Bridging cultural differences

Bridging cultural differences

 

A senior team in an international investment bank needed to develop a more global approach and more relevant products for global clients. But the prevailing culture was highly individualistic and tensions between New York and London resulted in lack of collaboration. The team’s goal was to raise global deal flows through improved international teamwork and to move from number three in the market to becoming market leader.

Approach
Given the highly results-oriented nature of the business, we developed an action-oriented approach, showing the team exactly what they needed to do to achieve the strategy. This involved a combination of individual leadership development and team development to improve global leadership, thereby facilitating better alignment and a more international approach to clients. Our in-depth team review highlighted strengths, gaps and areas for improvement while follow–up workshops ensured the successful implementation of our suggested actions.

Outcomes
The individual executives developed a better global capability and a greater understanding of their own roles within the team, whilst team dynamics and collaboration were bolstered as revealed by the post workshop data. As a direct result of the improved team intervention, business revenue grew by over 60% and the team moved up in worldwide rankings.