Jean Elia has more than 26 years of international experience in insurance and bank insurance, out of which 14 as CEO of insurance companies in three countries. Since 2013, he is the CEO of Sogelife, subsidiary of Société Générale Insurance in Luxembourg, providing life insurance and wealth planning solutions for clients of private banks in Europe.
He defended his Executive Doctorate in Business Administration (Executive DBA) thesis in September 2021 on the topic of ‘Leadership of Digital Transformation. The case of CEOs in the banking industry’, under the supervision of Professor Maurice Thévenet, Professor at ESSEC Business School.
Thesis Direction
Pr Maurice Thévenet
Thesis Title
Leadership of Digital Transformation. The case of CEOs in the banking industry
Abstract
The evolution of digital technologies at an exponential pace, especially over the last decade, has led to the emergence of technology-based players that are disrupting all businesses. Companies are forced to launch or to accelerate their Digital Transformation in order to remain competitive, or even to survive.
In the financial sector, the rise of disruptive digital players such as FinTechs (financial technology companies) and neo-banks (payment banks essentially), is threatening incumbent banks with their business models and their value chains. This is driving them to accelerate their transformations and review the way in which they operate.
Leadership is a vital success factor for organisations, particularly when leading change. Conducting a Digital Transformation presents further challenges for leaders, in addition to those of running the business and dealing with financial, regulatory and risk constraints.
This DBA thesis develops a thorough understanding of Leadership in the context of Digital Transformation in the banking sector, via a Grounded Theory approach with bank CEOs, getting their real-life insight and perspectives. This includes an in-depth analysis of Digital Transformation and how it is shaping banking and interactions with clients, employees and other stakeholders. It further includes a comprehensive study on Leadership, in terms of characteristics, styles and contingency, as well as the specific role a leader has to personally play in this context, both from a theoretical and practical point of view.
In light of this better developed knowledge, the thesis proposes five major managerial recommendations in the form of a short guide for CEOs, on how to lead a Digital Transformation, from strategy to execution, and how to embark people in the organisation on this journey.