My Music Row Story: City National Bank’s Lori Badgett

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Lori Badgett

The “My Music Row Story” weekly column features notable members of the Nashville music industry selected by the MusicRow editorial team. These individuals serve in key roles that help advance and promote the success of our industry. This column spotlights the invaluable people that keep the wheels rolling and the music playing.

Lori Badgett is Senior Vice President & Team Leader of Entertainment Banking for City National Bank (CNB), and has spent over 25 years serving the entertainment industry nationwide. Badgett helped launch the first Nashville office in 2011 and co-manages the office with Diane Pearson. The bank has quickly become Nashville’s premier entertainment bank, now serving over 85% of the Nashville music industry. The bank is instrumental in financing some of the top business and creative names—including artists, songwriters, producers, managers, performing rights organizations, agencies, publishers, business managers and law firms.

Badgett enjoys giving back through nonprofit board involvement. She previously served as Chairman of the Academy of Country Music and ACM Lifting Lives, and  actively sits on the Boards for the Americana Music Foundation, Belmont Curb School of Music, Women’s Fund of the Community Foundation of Middle Tennessee and Girls Give as well as Music Health Alliance. Badgett also served as past President of Leadership Music and was part of the 2002 class.

She has been recognized as one of Billboard’s Top Women in Business, Top 50 Women in Music, Country Power Players as well as Variety’s Women Who Power Country Music, Top Entertainment Industry Dealmakers and Top 30 Music City Impact Players. She lives in Brentwood with her husband Jon and their daughters.

MusicRow: Where did you grow up?

I grew up outside of Nashville, in Hendersonville. My father worked at Opryland USA, which included the Grand Ole Opry, the hotel and the theme park. He was Vice President of Marketing & Public Relations.

Badgett with Marty Robbins

We had a very unique childhood—growing up at a theme park, going to the Opry for various occasions. He was close to Mr. Roy Acuff, Bud Wendell, Jack Vaughn, Jerry Bradley and others of that generation. He worked there from 1974–1990. Those were really fun times in the music business, and for Nashville. Back then, there wasn’t much happening downtown. Everyone went to Opryland. He had a lot of fun entertaining different people.

What’s your earliest memory of those days?

I definitely spent a lot of nights in Roy Acuff’s dressing room during shows as a kid. I remember listening to Marty Robbins in his dressing room, Porter and Dolly performing on stage, Max D. Barnes playing songs he had written on our back porch, going to see Vern Gosdin and Gene Watson at Twitty City and Opryland shows like “I Hear America Singing.” There was always music playing in our house, including Conway & Loretta, George & Tammy, Ray Stevens and Don Williams, just to name a few. We had dinner a couple of times at the steakhouse in the Opryland hotel once with the cast of The Dukes of Hazzard and another with the cast of Dallas. Larry Hagman and Patrick Duffy—those kinds of moments were just strangely normal for us.

Dolly Parton and Badgett

Did you know then that you wanted to do this?

Absolutely not! I’ve always loved country music and being part of music, but I graduated from the University of Tennessee in Knoxville without really knowing what I wanted to do. I was a business graduate and a marketing major, and banks were recruiting hard. I ended up in SunTrust Bank’s Management Training program. It was a one-year program that taught you about the bank and helped you find your fit. This was in 1996. I remember that I was usually in heels, pantyhose and a Talbots dress because it wasn’t appropriate for women to wear pants at that time.

The Head of the Music Division at SunTrust, Brian Williams, stood out to me during the training program. He was fun and well-connected in both the business and music communities. Back then, Nashville wasn’t “Music City” as it is today. Brian was a true connector, bridging the gap between the people on Music Row and the downtown business community. He was my first boss, and I didn’t realize how special that was at the time.

How did you get to work with him?

Kenny Chesney, Badgett and Tracy Lawrence

At the end of the training program, you figured out where you wanted to be, and they figured out who they wanted. Brian and I clicked. The other option was the Marketing department, and while that was appealing, I thought if I worked on Music Row as a banker, I’d better understand what the Marketing department needed. So, I leaned into that path—and here I am almost 30 years later.

What did you learn as you started your career as an entertainment banker?

Back then, we celebrated everything—Gold, Platinum and Diamond records. Record sales were so successful before streaming. I went through Leadership Music in 2002, when we were debating Napster and whether people would ever watch movies or listen to music on their phones.

Dwight Yoakam and Badgett

I went to graduate school at Belmont, where I earned an MBA in music business. We had roundtable discussions with industry legends like Donna Hilly, Tim DuBois and Mike Curb. Hearing their stories was fascinating.

