Equipping leaders to drive change in Financial Services

By: Alex Swarbrick

The financial services sector contributed 9.6% share of UK GDP in 2011, higher than in other major economies, and employed just over 1 million people in the UK. This highlights the important role that the financial services sector continues to play in the UK economy.

However, in an increasingly challenging and complex external environment, financial services organisations are battling with public hostility, economic and regulatory pressures and new market entrants, while attempting to remain focused on managing risk, increasing lending and serving customers.

In a period of unrelenting change, many financial services organisations are recognising the critical need to develop leaders to guide the organisation through the current climate, as well as positioning the business for sustainability and growth. This requires a new approach to leadership, to build essential skills such as resilience, agility and ethical leadership, to create an organisation and culture that rises above the recently tainted reputation of the financial services industry.

Key questions for financial services organisations include:

  • How can organisations respond to the pressures of ongoing uncertainty, negative market perceptions and increased regulation and legislation?
  • What are the implications for leadership development in financial services organisations?
  • How can cultural change be achieved alongside operational change?
  • How can employees deliver more with less?
  • What role do values, ethics and responsibility play in driving change within financial services?

Drawing from The Management Agenda 2013, this white paper aims to explore the issues that the financial services sector is currently facing, as well as providing our best practice advice on what financial services organisations can do to develop effective leadership to drive change

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