Louis Vachon, former CEO of the National Bank | “I was never a natural leader”

“Being a slap face at 28 may be fun, but at 38, it’s not. At some point, we have to grow and evolve. »

Former National Bank CEO Louis Vachon says he was not a natural leader and that his leadership was “learned, developed, coached and patched at times.”

This is what he reveals in an autobiographical book which will be in bookstores in the coming days.

“I’m neither handsome nor tall, and I haven’t always been easy to approach. I have never been a natural leader,” says Louis Vachon in this book written in the first person.

This observation did not prevent him from running the largest bank in Quebec for around fifteen years.

In an interview, the 61-year-old banker maintains that writing this book was not a project he had wanted to carry out for a long time. It was after reading Disney CEO Bob Iger’s autobiography while on vacation two years ago that he said he thought about publishing a book.

“Bob Iger’s book – The Ride of a Lifetime – is interesting, relevant and relatively short,” he illustrates.

Become more composed

In his book entitled Passion for the jobLouis Vachon reveals himself to be vulnerable and explains with great humility several lessons learned from his journey.

Very combative by nature, Louis Vachon says he had to become more calm to avoid being the source of tension.

“Even though I was a good financial professional, I was perceived as abrasive and without the aptitude to be a high-level manager,” he said. Louis Vachon says he realized that the biggest obstacle to his progress was himself. This trigger marked, he emphasizes, his evolution as a person, manager and leader.

Leadership consists, according to him, of preparing for change, managing it and explaining it.

“What made me effective was that I was organized regarding my time and my files,” it reads.

No emails on Sunday

One of the secrets of his success: always arriving at the office at the same time. It gives his team benchmarks and creates a form of stability in the organization of work, he says.

Louis Vachon also claims to have often prepared his weeks on Sunday morning. “It allows you to reflect at a time when everything is calm. »

Sending emails on Sunday is not a good approach, because a leader must measure, he says, the effect of his actions.

A good leader has an ethical sense, first of all, and a mixture of passion and ambition, according to Louis Vachon, as well as an ability to adapt. “Decision making can require courage and that is the role of the leader. »

The best way to manage a crisis is… to avoid it, says Louis Vachon. This is why risk management is so important to him.

The second lesson in managing a crisis, he says, is to be proactive and transparent. And the third is to pay attention to yourself and the way you act: that is, continue to exercise; manage as a team and delegate; avoid alcohol and drugs; preserve your sleep, since lack of sleep affects judgment, discernment, emotions and leads to making mistakes.

A striking and inspiring character trait that he admires in people is authenticity. He cites several politicians as examples: Jean Chrétien, Régis Labeaume, Stephen Harper, François Legault and Brian Mulroney. On TV or in person, these people remain the same person, he illustrates.

Some of his advice to a new manager on the job: listen and ask questions, be visible and meet people in person. “Leadership cannot exist if it is invisible and inaudible. »

Louis Vachon also emphasizes in the book that he never really understood why the major Canadian banks established themselves in the United States on such a large scale, because the American market is the most competitive in the world. He preferred to head to emerging markets, particularly Cambodia where, under his leadership, the National Bank developed assets of more than $15 billion.

Passion for the job

Louis Vachon, with the collaboration of Claude Breton

Editions La Presse

176 pages