Leadership development that pays for itself (Case study)

At Royal Bank Financial Group, managers developed into leaders.
By David Brown
|Canadian HR Reporter|Last Updated: 06/14/2002

Late last decade, John Cleghorn, CEO of Royal Bank Financial Group (RBFG) presented his organization with a difficult challenge: cut $400 million out of operations while improving customer service and satisfaction.

At the same time, the introduction of new business models brought a dramatic culture change and called for a new style of leadership.

There was some talk of modifying the old leadership development programs, but others felt it was time for an entirely new program. The problem was getting the executives to agree to spend money on a new program at a time when they were supposed to be cutting spending.