Today’s fun and profound Pioneer Day celebration is a great time to think about the state’s pioneers — old and new — who have shaped Utah’s past, present and future.
A pioneer is a forerunner, a discoverer, an innovator and a builder. We have great examples of intrepid pioneers in every segment of Utah society, including business, science, nonprofits, education, religion and public policy.
I believe real pioneers share five key attributes: hard work, innovation/creativity, integrity, vision and service.
Anyone who exemplifies these character traits can be a real pioneer, whether the goal is to overcome a hardship, build a strong marriage and family, create a business, help develop a community or provide charitable service.
I would like to pay tribute to a Utah business pioneer who I believe epitomized those pioneering traits. His name is Roy Simmons. He was one of my mentors, and he laid the foundation for my business, Zions Bank, to become what it is today.
Here is how Roy used the traits of a pioneer to have an enormous impact on Utah and leave a tremendous legacy:
Hard work. Nothing can replace hard work, long hours and single-mindedness in building a pioneer legacy in any field. Roy came from very humble beginnings, losing both his parents when very young. Taken in by a family friend, Roy had no time for much beyond working to help his family. As a young boy he sold vegetables and fruit, pulling a wagon around the neighborhood. He hoed onions, delivered flowers and worked at a gas station. He had 37 jobs by the time he entered high school, and many more thereafter, working as a copy boy at the Salt Lake Tribune, insurance agent, bank teller, state Financial Institutions commissioner and many others. His life was filled with work.
Innovation and creativity. Roy had the ability to see opportunities, create products and execute effectively. While working for the tiny First National Bank of Layton in the 1940s, he saw opportunities to help house the many workers building Hill Air Force Base. He bought properties, got a broker’s license and began selling houses. He was later asked to reorganize the Utah Liquor Commission and soon after became the youngest state bank commissioner in the United States. He organized the Bank of Utah in Ogden and then acquired the Lockhart Company, a consumer finance firm in Salt Lake City, which led to his purchase of Zions Bank.
Integrity. Roy knew that business was all about trust and personal relationships. His many business endeavors were successful because he was scrupulously honest and fair. Employees, business associates, customers and even competitors knew they could rely on his word.
Vision. Over many decades of hard work complemented by a big vision, Roy built a business empire stretching from banking to real estate, to travel, to ranching, to venture capital and to media broadcasting. In 1960, Roy and some business associates purchased a 57.5 percent controlling interest in Zions First National Bank from the LDS Church and later acquired the remaining bank shares. He formed Zions Bancorporation, a bank holding company, and led the companies for 42 years. Today, Zions Bancorporation has expanded to eight banks in 11 states with more than 450 banking offices.
Service. The culture and values Roy built into his businesses incorporated community-building and community service. Giving back was a way of doing business for him. He was generous in his personal life, supporting innumerable good causes. Roy was also a dedicated family man, married to his college sweetheart, Elizabeth “Tibby” Ellison, for more than 67 years. Together, they raised six children.
Roy Simmons was a business pioneer who helped build Utah into what it is today.
A. Scott Anderson is CEO and president of Zions Bank.