'Fine balance': Rania Llewellyn on fitting long-term inclusion goals into Laurentian's revamp
BNN Bloomberg
Rania Llewellyn joined Laurentian Bank with a mission to turn around an institution that was struggling to grow, but to also make major workplace culture changes. All while keeping Bay Street happy with the bank's financial performance.
“It's a fine balance. And that's why when we're setting priorities and setting objectives and you're looking at strategy, you really need to know where you're going. And then you need to chart a path and the mix of priorities throughout that will help get you there,” Llewellyn said in an interview.
When she was appointed chief executive in Oct. 2020, she took on a bank whose core business was struggling. The company faced fierce competition from its much larger rivals; it continued to lag on its digital capabilities and mobile app; and in late 2017, it suffered a setback when it found misrepresentations on some mortgages it sold to a third-party firm.
As Llewellyn takes on the task of putting the company on more solid footing, she’s also introducing more modern philosophies such as allowing employees to work mostly remotely and not requiring new hires to have prior Canadian experience.