Case Study Two: Restoring Profitability

Description: Executive Leadership Plan

Company: Regional financial institution with $7 billion in assets and locations in three states. Looking to expand geographically and offer new lines of business.

Key Concerns:The company had just been through two years of rapid change. Two successful mergers had left the Executive Team challenged in the areas of common vision, clear direction for associates, and how to blend cultures within leadership. In addition, other changes were in progress, including adding two new lines of business (wealth and commercial) to their already strong retail footprint. All were creating leadership challenges to both processes and internal communications, working together and getting along.

Objective: MRP Profit Strategies was retained to work with the executive team to develop a communications plan and a plan-of-work for implementation and integration of new business lines into core strategy. The underlying objective was to rebuild harmony within the Executive Leadership and build employee moral.

Project: MRP conducted a complete:

• Core In-Depth Review: An extensive review of the associates, including new associates acquired through mergers, high performers and those disgruntled with the current state of the financial institution.
• Results/feedback session with Executive Leadership
• A day-long Executive Leadership retreat.
• DISC assessment to restore respect/value and understanding of different personality styles and skill sets, followed by an open and honest discussion of key issues and challenges to rebuild trust between leaders.
• Lastly, creation of a communication plan to ensure future issues are kept to a minimum and leaders are kept informed and included on issues that impact the company and their specific teams.

Solution: Together with MRP, this Institution

• Developed and implemented Executive Leadership Team Communication plan and agreements
• Implemented one-on-one Executive Coaching for leaders needing additional support in terms of communication skills. MRP served as lead coach.
• One-on-one sales training within branch networks to support associates needing additional training to master the new sales processm which was provided by MRP and done at the Executive Leader's discretion and request.
• MRP redesigned the core strategy to:
• Include a vision, mission, actions, company position and key measures for success.
• Redesign the sales process to reflect company's new direction
• Build training models for all of the above to provide a guide for all leadership levels to easily communicate and train all associates on the new process.

MRP is still engaged with this company as they continue to grow and expand into other states and markets. The company has successfully integrated both commercial and wealth management into their core strategy and as expanded to include a private banker model in key markets. Two of their commercial markets have moved into second position (up from last) in terms of share of market in those communities.