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He climbs Yosemite National Park's Half Dome once a year, is a certified scuba diver and took up surfing at the age of 53. CPB chief
Profile
takes on challenges
at work and playBy Dave Segal
dsegal@starbulletin.comNow, Clint Arnoldus, the new chairman, chief executive and president of Central Pacific Bank parent CPB Inc., is facing a different kind of challenge.
He is the first non-Japanese to lead the 48-year-old bank.
The decision to break from tradition and go outside Japanese management was made by the board of directors after Sumitomo Bank, which had supplied management to CPB and been a large shareholder, sold its remaining stake in the bank last September.
"It was an opportunity for the bank to take all the good things that had been built during those many years with Sumitomo and Sumitomo management and preserve them ... but expand our focus in the market," Arnoldus said.
And that's where the 55-year-old Arnoldus fits in. A 28-year banking veteran with a Mormon upbringing (he served a two-year mission in Germany), his philosophy emphasizes community involvement.
"We had a consultant run some focus groups consisting of business people and also just people randomly called throughout the community," Arnoldus said. "And the overwhelming feedback we got about the bank was the (mistaken) perception that we're just interested in the Japanese. We were founded by veterans of the 442nd and 100th Infantry specifically for the Japanese American community. And it's a heritage we're proud of and a heritage that will always mean a lot to us. But I think looking at today's market, there is an opportunity for us to become Hawaii's bank."
Arnoldus, an outdoorsman all his life, isn't one to sit in the "ivory tower," as he calls it. Rather, he prefers to go into the trenches and make calls with his sales people.
"One of my managing philosophies is that change has to be led from the top, so I'll be making more calls than anybody," he said. "I've carved three days of my week out to be in the market calling with our officers on customers and prospects. That's not a program, that's a culture. That's who we are."
Arnoldus said his first mission is to make clear to people that the bank does a lot of business outside the Japanese American community. He also said he needs to get across the message that the bank intends to focus on all spectrums of the business market as well as retail customers.
"I think we've got a great service culture that's been here since the bank was founded that the industry is losing," he said. "We're going to use service as the differentiating factor in the marketplace. The bank that the market will see is a very loyal, personable, down-to-earth bank that provides great service. And who wouldn't want to deal with a bank like that?"
Arnoldus also said he intends to increase the number of branches at the publicly traded bank from its current total of 24. A 25th branch is scheduled to open in October in a shopping mall in Kihei, Maui. He also said he plans to open one or more branches a year on Oahu to address the business market.
The CPB chief's energetic approach stems from his youth. He was stricken at the age of 10 with rheumatic fever, an infectious disease marked by fever and inflammation of the joints that can cause permanent damage to the heart valves.
"I was actually in bed for a year," he said. "I lived in a rural area and did a lot of fishing with my friends and tubing down the river. We were always outside. I guess I felt I had to make up for lost time. In addition to the year in bed, there was a year I couldn't do anything but walk. I couldn't run. I couldn't ride a bike. I couldn't play sports. I came out of that two-year ordeal with a drive to do as many things as I could do."
He eventually went to Brigham Young University and married Lesley, a fellow German literature major who competed on the BYU swim team. They ended up having six children; all of whom are active in the outdoors.
"It's the way our family has always been," Arnoldus said. "Everything is oriented to the outdoors. Once a year, our family will climb a structure called Half Dome. We do it in one day. It's 17 miles and 5,000 vertical feet. You end up going up cables to get up Half Dome. It's really a grueling hike but it's one of our favorite things we do."
Arnoldus, who had several national and international stops during his career, was working at Pasadena, Calif.-based Community Bank when the Hawaii opportunity came along.
"Hawaii was always our favorite vacation destination," Arnoldus said. "I had a daughter who went to school here her freshman year at (Hawaii Pacific University). So we were fairly familiar with Hawaii. We wanted to eventually retire here but I was not counting on actually living here until that time came. I got a call from an executive recruiter when I was at work in Southern California who told me about this opportunity. And it was intriguing enough to take a look at. The more I looked at the bank and what a great institution it is, running a great institution and living in Hawaii is not a bad gig. So I really jumped all over it."
Arnoldus, who bought a home in Diamond Head, already has been scuba diving and surfing. He plans to catch a lot more waves when his household shipment -- and his surfboard -- arrives May 7.
"I've only been out once on a rented board," he said. "I have a huge board. It's 11 1/2 feet long and 4 inches thick. My son calls it the love boat, and I need that for float when the wave catches me. I'll be doing a lot more when my board gets here."
Although Arnoldus also snow and water skis, he never expected to take up surfing. But an invitation from his then-15-year-old son was too good to pass up.
"I thought it was well beyond me, being 55 years old, but my son started surfing a couple years ago and he wanted me to get involved with him," Arnoldus said. "And who can pass up that kind of invitation from a teenager? It doesn't happen very often, so I jumped all over that.
"I'd call myself more of a cruiser than a surfer but I can get up and ride in. That's the important thing. I'm not doing 30-foot waves on the North Shore, I can assure you. Those gentle waves of Waikiki -- that's my speed."
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>> Company: Central Pacific Bank Inc. Clint Arnoldus
>> Title: Chairman, president and chief executive officer
>> Age: 55
>> Past positions: Chairman, president and CEO, Community Bank, Pasadena, Calif., 1998-2001; chairman, president and CEO, The Bank of New Mexico, 1996-98; chairman and CEO, First Interstate Bank of Nevada, 1993-96.
>> First job: Age 16. "I was a delivery boy for a company that sold discount coupons to restaurants. It was a commission job, and I used my own car for deliveries. A telemarketer would make the contact, but I had to close the sale. After my first day, I calculated how much I had sold versus how much I had spent on gas and wear and tear on my car. I made 5 cents for the day! The pattern continued for a week, so, needless to say, I quit and moved on."
>> Education: B.A., German literature, Brigham Young University, Provo, Utah; Master of International Management, American Graduate School of International Management at Thunderbird, Glendale, Ariz.
>> Family: Wife, Lesley; sons, Ted (26), Brad (17); daughters, Jennifer (30), Nicole (28), Christine (22), Alison (21); six grandchildren
>> Born: Salt Lake City
>> Hobbies: Scuba diving, surfing, backpacking, car restoration, water and snow skiing, reading, motorcycle riding