Edward Rebane
Citadele Bank
Chief Retail Officer and Member of Management Board
Edward Rebane is Chief Retail Officer and Member of the Management Board at Citadele Bank. He’s always on the move, whether it’s for business trips or hiking in nature to clear his mind, and among his many pieces of advice, he especially highlights the importance of meeting people face-to-face.
Please tell us a little bit about your background.
At five years old, I dreamed of becoming a banker like my father. Now I am living the life I envisioned as a child, serving as a member of the Management Board and Chief Retail Officer at Citadele Bank. I started my career in the banking sector in 2010, holding various leadership positions in Estonia and the Baltic region. Through these roles, I gained an in-depth understanding of the banking sector by developing digital solutions to improve customer experience and building different distribution strategies. I have pursued advanced studies at five universities: the University of Oxford (Executive Program), Birmingham City University (MBA), Estonian Business School (BBA), LIUC – Università Cattaneo (EXC), and Università LUMSA (EXC).
What does your workplace look like?
My workplace, whether at the Citadele office or anywhere else, needs to be clean, cozy, and nice. This way, I can fully concentrate and give 100% to whatever I'm working on at the moment.
Could you describe your usual working day?
I start my workdays early to make the most of the day. I have around 10-20 meetings a day, most of them lasting about 20 minutes. Around 7 pm, I spend time with my family for a couple of hours. After that, I head to the gym and sauna around 9 pm. Flying to different countries is also part of my normal workday—there are only a few weeks in a year when I spend all my time in one country. This year alone I have already been on around 50 flights. Even though regular traveling can be time-consuming and tiring sometimes, all those troubles are outweighed by the chance to meet people face-to-face and discuss important questions in person.
What is your favorite food?
I enjoy Mediterranean food and seafood in general. I've had the chance to try different restaurants while traveling abroad and domestically. Estonia is a maritime country, and seafood holds an important place in the local cuisine.
What do you do when you need a break from work?
Spending time in nature—taking walks in the forest and hiking, whether alone or with family—helps me to unwind and relax. On weekends and vacations, I like to turn my phone off for a day or two so I can be fully present with my family and friends.
What is the key to building a successful team?
In my opinion, the basis for a successful team is trust in each other. Other important aspects, such as a constant feedback loop and being open with each other, are built on this value. I find it important that people have good energy and motivation to make a difference and have a can-do attitude. This way, the team can focus on delivering results and also remember to have fun while working.
There is a saying that we learn more from failure than success. Tell me about one of your failures and what you have learned from it.
I believe that there cannot be too much honest and open communication when planning strategic or structural changes in an organization. Having several pre-chats with the most important stakeholders ensures that they trust the decision and are informed about it a little bit beforehand. Before making and executing a decision, it's necessary to think about how to engage employees in a meaningful way so they understand the reasons behind the changes. Communicating with several different groups and keeping in mind their needs and expectations might be a tricky and time-consuming task, but it is a necessary one if you want to achieve success.
What advice would you give to someone who wants to succeed in financial services?
I think there are several things that could benefit anyone working in finance in today's global environment.
1. Study at different universities in different countries to learn about various perspectives and cultures.
2. When starting your career, always do more than asked and take on larger responsibilities when possible.
3. Enter the financial industry only if you truly like it and are interested in lifelong learning.
4. Start as a trainee to see how things are done, challenge the norm, and make mistakes in a controlled environment.
5. Find a mentor who is in a higher or similar position to where you want to be one day. It can even be a member of the management board[L1] .
6. Understand your strengths and weaknesses and find a financial company and department that you like and that helps you grow as a professional.
7. Whenever you doubt if you are in the right place or field, ask yourself if this work gives you energy and motivation or if it takes it away. For me, working in banking gives more energy and is truly my passion.
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