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Barbara Ann Lumpkin

Banker and former public official Barbara Ann Lumpkin was born Barbara Ann Madlock on July 27, 1950 in Oxford, Mississippi to Estella and John Lewis Madlock. She attended Green Hill Elementary School and graduated from North Panola High School in 1968, where she excelled in theater. Lumpkin earned her A.A. degree from Coahoma Community College in 1970, and after moving to Chicago, she took additional business administration courses at DePaul University.

Lumpkin began her career in banking as an assistant recruiter in the human relations department of Chicago’s Continental Bank. Gaining a front line banking job in 1980, she served in the bank’s Personal Financial Services Group. In 1985, Lumpkin moved to the Corporate Trust Department, where she rose to the position of senior vice president and corporate trust manager. After joining Amalgamated Bank in 1994, Lumpkin was certified as a corporate trust specialist by the Canon Financial Institute. In 1995, Lumpkin became Chicago’s City Comptroller and, in 1998, the City’s Budget Director. In 1999, an investigation forced the City Treasurer out of office, and Chicago Mayor Richard M. Daley appointed Lumpkin to the position of City Treasurer. She was later appointed a special assistant to Mayor Daley. In 2000, Lumpkin left this position to become senior vice president in the Corporate and Institutional Services business unit of Northern Trust Bank.

In 2005, Lumpkin was called to serve the City of Chicago as the City of Chicago’s Chief Procurement Officer when it was revealed in early 2005 that Chicago was underperforming in its employment of minority contractors. Lumpkin was responsible for implementing promised improvements. In addition, she leads the City’s Minority, Women and Disadvantaged Enterprise Initiative. She is also an advisory board member of the United Negro College Fund and has publicly endorsed career opportunities in the financial and banking worlds for rising students. Lumpkin is a member of the Chicago Finance Exchange and the Urban Bankers Forum.

Lumpkin was interviewed by The HistoryMakers on August 18, 2006.

Accession Number

A2006.099

Sex

Female

Interview Date

8/18/2006

Last Name

Lumpkin

Maker Category
Middle Name

Ann

Schools

DePaul University

Coahoma Community College

Greenhill Elementary School

North Panola High School

First Name

Barbara

Birth City, State, Country

Oxford

HM ID

LUM02

Favorite Season

Summer

State

Mississippi

Favorite Vacation Destination

Puerta Vallarta, Mexico

Favorite Quote

Always Respect Self And Others.

Bio Photo
Speakers Bureau Region State

Illinois

Birth Date

7/27/1950

Birth Place Term
Speakers Bureau Region City

Chicago

Country

United States

Favorite Food

Thanksgiving Dinner

Short Description

Bank executive and city treasurer Barbara Ann Lumpkin (1950 - ) was the former chief procurement officer for the City of Chicago, and served as city comptroller and budget director. In the private sector, Lumpkin worked as senior vice president and corporate trust manager for Continental Bank in Chicago.

Employment

Continental Bank

City of Chicago

Northern Trust Company

Favorite Color

Black, Shades of Gray

Timing Pairs
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DAStories

Tape: 1 Story: 1 - Slating of Barbara Ann Lumpkin's interview

Tape: 1 Story: 2 - Barbara Ann Lumpkin lists her favorites

Tape: 1 Story: 3 - Barbara Ann Lumpkin describes her mother's family background

Tape: 1 Story: 4 - Barbara Ann Lumpkin describes her mother's upbringing in Sardis, Mississippi

Tape: 1 Story: 5 - Barbara Ann Lumpkin describes her father's family background

Tape: 1 Story: 6 - Barbara Ann Lumpkin describes her mother's personality

Tape: 1 Story: 7 - Barbara Ann Lumpkin describes her earliest childhood memory

Tape: 1 Story: 8 - Barbara Ann Lumpkin describes the sights, sounds and smells of her childhood

Tape: 1 Story: 9 - Barbara Ann Lumpkin describes her community in Sardis, Mississippi

Tape: 1 Story: 10 - Barbara Ann Lumpkin narrates her photographs, pt. 1

Tape: 2 Story: 1 - Barbara Ann Lumpkin describes her experiences at Greenhill Elementary School

Tape: 2 Story: 2 - Barbara Ann Lumpkin describes her teachers at Greenhill Elementary School

Tape: 2 Story: 3 - Barbara Ann Lumpkin recalls the Civil Rights Movement in Mississippi

Tape: 2 Story: 4 - Barbara Ann Lumpkin describes the school system in Sardis, Mississippi

Tape: 2 Story: 5 - Barbara Ann Lumpkin describes segregation in Mississippi during the 1960s

Tape: 2 Story: 6 - Barbara Ann Lumpkin describes her high school experiences, pt. 1

Tape: 2 Story: 7 - Barbara Ann Lumpkin describes the role of music in her childhood

