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Introduction
Desjardins was Canada's sixth largest deposit-taking institution, holding the leading market share
in Quebec but competing against Canada's major national banks that were also rapidly
globalizing. The big change in 2001 was the merger of the 11 federations into one. By 2007,
Leroux had decided to run for President. “Kanter, Rosabeth Moss, and Ai-Ling Jamila Malone “
Leroux was elected in 2008 as Chairman, President, and CEO of Desjardins Group. In order to
compete effectively in a demanding and changing financial services industry and survive the
global financial crisis, Desjardins needed to integrate, consolidate, and determine how to
preserve traditional values while preparing for the future and emerging as a less provincial
financial group. In 2012 she led a major transformation, overcoming resistance, at a large
Canadian financial cooperative based in Quebec that competed with top Canadian banks and the
opportunities and challenges ahead.
Obstacles
Once elected the chair of the board of directors and CEO of Desjardins in 2008, Leroux and her
team look at the business in the context of the financial crisis. They talked about the importance
of growth and of looking at the opportunities of the Canadian market, and the importance of
having critical mass in certain lines of businesses “Hemmadi .M, 2015”. They also concluded
that it was very important for Desjardins not just to stay in Quebec but to capitalize on the
strengths what they had, especially in insurance and our card business, and to develop a growth
plan across the country.
Changes initiatives
Successful change initiatives start with top management as they play a very important factor.