Tom Michaud

speaker

480 appearances 1 recordings 1 series first heard Jun 2026 last heard 3 Jun

Tom Michaud’s voice in public audio — every appearance, attributed to the second.

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recordings per month · last 12 months

Recordings per month over the last 12 months — 1 in all, peaking in Jun 2026 with 1.

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You need Encino.

You need these companies to make sure they're moving fast enough to keep you relevant.

Because the danger is that you've been disintermediated by your client base and you don't know it.

That's the danger because then what will happen is you'll be forced into riskier asset classes and the industry will become less stable.

So J.P.

Morgan is a little bit over 10% with a public goal of being at 15% of the nation's deposits.

Should they be more optimistic?

I mean, my guess is they'll get to 15 and then it'll be 20.

And the way they're doing it is you could see how the execution will happen.

They've got a fantastic fintech digital product.

They go to a big city where the people and the deposits are.

They open 25 or 30 branches that look beautiful.

I've seen them.

And then they compete with the local competition.

And what they don't do is they don't build a branch structure in rural and suburban America.

Where it's expensive to do it because the deposits aren't that rich there in terms of just how deep they are.

But they're not the only ones.

There is a theme in the United States.

Fifth Third, which is a highly successful company, is opening 150 branches in the southeast.

What I find interesting is some of the best banks – Fifth Third is an outstanding company –

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