Tape: 2 Story: 8 - Barbara Ann Lumpkin describes her high school experiences, pt. 2

Tape: 3 Story: 1 - Barbara Ann Lumpkin recalls barriers to her aspirations for a business career

Tape: 3 Story: 2 - Barbara Ann Lumpkin describes her experiences at Coahoma Community College

Tape: 3 Story: 3 - Barbara Ann Lumpkin recalls visiting Chicago, Illinois in her youth

Tape: 3 Story: 4 - Barbara Ann Lumpkin recalls joining Continental Bank in Chicago, Illinois

Tape: 3 Story: 5 - Barbara Ann Lumpkin recalls working in human resources for Continental Bank

Tape: 3 Story: 6 - Barbara Ann Lumpkin describes working in financial services for Continental Bank

Tape: 3 Story: 7 - Barbara Ann Lumpkin recalls the 1983 mayoral campaign of Harold Washington

Tape: 3 Story: 8 - Barbara Ann Lumpkin narrates her photographs, pt. 2

Tape: 4 Story: 1 - Barbara Ann Lumpkin describes the Urban Bankers Forum of Chicago, pt. 1

Tape: 4 Story: 2 - Barbara Ann Lumpkin describes the Urban Bankers Forum of Chicago, pt. 2

Tape: 4 Story: 3 - Barbara Ann Lumpkin recalls continuing her education in Chicago

Tape: 4 Story: 4 - Barbara Ann Lumpkin remembers working for Amalgamated Bank of Chicago

Tape: 4 Story: 5 - Barbara Ann Lumpkin describes working as comptroller for the City of Chicago

Tape: 4 Story: 6 - Barbara Ann Lumpkin recalls becoming budget director for the City of Chicago

Tape: 4 Story: 7 - Barbara Ann Lumpkin remembers her work with Mayor Richard M. Daley

Tape: 5 Story: 1 - Barbara Ann Lumpkin recalls how she became treasurer of Chicago, Illinois

Tape: 5 Story: 2 - Barbara Ann Lumpkin recalls managing the Y2K panic as treasurer of Chicago

Tape: 5 Story: 3 - Barbara Ann Lumpkin reflects upon her term as Chicago city treasurer

Tape: 5 Story: 4 - Barbara Ann Lumpkin describes her career after serving as city treasurer

Tape: 5 Story: 5 - Barbara Ann Lumpkin describes her Northern Trust Corporation vice presidency

Tape: 5 Story: 6 - Barbara Ann Lumpkin talks about becoming chief procurement officer of Chicago

Tape: 6 Story: 1 - Barbara Ann Lumpkin describes her role as chief procurement officer of Chicago

Tape: 6 Story: 2 - Barbara Ann Lumpkin talks about advocating for minority contractors

Tape: 6 Story: 3 - Barbara Ann Lumpkin describes her hopes for the African American community

Tape: 6 Story: 4 - Barbara Ann Lumpkin reflects upon her life

Tape: 6 Story: 5 - Barbara Ann Lumpkin describes her plans for the future

Tape: 6 Story: 6 - Barbara Ann Lumpkin reflects upon her legacy

Tape: 6 Story: 7 - Barbara Ann Lumpkin describes her hobbies and family life

Tape: 6 Story: 8 - Barbara Ann Lumpkin describes how she would like to be remembered

