When the new CEO at Kleinwort Benson was appointed, a new business strategy and aggressive growth plan was developed with external strategy consultants. With a vision that leveraged their legacy 'traditional' British culture, overlaid with a new entrepreneurial focus, Kleinwort Benson needed a common language coupled with objective processes to ensure they had the right people in the right positions in the leadership team, as well as in key customer facing teams.
GFB took up the challenge of creating a language and approach for managing and developing people at Kleinwort Benson. The executive committee was interviewed in depth to establish what good would look like at Kleinwort Benson to achieve the strategic agenda. This was mapped to the Schroder High Performance Managerial Competency Framework to provide an externally validated framework in the language of the business. Once this was developed the 20 most senior executives were assessed against the framework during interviews, 360 feedback and the use of psychometrics. Detailed development plans were agreed with individuals and the team reshuffled to best leverage their strengths as the change programme began.
Subsequently, the key roles in the Private Banking job family were profiled, and one-day assessment centres were rolled out to evaluate incumbents and other internal candidates. Managers participated in development workshops, learning to support team members with individual development plans. To successfully transfer GFB's knowledge into the business and support assessment of external candidates on an ad hoc basis the L&D manager was put through GFB's internal accreditation process. Assessment is now managed internally with GFB consultants available when extra resource is required.
Within five months the leadership team was reorganised and focused on delivering change against individual account abilities. The business had a language to use for the development and performance-management of employees generally. The first new teams of Private Bankers were formed with line managers freshly trained to manage and develop.
Winning new business proved the model's success and completely new regional teams in line with the business plan were established.