The music business has changed a lot since then. When I started at the bank, it was about handling mostly deposits with some loans and mortgages. Over time, it grew heavily into the investment side and, by 2006, we were in large-scale syndications as music publishing began to grow. The number of labels has consolidated, and the same trends have happened in publishing.

I’ve always admired the entrepreneurs in the music business—they are so unique and take incredible risks with so much uncertainty, and somehow succeed. It’s rewarding to watch and be part of their journey.

At what point did you decide to stay in music banking instead of marketing?

Probably five or six years into working with Brian. I had built a book of business and cared deeply about my clients. I never looked back after that. We built the business by understanding the unique cash flow and challenges of the music industry. I became a translator—explaining to creative people what banks can do and showing the bank why a creative person is a good risk.

Badgett, her daughter Ellie and Taylor Swift

However, Brian always knew that I enjoyed the marketing aspects of our office and let me run with projects. I worked closely with the Marketing department on every campaign, photo shoot, taglines and promotions. That’s why he was such a good leader—he let all of us do what we were good at. I still get to use all of my marketing expertise at CNB in promoting what we do best.

Bankers are involved in so much. How do you explain what you do now?

Recently my daughter had to write a college essay. She started it with, “Growing up, I never knew what my mother did.” That’s still accurate. I feel that my work is primarily about connecting people and helping them succeed, whatever success means to them. Sometimes that’s finding financial investors or partners, or just introducing people I know who have similar goals and are good people at heart. I’m heavily involved in nonprofits, which is the most rewarding part. During the COVID pandemic, with ACM Lifting Lives, we doubled down on giving and distributed four million dollars in two thousand-dollar increments. It was life-changing for people who needed that support at an unprecedented time in history. CNB also took on the Paycheck Protection Program (PPP) lending process during the pandemic which was a monumental achievement.

Badgett with Kris Kristofferson

You co-lead the Music Row office of City National Bank with Diane Pearson. Tell me about that.

Diane and I have worked together since the beginning of my career, and we’re great partners and friends. We know each other’s strengths, so any issue that comes up, we immediately know who will handle it. Our team is passionate and on-call 24/7. When clients are on the road or dealing with credit card issues, we’re here to help, whether they’re filling up a bus or checking into a hotel, we have to be sure things go as planned. Diane and I are so much alike in that we’re both extremely committed to helping the Nashville music community whatever that means on any given day.

What’s your favorite part of the job?

The people! The people I get to work with—my colleagues and our clients are truly the best of the best, and I’m honored to be on their team. And of course, the music… I’m an avid fan, and there is nothing that will ever replace the live music experience.

Badgett, Sarah Trahern, RAC Clark and Damon Whiteside

I also really love the charitable component, and I’m grateful CNB is such a strong supporter. Our successful business allows us to lead in nonprofits. I’ve been deeply involved with ACM, ACM Lifting Lives, Leadership Music, Americana Music Association, Music Health Alliance and Young Leaders Council. Currently, I serve on the Board at Belmont University for Curb College, and the newest expansion is going to provide incredible things for students and our music community. I’m also involved with the Community Foundation’s Women’s Fund. I recently attended a grantee lunch where recipients shared what they’ll do with their grants—buying diapers, supporting self-defense programs, or helping to provide period products so girls don’t miss school. It’s humbling and inspiring to see the impact we can make.

What did your dad think about your career in the music business?

He loved it. Anytime I could take him to an industry event, like the Country Music Hall of Fame Medallion Ceremony or something at the Opry, he was thrilled. He passed away a couple of years ago, but we had a very special relationship. He was so proud of me, even though I think he found it surprising that his goofy, creative daughter became a banker!

Mandy Morrison, JaHan Wang, Diane Pearson, Martha Henderson, Jason Plum and Badgett

Who have been your mentors?

Brian Williams. Not only was he my first boss, he believed in me when he didn’t have to. He always said I worked with him, not for him, and that stuck with me. His leadership taught me how to treat people and manage effectively.

Martha Henderson, who ran CNB’s Entertainment division for 40 years, has also been a huge influence. She is the reason I made the change from SunTrust to CNB. She embodies integrity, always putting clients first, and her steady leadership has been inspiring.

What personality traits are crucial for this job?

You have to be dependable and trustworthy. Building trust is everything. You also have to be responsive—most calls or emails are time-sensitive. It’s demanding but rewarding.

What advice would you give to future leaders in this business?

Show up. There are so many opportunities in the music business, but you have to take initiative. Talk to people. Most are willing to share their journey if you ask. Don’t sit back and wait for things to happen.

I’ve been blessed to do this for almost 30 years, with a wonderful family and a career I love. I’m very lucky.

LB Cantrell
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