This feature is in our weekly Monday Morning Report newsletter, which showcases our highest-level members. Leaders You Should Know highlights community leaders who are making a notable impact in the Nashville region.
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Tell us about yourself?
Dave Walton is a senior vice president of Caterpillar Inc. and president and chief executive officer of Caterpillar Financial Services Corporation (Cat Financial). He joined Cat Financial in 1989 and held roles in credit, portfolio management, and sales. In 2005, Dave became vice president of Cat Financial’s Asia Pacific operations, based in Singapore, and in 2012, was vice president of North America. He has served in his current role as Cat Financial president since 2017. He serves on the United Way of Metropolitan Nashville board, Nashville Chamber of Commerce board and FM Global board. Dave is passionate about community outreach and forming connections to build a future talent pipeline for Caterpillar. In addition to his board memberships, he is involved in various organizations and programs that provide youth with the opportunity to learn more about the financial services industry.
Tell us about your business and industry?
Cat Financial is a subsidiary of Caterpillar, the world’s leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. Cat Financial provides a wide range of financing solutions to customers and Cat® dealers for machines, engines, Solar® turbines, genuine Cat parts and services. Headquartered in Nashville, Tennessee, Cat Financial serves customers globally with offices and subsidiaries located throughout North and South America, Asia, Australia, Europe and Africa.
What should we know about you?
Dave was born in Illinois. He ran track for Indiana University. Married to Karen with two adult daughters. Dave and his family are avid soccer fans and have traveled around the world to watch the sport. They are Nashville Soccer Club season ticket holders. Dave is a collector of hobbies. He enjoys getting hyper focused on a topic, learning everything he can about it, and moving on to the next one. These hobbies range from studying history to playing sports, music and reading. His current hobby is working on a farm property, where he has his first piece of Cat equipment, a skid steer.
How did you get to your current position?
Joined Cat Financial in 1989 as a collector and took on various roles in credit, portfolio and sales. This included sales positions in the U.S. and international assignments in Europe. Dave was a vice president of Cat Financial Asia and vice president of Cat Financial North America before being named president and senior vice president in 2017.
What value do you see in Chamber involvement?
Being involved in the Chamber has multiple benefits. Networking and connecting with other community business meetings is extremely important. Together, we are able to stay aware and involved with the issues that are most important for our city, growth, economy and residents. We also value the Chamber for the opportunities to connect with industry counterparts and engage with potential talent.
What is your leadership style? How does that motivate yourself and your team?
Build yourself a reputation as an exporter of talent. I tell my team not to be a “Hotel California,” like the Eagles song. “You can check out any time you like, but you can never leave.” You have to be willing to develop others and know when it is time to let them go. It will happen when they are ready – not necessarily when you are ready. This can be tough, but you will find yourself with an opportunity to strengthen your team by backfilling with a fresh set of skills and a new perspective.
I also tell my team that you have to find the right cultural fit and the most successful team members are the ones who are able to see their role in your overall mission. This also leads to meaningful work, which is important for engagement. Know individual career aspirations and provide development opportunities to support those goals.
What local non-profit has a mission that resonates with you?
Cat Financial is a proud supporter of United Way and a seven-time recipient of the Iris Circle Award, the top award for campaign donations and participation. In addition to an annual employee campaign every fall, we host quarterly breakfasts which include a United Way partner agency speaker and an interview with a community business leader. These experiences show the year-round work of United Way and partner agencies and encourage volunteerism and advocacy in our community. Dave also serves on the United Way board.
How is education evolving, and how is that reflected in your day-to-day? How do you envision the future of higher education?
At Cat Financial, we have been intentional about providing opportunities for untapped talent in our community.
The Cat Financial Information Services (IS) department has partnered with Nashville State Community College and the State of Tennessee to develop an IS apprenticeship program. To date, four students majoring in information technology have been hired and joined Cat Financial as part of a 20-month apprenticeship. They attend classes at Nashville State to pursue their associate degree, as well as put their learning to use as they work with IS part-time.
Creating an apprenticeship program provides Cat Financial with an innovative approach to bringing in diverse talent and gives the college an effective strategy to connect with a local employer. The IS team is excited to start this new program and looks forward to the success of this partnership.
Another initiative Cat Financial has participated in is the neurodiverse talent initiative. Our information services and business teams have contracted with The Precisionists, Inc. (TPI), a Wilmington, Delaware-based company focused on delivering world-class service to its clients through best practices and proactive engagement of its talented neurodiverse and neurotypical consultants, announces the expansion of its neurodiversity employment program in Nashville, Tennessee.
Since entering the Nashville market pre-COVID, TPI has partnered with several organizations locally, like UBS, Vanderbilt University, and the Vanderbilt University Frist Center for Autism and Innovation, by delivering IT and business support services to these organizations.
Additionally, Cat Financial is involved with multiple organizations that promote business literacy to local youth, including a Backfield in Motion summer curriculum, youth career day co-sponsored with the Nashville Soccer Club, and Junior Achievement. Cat Financial also sponsored the Be Pro Be Proud mobile career lab, which exposes students across Tennessee to trades like manufacturing, heavy equipment, and truck driving.
What do you like to do in your spare time outside of work? Where will we find you on the weekends?
Outside of work, Dave can be found at a Nashville Soccer Club match, trying local restaurants, or doing outdoor projects with his Cat skid steer.
