Friday, 19 April 2024

Selection Criteria

Every year, The Asian Banker Leadership Achievement Awards Programme recognises individual and institutional leadership. The award is widely acknowledged in the financial services industry as the highest possible accolade available and is a highly coveted individual award.

The Selection Process

The selection process begins in December of the previous year and ends in March, involving a team of about 10 researchers working in tandem. The initial selection is through a survey and desk research done by the research team at The Asian Banker. We corroborate our own findings with interviews with industry experts and practitioners as well as competitor institutions.

The identified candidates are then subject to further scrutiny through interviews, and their names are submitted for a review by the council of advisors for a final evaluation. The council of advisors then make the final decision.

To recognise individuals who reshaped not only the institutions that they worked for, but the entire financial services industry in their respective countries and regions, The Asian Banker seeks to recognise people who are considered giants in the industry because of their lifetime contributions and leadership.

This is perhaps the most prestigious of the achievement awards, as it recognises those who have gone ahead of us in the industry, and have distinguished their reputations, skills and achievements over a lifetime, setting the benchmark from which we assess others who distinguish themselves on current achievements. The lifetime winners recognised in the past have made considerable contributions to the building of institutions that have gone from strength to strength, and in some cases have created an entire industry in their respective countries.

There is a common thread among those who have won this recognition in the past, even when we were not specifically looking for these traits: humility, integrity of the highest order, larger than life accomplishments in the industry and an uncanny common sense that is increasingly ignored in business today. Their accomplishments are well regarded by both friend and foe alike, regardless of whom we interview to get a peer review. Only a few men and women will ever win this prestigious recognition, and those who do will always be a beacon to the rest of us.

The award has been renamed “The William “Bill” Seidman Awards for Lifetime Achievement in Leadership in the Financial Services Industry” in memory of L. William “Bill” Seidman, the former chairman of the Federal Deposit Insurance Corporation, who served from 1985 to 1991 and worked for US Presidents Gerald R. Ford, Ronald Reagan and George H. W. Bush. Seidman was a close friend of the Asian Banker and spoke at the Asian Banker Summit. He exemplifies fully the qualities that we expound in the Awards.

The criteria by which we assess candidates for this award are:

  1. Time spent in the industry (we also take into consideration time spent in other industries that contributed to a candidate’s involvement in the financial services industry).
  2. Assess the candidate relative to peers in the industry, with achievements over and above peers in the industry.
  3. We assess the performance of the institution(s) for which the candidate demonstrated leadership in terms of financial and business achievement. We assess the candidate’s statesmanship as demonstrated by activities outside of the institution.
  4. We look for specific incidents during the candidate’s career that demonstrate leadership ability in terms of the degree of difficulty, tenacity, and creativity in solving these incidents.
  5. We review performance against the transformation taking place in the industry, such as liberalisation, intense competition, the impact of technology, and others in the industry.
  6. In all the time the person has been in the industry, the highest level of integrity, a larger-than-life accomplishments in the industry, and an uncanny common sense will be ever-present traits.

The Global CEO of the Year Award recognises the exceptional achievements of CEOs, chairpersons, and boards in the financial services industry worldwide. The award is the highest accolade for any incumbent bank CEO or chairperson. The award for Global Bank of the Year is presented in conjunction with the Global CEO of the Year in the belief that true leadership results in strong and sustainable franchises.

The programme is predicated on the belief that leadership is demonstrated by the ability to execute a well-communicated vision, inspire a strong management team, and overcome specific adversities to deliver a strong and sustainable financial and business performance.

This highly-coveted award is one of the most difficult and exclusive recognition programmes in the industry due to its rigorous evaluation process. The assessment considers the financial performance of the institution, the alignment between the stated vision and strategy, and the actual achievements, the specific leadership qualities of the CEO or chairperson, and a peer review based on feedback from the industry. The final selection is reviewed and validated by a distinguished Council of Advisors.

The assessment for this award is based on following criteria:

  1. Financial performance of the business. Strong bottom line performance is the first determinant of a leader’s suitability for consideration for this award. But we also look at the sustainability of the business and the commitment to shareholders through stringent cost management and the ability to respond to competition over time.
  2. Specific achievements. The size and complexity of the achievement(s), the degree of difficulty and challenges encountered and overcome that demonstrates courage and leadership are taken into account.
  3. Based on a well-communicated vision. Businesses and their leaders are shaped by a long-term vision that is demonstrated not just by statements, but also through the long-term development of a strategic business plan that defines a business. We look at statements made by the leader and the execution that supports those statements.
  4. Augmentation by a good team. Sustainable businesses cannot only be built around individuals, but the strength of a team following a singular vision that can also react to incidents as a single entity. We look at the people around the leader, their commitment levels and sense of ownership of the businesses and operations entrusted to them.

