In the CEO's Shoes: The Leadership Mindset for 2023
Shayne Elliott, CEO, ANZ; Peita Piper, CEO, Avenue Bank; James Boyle, CEO, Liberty Financial & Craig Edwards, CEO, Angle Finance; Diane Tate, CEO, AFIA
Proportionate regulation is a nice idea but it is not the current situation. Regulation comes at a cost to customers and the broader economy. Vulnerable customers at the margins suffer through financial exclusion. The question is where the right balance lies.
Digital innovation and data are essential to superior, efficient customer journeys.
Sustainability is core to the finance sector and investment is rapidly increasing. Clean energy investment in 2023 is USD$1.7 trillion compared to USD$1 trillion for fossil fuels.
Financial inclusions – helps lift people out of difficult situations.
Safe and transparent financial situations – business need to adjust to new challenges.
Intelligent Automation (IA) v. Artificial Intelligence (AI). IA uses AI to drive productivity.
Must improve productivity and scale while maintaining flexibility for customers.
CEOs set up structures to ensure across the board accountability through teams.
Higher purpose, values and agility are essential to leadership.
Social license to operate is about doing the right thing by customers, shareholders and employees while adding value to the economy and society.
Must behave ethically, with high standards, especially given information asymmetries.
Voting for safety over aspiration. Regulation often stifles business growth.