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Listed, Globally Diversified Banking Group

Listed, Globally Diversified Banking Group
Client Listed, Globally Diversified Banking Group
Region UK
Sector Financial Services
Offering Organisation Design, Sustainable Cost Optimisation
Buzzwords
Banking Organisation design

The Challenge

The Wealth and Personal Banking Business of the Organisation required wholesale organisational redesign to align it with overarching Organisation’s strategy. The mandate was to adopt a ‘zero-based’ approach to design, creating a business structured aligned to its vision and purpose. At 90,000+ FTE spread across 25 markets, this was an ambitious project that required global collaboration. The key objectives of the redesign were to:

  • Create an organisation focused on its strengths, digitises at scale and delivers customer value
  • Become a simpler organisation that is leaner and more nimble
  • Ensure accountabilities and decision making are clear
  • Empower the business to focus on delivery and execution by equipping them to maintain a robust OD

Our Approach

  • We adopted a zero-based approach to design, using our tried and tested methodology
  • We defined the design and identified opportunities across three elements:
  • Design Principles: and definition of key elements e.g. role of Region, role of Group
  • Transversal Design: cross-cutting design area, themes or issues that require resolution for the design to be successful
  • Vertical design: deep-dives in to the design of each ExCo members area
  • Key to implementing change across such a large organisation was creating strong governance and leadership buy-in, and establishing a Design Authority which was used to assess designs

Key Outcomes

  • Delivered c.12% ($130m) savings, enabling their redefined strategy and enhancing the client’s pivot to Asia
  • Reduction of 800 permanent FTEs
  • Simpler, more consistent design oriented towards delivering strategic priorities
  • Upskilling of internal teams to maintain robust OD, including templates, toolkits, and masterclass sessions
  • Documented future activities and who is accountable for delivering them
  • Clear purpose for each L4 area, with future activities, FTE and cost defined for each L4 area to L6
  • Created opportunity to move to ‘Always On’ OD through development of data capabilities – helping to maintain integrity of designs
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