Case Evaluation of 1st National Financial institution Essay

First Countrywide Bank

A Case Study" If we don't change, we don't grow. If we avoid grow, we aren't really living. ”-Gail Sheehy| Amil, Paula BiancaIsidoro, Joanna MarieRojas, RobertSampang, Makrene LaraSeptember 17, 2010Prof. Aliza Racelis

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EXECUTIVE OVERVIEW

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Standpoint: Sammy Viray, New FNB President

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History

Sammy Viray and his analysis of the bank

* In Summer 3, 93, Sammy Viray reported to First National Bank (FNB) as its new president. 2. Studied in one of the prestigious Flowers League colleges in the US and rose to become an influential financial institution officer for Citibank, a multinational bank, in the ‘80s and the director of a government bank prior to joining FNB. * Following weeks of observation, he thought that the lender needs a " major surgery”. He made a directory of what must be accomplished within his 1st year because president: 5. Modernization of operations through computerization making all department operations " on-line. ” * Divisions and departments should have economic targets. 5. Human Resources Development programs were needed.

5. New products and services needed to be introduced.

* More twigs should be opened.

* He was convinced that FNB should not spend time because of the liberization of the financial industry. 2. He thought that younger staff seemed to be even more aggressive and capable of coping with his vision. The lender

* First National Lender has been in business for 3 decades.

* It includes 50 branches as of 93.

* It has a international partner with 40% interest upon FNB's shares. * Sixty percent of FNB's stocks is definitely held by a single relatives who dominates he administration policies at the Board level. * Since the former director was Chinese, majority of the bank's business dealings had been with the Chinese language community. Traditional bank Employees

* The previous president of the bank, Gerry Tuazon, served the bank to get 15 years prior to staying promoted as Chairman with the Board. It absolutely was known within just that bank that he was pressured to relinquish his position while president. * Many part managers had been over 50 years of age and were hired based on recommendations in the major stockholders. * A few department representatives of the banks were small graduates. 5. There was no labor union in the financial institution.

5. Employees believed secure about how the supervision treated these people because of their relationship with the stockholders. Employees tied to the bank till retirement. -------------------------------------------------

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Problem

What change approach should Sammy Viray value to implement the alterations he anticipate to accomplish during his first year because president without compromising the morale of employees and driving aside existing Oriental clients? Short-term: What transform strategy may help maintain the morale of the staff and not refuse the existing China clients? Long-term: What change strategy will assist the modify be internalized by the members of the business in the long run? -------------------------------------------------

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Areas for Account

5. Branch managers are over 50 years old and were suggested by stockholders – usually takes the customers with them 5. Mostly fresh graduates master the investment banking and company services department * Close ties together with the Chinese community

* Simply no labor union – close relationships between employees -------------------------------------------------

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Assumptions

5. Changes will be implemented in a year – Approved by the board of directors 2. There will be no changes in the organizational structure 5. Implementation of changes will...

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