How Equitable Confronted Its Inertia After 160 Years in Business

Equitable, a 163-year-old financial services firm, serves more than five million clients across three main lines of business: retirement planning, wealth management, and asset management. Spun out of French insurance giant AXA in a 2018 IPO, Equitable’s leadership team was excited to be out on its own but quickly realized that to overcome inertia and remain relevant, the company’s ways of working would need to change.
In 2019, CEO Mark Pearson launched an effort known internally as New Ways of Working, or NWOW, aimed at helping the firm become faster, more accountable, and more adaptive in a highly competitive and regulated industry. Several years in, the effort sheds light on core leadership questions: What does true cultural change look like? What makes it last? And how do leaders bring skeptics along? Harvard Business School Professor Das Narayandas joins Pearson and COO Jeff Hurd to discuss the case “New WOW at Equitable: A New Way of Working.”