Robert Isaksen, Business Banking Market Executive for Long Island, Bank of America

The Island Now

Bob is the Business Banking Market Executive for Long Island. Based in Melville, he leads a team of client relationship managers to help locally-based small to mid-sized companies grow, improve cash flow, manage payments and invest for the future. Bob also served as Long Island market president for 17 years, recently stepping down from that role.

Prior to this role, Bob was the Senior Credit Products Manager in Bank of America’s Specialized Industries group, including healthcare, institutions and national sports finance, previous to this role, he was Market Executive for the healthcare and institutions business in the states of NY/NJ/PA.  Earlier in his career, Bob held a number of senior positions at legacy banks, Fleet Bank and NatWest Bank.

Bob holds an MBA in Finance from Pace University’s Lubin Graduate School of Business and a bachelor’s degree in business economics from the State University of New York at Oneonta.

Active in the community, Bob serves on the boards of the Long Island Housing Partnership, HIA-LI.  He also serves on the corporate advisory board for The Long Island MacArthur Airport.

A Setauket, Long Island native, he resides in his hometown.

How do you see your business evolving due to changing times?
Since the start of the pandemic, we’ve seen an acceleration of the trend toward our clients using digital for more and more of their everyday banking needs.

Clients can deposit or send money online, apply digitally for a loan, and even receive guidance from Erica, the bank’s AI-driven virtual financial assistant. Innovation is key to the Bank of America’s growth strategy, and we will continue harnessing the power of technology to deliver cutting-edge digital services.

Reducing carbon emissions will also be central to our business in the coming years. Bank of America is committed to achieving net-zero emissions by 2050 by making our operations and supply chain carbon-neutral, deploying capital to low-carbon, sustainable business initiatives, and collaborating with leaders in business, government, and the nonprofit sector to advance a sustainable economy.

What advice would you give other business owners?
Take advantage of digital tools to streamline your operations and grow your business. Online marketplaces, which have helped many businesses keep their doors open through the challenges of the coronavirus, can boost sales and create loyal customers.

In addition, digital tools for payroll, scheduling, and banking can help save time, lower costs, and improve performance.

Embracing sustainability can help combat climate change while saving your business money. Improving energy efficiency, decreasing water and paper use, and switching to renewable energy can all decrease costs while improving the environment.

Owners should examine their operations and supply chain to identify areas to improve efficiency and reduce waste, saving money while helping preserve the environment for future generations.

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