Much as the regulatory issues have become more and more complex and nuanced, the role of the leaders in the system has also got increasingly in focus, both for future financial stability, as also for efficiency and innovation. This, indeed, is a time for transformation. There are, in fact, significant differences between change and transformation.
Change is the way things will be different, and transformation is how you move people through the stages to make change work. Change is a shift in the externals of any situation, for example, setting up a new programme, restructuring a business, moving to new location, or a promotion.