Right on the Money

AFTER joining Standard Chartered Bank in the last quarter of 2008, Gina Dela Vega-Cruz is now the bank’s new country head of Corporate Affairs. She will now be responsible in building the brand and profile of the London-based international bank, considered to be the oldest foreign bank in the Philippines with 137 years of operation.

Dela-Vega Cruz says Standard Chartered Bank has well survived the global economic crisis. She adds: “Our bank is a trusted institution that has navigated exceptionally well a particularly difficult global financial environment. As a Group, the bank ended 2008 with income rising by 26 per cent to United States $13.97 billion and operating profit before tax (OPBT), increasing by 13 per cent to $4.57 billion. I hope to further build on Standard Chartered Bank’s reputation as a highly liquid and well-capitalized flight-to-quality institution.”

Here, she talks about her outlook as a leader, plus how she gears up towards promoting and protecting the Standard Chartered Bank’s reputation.

Which businessman or woman do you most admire?

Gina Dela-Vega Cruz: I admire Joey Concepcion of the GoNegosyo fame because of his passionate and untiring advocacy for entrepreneurship as a way to alleviate poverty and keep Filipinos onshore instead of continuing as an Overseas Filipino Worker (OFW). He has rightly emphasized that the dream will take generations to achieve but, at least, he is contributing his talent and resources now, not to mention his family name, to make the dream a reality sooner. And, may I add, I also admire my boss--Eugene Ellis, chief executive officer of Standard Chartered Bank. He is astute but fair and he runs the bank as if it were his own business. Although Eugene is expected to push at all times for the success of the business, he could be also be counted upon to remain attuned to the needs of his people. 

What management principle do you follow? 

Frankly, I’ve not read many management books, but among the few that I have come across with, Built To Last has created an impact if only for its differentiation between companies whose success is short-lived and those whose success is enduring. 

What is the most important business event, good or bad, that has occurred in your working life? 

The global financial turmoil had so many of the world’s most recognizable company names, formerly thought of as among the strongest, if not the best, scampering for shelter. Until now, there is so much uncertainty, but I am fortunate to have joined Standard Chartered Bank which is coming out of this crisis a winner. We are not unscathed--nobody is--but we are definitely better off than most of our competitors. Modesty aside, we are miles ahead now of many of them.

Which is more important: what you know, or who you know, and why? 

Ultimately, it will be what you know that will determine how far you will go in any career or in any situation for that matter. Here in our country, particularly, some may have the fortune of owning a name that could open doors. Many brag about and use their political connections, but these things can only get you to a certain point. If you have nothing in your mind, nothing to share or contribute, you will be exposed sooner or later and either you die in embarrassment or leave voluntarily out of shame. Now, even if you do not have a famous name or the so-called connections, you will excel and stand out if you are armed with an excellent education, formidable experience, and the right attitude. Success comes sweeter that way, and is more long-lasting.

What does leadership mean to you? 

One could try to be profound about what leadership is and what it entails but, in the end, it all boils down to example. Leadership is having the courage to show people the correct way. It is doing right, speaking right, and acting right, and influencing others to do the same even if the tide seems to go the opposite direction. 

If you could change one thing about the business world, what would it be?

If I have a magic wand, I would make all businesses learn fast the lessons brought forth by the global financial turmoil, make them balance greed with a desire to do good and to make a lasting contribution to mankind in general that, in the end, will sustain and make their business succeed all the more.

Does money motivate you?

I would be a hypocrite if I say no as I am also practical and my family has needs that I have to address, but I am happy and proud to say that money is NOT on the top of my list. I’d like to believe I have always been self-motivated and I try to achieve excellence for its own good. Achievement feels good. Excellent achievement feels even better.  

Do you think a person is defined by what she does for a living?  

For the fact alone that one’s source of livelihood takes up much of a person’s time, yes, it would definitely play a role in defining a person. But let me make it clear that it is not the be-all and end-all. I may be a public relations practitioner who takes charge of the external and internal communication needs of the oldest foreign bank in the Philippines and so, to a great extent, what I do and how I conduct myself even outside of my working hours are influenced by this significant role. I am, however, definitely much more than this role. I was also a former television and radio anchor, on top of being a mother, a wife, a daughter, a sister, a Paulinian in elementary and high school, a University of the Philippines college graduate, part Bulakeña, part Visayan, and so on and so forth. This simply means that although my work defines me, there are still so many facets and dimensions to that definition of myself. 

Do you see opportunities the competition doesn’t see?

Standard Chartered Bank is fortunate to be well-placed in this crisis. We remain strong, highly liquid, and well-capitalized. The greatest opportunity lies in that although competitors are still in disarray and are trying to put their acts together, Standard Chartered is positioned to continue building and deepening its relationships with its clients and providing them the kind of partnership they have come to expect from the Bank, only better.

Do you have new ideas about where to look for new ideas? 

I keep on reading newspapers, magazines, books, and any worthwhile material I can lay my hands on, including the Internet, radio, and TV. There’s a vast ocean of ideas readily available that one has no excuse not to be informed. Every single source of knowledge is also a veritable source of inspiration for new thinking, new inspirations. Make it a habit, too, to observe people and your surroundings to gain new insights. The next big idea could be just right there in front of you.

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