Governmental Banco de la Ciudad de Buenos Aires (Banco Ciudad) lost money in 2007. In early 2008, Federico Sturzenegger, renowned academic in Argentina, has been appointed executive chairman of the city authorities and charged with turning around the bank. But just four months later, Sturzenegger just before the 45th day of the labor conflict caused by the union representatives of six dismissed workers. Autopsy raised several questions. First and most important: Who owned Banco Ciudad? The city government? Citizens? Its employees? How could this bank to use their strengths and overcome their weaknesses in order to best serve its constituents and the public? This case Sturzenegger in saturated first few years in office to learn how to maneuver the state enterprise in difficult conditions, has reached its goal of increasing efficiency and profitability.
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by Aldo Musacchio, Gustavo A. Guerrero, Cintra Scott Source: Harvard Business School 25 pages. Publication Date: November 22, 2011. Prod. #: 712029-PDF-ENG
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