A new leadership model for financial companies
Tom Neff and Connie McCann
novembre 2008
Events of the past few weeks have brought about massive transformation on Wall Street. The old Wall Street is gone and the new financial companies that have emerged, are likely to have not only a different business model but also different leadership and governance.
These new entities are complex financial holding companies with multiple businesses, lower leverage, less risk and subject to more regulation. They are engaged in the full spectrum of banking activities, including deposit gathering, commercial lending, trading, mergers and acquisitions, financial structuring, and handling initial public offerings. It will take extraordinarily skilled and intelligent individuals to run them and finding directors might be a challenge.
Five years from today, the framework for managing and governing these complex combines should be in place. Until then companies will experiment and search for models that work best for them. Only with new models will the industry be positioned to resume strong growth.
Read the full article first published on Businessweek.com on 4 November 2008.