The CEO of the Year in Asia Pacific Award recognises the outstanding achievements of top executives, the highest accolade for individual achievements in the financial industry in Asia Pacific.

The programme is predicated on the belief that leadership is demonstrated by the ability to execute a well-communicated vision, inspire a strong management team, and overcome specific adversities to deliver a strong and sustainable financial and business performance.

This highly-coveted award is one of the most difficult and exclusive recognition programmes in the industry due to its rigorous evaluation process. The assessment considers the financial performance of the institution, the alignment between the stated vision and strategy, and the actual achievements, the specific leadership qualities of the CEO or chairperson, and a peer review based on feedback from the industry. The final selection is reviewed and validated by a distinguished Council of Advisors.

The assessment for this award is based on following criteria:

  1. Financial performance of the business. Strong bottom line performance is the first determinant of a leader’s suitability for consideration for this award. But we also look at the sustainability of the business and the commitment to shareholders through stringent cost management and the ability to respond to competition over time.
  2. Specific achievements. The size and complexity of the achievement(s), the degree of difficulty and challenges encountered and overcome that demonstrates courage and leadership are taken into account.
  3. Based on a well-communicated vision. Businesses and their leaders are shaped by a long-term vision that is demonstrated not just by statements, but also through the long-term development of a strategic business plan that defines a business. We look at statements made by the leader and the execution that supports those statements.
  4. Augmentation by a good team. Sustainable businesses cannot only be built around individuals, but the strength of a team following a singular vision that can also react to incidents as a single entity. We look at the people around the leader, their commitment levels and sense of ownership of the businesses and operations entrusted to them.

The Leadership Achievement Awards programme recognises CEO leadership of financial institutions, complex businesses that are central to the economies of the countries in which they operate. To ensure that heads of banks in each country can be reviewed over a meaningful period of time, this award is made only once every three years.

The awards are based on a very rigorous evaluation process, starting with a region-wide survey in January, a review of three years financial performance of the institution and a review of the strategic initiatives of the organisation.

The assessment for the awards is made on four inter-related criteria:

  1. The financial performance of the business under consideration over a three year period. Here we look at annual results, or the financial performance of the business under review. Strong bottom line performance is the first determinant of a leader’s suitability for consideration for this award. But we also look at the sustainability of the business and the commitment to shareholders through stringent cost management and the ability to respond to competition over time.
  2. Specific achievements in the years under review. We then look for either a specific achievement or a series of achievements in the years under consideration. The size and complexity of the achievement(s), the degree of difficulty and challenges encountered and overcome that demonstrates courage and leadership are taken into account.
  3. Based on a well-communicated vision. Businesses and their leaders are shaped by a long-term vision that is demonstrated not just by statements, but also through the long-term development of a strategic business plan that defines a business. We look at statements made by the leader and the execution that supports those statements.
  4. Augmentation by a good team. Sustainable businesses cannot only be built around individuals, but the strength of a team following a singular vision that can also react to incidents as a single entity. We look at the people around the leader, their commitment levels and sense of ownership of the businesses and operations entrusted to them.

This award is made in conjunction with the Leadership Achievement Award in the belief that true leadership results in strong and sustainable franchises, either at the local or regional levels. It recognises the leadership of banks’ chairmen or CEOs in demonstrating vision, character and skill that has led the people in their institutions to become the best managed in the industry in the period under review. The “Best Managed Bank Awards” programme is predicated on the following qualities:

  1. a superior domestic franchise under the leadership of the chairman or CEO,
  2. strong commitment to domestic customers at the product and service levels,
  3. strong governance structure at both the board and management levels under the leadership of the chairman or CEO recognised in the Leadership programme,
  4. the ability to execute on strategy and respond to changes in the marketplace,
  5. leading towards a stable and long term commitment to all shareholders.

The Promising Young Banker Award programme, held every three years, recognises the achievements of outstanding bankers under the age of 40 with bottom-line responsibilities. The programme tracks the career development of next-generation leaders in the increasingly complex financial services industry. The award is given to a select group of promising, young executives from each country representing different disciplines in the following: retail banking, transaction banking, risk management and technology, amongst others. It gives participating institutions the opportunity to make use of this programme to validate their own internal succession and grooming process.

The programme enables The Asian Banker to research and document the transition process, and to learn from the changing dynamics, the generational differences and the challenges that future leaders are faced with today. We hope that the report we will come up with at the end of the evaluation process will be valuable to the industry.

