If anything, to ruth chris ann arbor birthday discount his credit, he carefully kept the entire franchise together, resisting to even offload some of the businesses during the hardest of times, for exactly this reason.
Sands paid attention to two things very well dividends and capital.
Instead of being carefully nurtured, they have been given the short end of the stick on every cost cutting and resource reallocation exercise, while others in investment and corporate banking have been promoted way beyond their real contribution.A strong franchise is something that comes about when an ordinary business is run by ordinary people who get better at what they do over the years.He participates in local government initiatives, lunches with UK editors, contributes op-eds to UK-based publications and even Linked-In, not for one minute offering the same level of attention to the markets where StanCharts actual businesses are.But she was simply not able to build her own agenda or take a StanChart to the next level that even essentially domestic regional banks like DBS and Maybank were slowly chipping away to get.There was the fatal acquisition of Korea First Bank.Whatever you say about Citibank, to this day, it has a bench strength of management staff on the commercial banking side of its business that can easily rise from the ashes of the errors made on the trading side of the bank.Sands could have seen Bertaminis problems by just spending time with the staff working on mobile banking, social media and other new innovations at the bank that constantly needed to be tried and tested, that they in turn needed leaders who believed in them and.Peter Sands, from the beginning of his leadership at StanChart, had vocalized to the analyst community and internally to his own staff, his management objectives of growing the business by a certain percentage every year, meeting a specific dividend commitment every year and.Whatever other sins the organization has, this would have the effect of protecting the bank from any near death experience, as it did for Citibank.
They dont cringe from accountability.
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But it needed to be augmented by franchise building skills.
A franchise can take anything from 5-6 years to bring about, from the time a new leader puts in place his or her vision of what the priorities should be, and the people take the time to deliver on them.
No alarm bells rang.Sands, like his predecessors, will hopefully still be the winner in all of this.Cashback no Annual Fee Free * Read more Apply now Standard Chartered Cashback Platinum MasterCard A Platinum credit card that offers you tons of rewards and privileges.Peter Sands had little appreciation for the DNA that he inherited at Standard Chartered.But contact with the ground is kept light so as not to get personal when it comes to delivering numbers, and after a while, results in a very competitive world do not matter anymore.Standard Chartered Bank is an anomaly in that the boss sits in London while the real business takes place in Hong Kong and increasingly from Singapore.