Strategic Growth Plan for Leading Bank

Growth Success Story

THE CLIENT:  A leading national bank with multiple divisions and lines of business

THE CHALLENGE:  Current strategies are not fitting a rapidly evolving financial landscape and a new acquisition is not being appropriately valued by the investment community

THE GOAL:  Create a 3-year growth strategy that aligns the bank’s divisions around growth, renewal, innovation, and optimization, while addressing critical talent and culture challenges

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THE ROIG SOLUTION: Assess division-specific R-O-I-G strategy states (Revive, Optimize, Innovate, Grow) and develop a strategic plan for each division, including a talent and culture transformation and execution plan

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ROIG worked closely with the bank’s leadership team, including the Chairman, Board of Directors, and CEO, to create a tailored strategy that aligned specific divisions with targeted business objectives, accounting for their different growth states.

ROIG identified the commercial finance division as the bank's growth engine. We helped the bank prioritize efforts to expand in this area, creating a strategy focused on capturing new market opportunities, building stronger client relationships, and increasing profitability. With the consumer lending market poised for future growth, we designed an approach to test and scale new products, creating an innovation pathway that allowed the bank to explore new revenue streams while managing risk. And for the bank's divisions in revitalization and optimize states, ROIG developed initiatives to improve profitability focused on streamlining operations, reducing costs, enhancing customer experience, and increasing market penetration.

Due to limited resources within the bank’s HR department, the CEO requested ROIG’s leadership in transforming the HR function. In an interim executive role, ROIG spearheaded efforts to shift HR from a transactional focus to a strategic one. It was vital that the talent be positioned properly to bring the strategy to life, ensuring the right people were in the right places doing the right work in the right way to drive the company’s strategic objectives. This involved redesigning key human capital processes, installing a robust internal communications organization (a genius move that preceded COVID-19 by merely months), implementing talent development programs, and creating a leadership pipeline to support long-term success.

Armed with a strong strategic plan that focused on optimize efforts along with a people and culture transformation underway, the bank's leadership, divisions, and HR teams were fully aligned on clear, actionable objectives, driving focused efforts across all business units. The HR function was successfully transitioned into a strategic partner, supporting the bank’s talent needs in alignment with the overall strategy. 

The right level of integration and streamlining occurred to ensure the bank preserved what was precious across all of its divisions, including its most recent acquisition. And the bank’s stock price doubled, reflecting the market’s confidence in the company’s strategic direction and execution.