The Vacancy That Was Never Planned For: Succession Failures in UK Financial Services
When a chief executive departs unexpectedly from a major UK financial institution, the board's first instinct is frequently to reach for the telephone and call a search firm. That instinct, while understandable, is symptomatic of a deeper failure — one that has been quietly accumulating for years before the vacancy appears. Succession planning in UK financial services remains, for too many institutions, a compliance exercise rather than a strategic imperative.