New York: if you can make it here ... you can branch anywhere! These are the lessons learned in the recent scramble to enter the Big Apple, where the market is both lucrative and competitive. Some of these innovative strategies are spreading to other areas across the nation.

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New York: if you can make it here ... you can branch anywhere! These are the lessons learned in the recent scramble to enter the Big Apple, where the market is both lucrative and competitive. Some of these innovative strategies are spreading to other areas across the nation.

It's strategic planning time. You have decided to enter a new geographic market. Your goal is to reach a specified number of new sites in two years. Now, how are you going to succeed?

One approach is to study the innovative market-entry strategies employed recently in the New York metropolitan area by three rapidly expanding financial services institutions: Commerce Bank, Wachovia and Washington Mutual. All have used the nation's largest urban center as a laboratory to hone their strategies. Each has developed a successful approach based on generating memorable customer experiences.

We spoke with leaders at each of these institutions, asking them to discuss the most important element of their strategy. Commerce Bank talked about its retail approach. Wachovia explained how it goes beyond transaction accounts--by emphasizing financial planning for the middle market. Washington Mutual delved into its use of targeted philanthropy.

Commerce Bank

"Retail Is in the Details"

Vernon Hill, founder and chairman of Commerce Bank, Cherry Hill, N.J., (assets: $15 billion) is not a typical banker. Before starting ...

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