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Challenge
Paine Webber and Company, the fourth largest private client firm in the United States with 385 offices employing over 9000 brokers was acquired by the Swiss bank UBS Financial in 2000.
As the corporate VP in charge of the technology and sales integration, it became apparent to me that in this vital transition; the education and integration of technology, internal product and development, and the national sales teams would be a critical factor in the pursuit of achieving success.
We discovered that the company was in trouble because while they had invested in certain technology as well as human capital there was no real education for implementation in place.
CrossBow Solution
We needed to create a new program that would show specific usage tied to a growth in total company value and assets.
Our strategy was to collaborate with key partners across the firm and create a highly effective educational program with an advanced learning environment and University like atmosphere. We presented the value and benefits up front to all the participants in order to get immediate buy in and continued success.
We created an on site program supported by online seminar approach in order to limit costs and reach every employee across the country. It was also imperative to create the right measurement tool in order to report to senior management incremental progress as well as the specific affects on the company’s total value.
Result
Our success was wide spread across the country.
We were able to create an atmosphere of collaboration between the key departments. We were able to enhance the knowledge and effectiveness of company employees. Employees gained because they could leverage the technology to increase their level of client service, become more efficient and effective, and in turn affect sales through an increase in total portfolio value and assets under management. |
