Liberum Investment Bank
Transition into the role of CEO and subsequent leading of the business
As told by the CEO:
From a personal coaching standpoint it was invaluable to assess what success looked like. There is a tendency to want to conquer the world and by identifying what would be a good result enabled me to focus on the key issues and move away from some of the other headline grabbing issues of a big new appointment. These range from exploring areas of my own skill set that needed work before hand to what is the impact on the rest of my life including family and other relationships. This holistic approach kept a lot of things in perspective and allowed a smooth transition into the role.
Preparing the Stakeholders. As much as you might think it is the best news in the world not everyone will think it the same way. With careful planning and preparation and rehearsing conversations and predicting meetings and developing strategies for each different group of stakeholders meant that I was aware of a wider range of issues. Winning that group over and giving them some clear time lines for action and progress kept the pressure of delivery off from day one and it also the sense of change filtered through the business much quicker.
Developing the Plan. I had very clear ideas on where the business needed to go strategically but almost a bigger task was to look at the structure, lines of communication, committee constituents, reporting and leadership positions. LSP were the sounding board, voice of reason and concern on many issues regarding these changes. Everything from understanding the impact of change on an organisation through to developing a leadership programme for a wider team as well as being a view from outside of the organisation. As a general rule there are very few people internally who can give impartial advice or views. LSP have no axe to grind or other agenda than making you successful and so you can explore ideas, themes and concerns free of compromise. I think that invariably you get to the right answer yourself but they do a great job in challenging and questioning why you are doing something. With their help I implemented a new management team, better internal communication, cross department collaboration, departmental plans, leadership development and revenues up 63% all in a six month period.
Bringing the team together. I needed a way to make sure that the new management team knew what their roles were and who their peers were and what sort of leaders they were and what was expected of them. The LSP team developed a successful and practical programme that explored the personalities of the team, their roles that were expected of them and even how to construct a plan and utilise the skills of the team around them.
Implement, Assess and Adjust. One of the great benefits to me of LSP is the constant assessment of where we are at, have we achieved what we set out to do and does success still look the same. It is not a static programme, things change in many ways and being flexible, in communication and alert to issues big or small is a great way of working. Not everything developed as we thought. Between my senior team and LSP we have managed to adapt plans to any situation that we have assessed needs a change of emphasis or tack. This is both at a personal level in dealing with challenges and relationships and problem areas as well as helping the team at the broadest level.
“For me the relationship has been a great success and I truly value the input from the LSP team. Nothing takes away the fact that ultimately the decision, success and failure and the end result is your responsibility but by using LSP I have achieved almost all of what I set out to do and have achieved it with non judgemental partners who help to put specific issues in context and invariably get you to the route of the problem.”
Simon Stillwell, Former CEO.