The UK division of a global financial services brand had enjoyed spectacular revenue and profit growth for many years. Back office functions were stretched, uncoordinated and losing credibility with front office business units. The client sought a new COO to reposition and transform group operations:
- Introduced a professional services firm ethos across 400 fte in COO functions (Finance, Technology, Risk, HR and Admin). Created a service contract for each function setting out COO brand standards and service level guarantees to each business unit.
- Transformed the group risk model (1st, 2nd, 3rd lines of defence) while the division operated under interim permissions from FCA
- Repositioned technology via scalable ‘asset light’ SAAS, a lean ‘change’ strategy and upgraded investment appraisal process
- Coached new CFO, transformed procurement function and monthly management reporting
