Banking with the best
Global banking faces some of the biggest challenges it has ever known, but thanks to strong leadership, the industry looks more than capable of navigating the path to profit
Global banking is in a period of transition. While it is not completely out of the woods yet – following the financial crisis and its repercussions – the industry has changed considerably, and must continue to evolve if it ever hopes to see a return to pre-crisis performance levels. And yet with the right people guiding the industry, banking may well prosper and could have a hand in regenerating the redistribution of wealth throughout the global economy.
The prolonged process of deleveraging banks, financial institutions, and households since 2008 has had a strong effect on credit supply and demand, with large US and European banks taking the time to clean up their balance sheets and sell legacy assets while trying to reduce their reliance on less stable funding sources, such as short-term wholesale funding, according to IMF’s 2015 Global Financial Stability Report. It has been a process that could linger for many years, and one that has shaken the industry to its very core. The long-term project of returning markets to something that looks like normality could go on for decades, but both short- and long-term progress must be directed by the right individuals.
Across the globe, other problems have not helped. Political upheaval and economic uncertainty have hampered the prospects of the Middle East and Latin America to some extent. That said, many of the banks in these regions have recovered to such an extent that confidence has surged back.
Despite the obstacles faced by the international banking community, the sector possesses a number of individuals that have managed to find solutions to arguably the biggest challenges the industry has ever faced. These individuals possess insight and skill that has helped better the industry, taking their organisations forward amid difficult market conditions. Despite the challenges, these individuals have planned for and targeted success, brushing aside a variety of problems on the road to recovery.
In recognition of the hard work and ingenuity of these individuals, World Finance has chosen the bankers that we believe are most responsible for steering the banking industry into a new era. With the help of our dedicated readership and internal panel of judges, few stones have been unturned in seeking out the best managers and strategic thinkers out there.
Africa
Segun Agbaje
Guaranty Trust Bank
Much of the CEO’s recent focus has been on financial inclusion and the importance of non-traditional banking. “If you want to stay profitable, continue to grow and support efficiency, then you have to develop new markets and alternative ways of serving customers”, said Agbaje, speaking on the importance of exploring innovative industry concepts. Recognising that banking is a service-driven business and that money should find its way ultimately to the customer, Agbaje is under no illusions about the importance of people in rising ahead of the competition. This commitment to both its customers and to alternative banking approaches has seen the bank reach the top echelons of the Nigerian industry.
Europe
Jean-Laurent Bonnafe
BNP Paribas
Since joining BNP Paribas as a senior investment banker in 1994, Jean-Laurent Bonnafe has carved out a solid career trajectory and pushed the bank to new levels of responsibility and reliability. Overseeing a number of strategic changes at the bank over the last few years, the engineering graduate has developed a number of different businesses angles and projects under the BNP Paribas umbrella. Hailed as a uniquely strategic thinker, Bonnafe has been a member of the bank’s executive committee since 2002 and has always endeavoured to push the bank’s retail banking portfolio into new territory. His knowledge of the company, and his desire for change, are his strongest assets.
Latin America
André Santos Esteves
BTG Pactual
André Esteves is the Chairman & CEO of BTG Pactual. He joined the company in 1989 when it was called Banco Pactual SA, and four years later was made a partner. During the time UBS AG has controlled Pactual, Esteves first acted as CEO of UBS Pactual and later as the global head of Fixed Income, Currencies and Commodities of UBS AG. Having founded BTG at the end of 2008, he formed BTG Pactual in 2009 with the repurchase of Banco Pactual SA. Esteves holds a BS in Computer Science from the University of Rio de Janeiro, and has received worldwide acclaim for leading BTG Pactual through Brazil’s changeable economic landscape, using an international outlook to drive growth.
Asia
Aung Ko Win
KBZ Bank (Kanbawza Bank)
Chairman of the KBZ Group of Companies, Aung Ko Win has rejuvenated the financial portfolio of one of Myanmar’s leading banking institutions. The country has struggled over the last few years but is finally getting back on track, and KBZ is in a healthy position to make significant gains – especially with a strategist such as Aung Ko Win at the helm. The chairman has been much lauded for his entrepreneurial spirit and drive – a combination that has taken KBZ from strength to strength. The firm encourages international investment in the country and has directed a number of projects that have put Myanmar in a fantastic position within the growing economies of Asia.
Australasia
Andrew Thorburn
National Australia Bank
Despite only having sat as Group Chief Executive Officer and Managing Director of one of Australia’s most prestigious banks since midway through 2014, Andrew Thorburn’s influence has been significant. The MBA graduate has been a long-term custodian of the bank, and has helped redefine the Australian financial services industry over the course of the last few years. Coming from an economics background, Thorburn is a strong motivator and outstanding strategic planner. The NAB Executive Leadership Team is studded with effective and experienced performers – Thorburn seems the ideal choice to lead that team forward, and to take National Australia Bank onto ever greater things.
Middle East
Dr Bernd van Linder
Saudi Hollandi Bank
A great advocate of pushing ever-higher levels of customer service, Dr Bernd van Linder has been a central figure in taking Saudi Hollandi Bank onto the next level of banking in the Middle East. Van Linder is widely considered to have an astute awareness of the position of the bank within its market (and of wider markets in general), is a firm strategist with outstanding experience, and is greatly informed on local and international banking regulations. The bank has flourished with him directing matters, and his ability to monitor the supply chain in both directions has won him numerous plaudits. Saudi Arabian banking has certainly felt his impact, and Saudi Hollandi Bank is benfitting.
North America
Bharat Masrani
TD Bank
Formerly the bank’s chief risk officer, Bharat Masrani’s background in the field of risk management has been felt in the way that TD Bank has conducted itself since his appointment as CEO. A relative newcomer to the post – having taken it on at the end of 2014 – Masrani has slowly but surely steered TD Bank into more efficient waters. As well as demanding success at all times, the bank has reconsidered its cost centres and reappraised its attitude toward capital markets, lending, and internal communications. Masrani has worked for the bank across the world and has experience in a number of roles/departments, meaning he is ideally placed to take the organisation forward.