Gina London

SVB Bank failed because its leadership failed

In the mid-2000s, SVB was known as the "bank to the innovators" and had built a reputation as a leader in technology banking. However, by the end of the decade, the bank had experienced significant losses, failed to meet its capital requirements, and was forced to seek a bailout from the government. The failure of SVB was not due to a lack of innovation or market conditions but was primarily caused by poor leadership decisions. 

One of the main reasons for SVB's failure was the leadership's over-reliance on the technology industry. The bank had focused too heavily on serving tech startups and had neglected to diversify its portfolio. When the tech industry suffered a downturn, SVB was left exposed, and its losses mounted quickly. This lack of diversification was a clear sign of poor leadership decision-making, as it put the bank at unnecessary risk. 

Another factor contributing to the bank's failure was the lack of risk management practices. SVB's leadership had failed to properly assess and manage risks, particularly in its lending practices. The bank had become too lax in its lending standards, leading to a significant increase in non-performing loans. This lack of attention to risk management practices was a clear failure of leadership and left the bank vulnerable to financial instability. 

In conclusion, the failure of SVB is a clear example of how poor leadership decisions can have devastating consequences, even for the most successful and innovative companies. Effective leadership is essential for the success and sustainability of any organization, particularly in the financial industry. Leaders must prioritize risk management, diversification, and strategic planning to ensure the long-term success of their organization. 

by Gina London

Leadership Lessons from Jacinda Ardern

Five years ago, when she became the world’s youngest female head of government, her leadership was consistently under scrutiny.  Let’s review a few of her attributes -including her thought on whether women need dial up our volume. 

1. Rock the boat 

One of the first remarkable things I remember about the New Zealand prime minister was back in 2018 when she provided the opportunity for another young woman to steal the show (and the hearts) at the United Nations General Assembly. I’m referring, of course, to the moment Jacinda Ardern became the first world leader to attend a session with their baby in tow.   

I know, I know, for the many of you who spent the last couple of years working from home with small children popping into virtual meetings on regularly occasion, this kind of disruption probably doesn’t seem like a big deal anymore.   

But zoom out beyond the Zoom room, and consider the status quo within your organisations.  How are meetings run? How do you as a leader actively facilitate - or do you? Have you quietly thought of ways that services or policies could be run differently? What are the ways you can shake things up – in a good way?  

1. Use humour 

If you are planning to offer a disruptive opinion or even a thoughtful suggestion into your next leadership meeting, consider wrapping it with humour.  It’s not about undermining your authority as a contributor, but it is about seeking ways to bring people along with you. Humour can act as a consensus conduit.  

Consider, for example, how Ardern was praised for her handling of the first wave of Covid restrictions.  When she rolled out the strict April 2020 lockdown announcements, she also made a point to confirm that both the Tooth Fairy and the Easter Bunny were considered essential workers. It was this kind of deliberate softening of an otherwise tough message that kept people connected to her in a human and understanding way.  

1. Be kind – deliberately 

In fact, her consistent human touch, became her superpower as a leader.  When she turned up support survivors of the deadly Christchurch mosque mass shooting, the press and the public were divided on her choice to cover her hair in solidarity, but everyone praised her decision to hug both women and men equally.  Her choice to be kind did not indicate weakness, as she demonstrated by swiftly enacting gun control laws in only a matter of weeks after the attack.  

1. Be a bridge 

And now, for those of you who have kept reading to the end and who, like my executive coaching client, might feel pressure to be “the loudest voice in the room,” Jacinda Ardern also said this: “To me, leadership is not about necessarily being the loudest in the room, but instead being the bridge, or the thing missing in the discussion and trying to build a consensus from there.”  

• Gina 

by Gina London

Leadership Wrapped in Tiffany Blue

The robin’s egg blue of a Tiffany & Co jewellery box.  I’ll bet as soon as you read that, you can picture the iconic colour.  

The New York based company first used that shade on the cover of one of its catalogues way back in 1845. Since then, the tone has become synonymous with sophisticated and stylish jewellery.  Over my lifetime, whenever I have received a gift from Tiffany, each occasion brings a smile to my face as I tear off the wrapping paper to reveal that signature-coloured box with its crisp, white ribbon.  

And now, I’m delighted to share some special gifts with you from none other than Jennifer Budveit, the Director of Global Learning and Development for the distinctive brand itself.  

Jenn has been with Tiffany for three years but her family’s history seems to almost have destined her to the role. Jenn’s great-grandmother was a chef to the Tiffany family.  

“We still have Tiffany dishware that came from the time she was with the family,” Jenn told me recently over Zoom. 

