Top 15 Global Bank
Driving High-Growth Results through Leadership and Transformation
The CEO of a business unit (BU) at one of the world’s top 15 global banks set an ambitious goal: move from a lossmaking position to being in the top 5 European players by 2010. To achieve this, the BU aimed to triple operating profit (OP) by the end of 2006.
What Was at
Stake
The business faced fierce competitive pressure to innovate and deliver superior returns to customers. Its 1,800 employees were entrenched in a long-standing, change-averse culture, which made a comprehensive organisational restructuring all the more challenging. In addition to changing global teams, talent needed to be mobilised rapidly to support this vision – all within a tight timeline.
How We Created
Business Impact
The first step was to work closely with the senior team to codesign a three-year value creation plan that would allow the business to meet its profit goals. This plan was developed in partnership with 150 key leaders during a 3-day strategy activation workshop. The clarity and structure created in that workshop set the foundation for success. The target was set to increase operating profit by 34% in the first year, and by the end of the session, the leadership team was aligned, and the ambition was shared across the business. People began to believe the ambitious goals were achievable, and the top-down mandate was transformed into collective ownership.
Following the workshop, we implemented a series of large group sessions across Asia, Europe, and Latin America to engage the entire organisation. During these sessions, we worked with leaders to help them keep their teams focused on delivering results for customers while going through massive organisational changes. With 300 people exiting and 300 new strategic hires coming in, the challenge was to maintain business continuity and ensure that all employees understood how their roles fit into the larger picture. By the end of the first year, every employee could clearly articulate how their individual objectives were aligned with the business unit’s goals, creating a sense of purpose and accountability across the organisation.
As the transformation progressed, we shifted our role from hands-on facilitation to a more supportive, “shadow consulting” approach. This allowed the leadership team to internalise the necessary skills and behaviours for ongoing success. Our focus was on building leadership strength and fostering team effectiveness, which would sustain high performance in the long term.
The Results
We Delivered Together
By the end of 2004, the business unit had achieved a 34% increase in operating profit, and the upward momentum continued with a 41% increase in 2005. This success meant that the target of tripling operating profit by 2006 was exceeded a year ahead of schedule, allowing the 2006 target to be scaled back by 5-10%. The business unit gained a reputation for being “world-class” in delivering innovative solutions to clients. As a result of this success, the CEO was promoted to the main board of the bank in October 2005.
Why It
Worked
Our approach was not about presenting a prepackaged solution. Instead, we earned a seat at the table by listening to the business challenges and collaborating closely with the leadership team to develop a tailored strategy for executing their goals. By focusing on three key areas – developing individuals, strengthening leadership, and optimising team structures – we were able to accelerate strategy execution.
First, we developed individuals by equipping leaders and talent with the skills and mindsets needed to navigate the changes successfully. We also strengthened leadership by forming a unified, high-performing leadership team that could model the new culture and behaviours. Finally, we optimised the organisation’s teams and structure, aligning roles, decision-making rights, and ways of working to directly support the business’s strategic priorities.
Bottom-Line
Value
By unlocking the latent potential of leadership and the organisation as a whole, we helped transform a struggling, lossmaking unit into a resilient, high-growth business. This transformation reinforced the core belief that when people thrive, business results follow.