Tape: 6 Story: 9 - Barbara Ann Lumpkin narrates her photographs, pt. 3

DASession

1$1

DATape

4$5

DAStory

5$4

DATitle
Barbara Ann Lumpkin describes working as comptroller for the City of Chicago
Barbara Ann Lumpkin describes her career after serving as city treasurer
Transcript
So you're approached by the Daley [Richard M. Daley] administration in '95 [1995] (simultaneous)--$$(Simultaneous) Um-hm. In '95 [1995].$$How did that happen?$$It was a surprise to me, too (laughter). Mayor Daley had just won re-election in 1995 and he also had just received the authority to take over the public school system [Chicago Public Schools] and as a result, he was re-tooling his cabinet. The budget chief at the time and his chief of staff and a few of the people who were going over to head the Chicago [Illinois] public school system and so they were moving some people around, the person who was comptroller at the time was being promoted to be CFO [chief financial officer] and they said they were looking to recruit the new comptroller. I received a call one day and I'm thinking, "Oh my God, have we blown their account?" I told the staff, "Look, if we're not balanced or we've blown this account, we're all fired so, oh, my God, oh, my God." But that wasn't what it was about at all. They invited me to come over for coffee and I thought, "Well, I suppose so, you know, I'll walk over, you're a client." They didn't say why, they just said, "Have you ever considered government, city government before?" And I said, "Well, I guess not, I've always worked in a bank."$$And those were the days of Paul Vallas and Gery Chico being the two (simultaneous)--$$(Simultaneous) Yeah, that was the group that had gone over.$$Yeah, had moved over, right.$$Mm-hm. And as a result, Diane Aigotti was named budget director and then, you know, then there was the comptroller role they were looking for. So I went over and we were just chatting and I was totally convinced in my walk over that I really loved what I was doing, that I was having a really great time, this was a rather unique opportunity for someone like me, you know, the staff and my bosses and all of us. We had this great working relationship and we were really making some significant inroads and, you know, I was just wanting to do what I could to pull that all off. And, and besides, they never said, when they invited me over what the assignment was, they just said, "Would you want to come over and talk to us?" So I went over and spent actually about an hour with them before--being myself, I said, "Okay, what exactly were you talking about. What job are we exactly talking about?" And they said, "Well, we're looking to fill the position of comptroller." I said, "Oh. Then that's different, let's, you know, let's talk more." So that's how we started the conversation. There were I'm sure, a lineup of very talented people. All of them I don't know who they were or whatever, but I just can imagine that a City of Chicago with the talent that it has that there was any shortage in names.$$I might sound dumb here but, is that, you know, you got a big position in a mid-size bank [Amalgamated Bank of Chicago, Chicago, Illinois]] and, you know, I mean, being the comptroller in the City of Chicago, is that more attractive than what you, I mean--$$Well, this is what I always try to do in my career is layer experiences. I thought that, as I still do, that adding the additional experience and the opportunity to see and learn the operation of doing a bond issue from the side of an issuer, which the City of Chicago is and which the comptroller is all responsible for, seeing it from the issuing side, because remember in the past when I was working with the transactions and the clients, it was from the bank's perspective but not from the client's perspective, and I thought I would have been even a better banker because you understand it all. I was--that was always my goal, to try and get to understand, top to bottom, soup to nuts, so, any conversation I would have with someone or if I was trying to resolve an issue, I'm talking about what I know, not what I'm thinking, or whatever I'm making up, this is a real live experience. This is something that I, you know, can talk about with confidence and I thought, you know, for these, and this is my reasoning, I thought, you know these assignments are very high intensity, you know, very demanding, long hours, lots and lots of work or whatever. I'll be back in a couple of years. That was what I thought, but it became a life of its own and I ended up in city government almost six years and doing several different things from that assignment.$Did you go to Northern Trust [Northern Trust Corporation, Chicago, Illinois] immediately after you--$$Not immediately thereafter. I, you know, just needed some time to kind of stop working the ninety hours a day and sort of settle. I worked--I went to the mayor's office as a special assistant to the mayor [Richard M. Daley]. I was working on a number of projects. One of the things that I worked on was the mayor had appointed me during my tenure as treasurer to a mayoral task force and that task force was charged with coming up with ways to identify opportunities to utilize minority women-owned firms at the city [Chicago, Illinois]. And I was fortune to have business leaders, public and private sector, higher ed [higher education], medical services, across the board, work with me on that and we served up some really interesting kind of cutting edge, I think, ideas about what the opportunities could be and how we could reshape, how we could restore. And one of the things that was in that report was some of the things that's in place now in city government and it was kind of like how to restructure and instead of calling it purchasing maybe we call it procurement services. So here it is. I just did that assignment and together with everybody else and when that project was over, it was quite an involved one because we met with the various groups and met with the various individuals, met with community, met with, you know, faith-based, met with all the state collators and everybody else and when the new procurement chief was appointed in 2000, I said, "Here's the bulk of the work that I've worked on and here are some of the things that the group thought might work." And I worked on a few of the other projects there in the mayor's office concentrating on maybe finance, or community outreach kind of stuff and while deciding what I would do next. And that's when I went to Northern Trust.$$Okay.$$It was at the end of the year.$$Okay. So it was at the end of 2000, end of 2000. Okay.$$December 2000, I joined Northern Trust.$$Okay. Now how--what position did you hold at Northern Trust?$$I went to Northern Trust in--my official role was senior vice president. I was first placed in the public funds group. My role was, it was like an undefined role, it pretty much one that I supported the leadership of that group and over time, the role sort of morphed into senior vice president and head of its public affairs and government relations kind of group. Kind of a new role that had not yet existed before at the company, and it took on various shapes depending on the nature of what we were doing. But the central core of it was to help position the company in the--and its core products in the communities it served. And if that meant sitting there with some of the investment guys, talking to a client about an investment transaction, that was helping protect the turf. So basically my role was to join the others, to partner with them to help protect and grow the business. Also, interact with all of the key decision makers external to the bank, be it organizations or political figures who would have an impact on the corporation's well-being. Part of my role was a lot of problem-solving, lending a hand in developing strategy to resolve certain things. You might say I got involved in some of the more complicated, more complex situations, which was kind of fun for me because I kind of like the activity. So that was the job. It was--talk about a trailblazer--much of it had to do with a lot of the external business, you know. Anything that might impact the bank's impression, its image or its client base--