Andrea Sironi: leadership is a route, not a destination

Giving things in life their proper weight: If every leadership style can be summed up in a sentence, in a motto, this is probably the one for Andrea Sironi. It defines a “holistic” vision of leadership, one that brings together professional and personal, public and private, goals and values. And it’s one that emphasizes the balance between these elements, often a source of conflict instead. Nonetheless, it was certainly not the figure of a guru that emerged during Sironi’s Leadership Series meeting with our Full-time MBA participants. Rather, a person willing to reveal the long and difficult process of developing such a balance, through difficulties and mistakes as well as opportunities and successes, a process resulting in a kind of wisdom. This rarely-used word, well suited to this idea of leadership, does not indicate a safe and definitive harbor but rather the horizon of your sailing route (and it’s not just a metaphor).

Andrea Sironi needs no introduction to Bocconi public. Professor of Financial Markets and Institutions at Bocconi University, he has been Rector there from 2012 to 2016. In the same year, he became Chairman of Borsa Italiana and a member of the board of the London Stock Exchange Group (he has recently given up the latter role in view of the acquisition of Borsa Italiana by Euronext, whose portfolio includes many stock exchanges in the Eurozone), in addition to being an independent director sitting in several other institutions’ boards.

And it was about his “natural habitat”, financial markets, that Sironi first spoke. He described a dynamic picture showing the major contemporary traits and evolutionary trends of capital markets, and highlighting the Italian paradox: “95% of institutional investors at Borsa Italiana are not Italian, and Italian institutional investors tend not to invest in Italy. On the other hand, Italian companies tend to rely mostly on bank financing, and are reluctant to go public because they do not want to dilute ownership.” Borsa Italiana aims to change these behaviors through its Elite program, supporting companies in cultural and organizational change in order for them to approach capital markets and join an international network thanks to training and tutoring.

But Sironi delved far deeper than his profession and career. He started on what might seem merely accidental: “My professional life began over 30 years ago as a financial analyst at Chase Manhattan Bank in London. But that was not what I wanted to do in life, I would rather follow an academic career because I love teaching and research. But I had missed my opportunity to enter a PhD because of health issues.” And here came the first of a set of lessons Sironi has learned from his own experience and was ready to share with our MBA audience: “Not always can you get what you want straight ahead; but it is important to seize unexpected opportunities and learn from them. They will help you find your way later on”.

And it is vital to pinpoint the drivers of your decisions. A second (and complementary) lesson came when Sironi started his academic career: “After two years in London, I went back to Bocconi, where my compensation was significantly lower”, Sironi said. “Do not focus on money, especially at the beginning of your career. It should never be your main decision driver”.

One of those criteria should certainly be developing your skills. “Before becoming Rector at Bocconi, I have been consulting a number of international financial institutions and I have understood that, to gain a competitive advantage, it is crucial for you at a certain stage in your life, say in your 30s, to develop a specific expertise and not remain a generic manager”. A second essential driver is “international experience, which is key to understanding people from other cultures and even to better understand our own country”. Prompted by a question by FT-MBA Director Francesco Daveri, Sironi suggested the following decision-making principle to the young MBA managers: “If you are offered an opportunity and you are uncertain whether to take it or not, that means you can take it because you are seeing some positive sides in it”.

Then, quietly, came some true leadership lessons. “My time as Rector at Bocconi was probably the only time I was really a manager, for I was managing people. The quality of your action is in how you care for them. For instance, when evaluating people, the judgment of subordinates is more important than the bosses’.” Listening is the point. “Sitting in the boards of a number of institutions taught me how important it is to dedicate time to listening to and understanding others. Listen to the opinions of others before you express your own.” Last but essential in top positions is purpose: “You should not only understand what to do and how to do it, but above all why you are doing it”.







SDA Bocconi School of Management.