Studies in succession planning

Of all the problems business leaders grapple with, succession is one of the most complex, and one which can demand months, often years, of forward planning to deliver good results. As the CEO of the Complectus group of companies, which incorporates the corporate trustee services companies Guardian Trust and Covenant Trustee Services, I have been involved in recent succession planning at high – and high-stakes – levels, collaborating with Guardian Trust’s Bryan Connor and Covenant’s Graham Miller as they have made long-term leadership changes.

Here, in Bryan and Graham’s own words, are two instructive tales of succession planning:

Bryan Connor
Then: General Manager, Guardian Trust
Now: Director Corporate Trusts Local Board

After 46 years in the trust industry and 11 years in the top job at Guardian Trust, the time was right for me to move on. With my colleagues I started planning for this about a year in advance, and after an external and internal process, Mark Jephson was appointed as an internal promotion. The reasons for the choice of Mark were manifold – he was experienced in financial services, and he knew the Guardian Trust business intimately, having joined it a decade ago – but among the most important elements are his integrity and reputation. He is an innovative and strategic thinker who is able to preserve Guardian Trust’s market status as a thought leader.