Nov 01 2024 51 mins 2
Laurent Depus, President of Natixis Japan Securities, the Japanese branch of French bank corporation Natixis, has been working in Japan for over 30 years. Originally from Belgium, he aimed to become an English and Spanish interpreter but changed his career course when he joined Chase Manhattan Bank in Luxemburg as a trader. After experiencing various management positions in the financial sector, Mr. Depus joined Natixis in 2014.
Mr. Depus observes successful organizations need to establish three main pillars. First is to have a profitable business model. Second is to have regulated governance. Third is to have a strong company culture.
During his time at SMBC Trust Bank, he built these three pillars for the company from the ground up. He especially notes the challenge he had of creating a strong company culture in the complex Japanese workplace. Although very hierarchical, Mr. Depus observes that the Japanese decision-making process is more participatory than the west. He explains how vital it is to establish trust within one’s team to ensure everyone is moving towards the same direction. This is a challenge especially in a non-confrontational culture like Japan where people may seemingly agree with the boss but silently resist. Additionally, Japanese staff may be wary of foreign managers as they are seen as short-term workers who will move onto another position in 2-3 years. In navigating such challenges and winning trust, Mr. Depus emphasizes the importance of being genuine, honest and transparent. He says, “I think once people have realized that you are honest and genuine, the ice will crack. Trust will be generated. And once you have trust, mistakes can be made. You can make mistakes and your staff can make mistakes. But there's no hard feelings because there is trust, like in any…family.” Mr. Depus adds that when there is trust, more people come forward with new ideas, creating a momentum for creative innovation.
Mr. Depus advises newcomers of Japan to be prepared, detail-oriented, and honest in order to gain trust. He explains, “in the Benelux where I'm from, I would only get a transaction when I had the best price. [But in Japan], once the relationship is created, it's usually more than just a simple, pure business, [but a] product-oriented relationship.”