The assessment for this award is based on following criteria:

  1. Candidates must be under 40 years of age (there is no minimum age) and currently working in a financial institution or a regulatory agency in any capacity.
  2. Candidates can be recommended for these awards strictly only by their chairmen, CEOs or board members in the form of a letter of recommendation to The Asian Banker.
  3. All institution can submit recommendations for more than one candidate. It is also possible for more than one candidate to win this award from any institution.
  4. Serving CEOs who are under the age of 40 can also be considered for this award.
  5. Candidates can be from any field of business (retail banking, corporate and investment banking, transaction banking, etc) or operational lines (technology, operations, risk management, etc), but must have roles that contribute to the bank’s bottom line.
  6. The letter of recommendation and/or its supporting documents must provide very specific statements (not general assertions) on the following three areas:
    1. The candidate’s performance in recent roles or projects given to them, with a clear statement of how the candidate made a tangible contribution to the bottom-line of the business or operation.
    2. The management’s assessment of the candidate’s (1) all-around skills, (2) instincts to build sustainable businesses, (3) a visionary, (4) perception of peers, (5) other roles and factors in his or her career that qualifies the candidate for leadership positions in the future.
    3. The candidate is likely or logical specific career trajectory as seen by the board or the person making the recommendation.

The Innovation Leadership Achievement Awards programme is designed to recognise the achievements of outstanding individuals who play a pivotal role in introducing and implementing authentic innovation in their organisations. These are executives whose vision, efforts, and commitment inspire and champion the innovation capabilities that are already well regarded by peers in the industry.

The programme is predicated on the belief that leadership in innovation is demonstrated by the ability to execute to a well communicated vision as an innovation champion, by inspiring and leading a strong team, with courage and passion in overcoming specific adversities in order to deliver a solution that has the potential to disrupt the market and achieving a strong and sustainable business performance.

This awards programme aims to identify leaders in innovation in financial institutions, non- banking financial institutions as well as fintech and other organisations. We encourage institutions to submit their nominations for this programme. The participation of institutions will also underscore the seriousness that they place in promoting innovation and developing leadership programmes.

The assessment for this award is based on following criteria:

  1. Distinguished career: A distinguished career with a strong track record in leading successful institutions with notable innovations and initiatives that are well regarded in the industry as well as supported by robust business performance. Candidates from small institutions will qualify as much as large institutions as long as they are recognised for their innovation and tactical superiority in the marketplace.
  2. Vision and commitment: We look for inspiring stories of achievements and the long-term outcome of these decisions that the candidate may have made. The candidate’s vision as an innovation champion and facilitator and the impact the leader has made in the institutions is critical in our assessment. We also take into consideration the adversities the leader has faced and the tenacity in overcoming them.
  3. Significant achievements: We take into account outstanding achievements or a series of achievements for the years under consideration. The size and complexity of innovative initiatives, overcoming difficulties and challenges that demonstrate the leadership, are also taken into account. The financial performance and business achievement of the organisation for which the candidate demonstrated his leadership are also being considered.
  4. Ability to inspire and build a team around innovation: Sustainable innovation cannot be built around individuals, its success rests on the strength of a team that follows a clear vision. We look at the ability of the leader to inspire and bring together an innovation team whose achievements can produce an exceptional difference to the organisation and the financial services industry.

The Financial Markets Leadership Achievement Awards programme recognises CEO leadership of financial market institutions that are operating in the pre and post trading landscape. The awards are conferred every three years to ensure that heads of financial markets institutions across the region can be evaluated over a meaningful time period.

These awards are based on a very rigorous evaluation process, starting with a region-wide survey in January, a review of three years financial performance of the institutions and an evaluation of the strategic initiatives of the organisation.

The assessment for this award is based on following criteria:

  1. Execution of a defined strategy. Financial market institutions are shaped by well-developed strategic business plans, spearheaded by senior management. We assess strategic undertakings of top management and its subsequent implementation.
  2. Making a difference to the institution. We look for the most compelling achievements in the years under consideration that impact the organisation. The size and complexity of the achievements, as well as capacity to overcome challenges are qualities that constitute leadership.
  3. Demonstrated superior 3-year financial performance. Here we evaluate the annual results of the institution under review. Strong bottom line profitability is the first determinant of a leader’s suitability for consideration of this award. We also determine the sustainability of the business and commitment to shareholders through enhanced operational efficiency and ability to respond to competition over time.
  4. Setting an industry benchmark. The institution must be recognized as having introduced products, processes or systems that have changed industry standards. This has been accomplished under the visionary stewardship of its leader.


For more information on the awards programme, please contact:
Foo Boon Ping
bpfoo@tab.global
Tel: (65) 6236 6526

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