Leadership
Banking on the future
How Michael Carbone builds the next generation of leaders at TD Bank
By Erik Cassano
Smart Business Philadelphia | October 2009
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You shouldn’t do it alone. You can’t do it alone.
Even if you founded your company and have overseen its growth every step of the way, you can’t possibly have all the answers as you pilot your business through choppy economic waters, a competitive market and a host of other conditions that have caused more than a few experienced business leaders to lose some sleep.
It’s a lesson Michael Carbone has taken to heart. The regional president of TD Bank’s metro Philadelphia market has placed a strong emphasis on identifying, grooming and promoting new managers and executives in his 4,500-employee division of TD Bank, a banking giant that employs more than 23,000 people in the U.S.
Carbone has a team of six direct reports, who in turn oversee scores of managers working in the levels beneath them. He says his leadership team has had a mostly harmonious existence, working through challenges and adhering to the principles that have built the company. But building and maintaining a cohesive team is a constant project, and Carbone is always on the lookout for construction material in the form of new recruits.
“You have to have leaders who are academically smart but also have good street smarts and common sense,” Carbone says. “You need people who are willing to make a decision, but if it doesn’t feel right or sound right, are willing to bump it up to the next level and ask for help. The people who are the best leaders are the people who aren’t afraid to acknowledge that they could use a hand with something, reaching out to both superiors and peers for help in a given situation.”
Building those kinds of leaders takes a keen eye for talent and management potential and an ability to cultivate a collaborative, team-focused mentality in your people.
