BECOMING A BANKING GROUP
How do we transform a group of banks into a banking group?
Consisting of various banks in 8 different countries across Central Eastern Europe, the need was to establish an overall holding structure to steer the group, enable synergies, enhance quality by establishing group wide functional and product standards, and increase the impact of the group on the market.
After the establishment of the holding group, we focused on a group wide change and communication process to intensify the collaboration between subsidiaries and the holding, while developing and establishing efficient new organizational steering structures.
We started the two year project by asking questions and generating hypotheses. We interviewed a broad range of employees and as a result developed the project architecture featuring the following elements:
Diagnosis and analysis of the organization: Interviews with the Top Management ( Board, 2nd line Management, Holding, CEOs of the subsidiaries). Assessment of the overall situation, relevant topics, cooperation model, satisfaction with the achieved steering structures, critical success factors for implementation.
Board Meetings: As the first step of the cascading process we intensively worked with the Holding Board on the achievement and implementation of the strategy.
Top Management Meetings: The top management team, consisting of the several holding boards, local boards and managers of the first and second level of the Holding, worked on the strategic positioning.
Management Conference: A larger management conference with 500 top managers with the goal to build up a common understanding as a group, to discuss difficult and current topics and develop solutions.
Evaluation: To enable a constant development and reach the goals of the project, between the several milestone events interviews and quantitative online surveys were conducted. They also served as feedback for the overall change process and offered the senior managers an additional opportunity to get feedback on the process from the organisation and ideas for improvement. The results of the evaluations were integrated in the transformation process.
- The new holding structure was successfully implemented.
- Managers were actively involved in the transformation process and had the oppurtunity to shape the new structure together with the holding board.
- In the context of milestone events the managers had the opportunity to exchange their different perspectives regarding group wide topics and generate innovative solutions through external impulses.
- The top management community was establisted to encourage a better understanding and acceptance for the new structure and for each other.
- Due to the clear and consistent top down and bottom up communication all parties involved got the chance to participate in the transformation process and bring the new structure to life.