One of her first tasks, like many other company people managers during 2020 and lockdown,  Jenn managed the pivot to digital learning.  She also oversees the Tiffany & Co. corporate university, TiffanyU, which offers internally designed and developed learning and growth opportunities to all employees. Here for you now, some leadership gifts shared by Jenn.  

Gift number one: Embrace a setback 

“I grew up in a dance family in New York,” Jenn said, “I had been dancing since I was a child. I took lessons all through high school and thought I would go to college for dance as well.”  

But when she auditioned and was accepted to the Boston Conservatory, the tuition was simply more than her family could afford. Next, she applied to a New York state university that had a dance programme. “But I didn’t fit into the programme for a number of reasons.”  That moment twirled her into a different direction.  

Gift number two: Resilience is what happens next 

“I remember my whole life was laid out for me and then it wasn't,” Jenn said. “My mom picked me up from school one day to drive me to dance. She handed me the envelope from the state university I had applied to. I remember thinking immediately it was a rejection letter because the envelope was so thin. But my mom had no idea and she was eager to have me open it. So I did.  And yes, the bad news was inside. I burst into tears. I cried in the car. I cried at the dance company. There were way more tears than I like to admit now. 

“I was 17 and I felt like my life was over. It seems superficial now, but I had it all mapped out and that’s how it felt. I’ve since learned that when you experience a setback, it is okay to be devastated. It's okay to be emotional. Resilience is what you do next.  

“I had to think about taking another path and it was a huge lesson. I didn't realise it at the time. But my life, like so many others’ lives, has been built on what you cannot control. Things happen. What you do next is what matters.” 

Gift number three: There is not one path to success 

When the tears finally subsided, Jenn received some sage advice. “My instructor said, ‘Don’t go to school for dance. Do it now. Become a professional ballerina.’ And that is what I did. I stayed home for college and danced in a ballet company. I danced all the roles I wanted. I was the sugar plum fairy and the Spanish dancer in The Nutcracker, I enjoyed myself.”  

While she simultaneously managed her college studies and dance performances, Jenn also worked as a dance instructor and began performing management roles at the ballet company. At twenty-something and finished with college, Jenn took a break from dance. She eventually landed an HR generalist role. From there, she became an instructional designer developing training programmes and earned a master’s degree in instructional and performance technology.  

“How to improve job performance is mastering another kind of performance. I love it,” said Jenn. 

Gift number four: Develop a passion for continuous learning 

Arriving at Tiffany, Covid hit during Jenn’s first six months on the job. One of her tasks became managing the shift to digital learning.  

“As a person, there are consistent behaviours and a mindset that can be leveraged through all of this. Be agile. Be able to pivot. Embrace growth,” Jenn advised.  

“The rate of change is never going to be slower than what it’s been today. It’s not about change management anymore, as in ‘we’ll get through this and then things will calm down.’ It’s ‘how do we move through constant and ongoing change’.” 

Having different experiences and backgrounds are important. From ballerina to global head of learning and development for Tiffany & Co, treasure your seemingly disparate moments. Learn to make the connections. Your life may not be wrapped in light blue and tied with a white ribbon, but it is still a gift.  

by Gina London

Leadership Lessons from the Queen B

As I watched her stride onto the stage at the 2023 Grammy Awards, her long, brown hair dipped in blonde and her body dipped in a form-flattering silver and gold strapless gown complete black leather shoulder-length gloves, she certainly was striking the pose of a confident leader.   

Already, one of the most successful African-American women in music, the pop superstar, who only needs her first name to be recognised, made history that night as she accepted a record-setting 32nd trophy for her most recent album, Renaissance.   

Sure, she’s confident.  She’s been singing and dancing at sell-out arena concerts in very revealing costumes for decades. I’d imagine enough of that experience would build body confidence in even the most introverted of performers.   

But it’s another leadership characteristic she consistently exhibits that strikes me. I contend, it’s her grace which gives her such universal appeal (along with that talented voice, of course).  Grace, according to a quick Google search, is not only the ability to move with smoothness, (definitely a Beyoncé trait), but also “courteous good will” or “bringing honour or credit” to organisations you may influence. 

Since the time she began her career at the tender age of nine, through her days with girl group trio Destiny’s Child until now as the Queen B, Beyoncé has kept herself virtually scandal free.  There have been a couple of controversial lyric choices that she quickly modified or dropped altogether. And there was that track from her 2016 album, Lemonade, which was inspired by rapper husband Jay-Z’s alleged infidelity during their marriage. But that’s on him, not her, right? Frankly, I think the song was a pretty classy way to teach him some manners.  Their marriage has endured, and she thanked him during her historic Grammy acceptance speech.  

As we forge our career path and consider our impact past, present and future, I think it’s also worth remembering that one of the most alluring things a leader (of any gender) can possess, is grace.  

by Gina London