Introducing New WBA Chair Alvaro (Al) Araque
By Katie Reiser
June 5 marked the beginning of Alvaro (Al) Araque’s term as Chair of the Wisconsin Bankers Association’s (WBA) Board of Directors. Araque has been with Johnson Financial Group since 2021 and serves as SVP, director of consumer, private, and business banking. “During my five years on the Board, I have witnessed the incredible impact WBA has on the banking industry,” he said.
The theme for his term is “impact,” and he is determined to encourage more members to use the resources and support offered by WBA to magnify that impact. “One of the easiest ways to amplify our impact is to participate in the many programs or services WBA has to offer,” he noted. That participation can come in many forms: viewing webinars, attending WBA conferences, calling the Legal Team, tapping into the helpful content on WBA’s website, serving on committees, or providing financial literacy education in your community.
After the board installation ceremony, Araque met with WBA staff to share his background, workplace priorities, and gather insights from employees; clearly demonstrating his emphasis on listening and exchanging ideas.
Araque’s main priorities at work are people — both colleagues and customers — and performance. He believes involvement in WBA can help with both. Investing in people through professional development and education will positively impact their performance and that of their financial institutions. “I prioritize effective communication and focus on relationships before tasks,” he explained, emphasizing the importance of truly listening to understand, as opposed to listening to respond. “When you really take the time to listen to understand, you are in a better position to make a difference.”
He credits Al Ritter’s book “The 100/0 Principle: The Secret of Great Relationships” for some of his own growth. “In a 100/0 relationship, we take 100 percent responsibility for the relationship without expecting anything in return,” he said. “By taking complete ownership without expecting reciprocity, you’ll find it (unexpectedly) comes back to you two-fold.”
Originally from Hoboken, New Jersey, Araque graduated from Denison University in Granville, Ohio, with a Bachelor of Arts in economics and minor in studio art. A counselor suggested managing an art museum, which clearly was not what Araque ended up pursuing.
What ended up being his next move was the gratifying work he found helping customers reach their financial goals as a universal banker at a First Chicago NBD branch inside a Dominick’s grocery store.
Araque almost became a financial advisor but opted to pursue management at local and national levels spending nearly 23 years with the bank that ultimately became JP Morgan Chase. His career trajectory with Chase had him frequently crossing the country opening branches and working on relocations and consolidations. As national director of in-stores, his portfolio had an impressive 400 branches. He was later drawn to Johnson Financial Group because of their culture of integrity, commitment to customers, and presence in the community; priorities that shape his work.
The Araque family moved to Wisconsin in 2014 and quickly fell in love with the state. While Araque remains loyal to east coast teams like the Giants and Yankees, he has become a fan of the Bucks. He is clearly proud of his family. His daughter is studying marketing at Long Beach State, and his son, who recently graduated high school, will be studying theater at the University of Minnesota. In his installation speech, he thanked his wife Christina and the spouses/partners of WBA Board members for their support. “We could not do this without their encouragement,” he said.
Araque often describes the ripple effect banks have in their communities and encourages members to get involved in WBA’s Power of Community week. He is actively involved in his community, serving on the boards of the Penfield Children’s Center, Hispanic Professionals of Greater Milwaukee (HPGM), and Employ Milwaukee Financial Advisory Board.
Not afraid to step outside his comfort zone, Araque relayed a story about representing Johnson Financial Group in the Milwaukee’s Stars Merengue event in 2021. As a brand-new employee, he won the mirror ball trophy in this Dancing With the Stars-inspired competition and helped raise $700,000 for Cristo Rey Jesuit High School.
Rose Oswald Poels, WBA president and CEO, shared a colleague’s description of Araque as “sunshine coming into a room.” Oswald Poels praised his unsurpassed enthusiasm and approachable nature. That enthusiasm, coupled with his extensive industry experience, will help amplify WBA’s reach across the state.
