Growth Management Ventures, LLC
Regional Business and
Consumer Bank, Glendale, CA
Transformed company into top performer
Retention of key
staff who were previously jumping ship
Engaged to halt turnover of top managers while helping define, then accelerate execution of crucial elements of a turnaround.
(Previously an executive from one of the nation's largest banks, the President had been recruited to turnaround this small regional bank. However, soon after he joined, senior staff began jumping ship fearing impending layoffs.)
To immediately halt senior staff defections, “turnaround” tasks were assigned to all key personnel. Then, over one year, groups of executives, managers and key personnel were facilitated through weekly project-management and training sessions, to manage and accelerate application of “big-bank” controls and aggressive marketing on this small bank.
Results included an immediate halt to staff turnover, financial controls implemented throughout the bank, achievement of its first ever business profit, and consistent quarterly profit from that point forward.
Within two years the company was heralded as one of California’s best-managed banks. This enabled them to achieve significant growth during a banking industry downturn, from incremental growth at the branch level, and by leveraging their healthy balance sheet to acquire the assets of competitors, significantly growing their portfolio and customer base.
“Your process helped us break through the emotional paralysis that often overcomes people involved in a turnaround situation… When we saw the results, we proceeded to put virtually all our key people through it, and I’m glad we did. I highly recommend this program to everyone…except my competitors. Let them struggle like everyone else.”
J. Nick Baker
© 2004 Growth Management Ventures, LLC