp
Randy Reichmann has been with Evansville-based Old National Bancorp for five years. As president and CEO of the Indianapolis region, he is responsible for 50 retail branches, corporate and commercial banking, in-vestments, trust, mort-gage and private bank-ing. He oversaw the integration of more than 50 Charter One branches when ONB purchased them in 2009 and is currently working on the integration of Monroe Bank.
Reichmann grew up on a large dairy and hog farm in Carlinville, Ill., and began his career working for the Farm Credit System, a network of financial cooperatives owned predominately by farmers and ranchers. After five years, he moved to Arizona to work for Valley National Bank, which was eventually bought by Bank One. He relocated to Indianapolis with Bank One in 1997 and has since managed a variety of commercial banking groups.
An advocate for kids, Reichmann recently joined the core planning team for the Indiana Youth Institute’s Indiana Mentoring Partnership, an initiative devoted to providing a mentor to every child in need of one in the state. He also sits on the boards of directors for the Boys and Girls Club of Central Indiana, where he also serves as a mentor; the Greater Indianapolis Progress Committee; Indianapolis Neighborhood Housing Partnership; Central Indiana Certified Development Corp.; Skyline Club; and Center for Leadership Development. He is a cabinet member of the United Way of Central Indiana.
Reichmann and his wife, Kim, have three children.