Russell Reynolds Associates: Best Strategies for Transforming Banking Organizations
Russell Reynolds has published an article outlining the best strategies for the transformation and restructuring of banking organizations, in an effort to meet the changing expectations of the time. Based on an analysis of 25 leading consumer banking organizations, Russell Reynolds pinpointed the internal organizational structure of the bank and its talent as the main factors affecting the implementation of the digital evolution within the industry. With these two factors in mind, Russell Reynolds has produced a set of strategies to help ensure the future success of banking organizations.
A few of the strategies suggested are:
- Redesign the current traditional hierarchy within the organization.
- Put technology experts in senior business roles.
- Decide the pace of organizational transformation.