The start
The new Chief Executive arriving in a loss making asset management subsidiary (part of a top 15 global bank) has agreed with the Board to deliver €250m Operating Profit in 2 years time. His arrival brings fears about the Board's intention ("Are they planning sell us?").

A small team of coaches is invited to engage the wider organisation of 1800 people in delivering this result.

What happened?
A complete restructuring to a new regional/functional matrix bringing new teams and a raft of “process” including performance contracts, monthly reporting, appraisals and career development. People found these difficult to implement and a "distraction" from achieving their performance targets

Our colleague Alex as team leader worked with Tritia, Ben and Tony as team members and Chris in a supervisory role. Each taking a role as coach to individual directors and their global teams we ran an intensive series of conversations, meetings and large conferences over a 12 month period. Our aim was to introduce and spread a set of “coaching behaviours” as the means to enrol each director and their people with the big strategic goal. We helped bring difficult issues onto the table, work through conflicts, face up to difficulties and make tough choices.

By the end
At the end of the first year the CEO reported Operating Profit in the black approaching €100m and strong confidence that the 2 year target would be achieved. The leadership survey results were up 9%, the global organisation had a more commercial focus, all teams were clear about their objectives for the coming year and how to achieve them together.

The CEO described the direct impact on the results of our work as "accelerating the engagement of others enabling me to step back more rather than driving myself". He has since been promoted to the Main Board. The better performing asset management business is secure from sell-off... for now.