How Jacqueline Reses Became a Fintech Powerhouse
Let’s talk about Jacqueline Reses, the CEO of Lead Bank, who’s shaking things up in the world of fintech. Her journey is a fantastic mix of hustle, grit, and visionary leadership that started on the boardwalks of Atlantic City.
A Gritty Childhood Sparking Entrepreneurial Spirit
Jacqueline, or Jackie as her friends call her, describes her upbringing as “pretty gritty.” Alongside her brother, she ran carnival games—yes, actual games on the Jersey Shore. Talk about hands-on experience! By 14, she was living a quasi-independent life, already showing signs of that entrepreneurial spirit.
She reminisces, “I think the thing that really drove me was my own desire to succeed.” That determination was fueled by a need for security and self-reliance. And boy, did it pay off!
From Goldman Sachs to Fintech Leadership
After those carnival days, Jackie went on to study at Wharton, which set the stage for her role at Goldman Sachs. She says the lessons learned there laid a solid foundation for her future leadership style. Fast forward a bit, and she joined Square, transforming it into a banking powerhouse from the ground up. She built the company “from the first line of code,” showing that her career path was anything but conventional.
In 2022, she achieved her dream of owning a bank by purchasing Lead Bank in Kansas City. Her goal? To create a solid infrastructure that would better serve fintech companies—a critical need she saw in the industry.
Making Waves During COVID
Remember the early chaos of the pandemic? Jackie was right in the thick of it. She reached out to then-Treasury Secretary Steve Mnuchin and advocated for fintech’s role in distributing emergency funds to small businesses. Talk about pressure! She led her team to develop a product in just two weeks that would serve millions.
“The intensity of that experience is something I’ll never forget,” she states. With fintechs like Square, they had the unique ability to connect with small businesses that traditional banks often overlooked.
Repairing Relationships at Yahoo and Alibaba
Before her fintech fame, Jackie tackled a different beast at Yahoo, working to mend a troubled relationship with Alibaba. She hit the ground running, quickly securing a 15% stake in the Chinese giant—eventually worth a mind-boggling $40 billion once they went public.
Her approach here? Coming in with fresh eyes and a willingness to start over, without being bogged down by the previous baggage.
A Lifelong Learner
Jackie has never shied away from challenges. Whether it’s running carnival games, taking on big roles at tech giants, or owning a bank, she embraces new ventures head-on. She openly shares lessons learned along the way: “Leading companies and pivoting to the next big idea is all part of the journey.”
To catch more of Jackie Reses’ inspiring story and her thoughts on leadership, check out the full interview in the CNBC Changemakers series. It’s packed with insights that anyone with ambitions in business should not miss!
Keep an eye on this powerhouse—her entrepreneurial journey is just getting started!
