SunTrust’s Jay Murray Sees Opportunity for Continued Growth in Augusta Market
Monday, June 5th, 2017
According to SunTrust Bank the future is very bright for small and mid-market businesses. SunTrust recently released findings from its annual Business Pulse Survey and the results show nearly two-thirds of business leaders expect the global and U.S. economy to improve through 2017. And while that’s great news, an even more impressive figure is that 75 percent of middle market (annual revenue of $10-150 million) and small business (annual revenue of $2-10 million) leaders feel their business outlook is strong.
Jay Murray, Augusta market president for SunTrust Bank, says those numbers are right on the money for what he sees locally. And he would know. Not only does Murray have his finger on the pulse of commerce in Augusta, he says his extensive experience as a small business owner in Augusta for 17 years gives him an edge in understanding the needs of his clients.
And it’s that connection to the roots of Augusta business where Murray says he feels the most confident.
“When I am sitting across the table from a client, I’m approaching their banking needs from a different perspective than my counterparts, because I’ve been that person sitting in that chair. In certain respects, that gives me an advantage. I understand what business owners face on a daily basis.”
When asked what he sees specifically in terms of business strength and growth in the Augusta area, Murray is quick to rattle off a lengthy list of resources.
“One initiative that is especially helpful in our local market is the advent of the cyberspace technology business we see coming to Augusta, especially the mission at Fort Gordon where the Army’s cyber command is being relocated. This has created numerous opportunities for contractors who support that space. In addition, The State of Georgia recently announced a $50 million Cyber Innovation and Training Center in Augusta, which will bring in several industry leaders and help move our local economy forward.”
Murray also adds that Augusta is a great place to do business because there are tremendous resources made available to small business owners and entrepreneurs who want to grow their company or develop a startup.
“At SunTrust, we have a great opportunity to support these companies - whether it’s in information technology, healthcare or agriculture - we have specialists in all of these industries to consult with our local clients in order to develop industry specific strategic plans to help get their business off the ground or to the next level.”
While Murray states business owners are great at running their business and have vast knowledge of what they do, SunTrust can play a major role by helping them with larger financial matters, such as how to grow their company, how to navigate a mergers and acquisitions or how to launch a new product.
And he adds that his team doesn’t just look at what’s going on with a client’s business today, but what they hope to accomplish in six or even 10 years from now.
“Most businesses have a five year plan, but I like to ask, ‘What’s your six-year plan?’ It gives owners reason to pause and think about it, and then we take that six years and stretch it to 10. It’s important to ask these questions so we know where the business is heading and how we can help.”
And it’s helping clients grow and succeed that Murray enjoys most about working at SunTrust.
“One of the things that really drew me to SunTrust was our company’s overall purpose of Lighting The Way to Financial-Well Being. It really sets us apart in that we are committed to helping our clients succeed. Now we’ve even taken our purpose a step further with our onUp movement, which is designed to inspire Americans to build financial confidence by guiding them with tools for financial success. At SunTrust, we recognize that the most successful businesses have successful employees, and financial well-being is paramount to this. As a company, we are committed to not only helping business owners succeed but are also dedicated to helping them keep their employees happy and successful.”