Nicolai Tangen highlights a paradoxical challenge of long-term strategy: the immense difficulty of sitting still and taking no action for extended periods. Resisting the daily pressure to "do something" is a critical, yet underestimated, psychological skill required for successful long-term investing.
To build a successful private bank, Sushan asked to be demoted to report to the head of consumer banking instead of the CEO. This unorthodox move allowed her to integrate with a larger division, creating a "wealth continuum" and achieving greater scale and impact than a standalone unit could have.
DBS created a cultural tool called a "WRECKOON" (Wreck-Raccoon). It empowers any employee, regardless of seniority, to formally "raccoon" (i.e., critique or tear down) a senior leader's idea in a meeting. This system fosters psychological safety and makes challenging authority a formal part of the process.
To transform from the "worst bank for service," DBS studied Singapore Airlines, a leader in customer experience. They adopted its principles and even hired retired airline staff to work in branches, embedding a hospitality-first mindset directly into their customer-facing operations and creating pride in service.
DBS CEO Sushan explains that the Singaporean slang "kiasu" (scared to lose) creates a productive paranoia. This fear of being left behind is the cultural DNA that forces the bank and the nation to constantly evolve and stay ahead, embodying the principle that only the paranoid survive.
DBS quantifies AI impact not by cost savings, but by the incremental revenue generated from AI-driven customer "nudges." Using rigorous A/B testing, they track the lift from these interactions, reframing AI's value proposition from an efficiency tool to a revenue growth engine, targeting over a billion dollars.
Nicolai Tangen, CEO of the world's largest sovereign wealth fund, redefines the CEO acronym as "Chief Energy Officer." He sees his primary job as providing energy, direction, and inspiration to push the team toward ambitious goals they might initially resist, framing leadership as a function of energy transfer.
Nicolai Tangen, CEO of Norway's sovereign wealth fund, uses laughter as a litmus test for setting ambitions. He argues that if a team doesn't laugh when first hearing a goal, it's not audacious enough. The initial disbelief signals a truly transformative vision that stretches the organization's capabilities.