Guiding the Future: How OCBC Revitalised
its Purpose, Values and Ambition
for Another 100 Years of Leadership

Challenge

OCBC is the longest established Singapore bank and a leading financial institution across Asia. Formed in 1932 out of a necessity to address the pressing financial challenges of the Great Depression, its founding ethos was rooted in delivering tailored financial solutions to support the personal and business aspirations of its clientele, as well as to contribute positively to the community. This foundational principle has steered the bank through decades, enabling it to expand its reach and services.  

In anticipation of its 100th anniversary, OCBC sought to refine and rejuvenate its core Purpose, to further solidify the bank's legacy and prepare for the future. This mission was rooted in a desire to also reinforce OCBC's Values and underlying Ambition, ensuring that its foundational purpose continues to resonate both internally–up, down and across its organisation–and externally, in people’s lives and the communities it serves.  

The endeavour represented a forward-looking approach. OCBC's goal was to foster a strong, unified culture that builds on the bank’s history of excellence while empowering its employees to collectively address the challenges and opportunities of the future. By aligning its workforce around a shared purpose, the bank aimed to enhance its responsiveness to environmental concerns, attract and retain top talent, and continue making meaningful contributions to societal and environmental well-being.  

Solution

The Purpose Business (TPB), in collaboration with our strategic partner Within People (Within), crafted a tailored strategy for OCBC, focusing on engaging the bank's strategic planning office, a steering committee led by the CEO, and a select group of next-generation leaders across the organisation.  

Our approach emphasised understanding OCBC's unique impact and essence, thereby refining its purpose statement to foster deeper engagement among employees and reinvigorating purpose-driven growth. We focused on four primary objectives: 

• Purpose Re-discovery and Articulation: TPB and Within supported OCBC in both redefining and energising its core purpose. This foundational step, essential in highlighting the bank's significant positive effects on the lives of individuals and communities, was pivotal in mapping out the bank's ambition for future growth. 

• Setting an Ambition: Through strategic facilitation of high-level dialogue and hands-on support, we helped OCBC’s  leadership team build upon their existing vision statement and translate it into a future-facing Ambition statement, to serve as a guide for the organisation as it navigates an evolving landscape while staying true to its core purpose.  

• Values Revitalisation: The initiative aimed to refresh OCBC's core values to deeply resonate with employees and external stakeholders, thereby maintaining relevance in a dynamic business landscape. This effort was crucial for guiding behaviours, cultivating a culture aligned with the bank's aspirations, and assessing how the bank's values influence its impact.   

• Integration of Purpose and Values: we sought to integrate the core principles of Purpose, Values, and Ambition (PVA) across the organisation, starting with the top 1% of leadership. Recognising the pivotal role that leaders play in setting the tone and direction for the entire organisation, our approach was centred on immersive learning experiences. These experiences were designed to deepen leaders' understanding of PVA and equip them with the knowledge and tools necessary to embody these principles in their daily work and team management. 

Impact

TPB and Within orchestrated the rollout of the redefined Purpose, Values, and Ambition via an immersive engagement experience for 250 senior managers of OCBC during their 2023 leadership conference, motivating them with strategies to bring the organisation's Purpose to life.