Free Objection - District Court of Arizona - Arizona

EXHIBIT 1
N;-
Case 2:03-cv-02262-ROS Document 298-3 Filed O9/O1/2006 Page 1 of 4

UNITED STATES SISTRICT COURT
FOR THE DISTRICT OF ARIZONA
KAYE HUTTON, as an individual )
and as representative of a )
class consisting of others }
similarly situated, )
}
)
Plaintiffs, )
)
vs, ) Case No. CIV03—2262 PHX ROS
)
)
BANK OF AMERICA, N.A , )
)
)
Defendant. )

DEPOSITION OF STEVE CORTOPASSI
Phoenix, Arizona
May 20, 2005
9 : 5 Z1. ét . m .
REPORTED BY: I _f- -‘`. -*
RABIN“ CASTRO, RPR, CCR #§!” »==‘· ·——` 2 , _
CERTI FI ED COURT REPORTER GRIFFI
CCR #50653 . -
PREPARED 666, ‘`‘*E‘t 6 ‘IC‘§‘ I , , SS%*I@S
MR. CHARLES L. CHESTER ` °”"”“““
{COPY) Ceniral Avenue
Rhuenix. Arizona 85012
T 602 264 2230
666 529 6660
6 602 264 2245
Case 2:O3—cv—O2262—ROS Document 298-3 Filed O9/O1/2006 Pageizi @if¥i4|’&D0i'iEI’5 COIT}

159
BEPOSITION OF STEVE CORTOPASSI — 5~2G—O5
1 to do the work themselves less.
2 Q. Is it —» I’ve heard the phrase that the client
3 managers or relationships -— you made reference to
4 development and trust. Obviously we've seen a number of
5 documents relating to sales and increasing the sales and
6 revenues and what have you.
7 Is there a ~— is there a philosophical approach to
8 the target clients that —— that in your mind's eye would
9 define the ~— the job the client manager is to do and
10 what -— how that job leads to benefitting the bank?
11 A. Yes. Again, trusted advisor —— if you think of
12 a »» a pyramid of skill sets, many times a client manager
13 or »» I'm sorry —— a client has need for an order—taker, has
14 need for someone that does nothing more than, "I know what I
15 need. Just take care of it.” So that's, if you will, the
16 bottom of the pyramid. That’s —— most of the time the
17 ciient is ew has that kind of a need. And a personal banker
18 or a telephone call certainly typically can support that
19 kind of a need.
20 As you go up that pyramid, it —- it realiy was the
21 peak of that pyramid that we were looking for our client
22 managers to attain, which is a role, again, which they were
23 so in tune anticipating the client’s need.
24 And because of the questions that were asked, the
25 knowledge they had of the client’s life goals and financial
GRIFFIN & ASSOCIATES — 502.26%.2230
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160
DEPOSITION OF STEVE CORTOPASSI — 5—20—05
1 goals, that they could, via quarterly checkups, check in
2 with the client, get an assessment as to where they were ~»
3 be part of that trusted advisor, like working with their
4 CPA, working with an investment specialist —— to —~ to truly
5 proactively help the client make sure they were on the road
6 to the financial goals that they were wanting to achieve.
7 Again, it's a ~— it's a very different component
8 than the client saying, you know, "I need a checking
9 account. Open it for me.“ 1t's ~— it‘s a trusted advisor.
10 1t's a proactive, engaged, almost member of the family.
ll I can think of commercials of other companies on
l2 TV that, "We could build that house now," and it turns out
13 to be a trusted advisor and not the husband that’s saying
14 those things. And that's the kind of role we're wanting our
15 client managers to be.
16 Q. Would there be occasion that a client manager
17 would -- would recommend a product other than a bank
18 product?
19 A. There would be cases where that would be true.
20 Q. what would be examples?
21 A. A situation, again, where another product or
22 another company's product would be more appropriate, or
23 perhaps where the bank didn’t even offer »»
24 I think, for example, in the trust and estate area
25 there were many times that ·— that clients were referred to
GREFFIN 8i ASSOCEATES -— 602.264.223O
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