As Colombia’s Banco W was transitioning from a microfinance institution to a bank in 2012, newly-arrived Chief Executive Officer José Alejandro Guerrero Becerra realized he needed to trigger a culture change that would improve service to low-income clients and deliver on a commitment to making a significant social impact. Five years later, Banco W’s service quality ratings were up, it had relaunched its brand and image, and held an over-subscribed note issue.

Such transformation can sometimes come at the cost of internal upheaval but instead Banco W was recognized by “Great Place to Work” as one of the best workplaces in Colombia last year.