Waste World - Episode 60: Relationships Win & What Fifth Third’s Comerica Deal Means for the Industry
Bank mergers are usually covered in terms of size, speed and regulatory approval. Yet sometimes the most important part is what they mean for the industries those banks serve.
That’s what makes this conversation with Joe Ursuy, Executive Vice President, National Businesses for Energy, Renewables, and Waste, so valuable.
Following Fifth Third’s acquisition of Comerica, Ursuy finds himself leading an expanded platform at a larger institution. “It’s been a fantastic last few months,” Ursuy said. “There’s been a lot of team get-togethers and relationship building.”
And the word “relationships” came up again and again in our discussion. For Ursuy, the deal gave his team the ability to grow alongside some clients who have gotten bigger and more complex.
“The combination allows us to do some different things, particularly on the environmental and the waste sides,” he said, pointing to larger deals and expanded capabilities.
Ursuy is quick to point out that more capabilities don’t change the fundamentals. “Banking and lending—it’s not a complicated activity,” he said. “There are thousands of banks in this country.” So what separates one from another? “Do you add value, and do you have relationships?” Ursuy said. “And are you able to work with the best people in a certain industry?”
That mindset is shaping how he approaches integration by building trust across teams and with clients. “It starts at the top,” he said. “I have to talk to them about my values… the standard that I want our teams to be held to.”
Those standards are grounded in growth. Ursuy described both legacy businesses as strong performers and made it clear the goal now is simple: “We want to grow… and we have the scale to grow faster.”
For waste and environmental companies, that could mean more access to capital, more sophisticated financial tools and the ability to pursue larger, more complex projects.
But Ursuy’s message is that none of that replaces the basics. “If you can help solve their problems… beyond just lending money,” he said, “they’re going to be a loyal [partner] forever.” In an industry built on long-term relationships, that may be the most important takeaway from this deal.
Be sure to follow and subscribe to the Waste World podcast on Spotify [https://open.spotify.com/show/0o0NUDC6kDM69khJZFZgJQ?si=2F0Fjyu5Sd-o9xCYmO_bvg&nd=1&dlsi=eb0b292027894bb4] and other podcast services. Also, watch the video version of the Waste World podcast on WasteExpo’s YouTube page [https://www.youtube.com/@wasteexpo1212].
