How Midwest Dental Hygienist Became Fortune 500 CEO

“I grew up on a farm in central Minnesota. I was the middle child. I was a kid who was ignorant of what I wanted to do,” says Rasmussen. luck. “But what I discovered early was that I love learning, and the gift carried me every step of the way.”

Her path to the corner office is not traditional. After a law school and financial services stint, Rasmussen joined Srivent’s legal team. Over time, she quietly accumulated broader responsibilities, including communication, marketing, government issues, and business risk management.

That practical curiosity brought a pivotal moment in 2015 when then CEO Bradford Hewitt asked her to run the company’s core business. “He said, ‘If you don’t like it, you can always go back to the general counsel,” she recalls. “But I knew I had to be completely committed.”

By 2018, she had been appointed CEO. It was an uptick rather than based on intellectual curiosity and problem-solving reputation, rather than title hopping or calculated power play.

“My legal team was joking about how they were transforming from a ‘no’ division to a ‘know’ division,” she says. “I always wanted to help the business solve that problem, not just police.”

The origins of Srivent as a Christian brotherhood will guide its mission even after more than a century. But leading value-driven businesses in a complex, secular financial environment requires a delicate balance. Rasmussen’s strategy is to lean towards the clear spirit of the company, including faith, service, and financial management, as a competitive advantage.

“Our clients believe that money is a tool, not a goal,” she says. “They want to support their community, take care of their families and lead a life they want. That integrity gives us a kind of trust and sustainability that makes it difficult to replicate.”

Thrivent currently manages more than $160 billion in assets and ranks on the Fortune 500 list, number 388. Still, Rasmussen says the company remains “under the radar” and she wants to change it.

“When we share stories with people, the responses often say, “Wait, does this company really exist?” And we say, “Yes, we’re a real deal.” ”

Her leadership style is rooted in human connection. Thrivent is investing in a new generation of financial advisors by deepening client relationships, building digital banking.

“We invest in former teachers, second experts in community leaders, in people with strong values ​​and desire for service,” says Rasmussen. “We train them. We team them up, and they are thriving.”

One of the biggest hurdles she faces is to persuade her to evolve into a healthy company. Srivent is financially strong, she says. “But we’re transforming into a diverse financial services company. It takes vision, patience and tenacity.”

That transformation includes launching bank charters and digital platforms, expanding its scope to younger generations and hiring top-notch talent. “In 2008 and 2009, we were one of the few stable places left, so we featured some amazing investment talent,” Rasmussen points out.

As she looks ahead, Rasmussen will focus on solidifying the identity of Trivent, both as a purpose-driven, high-performance financial company.

“When I became CEO, I realized that I didn’t even know that we were a financial services company. Some people thought we were charities,” she says. “But now we’re changing it. We’re proving you’re good at what you’re doing, and we’re proving that you do it with generosity, faith and service at your core.”

She praises mentors like the original Best Buy CEO Hubert Joly has helped her build early confidence in the role. “He told me, ‘Ride your bike and start pedaling. It’s easier to pilot it when it moves,” she recalls.

Seven years after work, Rasmussen says she is still learning and is driven by the same motivations that brought her from the dental chair to law school. “To our workforce, she says, ‘I’ll be a better CEO in a year now, I’ll be a year from now,’ I’m not the best CEO today.

And in an industry often dominated by ego and short-term performance, that mindset may be the most valuable asset of all.

Loose Umo
ruth.umoh@fortune.com

Today’s newsletter was curated by Lily May Lazarus.

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