7 March 2022
Sumitra Moeller recently became Head of Financing Solutions at ABN AMRO. She leads a large and diverse department, in her own way. At crucial moments in her career, Sumitra was given the opportunity to develop, and she now gives that space to her team as well. Because the progression doesn’t come from the leaders of today but the leaders of tomorrow, says Sumitra. We talk to her about leadership, personal growth and women at the bank.
About fifteen years back, Sumitra had just finished studying history at the University of Edinburgh. She is 23 years old, exploring her career options and sees an opportunity in the banking sector. Through a recruiter, she makes an attempt, and he gives her an unambiguous reply: ‘You can forget even trying. You will never make it in the banking world.’ Sumitra – a British woman with Indian parents – apparently does not fit into his box. It makes her think: how can someone be so quick to judge?
The recruiter is wrong. She does get into a bank, and has been working for a bank ever since. Sumitra took a number of intermediate steps before joining ABN AMRO in 2015, learning something new every time. At one employer, she studied corporate finance, in particular that of financial institutions. At another, she spent time in real estate finance. At a third, the Royal Bank of Scotland, she learnt all about credit risk.
Why trust is so important
The common thread? ‘I have always found managers who invested in my development.’ She was constantly gaining new knowledge and experiences. Sumitra says she has been most fortunate at ABN AMRO. ‘It was there that I really had the chance to develop myself, be myself and spread my wings.’ She was given trust and a clear task within which she could determine her own way. That space to forge one’s own path is indispensable for personal development.
Sumitra first worked as managing director at ABN AMRO's London branch, then moved to the head office in Amsterdam. Now, as head of financing solutions, she leads a team of about eight hundred people. Her department provides larger loans – of over EUR 1 million – to corporate clients with a minimum turnover of EUR 25 million.
Invest in your team
Sumitra knows how important it is to encourage personal growth: it got her to where she is now. She leads her team in the same way these days. ‘You have to create an environment where your colleagues can thrive and this means always investing in the teams you manage and understanding individual and team drivers.’
For instance, one colleague may prefer to work independently, while another prefers a safe atmosphere at the conference table with others. Some colleagues like to be given concrete goals, while others want to be given a destination and then find their own road there. Leading means continuously understanding and taking into account the drivers and skills of your team. If you dedicate time and space to the development of your teams – you will see them grow. ‘It may sound crazy, but I want my team to surpass me. I want to accelerate their development and not slow it down – then I know we can really transform and progress as an organisation.’
Diversity in all layers
In particular, Sumitra focuses her attention on diversity and inclusion within the bank, and beyond. For example, she enjoys her mentoring relationships, particularly with rising female talent. ‘It is very important that women support each other and that we learn from each other. This is not a question of “women vs. men”; it is about balancing the voices at the table. The reality of the financial world is that women still face tougher challenges than men.’ They are less likely to be hired, or drop out rather than move up in an organisation. That is why women's voices are still under-represented in many places.
Nevertheless, much has changed – women who start now usually have it easier than when Sumitra was blown off by her recruiter. ABN AMRO's board also reflects this change, it being one of the reasons why Sumitra wants to work here. ‘If you compare the team of today with that of a few years ago, you can see how much has been improved. And diversity at the top is a prerequisite for change in other layers.’
Personal leadership
You can learn many leader skills, but at the same time, personal leadership is linked to who you are. Sumitra's background became the basis for her management style. She grew up in England with family in India, lived in the United States and has travelled extensively. This is how she learned to connect with people who were different from her, first unconsciously and then consciously. She wants to understand the other person in order to support their growth and collaborate with them. ‘That is how you can create value.’
What would she impart to someone considering a career in the bank? ‘Believe in yourself. That was the deciding factor in every major step in my life. I believed that I could succeed in the banking world, just as I believed that I could build a life for my family in Amsterdam. And at the same time: stay grounded, and don't take yourself too seriously, things don’t always go smoothly and having a good sense of humour goes a long way in those hard times.’
