The financial sector is going through one of the biggest turmoils ever experienced. The sector is seeing record levels of mergers, acquisitions and re-structures. Whilst some banks are struggling to remain private, others have already lost the battle.
This is translating into steep increases in CEO turnover. Indeed, over 57 percent of the new CEOs that took office in 2008 were insiders mentored by outgoing CEOs, who left the top office to take up the Chairman role. Coaching therefore has a prominent role to play.
Future leaders will need to reconcile an increased regulations with the need to deliver innovative and increasingly tailored solutions, whilst restoring client trust and confidence in their organisation and the sector as whole.
'The need for identifying the right senior executives has become increasingly recognised. It is no surprise that the FSA has recently taken an increasingly hands-on approach in vetting executives and directors of large financial institutions. These industry changes also present a one-off opportunity for CEOs to assess their management teams with a view of ensuring that they are ready and able to take on the next set of challenges.'
Email Ali or call her on 07738 319 198