Skip to Main

Steve Thogmartin joined the New York office of the Boston Consulting Group in 1998. He leads BCG's Financial Institutions (FI) practice in North America, and heads the firm's Regional Bank Transformation team in North America.

Steve has worked extensively with banks, wealth managers, and payments companies on a wide range of strategic and operational topics. He has particularly deep experience in strategy development, target-operating-model development, organization transformation, digital multichannel strategies, cost transformation, and sales force effectiveness.

In the banking sector, he has worked with leading retail and commercial banks, credit card issuers, payment networks, and wealth managers.

Before joining BCG, Steve was a business analyst with Deloitte & Touche Consulting in the management consulting practice.

AREAS OF EXPERTISE

EDUCATION

  • MBA, Wharton School of the University of Pennsylvania
  • MA, international studies, Lauder Institute, University of Pennsylvania
  • BS, mechanical engineering, summa cum laude, University of Michigan College of Engineering

HONORS AND AWARDS

  • Palmer Scholar, Wharton School of the University of Pennsylvania
  • Member, Tau Beta Pi
  • Member and class president, Pi Tau Sigma, University of Michigan College of Engineering

Publications and Videos

" "

How Bank CMOs Can Do More with Less

A laser-like focus on transforming marketing for efficiency can be the elusive key to unlocking effectiveness and growth as well.
" "

What’s Next for US Banking Consolidation in the Post-COVID-19 World?

The pandemic is pumping the brakes on M&A, but activity will rebound and likely accelerate. Banks should be bold and ready.
how-north-american-banks-can-revive-shareholder-value-rectangle-tcm9-230959.jpg

How North American Banks Can Revive Shareholder Value

Regulators are loosening some constraints on large banks, creating an opportunity to boost TSR by transforming the business mix. Banks may want to sharpen their M&A skills.
2012-new-new-normal-1116x626-tcm9-103950.jpg

The “New New Normal” in Retail Banking

In order to thrive in a market environment we call the “new new normal,” retail banks must take bold steps—among them, becoming more customer-centric.
building-highpowered-branch-network-retail-banking-art-illustr-large-tcm9-120473.gif

Building a High-Powered Branch Network in Retail Banking

The so-called Great Recession of the past two years has created unprecedented challenges for retail-banking branch networks. In many markets, regulatory moves are putting pressure on fees, with unfavorable deposit spreads and poor consumer-credit quality compounding the difficulties. Branch-driven revenue growth is becoming harder and harder to achieve. Many banking executives, faced with a deteriorating revenue model and an expensive branch infrastructure, are responding by closing branches and adjusting staffing—while simultaneously looking for ways to improve sales productivity.