IMD-3-1813 © 2007
Buechel, Bettina; Moncef, Anna
Matt Barrett, CEO of Barclays, signed up with the bank in 1999 and had actually been appointed an objective to change the bank from "a huge UK bank messing around abroad to an international bank which occurs to have a strong UK franchise". The bank "lost its method", after years of underperformance and a number of considerable industrial crises its market capitalization rank fell from 4 in 1980 to 22 in 2000, its company lost self-confidence in being among the leading world banks. The case demonstrates how Matt handled to turn-around the bank and concentrates on the very first 2 years of this improvement.
Knowing goals: Expose individuals to exactly what it requires to produce a sense of urgency within a business that was carrying out listed below market average. The case permits a conversation on the essential levers of modification in a circumstance of a brand-new leader entering a company.
Subjects: Change management; Turnaround, CEO impact; Leadership
Settings: UK; Global: Financial services; 113,300 employees in 2005 and turnover £9,288 million; 1999 turnover £17,978 million; 1999-2005
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