CEO Roundtable: Leadership in a Changing Global and Regional Financial Landscape at the 18th Malaysian Banking Summit. Thoughts from a Gen Y in the Corporate World during the CEO Rountable, summarised in 10 key points.
– Mr. Ashok Ramamurthy, Group Managing Director, AmBank Group
– Mr. Goh Peng Ooi, Chairman, Silverlake Axis Ltd
– Datuk Abdul Farid Alias, President, Malayan Banking Berhad
– Mr. Osman Morad, CEO of Standard Chartered Bank Malaysia Berhad
– Mr. Sanjeev Nanavati, CEO Citibank Berhad
Moderated by: Tan Sri Ramon Navaratnam, Director, ASLI & former CEO, Bank Buruh
1. 30 million in Malaysia is not enough; we need to grow beyond that. As an entrepreneur, look at scalability, can we go beyond our shores of 30 million to reach a potential of 600 million across the ASEAN region?
2. Productivity is the name of the game. Always measure and benchmark. Passion, drive and grit is key but ensuring that you and your employees are productive is essential via benchmarking and as Dory says it in finding Nemo, ‘Just keep swimming.. Just keep swimming..’
3. A banker has to be a good juggler, keep everything in balance. Margins are shrinking, there is a chase for liquidity and sticky deposits which is at odds with growth and shift of power with the rising middle class. Leaders need to balance this.
4. In a CEO’s role lining up priorities, there is a restorative role in credibility and reputation. We have to create a set of values to create a corporate identity, known to the community.
5. Bankers are not great innovators but we are not too bad at cloning things. Sometimes, a good idea there is a good idea here.
6. Banking used to be a lifetime job, Gen Y now believes in doing what you are passionate about. People now jump jobs for small amounts of increment, so do customers. How do we respond to this?
7. Banking is really a business of human interactions. In fact, majority of businesses consist of a series of human interactions. Knowing this, it is important to learn to delight, motivate and lead.. humans.
8. Leadership is contextual: what makes a good leader at one point in time and place doesn’t make him a good leader elsewhere.
9. Problems but opportunities: There is rising prosperity, pervasive technology; an acute shortness was of talent but greater opportunity for banks to separate themselves.
10. The story of the frog in boiling water – our business is being chipped away by technology, a slow erosion we need to address. Transaction is now instantaneous, instant gratification. It used to be via branches but now there are various touch points for customers.
In conclusion, banks need to understand how to unlock the value within the area in which they operate.
### Special Guest Post ###
Jason Lee is an International Graduate, Standard Chartered Bank graduate programme. As a Gen Y in corporate world, he believes that there is an abundance of opportunities to be entrepreneurial wherever we operate. Connect with him @jasonleecj on Twitter.