Answer extracted from the Executive Wins Podcast — listen to the full episode below.
How has the nature of business capital changed in financial services, and what does this mean for leadership?
Historically, capital in banking meant money locked in vaults to build plants and create economic infrastructure. Today, organizational capital is largely human potential—and those knowledge workers go home every night. Leaders must create environments where people choose to return, invest in their futures, and feel set up for success.
The shift is particularly pronounced in financial services, where the industry depends increasingly on knowledge workers rather than repeatable tasks. This represents a fundamental change in how leaders think about competitive advantage and retention.
In the old banking model, competitive strength came from physical assets and capital reserves. You could measure success by the money in your vaults, the buildings you owned, the machinery you controlled. But in modern financial services, the real asset walks out the door at 5 p.m.
This forces a new leadership imperative: you must make people want to come back. Every morning, your employees choose whether to show up. That choice is no longer about having no better options—it's about finding meaning, growth, and opportunity in where they work. Leaders who understand this shift invest in their people's development, create psychological safety, and build mentoring cultures that turn jobs into careers.
"The primary job of leaders is to build more leaders. Like before the business success, before celebrate the results for the year or whatever the case may be, the primary job of leaders is to actually build more leaders."
Eric Dillon — President, General Bank of Canada. With 30 years of banking experience primarily in Alberta, Dillon has led teams as large as 2,000 people and has built over 122 documented mentoring relationships. His deep commitment to developing the next generation of leaders and advancing gender diversity in finance has shaped his entire approach to organizational capital.
The practical consequence is that financial leaders must invest systematically in mentoring and leadership development. This is not a nice-to-have; it is a core business function. When employees see clear pathways for growth and experience mentoring from senior leaders, they invest themselves more fully in the organization. They stay longer, perform better, and eventually mentor others—multiplying the returns on your investment in human capital.
In today's financial services environment, leadership success is measured by the leaders you build, not just by the quarterly results you deliver. This mindset shift determines whether an organization can attract and retain the best minds in a competitive knowledge-driven industry.
See also
What is the primary responsibility of business leaders in modern organizations?
According to Dillon, the primary job of leaders is to build more leaders—before celebrating business success or annual results. This foundational responsibility shapes everything else a leader does and directly connects to your organization's ability to retain talent and develop future leaders.
How should leaders approach candid feedback and transparency in mentoring relationships?
Dillon became increasingly courageous and unapologetic about delivering honest feedback in mentoring relationships. He now approaches directness matter-of-factly, making it a cornerstone of his mentoring process rather than something to soften or avoid.
Why should confidentiality be a two-way commitment in mentor-mentee relationships?
Confidentiality works both directions: the mentee protects information shared by the mentor, and the mentor protects sensitive details shared by the mentee. This mutual protection builds trust and psychological safety, which are essential for meaningful mentoring.