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Published byPhyllis Holt Modified over 9 years ago
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0 20 Church Street Liberty Corner, NJ 07938 P: (908) 604-9336 F: (908) 604-5951 finpro@finpronj.com www.finpronj.com Effective use of Succession Planning to Drive Value September 6, 2013
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1 Is Succession Planning is connected to value? Value is driven by: Loan generation Deposit generation Relationships Non interest income opportunities Expense control All of these are people centric More often than not, buyers buy people not banks!
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2 What do all the most valuable companies have in common? They have the best people who Are paid based on success, and Demand a culture of excellence
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3 Formal management succession planning is a duty of the Board and CEO and should be driven by multiple obligations (not just the regulatory requirement)... A management succession plan is critical for : business continuity preserving shareholder value employee morale Yet according to the National Association of Corporate Directors: 44% of public companies lack a formal plan 40% of financial institutions lack a formal plan The plan should incorporate a short term contingency strategy, as well as a longer term more permanent component to identify and groom key individuals to assume senior management roles including the CEO’s Graphic from American Banker October 5, 2009
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4 As Bankers, we stink at talent management... Major problem as people are our number one asset Key to relationships One of 7 P’s of growth We do not have young talent in the business, many think of banks as dinosaurs Rather than infusing talent, we recycle and retread We do not have effective training Tends to be generic, not institution or job specific We appear incapable of thinking outside the box
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5 To continue reading this presentation, please visit FinPro Central Hub FinPro Central Hub
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